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    • Wed Dec 3rd 10:48 AM
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      Rating: 0 0
      Commented on:
      Economies Improve in Three States - How Can We Copy Them?
      If you look at the states still doing reasonably well, they are virtually all net ENERGY EXPORTERS. Of course, agriculture and right-to-work doesn't hurt some of them, either. (Arkansas, by the way, is home to the largest retailer in the world, Wal-Mart.)

      As the new Prez and Congress are very likely going to revive the OCS moratorium and have pledged to kill the use of coal domestically, some of these states are going to be missing from such future listings.

      Incidentally, longer term one of our most prosperous states will be South Carolina, whose offshore is home to one of the largest concentrations of gas hydrates in the world. This resource will help power our nation's economy for the foreseeable future one day.



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    • Tue Dec 2nd 11:53 AM
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      Rating: +2 0
      Commented on:
      Why Bailouts Are Not the Answer
      Let's assume for the moment that the Treasury and the Fed really HAD to spend (invest?) a trillon dollars to keep the world's banking system afloat. That makes sense but, of course, it's potentially inflationary down the line. (And it's only fair, as we were the ones who sold everyone all that bum housing paper in the first place - leveraged 30+X.

      But now the Congress and its free spending majorities feel compelled to get in on the fun. Acting like they have some sort of mandate and a green light from the new Administration and the Fed, they are cooking up an ADDITIONAL trillion dollar stimulus pacakge for a start. (As a reward to their voters perhaps?)

      But it doesn't really matter why they're doing it, because in the end they will only once again only prove we can't SPEND oursleves rich! It makes one wonder what it is about Economics 101 they can't comprehend.

      (Like I said, I'm not a gold bug. But BUY GOLD, it's the only way out.)

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    • Tue Dec 2nd 09:09 AM
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      Rating: +2 0
      Commented on:
      Why Bailouts Are Not the Answer
      I was never a gold bug. In fact, I pooh-poohed them. But as the author points out, the word "trillions" has replaced "billions" in the lexicon of lawmakers' deficits.

      This can ONLY result in the price of gold going through the roof over time. Indeed, it's increasingly likely the feds will outlaw its ownership again one day. Good luck to them.
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    • Tue Dec 2nd 09:00 AM
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      Rating: +1 -1
      Commented on:
      Why Bailouts Are Not the Answer
      The lone bright spot in all this is it's no longer illegal for Americans to own gold. It's time to stock up, I'd venture to say.
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    • Mon Dec 1st 10:25 AM
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      Rating: 0 0
      Commented on:
      Fast Money Recap - GM and Ford Go to Washington (11/28/08)
      David,

      You're certainly up on your current events.

      May I suggest you don't take it all quite so seriously. There are always problems around the world.

      It also appears we've weathered the worst of the U.S. inspired worldwide financial meltdown.

      Take heart!

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    • Mon Dec 1st 10:10 AM
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      Rating: +1 0
      Commented on:
      Troubled Banks in 1991 Were 25 Times Worse Than Now
      Keep it up, guys. Your doom and gloom scenarios for our future have convinced me we've already put in a bottom.

      We're lucky, actually. This financial contagion could have been much worse than it is considering the debt follies that took place.

      Now your new Prez will restructure our economy and taxes to ensure there's nothing but blue skies ahead. Just what you wanted.
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    • Sun Nov 30th 11:00 AM
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      Rating: +1 0
      Commented on:
      A Modest Proposal For The U.S. Auto Industry: Stop Building Cars
      By way of example, let's take a look at EV's (electrics) versus NGV's (natural gas vehicles). On the one hand you a have an unproven technology (EV's) that can run only light-weight vehicles 40 miles, costs twice the price of conventional cars, and will NEVER make money for automakers as far as the eye can see.

      On the other (NGV's), you have a proven 60-year old technology with seven million on the roads throughout the world, a consistent 40% savings over gasoline, and you can convert ALL 250 million existing U.S. vehicles to run on this domestically abundant fuel inexpensively starting tomorrow.

      So what does our government want to do? Replace their vehicle fleet with EV's, of course. Not to mention their present regulatory schemes that have resulted in not being able to convert gasoline fueled vehicles to NGV's, much less build new ones here.

      Oh, and lest we forget, they plan on renewing the MORATORIUM on domestic oil and gas exploration, crippling our coal industry, making it practically impossible to build new nuclear reactors, and enacting a global warming clean air regime DOUBLING existing electricity rates.

      I would suggest, therefore, that U.S. automakers may be only the first pin to fall. If we don't listen to the canary no longer singing in this coal mine, in short order we'll ALL be right behind them.
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    • Sun Nov 30th 10:06 AM
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      Rating: 0 -1
      Commented on:
      A Modest Proposal For The U.S. Auto Industry: Stop Building Cars
      This leaves bankruptcy as their ONLY short term answer. Longer term, however, how are they going to resolve stupid bureaucratic meddling? And are their unions willing to voluntarily "decertify" themselves so they can get a clean re-start? I doubt it.

      And it's even more unlikely you're going to see any of these REAL survival issues contained in their future business plans contingent on their bailout moneys being demanded by Congress. No, it's all a sham and a "dog and pony show" to give lawmakers cover to provide them taxpayer funding.

      But the marketplace in the real world can be cruel, especially if you're way behind the eight ball to start with. So by glossing over the problems that got them to where they are and not taking the politically difficult steps needed to actually level the playing field, they have two chances of becoming viable manufacturing enterprises once again, slim and none.
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    • Sun Nov 30th 09:38 AM
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      Rating: 0 -2
      Commented on:
      A Modest Proposal For The U.S. Auto Industry: Stop Building Cars
      Nice idea, but I would tend to concur that it is impractical in an "iron and steel" manufacturing environment. We're not talking about laptops or TV sets here, but several thousand pounds of automotive parts being assembled and distributed on tight schedules.

      And that doesn't take into account the competitive advantage these electronic manufacturers enjoy in lower wages and benefits, not to mention their freedom from onerous government regulations and mandates that largely only serve to run up costs.

      As a result, we get a line-up of new full-sized trucks from Detroit, rather than the fuel efficient compacts they build in Europe that look great and sell well there. Besides bad management decisions, governmental and union interference in this industry are major culprits here.

      I'll argue that until these impediments are reversed, Detroit can NEVER become profitable once again. But you won't hear this from Detroiters. And you can't blame them. They're hardly in a position to blow the whistle on this "dirty little secret" while going hat in hand to the Congress, begging for a lifeline from the very people who put them in this situation in the first place.

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    • Sun Nov 30th 08:30 AM
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      Rating: +1 0
      Commented on:
      No Real Estate Bubble in Central U.S.
      (One could argue this media inspired "group think" had a hand in the housing bubble and the energy crisis. People piled into these investments as they were reported over and over, ad nauseum.)
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    • Sun Nov 30th 08:25 AM
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      Rating: +1 0
      Commented on:
      No Real Estate Bubble in Central U.S.
      The media has a vested interest in bad news. Devastation sells soap best. Few people read or watch good news. But when a crisis hits, we all tune in. And the proliferation of news outlets in recent years has served to exacerbate this trend. "The end is coming, the end is coming," cried Chicken Little.
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    • Sat Nov 29th 14:28 PM
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      Rating: 0 0
      Commented on:
      Lock in Low Gas Prices
      You're ABSOLUTELY correct, Kelly. We all need to learn how to take better care and be more responsible for ourselves. Figuring out how not to be net debtors as individuals would be good for a start. (Funny, but that's something all previous generations of Americans took for granted.)
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    • Sat Nov 29th 14:22 PM
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      Rating: 0 0
      Commented on:
      Lock in Low Gas Prices
      No, Hog, don't go away. Learn something instead. I learn things all the time in this medium. That's how I discovered the U.S. has inexhaustible supplies of natural gas and gas hydrates. They'll power our economy without OPEC virtually forever.
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    • Sat Nov 29th 14:17 PM
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      Rating: +1 0
      Commented on:
      Lock in Low Gas Prices
      By the way, the only person who's come up with a REAL solution to defang OPEC is ol' Boone. If the new Prez gets behind that, he'll be my man for all seasons. (See, and I didn't even choke when I said that.)
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    • Sat Nov 29th 14:12 PM
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      Rating: 0 0
      Commented on:
      Lock in Low Gas Prices
      Speaking of which, it looks like we're lucky our Prez to be is inheriting such a bum economy. Maybe this will forestall some of his zanier ideas like doubling our electric rates in the name of global warming. (Actually, I'm a bit more worried about this proposed Civilian Security Force myself.)
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