Conn Carroll Reads Harold Meyerson So That The Rest Of Us Don’t Have To
And lives to tell the tale. Once again: Isn’t Meyerson’s tale supposed to one from the “reality-based community”? And since it so obviously is not, what on Earth is the Washington Post doing allowing Meyerson to draw a salary? It is one thing to have differing political opinions. Obviously, no one should think that we have or should have political uniformity to the degree that | Read More »
Speculating! Price-Gouging! Unconscionable Oil Company Profits!
Yeah, right: Crude oil prices fell more than 5.4 percent on Friday in the biggest one-day slide since 2004 as dealers turned their focus to rising supply levels and weakening global demand. A rebound in the U.S. dollar encouraged the sell-off, applying downward pressure across the commodities markets by weakening the purchasing power of buyers using other currencies, dealers said. The slide adds to a | Read More »
More Of This Please
James Pethoukis delivers a one-two between the eyes of Obamanomics. In addition to the economics lesson Pethoukis properly delivers, we have yet another lesson in just how much the media is in the tank for Barack Obama. Of course, all of this fawning only serves to reinforce the Obama-is-just-a-celebrity narrative, though the only people who don’t seem to understand or accept this are Obama and | Read More »
In Which Things Get Interesting . . .
And Chuck Schumer may need to get some consultants stat: California’s attorney general is reviewing a request by former employees of IndyMac Bancorp Inc to investigate whether a New York senator triggered the bank’s collapse by releasing confidential information. At issue is a much-publicized letter that Chuck Schumer, a Democrat, sent in June to the Federal Deposit Insurance Corp (FDIC) and Office of Thrift Supervision | Read More »
The markets stick it to the Ronulans
Gold prices are collapsing, says Bloomberg: Gold fell below $800 an ounce Friday, capping the biggest weekly slide in 25 years, as the dollar surged against the euro, reducing the appeal of the metal as an alternative investment. Silver dropped as much as 14 percent. The dollar headed for a fifth straight weekly gain against the euro as economies in Europe slow. Gold generally moves | Read More »
Protectionism In The Newspaper Industry?
Somehow, I don’t think that this will come about. The question, of course, is why we should have to put up with similar pronouncements when other industries are forced to adapt to changes that fundamentally alter the nature of those industries. Resorting to knee-jerk protectionism in the hypothetical that Dan Griswold discusses is plainly silly. But there are a whole host of other situations as | Read More »
US Dollar Strengthening Rapidly
Today’s trading has the dollar stronger than $1.47 against the euro. It started the week in the neighborhood of $1.53. Oil is down around $111 and gold is below $800. I told you folks that this shift would be rapid, once it got started.
How To Cure The Economy’s Common Cold
It seems our respective presidential candidates miss the most important message about the economy: The people for which it serves. Obama offers quasi-socialist policy; bleed the rich to support the poor and middle class, it’s a classic and failed Democratic answer. McCain suffers from tax cut tourette syndrome, sure it’s a fine remedy but it only eases the pain before death. You have to go | Read More »
Get Ready for the Next Assault on Corporate Profits: Followup
One of the things we do for you here at RedState is to cut through the noise and spin so you’ll know what’s really going on. If you were reading the headlines yesterday, you doubtless heard about a new government study showing that a great many business corporations don’t pay any income taxes. Well, no [excrement], Sherlock. If you don’t make any money in a | Read More »
Get Ready for the Next Assault on Corporate Profits
ABC News, by way of the Associated Press, is reporting that “most” US corporations, and foreign corporations doing business in the US, paid no income taxes between 1998 and 2005. What reportedly happened is that Senators Dorgan (D-ND) and Levin (D-MI) went to the Government Accountability Office (GAO) and asked them to find them a stick to hit business over the head with. Supposedly, this | Read More »
Emerging Theme in Financial Markets: The US Dollar is Getting Stronger
A vast movement involving enormous amounts of capital is now underway. Investors around the world are buying dollars again. And they’re selling the oil, gold and other commodities that have been serving as a hedge against dollar weakness since the Federal Reserve started aggressively cutting interest rates eleven months ago. As I write, the US dollar is trading above $1.50 to the euro. The dollar’s | Read More »
The Free Trade Candidate For President
His identity is no surprise. The only surprising thing is that in this day and age, the argument still needs to be made that free trade is a far better policy to follow than is the mindless and destructive protectionist–and yes, xenophobic–prescription Barack Obama’s allies are cooking up.
Just a Quick One – Other Big Story Today
Just so no one misses it, the dollar is rallying enormously, not-coincidentally the price of crude is tanking (should we stop speculators when they drive the price DOWN?), and the DJIA and NASDAQ are rallying smartly. Today’s good news….
On The Windfall Profits Tax Proposed For Oil Companies
Why, pray tell, are we going after oil companies again? This question is especially important, given the fact that there are so many other industries that are making more in terms of profit margin. I mean, is demagoguery so important to the “reality-based community” that reality is being so utterly and completely abandoned here? Sigh. Don’t answer that.
Why Blackhedd Needs a Publicist
Fortune is running an interesting piece about some financial types who foretold the credit crisis that nearly swamped the US economy. They probably don’t have much name recognition even among people who follow the markets on a more or less regular basis.