This Author may not have this right, only reading what a Columnist has said; but if it is true, it inspires One. India finally allowed International combines to buy wheat from private farmers, previously limited to Government-controlled transactions last year. This year they find about a 12% rise in Wheat price, a 22% rise in Atta flour price, and a shortfall in Wheat purchases for their Welfare assistance program, so they are violating their own Pesticide regulations to buy Wheat from the Internationals at even higher Prices for Wheat. The interesting fact is the Indian Government refusal to raise the Prices they offer to their own farmers for Wheat. Did I miss something here?
This sounds like another George W. Bushism on Free Trade!
It is a fundamental tenet of the Bush administration that any Trade deal which increases Corporate Profits is wonderful Free Trade, while any infringement on Corporate Profits remains an adulterous Trade barrier. We all remember Bush and Republican Congress forbidding bulk volume negoitiations being used by the Social Security Administration to fund the Proscription D program, fearing the American Workers might only have to pay half of the projected Cost; eliminating the huge Corporate Profits involved. There still is no National Energy Board as sole Importer of Energy resources; such a Board might even be able to dictate Prices to Oil Producers and Oil Companies. George W. Bush stands in the breach, protectioning international Corporate profits.
Some Economist should do a Study, lucky that I am very lazy, studying the P/E ratios and total growth of numerial Stock volumes; to determine how much increase of Product Price/Unit was needed to maintain the P/E ratios now as versus ten years ago. Such an investigation will allow Us to understand how much higher such Profits have to rise, in order to maintain the P/E ratios. A single Worker could support a Family of Four in 1960 by working some 40 hours per week; now the said Worker cannot even pay for the medical insurance, let alone the Mortgage, Utilities, Taxes (remember Property, Sales, Excise, and Income), and Food; forget about Entertainment and Savings. Now I have figured it out: You have to possess $2 million in Stocks, Profits protected, in order to survive. lgl
Friday, June 30, 2006
Thursday, June 29, 2006
The Hypobole
Some articles today highlighted George W. Bush's anger at Newspaper revelation of Federal pursual of financial records of Americans in the War on Terror. This Author will go on Record here, and claim it is all demogogue hyperbole. The Federal Government never hid its desire to track the Money behind al Queda. Second, al Queda itself must be an Intelligence network, as it is engaged in subversion. They keep track of Money flows themselves, and trinanglate the pattern of arrests. They recognize when Money is being tracked, as they are searching for it, faster than Anyone except the American Tracking agents. al Queda will also move its real funds through sympathic financial institutions which will not accept American subpena power. Bush was only angry because the American Public was informed.
The American Public is getting tired of the hyperbole, especially the idiocy which is keeping Oil Prices high. Oil Spot Markets make up very little in total volume of Oil transferred, yet Oil Producers use this hyperbole to demand higher-priced Longterm Contracts for Oil Supply. The functional limit states probably less than $100 million per Trading Day is needed to corner the Spot Markets Worldwide, and most or all funds used can be recouped by Oil sales to Speculators. It is how Oil Producers extort another $20/barrel from American Consumers in the supply of Oil.
American Oil companies should be forewarned of the American reaction, when the Public realizes they are being had. Oil Producers reside elsewhere, but American Oil companies must do business here. Americans react very negatively to fraud and extortion. It is a pity that We currently have a Political and Corporate leadership who are stupid enough not to fear American anger. lgl
The American Public is getting tired of the hyperbole, especially the idiocy which is keeping Oil Prices high. Oil Spot Markets make up very little in total volume of Oil transferred, yet Oil Producers use this hyperbole to demand higher-priced Longterm Contracts for Oil Supply. The functional limit states probably less than $100 million per Trading Day is needed to corner the Spot Markets Worldwide, and most or all funds used can be recouped by Oil sales to Speculators. It is how Oil Producers extort another $20/barrel from American Consumers in the supply of Oil.
American Oil companies should be forewarned of the American reaction, when the Public realizes they are being had. Oil Producers reside elsewhere, but American Oil companies must do business here. Americans react very negatively to fraud and extortion. It is a pity that We currently have a Political and Corporate leadership who are stupid enough not to fear American anger. lgl
Wednesday, June 28, 2006
Interesting Posts
New Life for the Good Old S-Corp hipes for a new bill in the House of Representatives which would alter the mandated regulations of S-Corporations. The basic amendments would allow for unfettered use of passive income, issue preferred Stock, and grants alien nonresidents right to participate in organization of S-Corporations. Guess What? These are the very necessities required to turn S-Corporations into Holding Companies at a lower rate of taxation than normal Corporations. Our dear Legislators at work!
Tax Tradeoffs by Mark Thoma outlines how Our Republican Congress is attempting to cut Domestic programs through passage of the Gregg bill. It might be long, but worth the time of reading it, when One understands the Republicans propose to fund actual Deficit Spending by avenue of eliminations from Domestic programs, this to the tune of over $200 billion per year some time after Bush leaves Office. The Republicans are working hard to entrench Tax Cuts which should never have been passed in the first place, and make poor Americans pay for them.
The real humor of the situation lies in American refusal to denude the Domestic programs on which all Americans depend. Republicans cannot stop angry Americans from coming after the Cash with simple Paperwork--even if they call it law. I herein do propose a new Alternate Alternate Minimum Tax which states simply no American can claim any Tax reduction which allows him to pay less Tax than any Taxpayer making less Income from any Source has been made to pay. Required Make-up payments to be paid the following Year, without deduction of such as Expense. A flat tax will be assessed to all Aliens nonresidents who make Income in the United States of 30%. Resident Aliens to be taxed as Americans. Republican should back off their attack upon the Welfare of the American people, lest they endure real injury. lgl
Tax Tradeoffs by Mark Thoma outlines how Our Republican Congress is attempting to cut Domestic programs through passage of the Gregg bill. It might be long, but worth the time of reading it, when One understands the Republicans propose to fund actual Deficit Spending by avenue of eliminations from Domestic programs, this to the tune of over $200 billion per year some time after Bush leaves Office. The Republicans are working hard to entrench Tax Cuts which should never have been passed in the first place, and make poor Americans pay for them.
The real humor of the situation lies in American refusal to denude the Domestic programs on which all Americans depend. Republicans cannot stop angry Americans from coming after the Cash with simple Paperwork--even if they call it law. I herein do propose a new Alternate Alternate Minimum Tax which states simply no American can claim any Tax reduction which allows him to pay less Tax than any Taxpayer making less Income from any Source has been made to pay. Required Make-up payments to be paid the following Year, without deduction of such as Expense. A flat tax will be assessed to all Aliens nonresidents who make Income in the United States of 30%. Resident Aliens to be taxed as Americans. Republican should back off their attack upon the Welfare of the American people, lest they endure real injury. lgl
Special Case of Keynes
A sweet young lady asked me today 'What was Keynesian Theory?' I responded with the old adage that if you don't know what boxing gloves are, you don't know Boxing. I've decided this was probably a rude response, though I still would suggest the lady keep her Day job as a Surgical Nurse. Still, there exists the compulsion to explain this major element of Economics.
Keynes witnessed the huge loss of economic activity from the Great Depression, and proposed Government restart economic activity by deficit spending. Well and Good, that is simple enough. But the Truth states that it isn't. Keynes was never satisfied with this Solution, then or for the rest of his life. Politicians and Business leaders took the Concept and ran with it, without bothering for deep research; this because the Theory meant Votes and Profits for themselves.
No one understood except Keynes, and possibly only this Author, that deficit Government spending to spur economic activity was a Special Case Scenario. Deficit Spending had beneficial effect if and only if there was sharply reduced economic activity, with utilization of economic resources below a level of Say: 70% utilization. At economic resource utilization above this reduced baseline, the Government would be in direct competition with the Private Sector for economic resources: an automatic Inflation generator.
Inflation from this activity could only be stunted by reduced Government Spending, or by raising Tax Rates to bring Government Budgets in balance. The Government Deficit creates an additional Inflation factor as Government bonds begin to imitate Money, but funds whose value has already been spent once by Government, but has draft again by the Private Sector. This artificial Money Supply forestalls a retreat from inflationary pricing until such time as the Private Sector has eradicated the false Draft on resources by Consumption or alternate Investment.
Tax Cuts which produce Government Deficits do not generate economic activity above baseline utilization of economic resources, they only produce longterm Inflation. It is the reason why there has been no Deflation since the Great Depression, not the extension of Consumer Credit--though the later does generate Inflation. lgl
Keynes witnessed the huge loss of economic activity from the Great Depression, and proposed Government restart economic activity by deficit spending. Well and Good, that is simple enough. But the Truth states that it isn't. Keynes was never satisfied with this Solution, then or for the rest of his life. Politicians and Business leaders took the Concept and ran with it, without bothering for deep research; this because the Theory meant Votes and Profits for themselves.
No one understood except Keynes, and possibly only this Author, that deficit Government spending to spur economic activity was a Special Case Scenario. Deficit Spending had beneficial effect if and only if there was sharply reduced economic activity, with utilization of economic resources below a level of Say: 70% utilization. At economic resource utilization above this reduced baseline, the Government would be in direct competition with the Private Sector for economic resources: an automatic Inflation generator.
Inflation from this activity could only be stunted by reduced Government Spending, or by raising Tax Rates to bring Government Budgets in balance. The Government Deficit creates an additional Inflation factor as Government bonds begin to imitate Money, but funds whose value has already been spent once by Government, but has draft again by the Private Sector. This artificial Money Supply forestalls a retreat from inflationary pricing until such time as the Private Sector has eradicated the false Draft on resources by Consumption or alternate Investment.
Tax Cuts which produce Government Deficits do not generate economic activity above baseline utilization of economic resources, they only produce longterm Inflation. It is the reason why there has been no Deflation since the Great Depression, not the extension of Consumer Credit--though the later does generate Inflation. lgl
Tuesday, June 27, 2006
Income Tax v. Consumption Tax
I hope Greg Mankiw does not think I am picking on him, or trying to start some Internet war. The Above Post by him is very well written, and unaffected by future events, it would seem likily that Consumption taxes were the way to go. I have some difficulty with it.
Procivility forecasting would suggest that Income Taxes possess almost Six times the suppression of Tax rates, than do Consumption taxes which blend with the Cost of Products, and can be raised without wide Public notification. The suggestion of doubling the Savings rate with the use of Consumption taxation lacks for credence, with the standard practice of Retail raising of Prices to maximize Profit margins, plus the nuevo-rich complex. Negative pressures suggest taxation would increase, be more regressive, and apply Inflationary pressure to complementary taxes such as Property and Excise taxes.
Graphs do not make an Economy, and Tax formulas do not make good or fair Tax policy unless all pressures are considered. lgl
Procivility forecasting would suggest that Income Taxes possess almost Six times the suppression of Tax rates, than do Consumption taxes which blend with the Cost of Products, and can be raised without wide Public notification. The suggestion of doubling the Savings rate with the use of Consumption taxation lacks for credence, with the standard practice of Retail raising of Prices to maximize Profit margins, plus the nuevo-rich complex. Negative pressures suggest taxation would increase, be more regressive, and apply Inflationary pressure to complementary taxes such as Property and Excise taxes.
Graphs do not make an Economy, and Tax formulas do not make good or fair Tax policy unless all pressures are considered. lgl
Geoengineering
A Concept which will have its Day, even though initial efforts seemed doomed to failure. Industry provides sufficient sulfide pungeate to the atmosphere to provide Sunlight reflection, if this avenue were capable of success. The idea of counteracting the effect of one Greenhouse Gas by artificial injections of another Greenhouse Gas is novel but impractical; it leading only to greater concentration of Greenhouse Gases as Smokestacks and Cars continue to operate. Geoengineering is only going to work based upon defined premises and resultant planning.
Where is the Problem?
The World Economy digs up Carbon deposits, and burns those deposits for Energy. The World needs an alternate Energy source. The buildup of Carbon on the surface of the Earth must be stopped, as oversupply of Carbon literally chokes all life in every form. The problem is not Global Warming per sec, but the buildup of Carbon; We need to stop the draft upon subsurface Carbon deposits.
Then, is Ethanol the Solution?
The Answer is Never. Complete conversion to ethanol fuels would literally eat up the World's Food Supply, by consuming the acreage planted for human food. It does provide Insight, though, leading People to understand Our energy resources must be produced by the Surface of the Earth. Heat, if not over-extreme, helps to generate greater Plant life; the basic Reoxigenator of the planet. Plant life is also the basic venue to return Carbon deposits to the Earth. Any new alternate Energy resource must rely on Plant product on the surface to fulfill all needs of geoengineering.
This Author has proposed the production of liquid Plastic explosive, designed to be less dangerous than Gasoline or Diesel fuels, but produced at equivalent Prices with much less necessary volume and much higher MPG. Earlier, I had proposed huge Algae tanks in oceans, contents to be used as base Product for the refining of fuel; utilizing added Sunlight absorption, while cooling the Oceans to bring less violent Weather patterns. These appear to this Author far more needful of Funding, than either spread of Greenhouse Gases, or burning Carbon emissions reduction. lgl
Where is the Problem?
The World Economy digs up Carbon deposits, and burns those deposits for Energy. The World needs an alternate Energy source. The buildup of Carbon on the surface of the Earth must be stopped, as oversupply of Carbon literally chokes all life in every form. The problem is not Global Warming per sec, but the buildup of Carbon; We need to stop the draft upon subsurface Carbon deposits.
Then, is Ethanol the Solution?
The Answer is Never. Complete conversion to ethanol fuels would literally eat up the World's Food Supply, by consuming the acreage planted for human food. It does provide Insight, though, leading People to understand Our energy resources must be produced by the Surface of the Earth. Heat, if not over-extreme, helps to generate greater Plant life; the basic Reoxigenator of the planet. Plant life is also the basic venue to return Carbon deposits to the Earth. Any new alternate Energy resource must rely on Plant product on the surface to fulfill all needs of geoengineering.
This Author has proposed the production of liquid Plastic explosive, designed to be less dangerous than Gasoline or Diesel fuels, but produced at equivalent Prices with much less necessary volume and much higher MPG. Earlier, I had proposed huge Algae tanks in oceans, contents to be used as base Product for the refining of fuel; utilizing added Sunlight absorption, while cooling the Oceans to bring less violent Weather patterns. These appear to this Author far more needful of Funding, than either spread of Greenhouse Gases, or burning Carbon emissions reduction. lgl
Monday, June 26, 2006
Free Communications
This Author was feeling excessively happy this Day, before he found more Defibulator/Pacemakers were to be recalled; he having been the recipient of one state of the art contraption in January. I decided it would take a pleasant thought pattern, to readjust the karma. It was found in an article in the NYTimes about municipal network servicing.
We remain addicted to the Cash-Cow mentality associated with modern Communications. Huge Fortunes have accurred from the Tech industry, and an entire new industry has functionally sprung into existence over the last quarter Century. Investors has shivers close to orgaism at hearing of a new piece of Hardware or Software. Even staid Bankers plunge billions of Dollars into projects which could match Windows, Coral, or Adobe. Investment Groups still prefer dealing in Tech Stocks more than Oil, this due to the potential higher longterm Profits. Anyone up for some Time/Warner stock?
But what if Communications were free?
Municipal Services provide Water, Sewer, Garbage Disposal, as well as law enforcement, Landscaping and Maintenance, Community Health Care, etc. There is an Opprotunity Cost here! Soon there will be an almost total switch to Wireless Communications. The Cost of providing Wireless services for Communications will be negliable in provision to other Services provided by Municipalities. Economists will tell People there exists specific economic models to determine whether Products and Services are better provided by the Public sector or the Private sector. Wireless Communications could be the venue for vast Opprotunity Savings.
Would it not be great to have Cable, Phone, and Internet Access paid by Property taxes? There would be a huge removal of Private Sector Profit-taking from successive steps in the Communications process. Municipalities could negotiate Group services at modified Wholesale rates. Cable Programing would have a Marketing constraint placed upon it, now seriously lacking. Phone Service Costs are currently much cheaper by Wireless than with landline, but Consumers pay much more; Wireless companies make their huge Profits from Sign-up Charges, imitating landline Hook-up Costs, where no real Hook-up Costs exist. Going Wireless and Municipal may be the way to go. lgl
We remain addicted to the Cash-Cow mentality associated with modern Communications. Huge Fortunes have accurred from the Tech industry, and an entire new industry has functionally sprung into existence over the last quarter Century. Investors has shivers close to orgaism at hearing of a new piece of Hardware or Software. Even staid Bankers plunge billions of Dollars into projects which could match Windows, Coral, or Adobe. Investment Groups still prefer dealing in Tech Stocks more than Oil, this due to the potential higher longterm Profits. Anyone up for some Time/Warner stock?
But what if Communications were free?
Municipal Services provide Water, Sewer, Garbage Disposal, as well as law enforcement, Landscaping and Maintenance, Community Health Care, etc. There is an Opprotunity Cost here! Soon there will be an almost total switch to Wireless Communications. The Cost of providing Wireless services for Communications will be negliable in provision to other Services provided by Municipalities. Economists will tell People there exists specific economic models to determine whether Products and Services are better provided by the Public sector or the Private sector. Wireless Communications could be the venue for vast Opprotunity Savings.
Would it not be great to have Cable, Phone, and Internet Access paid by Property taxes? There would be a huge removal of Private Sector Profit-taking from successive steps in the Communications process. Municipalities could negotiate Group services at modified Wholesale rates. Cable Programing would have a Marketing constraint placed upon it, now seriously lacking. Phone Service Costs are currently much cheaper by Wireless than with landline, but Consumers pay much more; Wireless companies make their huge Profits from Sign-up Charges, imitating landline Hook-up Costs, where no real Hook-up Costs exist. Going Wireless and Municipal may be the way to go. lgl
Sunday, June 25, 2006
Income Inequality and Corruption
There were several good articles on Income Inequality, and some on Corruption--these focusing on India, in the Papers and on some blogs. Confrontation with the content led this Author to consider the Issues as two Sides of the same Coin. One NYTimes articles discussed how Income Inequality can accelerate due to increasing Wealth allowing for increased lobbying participation, to the End of lobbying Interests gaining a greater share of the Wealth. Corruption, as stated elsewhere, provides the greater danger; as the Poor and Middle Class face corrupt officials with their hand out.
But is Corruption the greater hazard?
Corrupt officials build their own Wealth by charging Appliciants an illegal fee, when they themselves are paid by the Government to provide those Services. Time Out! Government officials in said corrupt nations are paid much less in Salary than Our Government Employees, cognizant that the positions are valuable, due to the ability to generate Income (without Taxation) from Those requiring positional services. All are charged for Services, but Charges are often set by Ability to Pay; corrupt officials desireous of generating the greatest possible Income. Overall Taxes are lower because of the Corruption, there is a fluid on-site determination of finance charges in the bribe; and because of the nature of the payment, there is a degree of decentralization of Wealth, while business transaction Service can be relatively swift with the input of Cash.
Lobbyist political contributions express an observable opposite effect. Contributions will not register with the Bribe-Taker if they are insufficiently large, and all activity directed to Service of the Client needs will be predicated by the amount given. Lobbying funds will not guarrantee Service, the official claiming he must acquire consensus among colleagues, which can often translate into looking for a better Offer. Service lacks assured fulfillment, officialdom will not turn down any Contribution whether he will actively pursue the Service or not, and the entire effort stands useless unless One can outbid the Opposition. Only the Wealthy can participate effectively, and the entirety is a pursuit of centralized Wealth.
Bribe-Giver and Bribe-Taker both face severe Penalty if caught (requiring Public opposition to the Service provision). Corruption does not alter the Tax structure, so both Participants face Taxation if the excess Funds are observed. Political Contributions enjoy Tax immunity, a Policy which is counterproductive to an efficient Tax structure; One should be taxed for the right of preferred political participation and access. Corruption may be evil, but it is an effective system; this known by its longevity. No One in their right minds can consider the Lobbyist system to be effective or beneficial. lgl
But is Corruption the greater hazard?
Corrupt officials build their own Wealth by charging Appliciants an illegal fee, when they themselves are paid by the Government to provide those Services. Time Out! Government officials in said corrupt nations are paid much less in Salary than Our Government Employees, cognizant that the positions are valuable, due to the ability to generate Income (without Taxation) from Those requiring positional services. All are charged for Services, but Charges are often set by Ability to Pay; corrupt officials desireous of generating the greatest possible Income. Overall Taxes are lower because of the Corruption, there is a fluid on-site determination of finance charges in the bribe; and because of the nature of the payment, there is a degree of decentralization of Wealth, while business transaction Service can be relatively swift with the input of Cash.
Lobbyist political contributions express an observable opposite effect. Contributions will not register with the Bribe-Taker if they are insufficiently large, and all activity directed to Service of the Client needs will be predicated by the amount given. Lobbying funds will not guarrantee Service, the official claiming he must acquire consensus among colleagues, which can often translate into looking for a better Offer. Service lacks assured fulfillment, officialdom will not turn down any Contribution whether he will actively pursue the Service or not, and the entire effort stands useless unless One can outbid the Opposition. Only the Wealthy can participate effectively, and the entirety is a pursuit of centralized Wealth.
Bribe-Giver and Bribe-Taker both face severe Penalty if caught (requiring Public opposition to the Service provision). Corruption does not alter the Tax structure, so both Participants face Taxation if the excess Funds are observed. Political Contributions enjoy Tax immunity, a Policy which is counterproductive to an efficient Tax structure; One should be taxed for the right of preferred political participation and access. Corruption may be evil, but it is an effective system; this known by its longevity. No One in their right minds can consider the Lobbyist system to be effective or beneficial. lgl
Saturday, June 24, 2006
Price Gouging
Greg Mankiw has a Post "Salinger on Price Gouging" which should be read before recourse to my maligning (or is that malignant) statements. The Oil industry has an amazing history, most noted for supplying any volume of fuel demanded, at any Price existent at any time, while finding no losses or Price Gouging at any time; a simply amazing feat considering the Price of Gasoline has varied in my lifetime from $.179 per gallon to $3.269 per gallon. Volume has been known to vary as well, though generally upward, but Volume supplied nevertheless, whether the price was less than a Dollar, or more than $3 per gallon.
Here is the Rub:
If the Oil industry is able to produce a given volume of Gasoline at $3/gallon, and can provide an equivalent volume of Gasoline at $1/gallon; how does the Oil industry expense increase so rapidly as to eliminate Price Gouging as the Price of Gas advances to $3/gallon? Are the Gas Companies truly hiding their losses when the Price of Gasoline is Low, to keep Consumers and Stockholders from fright? Maybe Oil Companies are all Share Cooperatives, whose Employees wait until Product Price is high enough to draw Wages. Maybe it is simply that Company Executives await high Prices to draw their Pay Packages?
It could be, of course, that the Oil industry may utilize Creative Accounting, whose entire Job is to hide Profits whereever and however possible. This is said in Good Spirit, not attempt at dafamation of character, or suggestion of Tax Fraud. It must be reinterated that these Good Citizens, a group who trained and honed our current illustrous President, could not be engaged in ethical malfesiance--so help me, Cheney. lgl
Here is the Rub:
If the Oil industry is able to produce a given volume of Gasoline at $3/gallon, and can provide an equivalent volume of Gasoline at $1/gallon; how does the Oil industry expense increase so rapidly as to eliminate Price Gouging as the Price of Gas advances to $3/gallon? Are the Gas Companies truly hiding their losses when the Price of Gasoline is Low, to keep Consumers and Stockholders from fright? Maybe Oil Companies are all Share Cooperatives, whose Employees wait until Product Price is high enough to draw Wages. Maybe it is simply that Company Executives await high Prices to draw their Pay Packages?
It could be, of course, that the Oil industry may utilize Creative Accounting, whose entire Job is to hide Profits whereever and however possible. This is said in Good Spirit, not attempt at dafamation of character, or suggestion of Tax Fraud. It must be reinterated that these Good Citizens, a group who trained and honed our current illustrous President, could not be engaged in ethical malfesiance--so help me, Cheney. lgl
Friday, June 23, 2006
The Heat
We received another dose of World warming from the Scientists this Week, but while attaining Air play, it was provided with little reaction. Why? The real determinant comes in the lack of direct link between Greenhouse Gases and the Warming. This Author has probably generated an immediate ire in his Readership. Still, some facts should be recorded.
1) The Earth has been this warm before, and Scientists can still debate whether it has ever been near the Heat projected for the next Century. One notes a paucity in descriptive material as to the Weather effects of previous Heat Periods.
2) No One has given an effective Proof that the current Heat Period is Man-caused, or more than a normal Earth cycle.
Many Readers may think I am particularly dense in nonacceptance of Scientific data, but in actuality, the data coming through seems more propaganda than information. The data compilation on Heat Centers seems a better criterea field, than Ice cores drilled in the Antartic. The Heat Centers (human density centers) feels like a more contributive factor than does overall Heat. These are affecting Wind patterns along with High and Low Pressure systems. I believe that these Heat Centers, not warmer North Pacific waters, holds the key to Drought conditions in the Southwest. Continuous human density along Our Coastlines may interrupt normal Moisture flows into the hinterland.
This Author has written previously on Fresh Water depletion, and believes Moisture ingress patterns should take highest priority, over Ice core studies and mid-Ocean temperature sampling. We do not need to know today what Weather will be like in a Century, but finding a methodology to get Water to Cattle now appears important. lgl
1) The Earth has been this warm before, and Scientists can still debate whether it has ever been near the Heat projected for the next Century. One notes a paucity in descriptive material as to the Weather effects of previous Heat Periods.
2) No One has given an effective Proof that the current Heat Period is Man-caused, or more than a normal Earth cycle.
Many Readers may think I am particularly dense in nonacceptance of Scientific data, but in actuality, the data coming through seems more propaganda than information. The data compilation on Heat Centers seems a better criterea field, than Ice cores drilled in the Antartic. The Heat Centers (human density centers) feels like a more contributive factor than does overall Heat. These are affecting Wind patterns along with High and Low Pressure systems. I believe that these Heat Centers, not warmer North Pacific waters, holds the key to Drought conditions in the Southwest. Continuous human density along Our Coastlines may interrupt normal Moisture flows into the hinterland.
This Author has written previously on Fresh Water depletion, and believes Moisture ingress patterns should take highest priority, over Ice core studies and mid-Ocean temperature sampling. We do not need to know today what Weather will be like in a Century, but finding a methodology to get Water to Cattle now appears important. lgl
Thursday, June 22, 2006
Economic Indicators
There has been some Market volitility today, because of reportage of some Economic Indicators have shown a downturn, foreshadowing a potential slowing of economic performance. There is senseless positioning in response to these Indicators, and this Author feels compelled to provide some Insight (probably wrong).
1) Economic Indicators are compiled by Economists, who have a vested Interest in the provision of good numbers. Poor performance is universally from the high end (the least impactual set which can be reported), while economic performance of sharp acceleration (of potential high Inflationary factors) are reported from the low end (again the least impactual set which can be reported honestly).
2) Economic Indicators must align (all going the same way) for successive periods (the number of Periods, mainly Months, depends upon the uniform spread of the numbers) for a discernable Trend to develop. It is only when a Trend develops, that Market transaction decisions based upon Economic Indicators are truly valid.
3) Economic Indicators remain basically based upon Business Management decisions in Production, Distribution, and Sales. It is these decisions which determine the numbers which will later set the Economic Indicators. Business Management decisions vary dramatically over the Short-term, necessitating the arrival of Trends before effective judgements can be made.
Economics stands as the study of Long-term economic performance. One should be wary, but not scared, of the Preliminaries of the Game. lgl
1) Economic Indicators are compiled by Economists, who have a vested Interest in the provision of good numbers. Poor performance is universally from the high end (the least impactual set which can be reported), while economic performance of sharp acceleration (of potential high Inflationary factors) are reported from the low end (again the least impactual set which can be reported honestly).
2) Economic Indicators must align (all going the same way) for successive periods (the number of Periods, mainly Months, depends upon the uniform spread of the numbers) for a discernable Trend to develop. It is only when a Trend develops, that Market transaction decisions based upon Economic Indicators are truly valid.
3) Economic Indicators remain basically based upon Business Management decisions in Production, Distribution, and Sales. It is these decisions which determine the numbers which will later set the Economic Indicators. Business Management decisions vary dramatically over the Short-term, necessitating the arrival of Trends before effective judgements can be made.
Economics stands as the study of Long-term economic performance. One should be wary, but not scared, of the Preliminaries of the Game. lgl
Wednesday, June 21, 2006
Beef, Drugs, and Oil
American beef is scheduled to return to Japanese Retail markets, and Mike Johann's claims Japan will not reinstate any Country-wide ban again; will retain only the power to reject individual shipments of beef. This concession comes only after the fear of American retaliation against Japanese Products became real. The real weight of American Trade is what brought the concession, and Americans need to learn to use Our trade weight.
The AARP, backed by several other non-industry sources, announce a great Surprise: The Drug industry has boosted Drug prices some 3.9% in the First Quarter, the BLS reports of less than 2% mixing Brand-name and generics together to achieve the less inflationary numbers. The Drug industry feels armored, possessing the Proscription D provision that Medicare cannot negotiate volume-purchase agreements at better wholesale prices. This is Congressional prohibition of the use of trade weight. It only adds to the problems of Social Security funding, and does not help the Drug industry in the long-run.
The Saudi minister statement that the price of Oil could triple if the issue between the United States and Iran is not resolved peacefully is again a use of trade weight; it only complicates and solidifies the rogue Iranian position, and the Minister is not America's friend. The United States can live, and even produce, utilizing only 60% of the Oil We now consume; though We would not be friendly with Anyone in the World. This Author is tired of implied Threats being made against the United States.
A more intelligent Administration could work through quiet diplomatic efforts to resolve American trade issues with Our Trading partners. I find myself needful of again eroding Iranian desire to oppose the United States with repellent tirades. North Korea should also take heed. The effective Counter to the Saudi Statement: A 10-Day American Bombing pattern off U.S. Carriers would destroy the Iranian Export balance for 8-12 years. lgl
The AARP, backed by several other non-industry sources, announce a great Surprise: The Drug industry has boosted Drug prices some 3.9% in the First Quarter, the BLS reports of less than 2% mixing Brand-name and generics together to achieve the less inflationary numbers. The Drug industry feels armored, possessing the Proscription D provision that Medicare cannot negotiate volume-purchase agreements at better wholesale prices. This is Congressional prohibition of the use of trade weight. It only adds to the problems of Social Security funding, and does not help the Drug industry in the long-run.
The Saudi minister statement that the price of Oil could triple if the issue between the United States and Iran is not resolved peacefully is again a use of trade weight; it only complicates and solidifies the rogue Iranian position, and the Minister is not America's friend. The United States can live, and even produce, utilizing only 60% of the Oil We now consume; though We would not be friendly with Anyone in the World. This Author is tired of implied Threats being made against the United States.
A more intelligent Administration could work through quiet diplomatic efforts to resolve American trade issues with Our Trading partners. I find myself needful of again eroding Iranian desire to oppose the United States with repellent tirades. North Korea should also take heed. The effective Counter to the Saudi Statement: A 10-Day American Bombing pattern off U.S. Carriers would destroy the Iranian Export balance for 8-12 years. lgl
Tuesday, June 20, 2006
Republicans in Trouble
Republicans in the Senate turned back a Democrat attempt to establish a Committee to review military spending fraud (a like Committee brought Truman to prominance in the 1940s). The Republicans adopted the wrong option, one which will bit them in the rear. Misappropriation of Funds is going to kill the Republicans in the next Presidential election. Misuse of Katrina aid, military mishandling of Contract negotiation and management, Corporate malfesiance in Tax Return declarations, along with Republican ties to the Corporate structure, will wreak havoc come Election time. It will even be embellished that Bush had to cut the Corporate Tax rates simply to get Corporations to bring their Taxable Income home.
Historical study could assist Republicans in understanding exactly where the Threat exists. What Study? The Federalist Party disintegrated basically through their unethical support of Commercial and Business interests to the point that they were perceived as unpatriotic. People might suppose that the Republican Party has a much firmer position than the Federalist Party of bygone Age, but the Federalist Party was the victor of the Revolutionary War, held the Majority in Congress about as long as Republicans have, and actually presented a more sensible program of development than Republicans for American growth. Republicans cannot be seen as hiding Corruption in their own Ranks.
The next Presidential Election will be a crucible likely to destroy aged Parties. Bush will not get Us out of Iraq, having staked his political heritage upon a favorable Outcome there; an Ending seeming increasingly distant, especially if the level of violence does not decrease there. The exciting new Iraqi Government will not be as exciting in a year, without a reduction of the destruction. The Republican Tax initiatives will seem tarnished if Deficits rise, Import Prices increase, there is a disturbance in the International funding of the created Debt, or there is an increase in the rate of Inflation. Russian Steel and Latin American Energy is currently being brought by previous Purchasers of American Treasuries. All of the Above holds real impact for the American lifestyle, the Number One ingredient for the destruction of political Parties. lgl
Historical study could assist Republicans in understanding exactly where the Threat exists. What Study? The Federalist Party disintegrated basically through their unethical support of Commercial and Business interests to the point that they were perceived as unpatriotic. People might suppose that the Republican Party has a much firmer position than the Federalist Party of bygone Age, but the Federalist Party was the victor of the Revolutionary War, held the Majority in Congress about as long as Republicans have, and actually presented a more sensible program of development than Republicans for American growth. Republicans cannot be seen as hiding Corruption in their own Ranks.
The next Presidential Election will be a crucible likely to destroy aged Parties. Bush will not get Us out of Iraq, having staked his political heritage upon a favorable Outcome there; an Ending seeming increasingly distant, especially if the level of violence does not decrease there. The exciting new Iraqi Government will not be as exciting in a year, without a reduction of the destruction. The Republican Tax initiatives will seem tarnished if Deficits rise, Import Prices increase, there is a disturbance in the International funding of the created Debt, or there is an increase in the rate of Inflation. Russian Steel and Latin American Energy is currently being brought by previous Purchasers of American Treasuries. All of the Above holds real impact for the American lifestyle, the Number One ingredient for the destruction of political Parties. lgl
Sunday, June 18, 2006
Radical Solutions
This Author has been skipping through the Econroundtable tonight, studying the commentary of fellow bloggers. My mind slipped a gear again, and I decided to propound some psuedo-Communist, or maybe just pure anarchistic, ideas for betterment of life. I might have been inspired by the Becker interview to be controversial.
Radical Thoughts:
1) It does not matter whether Private Companies are underpaying for monopoly privileges for Toll roads in Indiana or anywhere else. The core of the matter is the loss of MPG in slowing all vehicles for payment of Tolls. Toll Roads are not Energy-Conservative.
2) PAYGO LAWS are always too technical to accomplish anything; simply inform all legislators by Constitutional amendment that their Salaries will be reduced by the same Percentage that the passed Budgets exceed Tax revenues.
3) LOBBYING power can be reduced by simple method: Set a limit which Campaigns can spend for each Contested Election. Voters would pray for a Campaign Budget allowance only granting Two TV political ads per Candidate per Week for only the Two weeks prior to the Election. The political Parties and PACs must also be controled, so every Ad must be attributed and paid by some Candidate's Campaign Budget under the Above restrictions. Who knows, Candidates might go back to listening to Voters!
4) Passage of a Law stating political campaign Contributions will be double-taxed, instead of exempted, could aid in passage of the Above restriction of Campaign Budget size.
5) A final Constitutional Amendment would state that all Tax exemptions, Deductions, Tax Credits, and Percentage rate of Tax must be repassed every Budget to retain validity.
This Author is feeling a trifle paranoid tonight, leading him to wonder if the assigned Assassination teams will have affiliation with Homeland Security, Defense, or only with Corporate Structure. It could be even more drastic, and no one will pay attention to this Post. lgl
Radical Thoughts:
1) It does not matter whether Private Companies are underpaying for monopoly privileges for Toll roads in Indiana or anywhere else. The core of the matter is the loss of MPG in slowing all vehicles for payment of Tolls. Toll Roads are not Energy-Conservative.
2) PAYGO LAWS are always too technical to accomplish anything; simply inform all legislators by Constitutional amendment that their Salaries will be reduced by the same Percentage that the passed Budgets exceed Tax revenues.
3) LOBBYING power can be reduced by simple method: Set a limit which Campaigns can spend for each Contested Election. Voters would pray for a Campaign Budget allowance only granting Two TV political ads per Candidate per Week for only the Two weeks prior to the Election. The political Parties and PACs must also be controled, so every Ad must be attributed and paid by some Candidate's Campaign Budget under the Above restrictions. Who knows, Candidates might go back to listening to Voters!
4) Passage of a Law stating political campaign Contributions will be double-taxed, instead of exempted, could aid in passage of the Above restriction of Campaign Budget size.
5) A final Constitutional Amendment would state that all Tax exemptions, Deductions, Tax Credits, and Percentage rate of Tax must be repassed every Budget to retain validity.
This Author is feeling a trifle paranoid tonight, leading him to wonder if the assigned Assassination teams will have affiliation with Homeland Security, Defense, or only with Corporate Structure. It could be even more drastic, and no one will pay attention to this Post. lgl
Immigration and Pigou
The NYTimes might not recognize it themselves, but they occasionally focus on one issue every Sunday; today being Immigration. Mexico seems to be enduring the same problems on their southern border, as the United States suffers along the Rio Grande. Another article in the Paper suggests 2nd Generation Immigrants do better than native Contemporaries of equal Age--higher Educational levels, etc. It may be time to apply Pigou positive and negative externalities to the issue of Immigration.
Watch as I blend this argument into a review of Pigouian analysis.
Arnold Kling has an excellent comment on The Pigou Club proposed by Greg Mankiw. I have only one reservation: I have heard the argument of positive and negative externalities numerous times, and have always come away unsatisfied with the conclusions. The negative externalities always seemed quite correct, but the argument for positive externalities has always failed in my judgement. The Former does not automatically imply the Later. It might only be an error in my own analysis, but I think the economic model needs to be reworked on a theoritical level. A detraction of worth does not produce a addition to worth when removed. lgl
Watch as I blend this argument into a review of Pigouian analysis.
Arnold Kling has an excellent comment on The Pigou Club proposed by Greg Mankiw. I have only one reservation: I have heard the argument of positive and negative externalities numerous times, and have always come away unsatisfied with the conclusions. The negative externalities always seemed quite correct, but the argument for positive externalities has always failed in my judgement. The Former does not automatically imply the Later. It might only be an error in my own analysis, but I think the economic model needs to be reworked on a theoritical level. A detraction of worth does not produce a addition to worth when removed. lgl
Saturday, June 17, 2006
Unions, Buyouts, and Pay Packages
What a way to start a Saturday!
'Video killed the Radio Starts' and Buyouts and Pay Packages killed the Unions. Neither Statement is true, but both hold some element of Reality. Stars had to acquire a visual presence, and Managers had to learn the elements of a Labor Market. No Demise had yet occured, at least, no funeral services have been held. Delta, though, may be attempting an adrenlin rush for the Pilot unions with its cancellation of Pension plans for Pilots--both active and retired. GM and Delphi may also be helping the crippled UAW with their Chip Shots to sidetrack gurranteed benefits. Union leadership, if not Union membership, should be grateful for the backhanded survival lines thrown by Corporate leadership.
Unions will again gain Power, as Corporate leadership destroys the Good Will of their own Employees. Buyouts started out being a good deal, but increasingly become parsimoneous with hidden addendums activating once the Labor rolls are split and disbursed. Unions should fill the void, by setting minimum standards for Buyouts and Pension alterations across the entire Economy--Workers still need an Advocate! lgl
'Video killed the Radio Starts' and Buyouts and Pay Packages killed the Unions. Neither Statement is true, but both hold some element of Reality. Stars had to acquire a visual presence, and Managers had to learn the elements of a Labor Market. No Demise had yet occured, at least, no funeral services have been held. Delta, though, may be attempting an adrenlin rush for the Pilot unions with its cancellation of Pension plans for Pilots--both active and retired. GM and Delphi may also be helping the crippled UAW with their Chip Shots to sidetrack gurranteed benefits. Union leadership, if not Union membership, should be grateful for the backhanded survival lines thrown by Corporate leadership.
Unions will again gain Power, as Corporate leadership destroys the Good Will of their own Employees. Buyouts started out being a good deal, but increasingly become parsimoneous with hidden addendums activating once the Labor rolls are split and disbursed. Unions should fill the void, by setting minimum standards for Buyouts and Pension alterations across the entire Economy--Workers still need an Advocate! lgl
Friday, June 16, 2006
Winter Canola and Frozen Lobster
The Associated Press had two articles today of much interest to an old Farm kid like me. The Whole Foods chain has stopped selling live Lobster and Crab, opting out for fresh kill or frozen crustesceans. The rationale: dropping the poor things in boiling water alive is cruel and inhumane. This may be a laudable sentiment, but mayhaps, some examination of killing methods may be in order. Submersion in boiling water (sudden thermal transference) by this Author's estimate, probably kills in less than 3 seconds with uniform invasion of heat. Decapitation is unworkable with the exoskeleton. Penetration by a pointed Object provides injury only to a specific locale, with a probable 2-minute interval before final nural cessation of impulse. Death by Freezing is a duration process requiring the slow drain of interior body heat, probably not less than 4 minutes in length. Whole Foods could well be condemning the poor creatures to an even more horrid and painful death. Comment should also be made on Corporate enterprise attempting to alter the dietary desires of Customers without their consultation; there is an element of monopolistic control of markets. The Menu might call for Antitrust action, and pass the melted Butter.
The article on Winter Canola provides a more righteous note: Farmers in southern and western Kansas finally finding a second crop to alternate with Winter Wheat, said rotation actually benefiting both crops, and each with a high Market value. Canola seed can make a good feed for livestock, and the Canola seed oil has potential as Cooking Oil and biodiesel base. The interesting element here lies in its potential as a biodiesel base, because it could turn States further north into double-Crop States with benefit for all Crops. This volume of biodiesel base could allow the United States to imitiate Brazil to a far greater degree than currently possible. And here it all started with something called Rapeseed weed. lgl
The article on Winter Canola provides a more righteous note: Farmers in southern and western Kansas finally finding a second crop to alternate with Winter Wheat, said rotation actually benefiting both crops, and each with a high Market value. Canola seed can make a good feed for livestock, and the Canola seed oil has potential as Cooking Oil and biodiesel base. The interesting element here lies in its potential as a biodiesel base, because it could turn States further north into double-Crop States with benefit for all Crops. This volume of biodiesel base could allow the United States to imitiate Brazil to a far greater degree than currently possible. And here it all started with something called Rapeseed weed. lgl
Thursday, June 15, 2006
Too Many Spin-Doctors?
The latest Inflation reports are bad, but not a total disaster; still, there should be some truth remaining in the data when the Day is finished. I have just read a NYTimes article which stated that year-over-year Core inflation was slightly over 2%. Resurrection of the CBS tag line: Reality Check--the Inflation rate was over 4%, and closer to 5%. Core Inflation figures cannot be utilized in year-over-year evaluations, when the Volitile Product prices have not changed direction, or reduced, over the interval year. Those that contest that We are not in 1966 should realize We are talking about 1967: Military expenditures equally as high, another new Welfare program initiated (Proscription D), a high Inflation rate, and Profit Margins having nowhere to go but down. Manufacturing Orders are up, Unemployment is still high but going down, Commodity prices slowly going down, and a Trade balance reminding of a Friday the 13th movie.
Lowering Unemployment will raise the CPI without much impact from Fed rate increases. Corporate Profit margins of high order will not spur Investment, but Consumption, if there is lack of high-Profit investment in a climate of Consumer belief in loss of purchasing power of the Dollar. Transfer of Government funds to Health Care provision (Proscription D again) will incite a new round of Health Care inflation. Automobile Prices will reverse almost immediately upon a upward trend in Auto Sales. Discussion of Core Inflation will soon be a Lame Duck economic issue.
The real curitive of Inflation is Taxation: a Subject opposed by both President and Congress, to say nothing of State Legislatures. Nothing else will curb Consumption, nothing else will limit Investment to high-Profit Capital ventures. Taxation is the Golden Calf, which Everyone wishes were Iron Pirite. lgl
Lowering Unemployment will raise the CPI without much impact from Fed rate increases. Corporate Profit margins of high order will not spur Investment, but Consumption, if there is lack of high-Profit investment in a climate of Consumer belief in loss of purchasing power of the Dollar. Transfer of Government funds to Health Care provision (Proscription D again) will incite a new round of Health Care inflation. Automobile Prices will reverse almost immediately upon a upward trend in Auto Sales. Discussion of Core Inflation will soon be a Lame Duck economic issue.
The real curitive of Inflation is Taxation: a Subject opposed by both President and Congress, to say nothing of State Legislatures. Nothing else will curb Consumption, nothing else will limit Investment to high-Profit Capital ventures. Taxation is the Golden Calf, which Everyone wishes were Iron Pirite. lgl
Wednesday, June 14, 2006
Interesting Chance
The Fed seemed destined to raise the prime rate again. The next Two months may be the time to evaluate what impact Interest rate increases has in actually raising the Inflation rate. It must be remembered that June and July are the two prime months for Household establishment, as Students leave High School, College, and Home for independent living. There should be a surge of Retail Sales to accomodate this leave-taking, and if there is not, it must be attributed as a drop in Retail Sales overall. Retail Sales were functionally flat in May. Under the condition that Retail Sales do stay equivalently flat (plus or minus 0.5% of Total Sales), then all Inflation must come from Core Inflation increases. Volitile Products in both the PPI and CPI must stay flat or decrease during the Period, in order to get a good picture on how an increase in Lending rates affect the real Inflation in both the PPI and CPI. It may be an excellent opprotunity for an economic model experiment in the total economy.
Conditions may be fortunate for this potential isolation of economic factors. Increase in Prices will be isolated solely to increases in Operational Costs, independent of Commodity increases. We can then isolate into Factor Costs for the Inflation. This will give Us some idea of the impact of Operational Funding Costs. We will have a sustaining force to maintain Sales, potential actual declining Commodity Costs, and isolatable Factor Costs. This may be an opprotunity for this author to prove the Fed prime has adverse pressure on Inflation, when the Prime rate is raised above 3.75%.
This Author has always contended the power of the Fed to control Inflation was constricted to a short range of prime rates between 2-3.75%. Rates set below 2%, or set above 3.75%, actually fueled Inflation; the former rate by generating excess economic activity, the later being itself an impulse pressure of Inflation due to its effects on Operating Costs. We might finally get a definitive answer to that Contention. lgl
Conditions may be fortunate for this potential isolation of economic factors. Increase in Prices will be isolated solely to increases in Operational Costs, independent of Commodity increases. We can then isolate into Factor Costs for the Inflation. This will give Us some idea of the impact of Operational Funding Costs. We will have a sustaining force to maintain Sales, potential actual declining Commodity Costs, and isolatable Factor Costs. This may be an opprotunity for this author to prove the Fed prime has adverse pressure on Inflation, when the Prime rate is raised above 3.75%.
This Author has always contended the power of the Fed to control Inflation was constricted to a short range of prime rates between 2-3.75%. Rates set below 2%, or set above 3.75%, actually fueled Inflation; the former rate by generating excess economic activity, the later being itself an impulse pressure of Inflation due to its effects on Operating Costs. We might finally get a definitive answer to that Contention. lgl
Tuesday, June 13, 2006
Unsettled Times
Did One notice there was little attempt to withdraw the volitile elements from the Core PPI mix today? The reading of 0.3% for May was bad, but even worse, it came from Core Prices with the volitile Prices declining or moving only marginally. Oil and Gas Reserves also happen to be at a 20-year high, while growth in American demand for Oil is expected to rise only 0.9% this Year; remember they still project a 4% growth rate for the Economy. We must be racing to Work on bicycles.
A piece of advise: Core prices has the tendency of being very sticky in comparison to volitile Prices, so don't expect Price reductions on Retail Goods anytime soon. New Hires are at a miserable rate, so We must all be at Work already (hint: the New Hire rate is at about 40% of the Labor Entrants rate). World Markets have followed the descent of American markets yesterday, so it could be interesting to follow the Subscription rate internationally to absorb new American Public and Private debt. I thinks George W. Bush's chickens are all coming home to roost at once (or is that Cows--Texas must be recognized, you know, though maybe George W. has forgotten).
The secret of success may be to end the Estate Tax and cut Capital Gains, but this Author has some doubts; but Bernacke may be influenced to raised Interest rates again. One cannot forget that Business Inventories are rising, except to Retail Goods. This Author has often speculated how many mistakes would have to be made, in order to recreate The Great Depression. Luckily, there are too many inplace mechanisms to allow for such a happenstance--I think. We might be in for a mild Recession, if Chinese demand for Oil declines because of lower Shipments to the United States due to loss of Consumer Demand. We might equally as well be in for the economic Boom of the Ages--well, I kind of doubt it. I've used IT'S A WONDERFULL LIVE before on this blog, haven't I? lgl
A piece of advise: Core prices has the tendency of being very sticky in comparison to volitile Prices, so don't expect Price reductions on Retail Goods anytime soon. New Hires are at a miserable rate, so We must all be at Work already (hint: the New Hire rate is at about 40% of the Labor Entrants rate). World Markets have followed the descent of American markets yesterday, so it could be interesting to follow the Subscription rate internationally to absorb new American Public and Private debt. I thinks George W. Bush's chickens are all coming home to roost at once (or is that Cows--Texas must be recognized, you know, though maybe George W. has forgotten).
The secret of success may be to end the Estate Tax and cut Capital Gains, but this Author has some doubts; but Bernacke may be influenced to raised Interest rates again. One cannot forget that Business Inventories are rising, except to Retail Goods. This Author has often speculated how many mistakes would have to be made, in order to recreate The Great Depression. Luckily, there are too many inplace mechanisms to allow for such a happenstance--I think. We might be in for a mild Recession, if Chinese demand for Oil declines because of lower Shipments to the United States due to loss of Consumer Demand. We might equally as well be in for the economic Boom of the Ages--well, I kind of doubt it. I've used IT'S A WONDERFULL LIVE before on this blog, haven't I? lgl
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