SAR #10175

Peak Oil is not a problem: problems have solutions.

Schizophrenia:  Federal bribery to entice people to buy houses ended on April 30th. So did buying houses.  Sales of new single-family houses in May were down 33% from April's foolishness – the largest monthly drop on record, to the lowest level since records started back in 1963.  The market shrugged, realizing the real economy has nothing to do with what happens on Wall Street.

Economic Stimulus:  "Much of the region's businesses-particularly the hotels-have been prospering because so many people have come here from BP and other oil emergency response teams."  Another smiley face from BP.

Culling:  Japan failed to convince those who did not want to kill the whales that killing the whales was the best way to save the whales.

No News is Not News: The Fed is going to leave the fed funds rate unchanged - not because it is working, it's not - but because they don't have a choice.  Lowering the rate would require paying banks to borrow from them (which they are already doing) and raising the rate would upset the banks and the markets, so the Fed continues to be as useful as mammary glands on a boar.

Kiss and Tell:  How many failed states can you name?  (No points for sarcasm.)

Common Sense:  The folks who've done so well at government without taxation are having another go at demonstrating why democracy by plebiscite is such a bad idea:  There's a California ballot initiative that would suspend the states cap-and-trade law, much to the delight of the sponsoring oil firms. Economics before environment, like in Alabama, Mississippi and so on...

Mein Kampf:  David “See My Medals” Petraeus will be replacing his insubordinate subordinate.  Is this part of the general's 2012 campaign, or Obama's?

Theories Change:  Pension funds in both the US and Great Britain are trying to sue BP over their investment losses, blaming the losses on BP managements' poor decisions.  I thought that's what shareholder meetings were for.

Financial Innovation: All of the new and exciting financial innovations are quite easy to understand – they are new and better ways to pick your pocket.

Either / Or:  Either (1) Social Security is not part of the federal budget and has been loaning money to the federal budget for the last 25 years and as long as they hold US bonds, the US is obligated to make good their checks. Or (2) Social Security is part of the federal budget just like defense and education and such and will be funded out of taxes – including but not limited to payroll taxes.  Either way, (3) the checks will keep going out.