Markets will do whatever it takes to screw the most people.
State Of Play: On behalf of would-be shale oil drillers, the Pennsylvania Office of Homeland Security is tracking anti-gas drilling groups and their meetings, including citizens foolish enough to attend a public showing of a documentary about the environmental hazards of natural gas drilling.
His Master's Voice: Treasury Secretary Timothy Geithner has met more often with Goldman Sachs CEO Lloyd Blankfein than with Congressional leaders. Any questions?
Suspected US drones kill 13 Unless someone else has taken to sending drones to drop missiles in Pakistan, the US killed 13 more “suspected terrorists”, after killing 5 on Sunday and a total of 29 last week. Sudden death, without warning, out of the sky in a country not at war with the attackers... sounds vaguely familiar.
Facelift: The folks getting rich making obesity ubiquitous want to re-brand HFCS (high-fructose corn syrup) "Corn Sugar". It'll still make you fat, but they'll feel better about it.
Supply/Demand: One of the problems in applying standard economics to petroleum is that their school solution says that rising prices caused by demand outstripping supply will (a) decrease demand and (b) increase supply. Tell that to the guy who needs a tank of gas to get to work. Tell that to BP and friends, who have discovered only 10 billion barrels a year while we have been using 30 billion barrels. “This is crucial to understanding oil markets in the years to come,” according to the IEA.
Money Quote: "We are managing to a view that home prices are more likely to be headed down rather than up." - Capital One CEO Richard Fairbank
What Goes Around: The top 1% get 24% of all the income in the US. If the Republicans have their way, the richest 120,000 people in the country would receive an average tax break of $3 million each over the next decade. What's wrong with a little class warfare? What's wrong with a lot of class warfare?
One more time: Scientific studies have repeatedly found no causative nor correlative link between autism and vaccinations. Perhaps parents wanting someone to blame should look to the wider environment and the multitude of man-made chemicals we have spewn about.
Things in a Certain Order: After being criticized for putting American citizens on CIA hit lists, the Obama administration is considering having a quick trial in absentia before letting the CIA kill citizens. Or a quick trial after they're caught and before they're executed, depending.
War Profiteering: Prudential Financial has been profiting from the deaths of American soldiers for at least 10 years – with the knowledge and consent of the VA. Ain't
capitalism greed great?
Money Talks: The US Camber of Commerce, with a political war chest rivaling that of the Republican Party (as though there were a difference) is facing complaints that it laundered millions of dollars meant for charitable work into attempts to thwart Obama's policy proposals – which the Chamber views as a public service.
Sound Bites: While you wait breathlessly to find out what the market did today, remember that “the market” is really just 112 stocks being traded back and forth between robots.
Tiny Tiny Print: Real estate developers are now including a little item in the sales contract that says that for the next 99 years, every time the house you just bought is sold, they get 1% of the sales price. Royalties.
Behave! Don't make me count to 3,285 or whatever number of days it is until banks have to comply with the Basel III regulations and show that at least 8.5% of their “capital” is actually capital. What did you expect when a bunch of bankers make rules for a bunch of banks.
Porn O'Graph: How to stop smoking...