Wednesday, July 01, 2009

Recession on the Road

Don’t you wish that Someone would get it Right? Acetaminophen is bad for your liver, and the Patient can easily Overdose; in 2005, American Consumers were given almost 28 billion doses of the stuff. Now comes a Panel which suggests a ban on Percocet and Vicodin, without any proposed replacement for the Painkillers. I first ask why in God’s name are so many people taking Painkillers; and secondly, Why are Doctors not ranting against the Drug addiction prevalent in American society. I believe it is only like unto the Madoff victims’ suit against the SEC, establishing the grounds for future lawsuits. Doctors avoid personal responsibility by suggestion that the federal government should act, while there is no action to take. I ride the rugged saddle of advocating a federal commission to ban legal action where no effective Judicial action could be determined; which would preclude Transfers of Cash based upon failure of common Public beliefs.

Dinner Theater for the Insane? Iraq wants to recapitalize its Oil industry, and Oil companies are unwilling to play. First, they want $4 a barrel just to pump Oil, then they will take $2 a barrel, but only want to develop a field already in production. I am not quite sure, but estimate this would leave Iraq producing less Oil than currently being pumped. The Situation leaves Iraq in worse position economically, than it was in under Saddam. The Oil companies want to forget the Oil Embargo of 1973, at least in the case of Iraq. Isn’t it a wonder How a business-oriented Country like the United States can develop such good relations with a nation like Iraq?

Business America is not any more gentle with their fellow Americans; consider this AIG performance. There was not even the suggestion that Stockholders should receive anything, though credit swap defaults need be totally repaid; no one could advance such a radical idea that business should suffer some of the loss themselves. I would advance the concept that Stockholders be paid 17% of Investment value by Stockholders upon purchase of the Stock from federal funds, just to bolster Public confidence in Investment. Claimants against the Company would get 71% of the actual purchase price of the Swaps purchased–a normal Profit loss ballpark for poor Investment decisions. Company and federal government should tell All that individual business decisions must bear some responsibility for poor business performance. lgl

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