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ajBookchin
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Posted: Fri Apr 18th, 2008 10:14 pm |
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As a follow on to my last post, consider the consequences we have caused to our own society and others in our quest for a continuation of cheap oil...
As I understand... the government's push to utilize corn-based ethanol has led to existing food shortages and escalating food prices because farmers are selling more of the corn they produce to the ethanol manufacturers. This causes the value of corn to increase - along with the price of every food product utilizing corn. Check to see how many food products do NOT utilize corn in some form!!! You will not find many.
Additionally, farmers growing other products such as wheat have shifted to the higher revenue corm crop - not that I can fault them, but...
I have heard that the United States, the bread basket of the world, had to inport wheat for the first time in like a hundred years - it might have been two-hundred. The last time I bought bread at the store, the price of one loaf had increased a whole dollar.
The effects of producing ethanol has resulted in quickly escalating food prices, meanwhile we have seen absolutely no effect on the price of fuel, although some indicate that prices would be ten or twenty cents higher without the ethanol.
I do not know about anyone else, but I would rather pay higher fuel prices than be someone who is contributing to higher food prices, not just for our neighbors, but for people the world over. My family is struggling with high fuel and food prices - imagine the burden to the poor whose food budgets are already a large percentage of their income. (I'm sure our elected leaders are salivating at the "opportunity" to demonstrate their compassion by offering still more government programs to help the "unfortunate".)
The government needs to get out of the energy business and allow the free market to determine what energy is most effecient and cost-effective - ethanol may fill this role if other bioproducts were utilized - is hemp a possibility???
To top this off, I have heard that the ethanol is creating numerous problems for the industry as a whole with regard to transporting the fuel and that the ethanol reduces our fuel mileage and may damage some of the components in our engines.
Last edited on Sun Apr 20th, 2008 04:56 am by ajBookchin
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ajBookchin
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Posted: Fri Apr 18th, 2008 07:16 pm |
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gk wrote: Unbridled greed has given the average American this
Few seem to remember that Wall Street is not a non-profit community driven by altruism or any sense of service. They would gladly cheat you out of your entire life savings if their actions were legal, or at least not prosecuted.
In the last two to three years, the lies, deception, misdirection, false reporting, corruption, and grand fraud will be the topic of historical accounts for decades.
http://www.kitco.com/ind/willie/apr162008.html
Its not just Wall Street but also Main Street.
How many families and individuals have taken on large amounts of debt because they could not wait to save money for all the luxuries of life??? - those things too many Americans are led to believe are must haves, Lexuses, LCD TVs, iPods, dining out just "because its Monday"...
How many families and individuals purchased homes that exceeded their incomes if not for "creative" financing??? Couldn't we have purchased that 1,300 sq ft home rather the 3,600 sq ft home??? Maybe if we weren't also borrowing and consuming so much other "stuff".
The greed hasn't just been on Wall Street - there are plenty of us who hold some accountability for this economic mess our country is in - just because the banks and Wall Street offered us too much credit. some through bad loans... It was our responsibility as consumers to hold Wall Street in check.
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azcats_01
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Posted: Fri Apr 18th, 2008 02:57 pm |
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Slowly the SEC & Congress are trying to change the rules to curb the massive abuse of naked shorting. A new rule is being proposed, but doesn't go far enough.
Proposed new rule
http://www.sec.gov/rules/proposed/2008/3...
Link to make comments (naked short selling, comments)
http://www.sec.gov/rules/proposed.shtml
Some good info from the CEO Patrick Byrne of Overstock.com on how the manipulation is done. The battle has been going on for years while the SEC does squat.
http://www.overstock.com/naked-short-selling.html
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Bambi
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Posted: Fri Apr 18th, 2008 02:41 pm |
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If they are crooks, and the process they are using to arrive at is manipulation of the funds, why is Goverment not intervening? You can't gamble .25 cents legally in the U.S. You have to go to a different "nation" where it is allowed. And we allow this?
Wasn't it a hedgefund guy that killed all his coworkers and others upon loosing all that money?
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azcats_01
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Posted: Fri Apr 18th, 2008 02:30 pm |
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Bambi wrote: And gambling is illegal in Amercia? Hedge fund is nothing but that in my opinion. The bigger you are, the better your odds.
It's even worse than just gambling. These crooks manipulate stocks and create phantom shares (naked shorting) to drive companies into bankruptcy. The average retail guy has no chance while these crooks steal their life savings and then pay very little taxes on the billions they steal.
IMO, shorting a stock should be illegal in this country. Of course, "naked" shorting is illegal but the SEC doesn't do squat about it. Too bad Spitzer got busted with his whores, he was one of the few fighting the crooks of Wall Street.
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Bambi
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Posted: Fri Apr 18th, 2008 02:14 pm |
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| And gambling is illegal in Amercia? Hedge fund is nothing but that in my opinion. The bigger you are, the better your odds.
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azcats_01
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Posted: Thu Apr 17th, 2008 10:55 pm |
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The hedge fund crooks rake in the billions while the little guy gets screwed out of his life savings...
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Hedge fund manager Paulson earns $3.7 billion
Bets on a U.S. housing crisis earned hedge fund manager John Paulson $3.7 billion in 2007, ahead of industry legend George Soros and 2006's highest-paid manager James Simons, according to Alpha Magazine.
Paulson, whose bet that investment grade mortgage bonds would be subject to default in record numbers came good in the subprime meltdown last summer, was one of five managers earning more than $1 billion, Alpha said in a note on Wednesday.
His earnings were more than double those of 2006's top earner -- mathematics professor-turned-investor James Simons, who founded Renaissance Technologies Corp -- who in 2007 earned $2.8 billion.
George Soros, whose Quantum Endowment Fund returned 32 percent last year, earned $2.9 billion.
The top 25 managers earned, on average, $877 million in 2007, up from $532 million in 2006.
This "may well prove to be the greatest display of individual wealth creation in any year in the modern history of finance," Alpha said in the note.
http://news.yahoo.com/s/nm/20080416/bs_nm/hedge_earnings_dc_1
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gk
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Posted: Thu Apr 17th, 2008 06:34 pm |
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Unbridled greed has given the average American this
Few seem to remember that Wall Street is not a non-profit community driven by altruism or any sense of service. They would gladly cheat you out of your entire life savings if their actions were legal, or at least not prosecuted.
In the last two to three years, the lies, deception, misdirection, false reporting, corruption, and grand fraud will be the topic of historical accounts for decades.
http://www.kitco.com/ind/willie/apr162008.html
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pipeman
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Posted: Thu Apr 17th, 2008 03:07 pm |
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azcats_01 wrote: gk wrote: Wacky Bernanke heads the FED like boy george heads the country.
How did we get to this?
Because Glenn Hubbard didn't get the job! So says this awesome video:
http://www0.gsb.columbia.edu/everybreath/
hahahaha, good one az.
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azcats_01
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Posted: Thu Apr 17th, 2008 01:26 pm |
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gk wrote: Wacky Bernanke heads the FED like boy george heads the country.
How did we get to this?
Because Glenn Hubbard didn't get the job! So says this awesome video:
http://www0.gsb.columbia.edu/everybreath/
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pipeman
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Posted: Thu Apr 17th, 2008 01:10 pm |
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Found this somewhat funny.  Attachment: new money.bmp (Downloaded 52 times)
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gk
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Posted: Thu Apr 17th, 2008 07:47 am |
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CHINA PLANS TO DUMP THE DOLLAR.
IT'S REALLY GONNA HIT THE FAN NOW!!
http://www.naturalnews.com/023005.html
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gk
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Posted: Thu Mar 20th, 2008 04:12 am |
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AMSTERDAM (Reuters) - The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands.
"Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office."
That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.
The dollar hovered near record lows on Monday, with one euro worth around $1.58 versus $1.47 a month ago.
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gk
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Posted: Thu Mar 20th, 2008 03:48 am |
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Wacky Bernanke heads the FED like boy george heads the country.
How did we get to this?
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flyrep
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Posted: Thu Mar 20th, 2008 12:50 am |
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http://www.infowars.com/?p=901
Bernanke used $230 billion of taxpayers money to bail out Bear Stearns and other banks last week, and urged people to shift their assets completely out of dollars because the Fed had "given up" on the greenback.
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