Complexity assures instability.
What Goes Up, Goes Up: How much is gasoline at the station nearest your house? Is it up from last month? Ah, thought so. Demand is on its way up – Chinese imports alone rose by 4.7 mbd in December, which is a 5% increase in world demand caused by just one consumer. There's only so much oil production to go around – more or less 86 mbd. If you want to get gasoline from one of the last of those barrels, be prepared to bid for it.
Lifelines: The Obama administration says that continuing to protect our access to petroleum will cost $741 billion next year – if we don't have to go slap Iran around.
Wait, Wait... The SEC is suing BofA for not disclosing that Merrill Lynch was losing $15.3 billion when it asked shareholders to approve the merger. Anybody else think their defense will be that Timmy boy told them it was okay?
Just Sayin'... China claims it has a say in the value of the dollar, and that the dollar has hit bottom. No wonder the Chinese are buying anything it can stockpile and that can't be devalued by Tim Geithner. Last year, China imported 14% more oil and 41% more iron-ore than in 2008. Some recession they're having.
Pitchfork Prevention: In an attempt to defuse the public's growing disgust and anger at Wall Street and Washington, Obama plans to levy fees on the 20 largest recipients of government largesse. It is just a PR move, but the public will be quieted. For a while.
Needs Spinach: Despite “strong” 3Q growth, Germany's 2009 output plunged 5%, which is hardly the sign of a strong recovery.
Report Card: Monsanto's GMO crops are fine as long as you don't need your kidneys or liver, and don't mind a little 'hepatorenal toxicity.' (Hepatorenal syndrome is a life-threatening medical condition that consists of rapid deterioration in kidney function - Wikipedia). Monsanto is currently seeking unemployed smoking/global warming deniers to assist in further research.
Now It Can Be Told: In what will come as an immense shock to people who used to live outside Crawford, Texas, a Dutch study has found that the US invasion of Iraq in 2003
was an illegal war of aggression which lacked legitimacy under international law.
Danger Zone: There is a growing danger that the myth of equal opportunity, the myth of upward mobility, and the myth that wide screen TV with surround sound will bring happiness are all in danger of collapse. People may even try to live a bit below their means and set some money aside for future wants, strange as such behavior may seem. After 30 years of treading water, those now entering the workforce will make even less in real terms than their grandfathers did in 1972. That's if they manage to get a job. And that job will pay 6% less for every percentage point the unemployment rate climbs. Visit your Army recruiter today.
A Quote: “I’ve always seen the war on terror as being in large part a war on liberals, a way to change the conversation away from things like competence in governing toward the undoubted conservative superiority at talking tough and striking heroic poses.”
The Talking Cure: Obama has set loose his minions to mislead the public into thinking he actually is going to tax the Wall Street banks for their ill-gotten gains. Sounds good, but show me the money, show me the money!
Rolling Along: The worst drought in 50 years is shutting down Venezuela's biggest hydroelectric plant, as the rivers dry up. Electricity will be cut for four hours on alternating days, in an attempt to keep the grid from collapsing. For once, it does not seem to be Chavez's fault.
Porn O'Graph: Bench-warmers fall off bench, the unemployed become ghosts.