than you think. - Tom Friedman
Words of One Syllable: T. Boone Pickens says the current CFTC investigation into the evil speculators' manipulation of oil prices is "a waste of time." Pickens says "That's not what's happened. You have 85 million barrels a day of oil available and 86.4 million barrels a day of demand. So the price of oil is going to go up until you can kill demand.'' Or the messenger.
Pick A Number Between 1 And 31: Germany's former Foreign Minister Joschka Fischer claims that Israel will attack Iran’s nuclear facilities in time to get McClain elected as a war-time president. Can you say October Surpri.....
Inflated opinion: Economist Paul Krugman argues we don't have to fight inflation because we don't have the wage price sprial of the 70's. That's because the workers have been flogged sufficiently to know that if they ask for a raise their jobs will go to Jakarta. But if the prices go up and wages are stuck at 1967 levels, who the hell is going to buy the stuff?
Deny, Deny, Deny: NASA sees own shadow, admits sunshine happens. Also that it "marginalized or mischaracterized" studies on global warming due to "inappropriate political interference" by political appointees. It said that Bush's top appointees were not part of the censorship, and blamed the boys in the mail room.
Must vs. Can't: The UN says world food production must increase 50% by 2030 to meet increasing demand. The International Energy Administration says world petroleum production must increase 40% in the same time frame. My Doctor says I've got to lose weight, stop drinking and exercise.
The Odds : The newly delinquent outnumbered those who caught up on their overdue house payments by two to one last month. Foreclosure filings surged 65 percent and bank seizures more than doubled in April compared with a year earlier.
Fine Print: In a story about Russian oil production falling a 0.7% last month, the important data was buried in paragraph 27 or so: Russian exports have dropped 5% from the previous year. Exports are what the US imports.
Inconvenient Facts: Economists keep trying to build a moat around the idea that markets are based on information and that the "best use" of resources is determined by market forces. Reality keeps ruining their neat little models; greedy gullible investors and customers simply don't know how to behave.
Yes, Arnold. No! GM is shutting down four truck and SUV plants as they scurry about trying to stay in business. The Hummer may be under the hammer, too.
Pandering: The Vice President has decided it is time to begin tidying up, so the government has put out a report saying that we could get 19 billion barrels of oil if his friends could drill in national parks and other public lands.
Conundrum: The West say: "You can't have what we have, it'll ruin the planet." The Rest say "We deserve the same lifestyle!" If you can find an equitable, workable solution to this debate, send it and $25 to the usual address.
Squeeze Play: Open 'put' interest in Lehman Brothers' puts looks like a lot of folks think they can make a lot of money when Lehman's goes under. Either Lehman Brothers or those betting against it are running out of time.