Thursday, April 7, 2016
Confidence often bears little relationship to competence.
An Example: The Treasury has new rules aimed at curbing the rush of US companies to merge with strawish foreign dogs and then pretend that the merged company, conveniently out of the IRS' reach, is now in Can't-Touch-Me land. They went into effect on April 4th and have already put a stop to the Pfizer/Allegan $160 billion deal. That Obama would take on what would have been the world's largest pharmaceutical company over something as trivial as paying US taxes makes one wonder what is really going on and if the Republican Congress will let this assault on profits continue.
Quite So Story: “American People To Blame For Current State Of Politics...” True. Just as it was a mistake to turn the running of companies over to the self-interest of CEOs, letting our hired hands in Washington and the statehouses and all those city halls have their own way, unsupervised for so long, has gelded us.
Yes, Mother: Hillary says she has “had enough” of Bernie Sanders impertinence and he'd better toe the line from now on or she'll send him to bed without any supper. If she can't stand a little gentle poking from Bernie, wait 'til she has to face Trump's assaults on a daily basis.
Ins And Outs: Renewable energies – mainly wind and solar – are eclipsing traditional fossil fuels in the hearts of investors. In 2015, renewables garnered some $250 billion in new investment, double the $125 fossil fuels garnered. Even Scotland, which plans to finance independence with North Sea oil, got 57.7% of its domestic energy consumption from renewables last year. Maybe the danger is not peak oil but peak oil investment. Might think about this as you set up the kid's college fund.
The New South: Maine has joined the slave states and is putting a 'Christian' initiative on the ballot this fall which would strip gay rights from Maine's Human Rights Act. Like North Carolina's it would strip “sexual orientation” of legal protection from discrimination – but doesn't specify which sexual orientation, so refusing to rent to a married heterosexual couple would be just fine. These people never think things through, fortunately.
Trade Is Good For Something-or-other: Ford is planning to open $1.6 billion small car plant in Mexico and transfer much of its US small-car production there while creating (or transferring) 2,800 jobs.
A Parting Shot:
Posted by Charles Kingsley Michaelson, III at 4:22 AM