Oil drops for third day because of economics 101.
As much as we all have wanted to string speculators up by their thumbs (and they do have it coming), the drop in oil over the past three days has been because of downward pressure being placed on the market by fundamentals.
“Let them eat cake” Democrats
By Mike DeVine, Legal Editor for The Minority Report and The HinzSight ReportThe crisis can’t wait till Inauguration Day, 2009. America is not a TV show whose plot hinges on what camera angle CNN decides to use to make McCain look old and short and Obama look like he has a clue.Americans are hurting and the fact that we haven’t had two consecutive quarters and | Read More »
Quotes That Catch My Fancy
Apparently, Free markets means free to go up only . . .–Barry Ritholtz on the ridiculousness of blaming speculation for high oil prices.
By The Numbers
Richard Rahn compares the economic plans and advisers of the Presidential candidates and finds McCain to be in a stronger position–though he does state that McCain needs to specify where his spending cuts will come from. When it comes to Obama’s position, Rahn is eviscerating:Mr. Obama’s fiscal plan is totally implausible. He has, according to the National Taxpayer Union (NTU), already promised to increase spending | Read More »
Breaking news: sunlight shines on global warming (aka climate change) skeptics
The headline at The Drudge Report website,”Group Repping 50,000 Physicists Opens Global Warming Debate…” [linked to dailytech.com] says it all. That headline stems from an article posted in the July, 2008, newsletter of the American Physical Society unit known as Physics and Society. Lord Christopher Monckton of Brenchley wrote the explosive article, ‘Climate Sensitivity Reconsidered,’and the abstract alone is guaranteed to make Al Gore’s blood | Read More »
A Balanced Budget Amendment: The Right Step to Secure our Nation and our Future
I believe limiting the amount of money government can legally spend to an amount no greater than that which it takes in would be one of the greatest, most meaningful achievements of this generation. I also believe that the most effective – and most permanent – way to do this is by amending the U.S. Constitution to require a balanced budget.My name is Alan Parks. | Read More »
Quotes That Catch My Fancy
Blaming speculators for high oil prices is like blaming a death on headaches rather than the underlying brain tumor.–Indur Goklany.
Unions Underfunding Their Own Members’ Pensions, Study Says
A few days ago I posted a story on a recent article in the New York Sun by Diana Furchtgott-Roth, Senior Fellow at The Hudson Institute, that focused on how the Service Employees International Union (SEIU) had not fully funded the pension plan of their rank and file members while they had over funded the pension plan of the Union’s chief officers. Well, today at | Read More »
The Energy Crisis:
This is a true story. It just hasn’t happened yet.
Binding Arbitration = Financial Collapse of Business Sector
We are reminded here on the blog that there is one aspect of the lie that is the Employee Free Choice Act bill that isn’t much discussed. That is the binding arbitration feature of this business/economy killing legislation. Besides the card check aspect where a union can dispense with the ages old democratic system of the secret ballot when employees are voting as to whether | Read More »
Daniel Mitchell Is A Generous And Good-Hearted Soul
He reads E.J. Dionne so that other people won’t have to.
SEIU Ripping Off It’s OWN Pensioners
It must be nice to be spending 85 million dollars on political campaigns yet refuse to fully fund your own member’s pension plan. That, among other things, is exactly the sort of hypocrisy that it was revealed that the SEIU has been caught indulging in this week. Diana Furchtgott-Roth did yeoman’s work in detailing the state of the SEIU’s underfunded pension obligations in the New | Read More »
If It’s Sunday Evening in New York, It’s Monday Morning in Tokyo
Update: 9:40am EDT, 14Jul08: Overseas markets reacted well to the Paulson “we have a plan” statement. Asian markets ended lower on regional concerns while Euro markets are somewhat higher. The US stock market has opened up over 100 points, while the US Treasury market is only slightly lower. FNM and FRE stock were both up about 20% in pre-market trading, while their bonds, swaps, and | Read More »
A Much Desired Development
I’m with Greg Mankiw: It really would be a wonderful thing if Presidential candidates pandered to economists.
Obama Tells Us What He Won’t Do
From an AP wire story, we hear that Senator Obama believes the US economy is in recession.If you’re in business or you follow business, your response is likely to be “No [excrement], Sherlock.”What frustrates me no end, however, are statements like these, which are being spun as His Highness’ “most definitive” statements yet on the economy:”I have little doubt that we’ve moved into recession at | Read More »