Tuesday, January 13, 2015

SAR #15013

Economists generally do the math right, it's the numbers that cause the problem.

How Low is Low: US energy shares have lost about 25% of their value as oil dropped 50% in price. Has the sector taken enough punishment? No, most energy firms have barely begun to feel the effects of falling off a cliff. It is not really ugly yet, but it will be. Goldman Sachs, which completely misled its customers about oil prices last summer, now says oil will drop to $39 and not recover to $65 for a year or so. 
Friends In High Places: Dianne Feinstein, Chair of the Senate Intelligence Committee until a week ago, took a break from her relentless pursuit of Julian Assange and Edward Snowden to make it clear that her friend David Petraeus should be excused for letting his penis get the better of him whispering sweet secrets in his paramour's computer shell-like ears. 
Clip & Save: Saudi Prince Alwaleed assures us that we will never again see $100-a-barrel oil. Never.

Right, but Also Wrong: Joseph Stiglitz says that “Europe's economic madness cannot continue.” He is right in that flogging the peasants hasn't worked and continuing to flog them isn't going to work any better, but wrong to think that the Germans are going to let those lazy, unemployed Greeks and Spaniards off their knees.

Ignorance Is Bliss: A Faux News terrorism expert claimed that there are areas of the UK that are exclusively for Muslims, while another of their talented staff reported that Parisians were targeted by the terrorists because they carried smartphones not handguns.

For The Good Of The Game: Prosecutors in Ohio have dismissed charges of tampering with evidence and obstructing justice against a school district superintendent who tampered with evidence and obstructed justice while trying to protect two football players from facing the consequences of raping a schoolmate. In return for getting off, the superintendent agreed to resign his position. Period. He can go to work for another school district tomorrow. Might as well, one of the rapists was back on the football team this fall.
Flat Earth Society: In response to a dozen deaths at the hands of Muslim terrorists in Paris, over 3 million joined together in protest and France deployed 10,000 troops and 5,000 additional police officers. Meanwhile, in Nigeria, Islamic terrorists killed 2,000 in one town and the world kept watching TV broadcasts from Paris. Or worse, Fox.

Porn O' Graph: Hypocrisy marches on.

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