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POPSFed's Yellen: Crisis "ongoing and perhaps deepening"
Second, export growth alone contributed one-half of the total real GDP growth registered in the second quarter. This element has been an important source of strength in our economy for over a year, being buoyed by strong growth abroad and by the weakening of the dollar. However, as I discussed, in recent months the dollar has risen somewhat and economic growth in many of our industrialized trading partners has slowed or even turned negative, suggesting that we can no longer count on exports as an important source of strength. Third, the problems in the housing markets, financial markets, and labor markets continue to be a drag on growth and employment. Fortunately, the recent fall in commodity prices should help to cushion some of this downward pressure on activity. Overall, I anticipate that real GDP growth in the second half of this year will come in below the growth of potential output which implies that the unemployment rate will rise. On its own, this obviously is not good new
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POPSWhy cheaper oil signals trouble Deflation will win over inflation. But the "good news" will go on until just after the USA election. Then reality will begin to intrude its ugly head, again.
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POPSUS Economy Rebounds According to Democrats - we have a terrible economy. So this surge must be due to... let's see what would work here well... Obama's acceptance speech tonight... and in the immortal words/voice of Jon Lovitz, "yeah, yeah, that's it!"
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POPSBaku-Tbilisi-Ceyhan Oil Pipeline Back to Normal Operations, BP Says continued...... backing out of the BTC pipeline and diverting its oil through Russia amid the military conflict in Georgia. Now, Erlan Idrissov, Kazakhstan’s ambassador to the U.S., has written in to say that his country plans to continue with the pipeline project. The crux of his letter: I would like to make clear that the allegations made in the article with reference to the Turkish “Referans” newspaper that Kazakhstan is pulling out of the BTC project are very far from likelihood. The article questions Kazakhstan’s commitment to the existing resource transportation agreements saying that “some countries seem to be bailing out of the existing ”. I would like to address here the core of the issue. First of all, Kazakhstan has declared and more than once proved its unwavering commitment to the principle of diversification of the routes of hydrocarbons transportation to the world markets.
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POPSObama's Depressing Tax Plan He has opposed the Columbian Free Trade Agreement, even though it primarily removes tariffs on American exports to that country, with barriers to Columbian exports to America already almost all removed under the Andean Trade Preferences Act. In sharp contrast, McCain has promised tax cuts to promote economic growth and strengthen the U.S. dollar. The federal corporate tax rate today is 35 percent, and McCain suggests cutting it to 25 percent. This would mirror rates elsewhere: The average corporate tax rate in the European Union was slashed from 38 percent in 1996 to 24 percent by 2007. The rates in India and China are lower as well. American companies are not going to produce more jobs and higher wages with this crippling competitive disadvantage.
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POPSHow To Stop Putin What we can do is alter Putin's cost-benefit calculations. We are not without resources. There are a range of measures to be deployed if Russia does not live up to its cease-fire commitments: 1. Suspend the NATO-Russia Council established in 2002 2. Bar Russian entry to the World Trade Organization. 3. Dissolve the G-8. Putin's dictatorship long made Russia's presence in this group of industrial democracies a farce, but no one wanted to upset the bear by expelling it. No need to. The seven democracies simply withdraw. (And if Italy's Silvio Berlusconi, who has been sympathetic to Putin's Georgia adventure, wants to stay, he can have an annual G-2 dinner with Putin.) Then immediately announce the reconstitution of the original G-7. 4. Announce a U.S.-European boycott of the 2014 Winter Olympics at Sochi. The most crucial and unconditional measure, however, is this: Reaffirm support for the Saakashvili government:
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POPSUS Oil Companies Shamelessly Increase Exports Their exports to other countries are surging while they complain about drilling access. How about some honesty now from republicans (instead of circling the wagons as if Big Oil are pure saints), let's hear them criticize this policy of the oil companies while they complain of insufficient supply (e.g. "its OPECs fault")! Would be glad to hear any attempts at defending this export policy, which can only contribute to an increase in the price of gas here. Forgive us for complaining now about excessive profits when they are the ones limiting our domestic gas supply! (I have no objection to increase drilling either, but weary of the mantra that is blind to the truth).
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POPSOur Oil in not being used by us? Please tell me this is not true! Why is our oil being exported when we need it? If it would keep the price down, is that not a good thing? After all, its our oil!
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POPSOil Exports From N. Iraq Rise Sharply More good news. The $$$, I hope, is going back into rebuilding the Country and will add to a decrease in our aid and will increase investors moving in to promote a growing economy. In time, I hope that those who claimed that we went into Iraq for oil will get their wish.
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POPSWe have everything to fear from McCain Phil Gramm is an ornery old ex-Texas senator who seems to have swooped out of the most scathing H L Mencken sketch. He became McCain's "best friend in politics" – and started speaking to him every day – when they linked arms to stop Hillary Clinton's 1993 push to extend healthcare to poor Americans. He calls for "ruthlessly" slashing government spending – but only focuses on spending on the poor. When he was told paying for healthcare plunged many 80-year-olds into poverty, he said: "Most of us don't have the luxury of living to be 80 years old, so it's hard for me to feel sorry for them."
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POPSPelosi is not serious about energy Instead of lifting the ban on drilling they want the oil companies to give back the leases they are currently exploring. Instead of leasing out more land to begin further exploration they want to ban non-existent Alaskan exports. Get serious! I have people in my state paying $9 for diesel fuel. It is going to get real cold and real dark here in Alaska and Pelosi is messing around.
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