As we approach a world-wide recession let us not forget that is was caused be greed. From the Chinese toys and milk producers who destroyed their industries trying to make a few more cents. To the Florida condo investors, buying to flip and not to own. From the executives of Country Wide and all the other banks who sold/bought home loans without evaluating the properties or the owners. To the millions of consumers who buy everything on credit. To the OPEC nations which allowed oil to go to $140 a barrel.
Relatively cheap energy is the foundation of the modern economy. When the OPEC nations allowed the price to skyrocket pass $80 a barrel they were setting up the world economy for a fall. Although they made money from their oil in the short run, they are now losing more in the asset values of the stocks they bought with the oil money. Like Matha Stewart, who saved a few thousand from insider-trading but lost millions, the OPEC nations are now experiencing the results of their short-term thinking.
Wednesday, October 22, 2008
Good Times Ahead?
The euro is trading at $1.28, close to what the original mark was supposed to be at $1.18. Oil is under $67. Gold is down to $725 an ounce. In times of trouble to world comes to the U.S. The stock market is falling, but the volume is around 1 billion versus 3 billion shares traded daily. The Dow is 8500, fire sale prices for those who can wait 5 to 10 years.
Poll Results
IS THIS THE TIME FOR ?
Bigger Govt, More Taxes 40%
Smaller Govt, Less Taxes 40%
Bigger Govt, Less Taxes 20% (2-2-1)
DO YOU FAVOR A SPLIT GOVERNMENT?
No - Favor Dem Control 45%
No - Favor Rep Control 27%
Yes - Rep Cong, Dem Pres 27%
(5-3-3)
Bigger Govt, More Taxes 40%
Smaller Govt, Less Taxes 40%
Bigger Govt, Less Taxes 20% (2-2-1)
DO YOU FAVOR A SPLIT GOVERNMENT?
No - Favor Dem Control 45%
No - Favor Rep Control 27%
Yes - Rep Cong, Dem Pres 27%
(5-3-3)
Poll Results - Third Debate
WAS THE DEBATE GOOD? 66% Yes, 22% Average, 11% No (6-2-1)
WHO WON THE THIRD DEBATE? 54% Obama, 27% McCain, 18% Tie (6-3-2)
WHO WON THE THIRD DEBATE? 54% Obama, 27% McCain, 18% Tie (6-3-2)
New York Times: Acorn Report Raises Issues of Legality
New York Times
"An internal report by a lawyer for the community organizing group Acorn raises questions about whether the web of relationships among its 174 affiliates may have led to violations of federal laws."
"An internal report by a lawyer for the community organizing group Acorn raises questions about whether the web of relationships among its 174 affiliates may have led to violations of federal laws."
Tuesday, October 21, 2008
More Voter Fraud in Ohio
link
"On Wednesday, the Prosecutor's Office announced that it was investigating 13 voters who each listed the same Brownlee Avenue address on their voter registrations. On Friday, 10 Investigates learned that the home was the base of operations for a group called "Vote From Home.""
"On Wednesday, the Prosecutor's Office announced that it was investigating 13 voters who each listed the same Brownlee Avenue address on their voter registrations. On Friday, 10 Investigates learned that the home was the base of operations for a group called "Vote From Home.""
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