A
new entity has been established without our noticing: the economic
state.
Prophets
and Loss:
Remember all the fortunes that fracking the shale plays was going to
create? Did you get in on the ground floor? Is your company one of
those whose debts have doubled
over the last four years while revenue has only increased 5.6%? A
lot of frackers are spending at least 10% of their sales income on
interest payments. Exxon, for comparison, pays 0.1% of its sales in
interest. Drillers gotta drill, to make enough money to at least pay
the interest on the loans they took out to do their previous
drilling. And then they have to borrow more money to drill more
holes to make more money
to pay back the interest on the loans that went into the last set of
holes. As for paying off the principal?
Well, they're frackers, principles don't enter into it.
As
the World Turns:
A woman has been stoned to death by her family in front of a
Pakistani high court for marrying the man she loves. At
least it wasn't the woman she loved.
A
Sudanese woman who
was found guilty of marrying her Christian lover has given birth in
jail. She will now suffer
100 lashes and then hanged.
Pace
Yourself:
S&P 500 CEOs got
an average 8.8% pay raise last year and now their median income is
over $10 million – 257 times what the average worker makes. But
they deserve it because of all the hard decisions they have to make.
And all the jobs they crea....
Because they can.
Qualifications:
A
Duke
University
business major who was expelled
over rape charges
is suing the university. Not to expunge his record, but to get his
degree. He figures that with the degree and the rape charges he's a
shoo-in for a Wall Street job.
Oily
Days:
Somebody else has noticed that there seems to be a correlation
between the price of oil and the price of food. Y'think?
This
Just In:
Studies show that low paid workers don't have much money!
Bonded
Out:
The
stock market keeps climbing ever higher, while the yeild on 10-year
Treasuries keeps dropping and are now down to 2.43%. If the bond
mavens think that a 2.43% return on their money over a ten year
period is
a good deal,
what do you think that might mean for the profits of
corporate America? Bigger fools, bigger fools. Have we still got
lots of bigger fools?
Antigonish:
The governor of the Bank of England says capitalism will be doomed
if its ethics vanish. Its ethics?
Camel's
Nose & The Tent:
The
Russians
are 'offering' to supply humanitarian aid to the 'conflict zone' in
eastern Ukraine, and has asked the Ukrainian government to allow
several Russian divisions to escort the supplies into the country.
Russian would like “the fastest possible answer” to their
request.
Porn
O'Graph:
Correlation is not causation, but it gets suggestive after a while.
The
Parting Shot:
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