Posted on 03/09/2008 2:43:35 PM PDT by fweingart
ARROYO GRANDE, Calif. (MarketWatch) -- The buck stops here: This is Bush's recession, his legacy.
It could be a chapter in a future edition of Jacob Weisberg's "The Bush Tragedy," with new comparisons to "Henry V" and other great Shakespearean tragedies. In a few sentences, the opening lines could highlight why this is now Bush's recession, and his alone.
(Excerpt) Read more at marketwatch.com ...
I saw a 10 dollar bag of carrots a few weeks back
but hey they were organic
If the price of oil goes up, do you Alaskans get more money? How does that work?
You will have to answer your own question.
Don't you receive a free government check every year for oil anymore?
IT’s on prowl in US recession, cheap valuations help Indian firms
You will have to answer your own question.
I don't quite understand. Is that some sort of welfare quilt or something?
Not all debt is created equal. Meaning that something like a Million Dollar debt for some people would be a major burden but for others would be a minor inconvenience.
Our National Debt can be looked at in a similar way. Our debt today compared to our Gross National Product (Gross Domestic Product) and our true National wealth is nothing when compared to our debt during World War II.
To win that war we had to make big sacrifices in life, time, and property. We had to do the same to win the Cold War (WWIII) and we will have to do the same to win the present war. Regardless of what you call it, WWIV or the War on Terror or Islamofascism we have to win it and more public debt may be one price or sacrifice we have to pay.
You will have to answer your own question.
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Heck, I don't know; Back in 86 when I was a lot smarter than I am now (I even wrote, co-produced and co-hosted a weekly business show for a regional CBS affiliate), I was preaching that the stock market was too high way back then.
It has bothered me every since then that I was so wrong in my analysis.
But maybe I wasn't wrong; I was just ahead of my time, and recognized the underlying problems; it was just that'they' were just so skilled at manipulating the market that 'they' kept building a taller and taller skyscraper for 20 years while the entire foundation rotted.
Without the lower 48, is it possible to sustain life as we know it up there? I mean can you grow a garden an all of that? What if U.S. aircraft did not deliever goods to your area? I don’t see any reason to clam up.
Has the Recession Started?
http://seekingalpha.com/article/67765-has-the-recession-started
Dollar Declines on Concern U.S. Economy Entering a Recession (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aY2IVgcoGNOg&refer=home
Yes but today we don't want to declare war, draft, ration, sell War Bonds, and put Rosie the Riveter in the factories. Afterwards we created the post-war industries with jobs to provide exports to the world. Today we make war on words and rally the nation with 'shop till you drop' and after you drop we will borrow some more money from China and mail you a stimulus i.e. 'booster shot' to mall some more.
Not an insignificant amount of irony that you posted that on an internet bulletin board.
Massive Oil Deposit Could Increase US reserves by 10x
http://www.nextenergynews.com/news1/next-energy-news2.13s.html
2008-02-16
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and
Venezuelan threats of disrupted supply irrelevant.
In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal
drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated
400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel.
It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.
The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.
We're not in recession...slower growth yes.
Weak politicos and Enviro wackos are COMPLETELY responsible to stopping ANWAR, coastal drilling, coal, nucleur, and pushing ethanol which is seriously inflating most foodstuffs. Each has hurt us economically and it'll get worse until someone stands up.
I suspect this will become a hot political issue, since it's our pocketbooks we're talking about. Maybe it'll push McCain off his global warming stance.
Did I mention the relaxed lending standards imposed by Congress to be sure that EVERYONE had access to home loans? Unintended consequences.
The price of pampers could double if everyone wets themselves as bad as this guy
Actually the ‘quality’ of the oil is significantly better than the ‘sour’ oil we currently buy from Venezuela, which we refine here in the US. The technolgy already exists to refine such oil, the Chevron process is just better in terms of producing higher quantities of the things we use, such as gasoline. North Korea for ezample uses heavy crude for their country, which is less refined and thus less efficient.
Have you noticed that every time we threaten to invest in new technology or drill in ANWAR, Opec lowers prices? They're discouraging competition whenever they can. Which reminds of the Escalante oil shale fields in the southern Rockies deemed a national monument by Slick Willy, in exchange for campaign contributions perhaps?
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