Mayfield, Kentucky has been completely devastated by a massive tornado.

Oil Descends Below $100 on Account of Improving US Economy

Depicting a sign of improvement in the US economy, the prices on oil hovered below $100 a barrel. Benchmark crude mounted 12 cents to $99.77 in electronic trading supposed to be delivered in February on the New York Mercantile Exchange.

Petrol Price Contempt in Australia

The price of petrol in Australia has become a complete joke. For years now, the motoring public has been getting conned by the Oil Companies and it is past time for the ACCC to get the gumption to do something about it.

The Common Market

It is amazing just how much time is being spent on The Common Market or European Union issues of finance without these so-called experts ever getting down to the real problem. Anyone who knows anything about Greece or Italy will tell you that their problems stem from a chronic lack of taxation. Before you jump up and down and say that taxation does not account for much, bear in mind that if you add up the amount of tax that SHOULD have been paid by professionals and corporations, not to mention personal taxes at the ‘richest’ levels, the total over the years adds up to billions, not millions of Euros.

Our Money System and Inflation

Money cannot be manufactured. Money, by itself cannot stand alone. There has to be a system in place to give the paper currency a value. It may be the product, the service, or the backing of the government.

Progressivism Isn’t Progress, IV

The progressives have erected a formidable fortress in the American administrative state. With it, they may well achieve their Holy Grail objective – the collapse of the free market system, the eradication of prosperity, the “equalization” of everyone, and totalitarian government control of the population. We will cease completely to be the nation we were established to be (and the nation we’ve struggled to act like for decades). We’ll still have a “one percent,” but they’ll be our government masters, not our entrepreneurial employers….

Did We Just Export the Global Credit Rating Industry to China Too?

What happens when sovereign wealth funds have little if any transparency, or when companies can game the rating agencies, or when various financial vehicles get the proverbial “Triple-A” rating and stamp of approval? Well, I’ll tell you what happens; Freddie and Fannie, Enron, Lehman Brothers, Bernie Madoff, Dubai, and every other financial catastrophe in the past. Irrational Exuberance always has its cheerleaders while until the music stops, and there are not enough chairs left for all the rest – yes, we live in turbulent times – and I’d say “Interesting Times” too – to borrow an ancient famous Chinese quote….

There Is No Economic Fix, No Bazooka, or Any Silver Bullets – The EU Is in a Pickle and Knows It

Is 2012 the year that the “Great European Experiment” implodes? If it is, it means that the US Growth rate will be flat, or zero for a while, and it also is very bad news for China as well. In China there real estate market looks as if it has finally popped, and they have taken a huge hit in exports as the EU is a large market for their products.

European Banks Score Again

European banks recently took advantage of a program from the European Central Bank meant to increase liquidity in Europe’s fragile banking system. The banks borrowed almost 500 billion euros in 3 year loans carrying an interest rate in the range of 1%.

Pipe Welding: What If It Turned Out The U.S. Will Soon Be The Top Oil Producer In The World?

The U.S. is the largest economy of any single country on the planet. U.S. manufacturing has declined, but the U.S. remains the biggest manufacturing company in the world, with about 20% of all world manufacturing. Soon, the U.S. will be the largest producer of oil. What’s that got to do with the demand for pipe welders? Pipe moves oil.

Can the States Save the Nation?

It’s possible that the individual states, following the example of the State Bank of North Dakota, can get out of debt, reduce taxes, and avoid cutting services or laying off state employees. All the states have to do is to borrow money from a non-profit bank at zero interest.

Run Away Inflation in Iran – I Guess I’d Run Too, As the Railed Rial Ran

Over the years, I have not been a proponent of economic sanctions because I believe it hurts the people, when generally the political impasse of a rogue nation-state has more to do with their Machiavellian leadership. In fact, it is my belief that often the citizens of those nations are the ones who were misled, abused, and are led by fear from a heavy-handed illegitimate regime. Thus, why would you do anything that would further victimize the people who are already under duress from the bad apples that run the leadership of their nation.

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