The ability to persuade people that the US opposes tyranny is a testament to the potency of propaganda. Glenn Greenwald.
Just You Wait: Britain's economy has now shrunk for four of the last five quarters, its manufacturing sector has shrunk by over 2% in the last year and inflation is set to hit 3% this year. Not to worry, the benefits of austerity will show up any day now – about the time the US embraces the idea. Oh, wait...
Redundant Question: Is the Republican-forced decimation of the Postal Service a step towards privatization? If you got both the one about the bears in the woods and one about the pope's religion correct, you can probably guess this one.
Without Comment: BP, claiming the Deepwater Horizon disaster could have been worse, wants their fine reduced by $3.4 billion.
Designated Hitters: Realizing that at this point the American people have not been sufficiently softened up to swallow yet another war, the US has gotten Britain to join France in the proxy war being waged against Muslims in Mali. The US is providing “intelligence-sharing and logistics support” to the effort. 'Logistics' is spelled m-o-n-e-y.
Confession:Global warming is no longer a future issue.
As Advertised: Output from the Bakken oil shale fell in November as producers pulled drilling rigs out of the area. The decline in rigs and the rapid depletion rate for wells in the Bakken indicate that the “boom” will quickly become a 'once upon a time' event. Similarly, Total will stop investing in dry shale gas wells because low gas prices make the undertaking unprofitable. It is flows and not reserves that count in the marketplace.
Question Time: When the banksters pay the government a bribe to escape prosecution, who really foots the bill?
He Ain't Heavy, He's Lloyd Blankfein: Goldman Sachs’ Lloyd Blankfein and other tycoons want to convince average folks to expect less from Social Security so they, the rich, can escape slightly higher tax rates. Since 1980, Lloyd and the rest of the top 1% of Americans have seen their incomes increase by 275% while the typical hourly wage for workers has increased just $1.23. They’re not satisfied with having “most”, they want “all”.
The Idea of the Corporation: Corporations were once vehicles responsible to their shareholders. Not so much anymore. HP lost $13 billion and paid its CEO $15 million for doing such a fine job in her first year. Shares lost about half their value.
The Shipping News: Reality check: Oil producing nations can export only that part of their production that is not needed for internal use. Over the next 5 years, new Saudi refineries will reduce the amount of petroleum available for export by 1.2 million barrels a day. They currently produce about 9.3 million barrels a day and export abut 7.1 mbd. By 2018, they'll only have 5.9 mbd available for sale, a 17% reduction. Nothin' from nothin' leaves nothin'....
Rule: Threatening to hurt tens of millions of Americans unless you get your way should not be recognized as a legitimate political action. Perhaps we could encourage the Rs to threaten hold their breath...
The Parting Shot: