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Archive for January 24th, 2012
Tonight President Obama will give a class warfare speech about fairness, while his crony capitalism ways continue unabated. All this talk is nothing but deception for the economically illiterate voters, and those just too stupid, being of low IQ, to understand. The real issues of economic stagnation, and soon collapse, will be avoided. To say Obama is the world’s number one hypocrite does injustice to hypocrites everywhere.
While Obama bloviates about economic injustice the real creator of economic justice, the Federal Reserve, lack of an immigration policy, and government transfer payments of 15.3% of a poor persons paycheck, will never be mentioned.
Politicians do not care about economic injustice, they only like to talk about it and blame the straw man, “the rich,” and baffle the, too stupid to understand the con game, (mostly) Democratic voters. Meanwhile the super rich, like Buffett, get richer.
The following appeared in Zero Hedge on 1-24-2012.
“Just when one thinks American crony capitalism couldn’t hit new lows, here comes Warren Buffett and his personal puppet, the president, proving everyone wrong once more. Because if one thinks there is no (s)quid pro quo for all that “sage” advice that Buffett has been giving to Obama on extracting as much wealth as possible from future wealthy Americans (before they decide they have had enough with this crony shit and leave the country for good), one would be fatally wrong.
As it turns out, it is not just natural resources and aquifer purity that Obama had in mind when sealing the fate of the Keystone XL pipeline. No – it appears there were far more relevant numerial metrics that determined Obama’s decisions. Such as the bottom line number of Buffett’s Burlington Northern, which according to Bloomberg, is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp.’s Keystone XL oil pipeline permit.
‘“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”
And quite delighted to reap the windfalls of unfounded populist fears she forgot to add. Because while the whole “carbon-credit” multi-trillion top line expansion scheme for Goldman under the pretense of actually caring for the environment may have collapsed, it is not preventing others from trying and succeeding where even Goldman has failed.”
From Bloomberg News,
“Rail car production is already at a three-year high as manufacturers such as Greenbrier Cos Inc. (GBX) and American Railcar Industries Inc. (ARII) expand to meet demand for sand used in oil and gas exploration, according to Steve Barger, an analyst at Keybanc Capital Markets Inc. in Cleveland, citing Railway Supply Institute statistics.
Rail-car suppliers can add capacity, Hatch said.
“Railroads are not just a stopgap while we wait for a pipeline,” Hatch said in an interview. “They are potentially part of the long-term solution.”
Railroads are being used in North Dakota (STOND1), where oil producers have spurred a fivefold increase in output by using intensive drilling practices in the Bakken, a geologic formation that stretches from southern Alberta to the northern U.S. Great Plains. During 2011, rail capacity in the region tripled to almost 300,000 barrels a day as higher production exceeded what pipelines handle, according to the State Department report on Keystone XL.
Burlington Northern carries about 25 percent of the oil from the Bakken, said Krista York-Wooley, the railroad spokeswoman. The company can carry higher volumes from North Dakota or Alberta, she said.
Canadian Pacific Railway Ltd. (CP)’s shipments from North Dakota climbed to more than 13,000 carloads last year from about 500 in 2009, Ed Greenberg, a spokesman, said in an e-mail. The Calgary- based company has a similar plan in western Canada.
“With an extensive rail network and proven expertise in moving energy, CP offers a flexible option for transporting crude oil and other energy-related products to and from key locations in North America,” Vice President Tracy Robinson said in an e-mail. “Rail is scalable, allowing CP to effectively keep pace with the shipping needs of producers.””
To quote Zero Hedge;
“So those wondering how it is that AAR railroad statistics continue to be so very strong, it is not because the economy actually justifies it: it is because crony interests such as those of the Octogenarian of Omaha demand it as “payment” for their crony collegiality with the biggest dunce president since Carter.
In other news, it is truly amazing how with every new development, America is now becoming like one giant conspiracy theory, only this time it is actually not a theory as with every passing day we see it enacted in practice.”
Briefly the economic problems are;
1. Too much debt, deleveraging must occur before we can grow the economy.
2. Too much government consumption, spending, of the economic resources. Government, federal, state, and local, creates waste and misallocation of resources and consumption should not exceed 25% of the GDP, total. Currently federal, state, and local consume over 45% of the GDP creating huge deficits and crowding out of sustainable productive private enterprise job creation.
3. Regulations. Regulators do not add to the GDP, never did and never will. Regulators will never protect the American public from financial disaster; they completely missed the housing bubble and are completely missing the money bubble. They are useless and the sooner we the people realize it the better. The best regulation is strong private property rights and the ability to utilize the lawyer services of law firms to enforce those private property rights. Call it the Morgan and Morgan regulators.
4. No border fence or enforcement of immigration law. When President Warren Harding entered office in 1921 in the middle of a sever recession with 20% unemployment he understood that is was not beneath his dignity to enforce immigration laws. Why have we created this nation if we cannot enforce the borders?
None of this will be discussed tonight.
What’s the deal with Chris Christie saying Newt Gingrich is an embarrassment to the Republican Party?
Guess he has not noticed half the Republican party is an embarrassment to the people. This reality is not sinking in yet?
Now Ann Coulter is wound up like a ready to break clock spring on Bill O’Reilly?
Pretty much the pot calling the kettle black Ann. What you do is not good for Newt?
Then she is saying Gingrich CAN NOT BEAT OBAMA?
Let me try and piece this together here.
Could it be Ann Coulter is playing “elite politics as usual”?
She just LOVES CHRIS CHRISTIE and Christie has been promised VP slot to Romney?
Since a worn out flip flop could beat Obama I am wondering what is the REAL DEAL?
Those who THINK THEY ARE THE REPUBLICAN ELITE get to tell “we the people” who can beat Obama?
I think not!
To date I have watched every debate. Honestly I have not heard anything new from Mitt Romney in all that time. It appears he has canned talking points THAT NEVER CHANGE.
He is drop dead boring.
The same old sing song rhetoric which will likely be broken should he get into office.
It appears to me THE ROMNEY RECORD shows he simply goes with whatever the political flow might be.
Would he be better than Barack Obama?
A 1000 times!
Would he be better than Newt Gingrich?
NO! they are on par!
So will it be interesting to see what the people in Florida have to say when they hit the ballot box next week?
Yes indeed it will.