And the government is increasing regulation on American oil making it more and more expensive to sell. Just added a 4% offshore tax and a $5 per barrel shipping fee. So although the the price has gone from 26 to 46 the government is doing everything they can to kill production in the USA.
So in the long run this is going to bring s return back to really high prices but we will not be able to compete on an even playing field with the OPEC nations. So they will in turn recover all thier lost market share and we won't be able to compete.
Yea.
BSEE is hiring at a record rate right now and it makes absolutely no sense. Hundreds of wells being shut in on the daily but yet the government feels like it's the right thing to do to hire even more regulators to oversee less production.
It seems like somebody wants to slowly bring an end to oil kinda like the coal industry
So in the long run this is going to bring s return back to really high prices but we will not be able to compete on an even playing field with the OPEC nations. So they will in turn recover all thier lost market share and we won't be able to compete.
Yea.
BSEE is hiring at a record rate right now and it makes absolutely no sense. Hundreds of wells being shut in on the daily but yet the government feels like it's the right thing to do to hire even more regulators to oversee less production.
It seems like somebody wants to slowly bring an end to oil kinda like the coal industry
BSEE is hiring at a record rate right now and it makes absolutely no sense.
Ohhhhhhh yes it does, it makes PERFECT sense
If a government policy changes and they don't want to trumpet it as an official policy then the system conspires to regulate that industry out of existence, or almost out of existence
As part of the fossil fuels/global warming policy it looks like oil is about to get the coal industry treatment
First the little guys get squashed, then the bigger guys get squeezed out.
They use regulations and taxes as their main weapons, and hire lots of enforcers to harass participants with dumb rules and regulations
From shutting down the coal industry to pushing Jewish dudes on trains. The main driver is "government policy"
Ohhhhhhh yes it does, it makes PERFECT sense
If a government policy changes and they don't want to trumpet it as an official policy then the system conspires to regulate that industry out of existence, or almost out of existence
As part of the fossil fuels/global warming policy it looks like oil is about to get the coal industry treatment
First the little guys get squashed, then the bigger guys get squeezed out.
They use regulations and taxes as their main weapons, and hire lots of enforcers to harass participants with dumb rules and regulations
From shutting down the coal industry to pushing Jewish dudes on trains. The main driver is "government policy"
This guy potentially has $500 million in bitcoin cash... which will attract every legal and illegal gangster on planet earth lol
If I was him, for the sake of myself and the safety of my family I would delete everything, I wouldn't leave a scooby
(well maybe one bitcoin to hand over to the government guys as a token gesture)
-------------------------------------------
Craig Wright revealed as Bitcoin creator Satoshi Nakamoto
Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto.
His admission ends years of speculation about who came up with the original ideas underlying the digital cash system.
http://www.bbc.co.uk/news/technology-36168863
If I was him, for the sake of myself and the safety of my family I would delete everything, I wouldn't leave a scooby
(well maybe one bitcoin to hand over to the government guys as a token gesture)
-------------------------------------------
Craig Wright revealed as Bitcoin creator Satoshi Nakamoto
Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto.
His admission ends years of speculation about who came up with the original ideas underlying the digital cash system.
http://www.bbc.co.uk/news/technology-36168863
Near All time highs on markets and middle class pillaged and everybody wonders why the lower end working class is going for trump.. Clinging to any hope they can.. He obviously won't save them and the problem lies elsewhere...
---------------
How I went from middle class to homeless
NEW YORK — Trash bags and boxes fill Joe’s mobile home in a Philadelphia suburb. This isn’t spring cleaning. Joe is about to become homeless.
Unless “a miracle happens,” Joe will likely live in his 2001 Chevrolet Venture minivan by the summer. He removed the seats in the back to make space for a sleeping bag, his laptop and some clothes.
Soon to turn 61, Joe never imagined he would be in this position.
“When I was a kid growing up…America was the greatest place on planet earth. We were the envy of the civilized world. I never thought this could happen here,” Joe says. CNNMoney agreed not to use his last name because he worries potential future employers will Google him.
Joe’s big fear is that people assume he’s lazy. He wore a suit for his interview with CNNMoney and hid his eyes behind big dark glasses because he is ashamed his life has come to this.
Joe’s worked all his life, starting at age 11 pushing a broom around an uncle’s shop. He earned two associate’s degrees in electrical engineering technology and mechanical engineering technology and built a “blue collar” career as a technician, tester and machine operator. He loves factories and figuring out how things work.
Trump talks often about manufacturing job losses
When manufacturing jobs dried up in southeastern Pennsylvania, Joe moved to Minnesota. By the late 1990s, he earned $15 an hour, what he dubs a solid “lower middle class” wage. He figured he would work his way up, get a few raises and maybe buy a home. The American Dream seemed within reach.
Then his mother got sick. As the oldest child, he moved back to Pennsylvania in 1999 to care for her. Never married, Joe bought a trailer home with his mother. He managed to get jobs through temp agencies, but the work was never steady. He never earned $15 again.
Since being laid off in April 2013 from a manufacturing job, he’s worked on and off a total of only seven months. He has drained his savings and retirement accounts and his mother is now in a nursing home, funded by what remains of her life savings and Medicaid.
Presidential candidate Donald Trump, a heavy favorite to win Pennsylvania, brings up the plight of people like Joe often in his stump speeches. He recently pointed out that the Keystone state has lost “35% of its manufacturing jobs since 2001.”
Older job seekers seen as ‘unemployables’
Joe is hit by a double-whammy: his age and his blue-collar career. Workers over 50 have been dubbed the “new unemployables.”
Still hopeful he’ll get a job, Joe applies to a few positions a week. His barber acts as his recruiter, asking everyone who comes in the shop if they have heard of openings and will call Joe right away when he gets news.
“Yes, I am an older worker, but my life’s worth of experience could make me an asset to many places if I could only get the chance to show them,” Joe says. The few interviews he’s had are short. He feels no one wants to hire “the old guy.”
Joe’s mobile home is paid off, but he owes $483 a month for the lot rent in the mobile home park. He doesn’t have the money for May or beyond.
The hurting economy
Joe is one of 8 million unemployed Americans who remain without work despite a hiring surge in recent years.
The hurting economy still exists. Perhaps the most telling sign that the U.S. isn’t back to normal is the 44.7 million Americans on food stamps. Joe is one of them, something else he never envisioned in his life.
Before the financial crisis there were only 26.3 million people on food stamps.
‘I just want a job’
CNNMoney has been in touch with several people who have gone from “getting by” to homeless — or nearly there.
Linda Norris of New Hampshire is in her early 50s. A college graduate, she built a career in the defense contracting field, working her way up to be a senior engineering manager. But between the recession and cuts to the defense budget, she has found herself in short-term jobs. After being laid off again last summer, she has exhausted her savings and had to move in with a friend, becoming effectively homeless.
“It’s really hard to live on $0 income,” says Norris, who spends her time scouring through job openings and applying for at least 10 each day. “I go to resume workshops, job fairs, networking groups. I do all that stuff.”
The low-skilled jobs just aren’t there
Even some younger workers are hurting. A couple in their mid-30s in Ocala, Florida has been living out of motel rooms and their car since last summer.
“From 2003 to 2008, I had done retail, salon work, and various low-pay customer service type jobs, some being contractual or temping,” J.P., in her mid-30s, told CNNMoney. “I bounced around all over the place in several industries. I just couldn’t find anything to stick.”
J.P. never finished college. She went back to school after the recession because people urged her to earn various Computing Technology Industry Association certifications, know as CompTIAs. Tech jobs were plentiful, they said.
“I am now certified, trained and ready to work in a new industry, but that industry has left the building,” J.P. says. Despite her certifications, she hasn’t been able to get a new jobs. She blames IT jobs going abroad.
Part-time workers now visit food pantries
A lot of people wonder why the unemployed don’t just get a job at a Walmart or McDonald’s? Those on the front lines of helping the poor and homeless say it’s not that easy.
At the Quakertown Food Pantry not far from where Joe lives, they served 715 families in March. It’s down a bit from the peak in 2013. but still uncomfortably high for a region that is growing.
“People have found jobs, but not full-time,” says Dawn Schaefer, who has volunteered at the pantry for eight years. “There’s a epidemic of part-time workers,”
In all her years at the pantry, Schaefer says what has changed most is the increase in the number of people coming who have jobs, but it’s just not enough for them to pay rent and eat.
“Most of the people we help would love to have a living wage job that they can support their family or themselves,” says Donna Berger, another food pantry volunteer.
Joe isn’t sure if he’ll vote in the Pennsylvania primary on Tuesday. He says America “took a wrong turn many, many years ago.” He’s not sure if anyone can get it back on track.
If he could do it all over again, he would go back and learn more of a trade like auto repair or plumbing.
“Even Donald Trump has to write a check to his plumber,” he says.
44.7 million Americans remain on food stamps despite the low 5% unemployment rate. CNNMoney profiles people who went from middle or lower middle class to homeless as they struggle to find permanent, full-time work.
---------------
How I went from middle class to homeless
NEW YORK — Trash bags and boxes fill Joe’s mobile home in a Philadelphia suburb. This isn’t spring cleaning. Joe is about to become homeless.
Unless “a miracle happens,” Joe will likely live in his 2001 Chevrolet Venture minivan by the summer. He removed the seats in the back to make space for a sleeping bag, his laptop and some clothes.
Soon to turn 61, Joe never imagined he would be in this position.
“When I was a kid growing up…America was the greatest place on planet earth. We were the envy of the civilized world. I never thought this could happen here,” Joe says. CNNMoney agreed not to use his last name because he worries potential future employers will Google him.
Joe’s big fear is that people assume he’s lazy. He wore a suit for his interview with CNNMoney and hid his eyes behind big dark glasses because he is ashamed his life has come to this.
Joe’s worked all his life, starting at age 11 pushing a broom around an uncle’s shop. He earned two associate’s degrees in electrical engineering technology and mechanical engineering technology and built a “blue collar” career as a technician, tester and machine operator. He loves factories and figuring out how things work.
Trump talks often about manufacturing job losses
When manufacturing jobs dried up in southeastern Pennsylvania, Joe moved to Minnesota. By the late 1990s, he earned $15 an hour, what he dubs a solid “lower middle class” wage. He figured he would work his way up, get a few raises and maybe buy a home. The American Dream seemed within reach.
Then his mother got sick. As the oldest child, he moved back to Pennsylvania in 1999 to care for her. Never married, Joe bought a trailer home with his mother. He managed to get jobs through temp agencies, but the work was never steady. He never earned $15 again.
Since being laid off in April 2013 from a manufacturing job, he’s worked on and off a total of only seven months. He has drained his savings and retirement accounts and his mother is now in a nursing home, funded by what remains of her life savings and Medicaid.
Presidential candidate Donald Trump, a heavy favorite to win Pennsylvania, brings up the plight of people like Joe often in his stump speeches. He recently pointed out that the Keystone state has lost “35% of its manufacturing jobs since 2001.”
Older job seekers seen as ‘unemployables’
Joe is hit by a double-whammy: his age and his blue-collar career. Workers over 50 have been dubbed the “new unemployables.”
Still hopeful he’ll get a job, Joe applies to a few positions a week. His barber acts as his recruiter, asking everyone who comes in the shop if they have heard of openings and will call Joe right away when he gets news.
“Yes, I am an older worker, but my life’s worth of experience could make me an asset to many places if I could only get the chance to show them,” Joe says. The few interviews he’s had are short. He feels no one wants to hire “the old guy.”
Joe’s mobile home is paid off, but he owes $483 a month for the lot rent in the mobile home park. He doesn’t have the money for May or beyond.
The hurting economy
Joe is one of 8 million unemployed Americans who remain without work despite a hiring surge in recent years.
The hurting economy still exists. Perhaps the most telling sign that the U.S. isn’t back to normal is the 44.7 million Americans on food stamps. Joe is one of them, something else he never envisioned in his life.
Before the financial crisis there were only 26.3 million people on food stamps.
‘I just want a job’
CNNMoney has been in touch with several people who have gone from “getting by” to homeless — or nearly there.
Linda Norris of New Hampshire is in her early 50s. A college graduate, she built a career in the defense contracting field, working her way up to be a senior engineering manager. But between the recession and cuts to the defense budget, she has found herself in short-term jobs. After being laid off again last summer, she has exhausted her savings and had to move in with a friend, becoming effectively homeless.
“It’s really hard to live on $0 income,” says Norris, who spends her time scouring through job openings and applying for at least 10 each day. “I go to resume workshops, job fairs, networking groups. I do all that stuff.”
The low-skilled jobs just aren’t there
Even some younger workers are hurting. A couple in their mid-30s in Ocala, Florida has been living out of motel rooms and their car since last summer.
“From 2003 to 2008, I had done retail, salon work, and various low-pay customer service type jobs, some being contractual or temping,” J.P., in her mid-30s, told CNNMoney. “I bounced around all over the place in several industries. I just couldn’t find anything to stick.”
J.P. never finished college. She went back to school after the recession because people urged her to earn various Computing Technology Industry Association certifications, know as CompTIAs. Tech jobs were plentiful, they said.
“I am now certified, trained and ready to work in a new industry, but that industry has left the building,” J.P. says. Despite her certifications, she hasn’t been able to get a new jobs. She blames IT jobs going abroad.
Part-time workers now visit food pantries
A lot of people wonder why the unemployed don’t just get a job at a Walmart or McDonald’s? Those on the front lines of helping the poor and homeless say it’s not that easy.
At the Quakertown Food Pantry not far from where Joe lives, they served 715 families in March. It’s down a bit from the peak in 2013. but still uncomfortably high for a region that is growing.
“People have found jobs, but not full-time,” says Dawn Schaefer, who has volunteered at the pantry for eight years. “There’s a epidemic of part-time workers,”
In all her years at the pantry, Schaefer says what has changed most is the increase in the number of people coming who have jobs, but it’s just not enough for them to pay rent and eat.
“Most of the people we help would love to have a living wage job that they can support their family or themselves,” says Donna Berger, another food pantry volunteer.
Joe isn’t sure if he’ll vote in the Pennsylvania primary on Tuesday. He says America “took a wrong turn many, many years ago.” He’s not sure if anyone can get it back on track.
If he could do it all over again, he would go back and learn more of a trade like auto repair or plumbing.
“Even Donald Trump has to write a check to his plumber,” he says.
44.7 million Americans remain on food stamps despite the low 5% unemployment rate. CNNMoney profiles people who went from middle or lower middle class to homeless as they struggle to find permanent, full-time work.
High oil necessary to make alt energy viable.. This one of the few things I agree with government intervention on.. Fluffing oil if they can.. Regardless of warming issue.. As a species we really need to ween ourselves offa fossil fues or we are doomed... It will be a long slow process.. China currently hoarding all the oil they can store with the cheap prices...
In sum, our immediate, near-term view is rather neutral here. Our cyclical view remains that the market continues to trace out the arc of a broad top-formation, and we would view a 50% market loss as a wholly run-of-the-mill outcome over the completion of the current market cycle. Marginal new highs in the market would not change those views any more than the marginal new high in October 2007 changed our expectations prior to the global financial crisis. Our long-term estimate of expected 10-12 year S&P 500 nominal total returns remains in the range of 0-2% annually, with negative expected real returns on both horizons. Those who are comfortable with these prospects and attendant risks, believing that zero interest rate policy “justifies” historically obscene valuations on highly reliable measures (and the dismal long-term outcomes these valuations imply, and have always implied across history), are certainly welcome to view current market valuations as “justified.” Hey, knock yourself out.
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http://hussman.net/wmc/wmc160502.htm
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http://hussman.net/wmc/wmc160502.htm
[h=1]Oscar De La Hoya says Donald Trump ‘is trying to get Hillary Clinton elected’[/h]Oscar De La Hoya was inspired to set up a fight between Canelo Alvarez and Amir Khan. (Alex Goodlett/Getty Images)
Oscar De La Hoya used to consider Donald Trump a friend, once describing him as a “nice guy I’ve played golf with.” But that was before Trump made attacks on Mexican immigrants a mainstay of his presidential candidacy, and now the boxer thinks much less of his former pal.
But De La Hoya, a Los Angeles native whose parents came from Mexico, is still “surprised” at Trump’s apparent change in character. In an interview Wednesday with TMZ Sports, the former U.S. Olympic gold medalist was asked if he thought Trump was putting on “an act.” De La Hoya’s response:
Back in June, Trump began his presidential campaign with controversial comments about Mexican immigrants, saying that “they’re bringing drugs” and are “rapists.” Shortly after that, De La Hoya told a video journalist that those comments were “terrible, terrible,” and, looking straight into the camera, he advised viewers, “Go out and vote, because your vote counts. And obviously, do not vote for Donald Trump.”
Trump has also offended many, while attracting support from others, with his stated views on Muslims. De La Hoya told TMZ Sports that he was inspired by the candidate’s performances in “the presidential debates” to set up a May fight between Amir Khan, a Muslim, and Mexican star Canelo Alvarez, all the better ” to create this big, mega-event and show Trump that we belong in this country.”
“I’m surprised because this is not the Trump that I’ve gotten to know in these last several years. Before he even started to become this super-popular candidate, I knew Trump, and we actually played golf, and I’m very surprised he’s coming out with all these comments,” De La Hoya said.
Apparently it would not surprise the fighter if he learned that his former golfing buddy was secretly teeing things up for Clinton.
Oscar De La Hoya used to consider Donald Trump a friend, once describing him as a “nice guy I’ve played golf with.” But that was before Trump made attacks on Mexican immigrants a mainstay of his presidential candidacy, and now the boxer thinks much less of his former pal.
But De La Hoya, a Los Angeles native whose parents came from Mexico, is still “surprised” at Trump’s apparent change in character. In an interview Wednesday with TMZ Sports, the former U.S. Olympic gold medalist was asked if he thought Trump was putting on “an act.” De La Hoya’s response:
“I truly feel that, at the end of the day, I think he’s trying to get Hillary Clinton elected.”
De La Hoya, of course, is not the first to espouse this theory. Among others, a certain former rival for the GOP nomination expressed a version of it, back when Trump was hinting at switching to an independent run for the presidency.
Back in June, Trump began his presidential campaign with controversial comments about Mexican immigrants, saying that “they’re bringing drugs” and are “rapists.” Shortly after that, De La Hoya told a video journalist that those comments were “terrible, terrible,” and, looking straight into the camera, he advised viewers, “Go out and vote, because your vote counts. And obviously, do not vote for Donald Trump.”
Trump has also offended many, while attracting support from others, with his stated views on Muslims. De La Hoya told TMZ Sports that he was inspired by the candidate’s performances in “the presidential debates” to set up a May fight between Amir Khan, a Muslim, and Mexican star Canelo Alvarez, all the better ” to create this big, mega-event and show Trump that we belong in this country.”
“I’m surprised because this is not the Trump that I’ve gotten to know in these last several years. Before he even started to become this super-popular candidate, I knew Trump, and we actually played golf, and I’m very surprised he’s coming out with all these comments,” De La Hoya said.
Apparently it would not surprise the fighter if he learned that his former golfing buddy was secretly teeing things up for Clinton.
[h=1]Putting the Tesla HEPA Filter and Bioweapon Defense Mode to the Test[/h]Air pollution has a significant and pervasive impact on public health. According to the World Health Organization, it is now considered "the world's largest single environmental health risk," with more than three million people dying every year as a result. This is more than twice the number of people that die in vehicle accidents each year.
Health and safety are important to us. Just as we've designed Model S and Model X to avoid collisions or protect their occupants when one happens, we felt compelled to protect them against the statistically more relevant hazard of air pollution*. Inspired by the air filtration systems used in hospitals, clean rooms, and the space industry, we developed a HEPA filtration system capable of stripping the outside air of pollen, bacteria, and pollution before they enter the cabin and systematically scrubbing the air inside the cabin to eliminate any trace of these particles. The end result is a filtration system hundreds of times more efficient than standard automotive filters, capable of providing the driver and her passengers with the best possible cabin air quality no matter what is happening in the environment around them.
The air filtration system was put to the test in real-world environments from California freeways during rush hour, to smelly marshes, landfills, and cow pastures in the central valley of California, to major cities in China. We wanted to ensure that it captured fine particulate matter and gaseous pollutants, as well as bacteria, viruses, pollen and mold spores.
We then decided to take things a step further and test the complete system as we would on the road, but in an environment where we could precisely control and carefully monitor atmospheric conditions. A Model X was placed in a large bubble contaminated with extreme levels of pollution (1,000 µg/m[SUP]3[/SUP] of PM2.5 vs. the EPA's "good" air quality index limit of 12 µg/m[SUP]3[/SUP]). We then closed the falcon doors and activated Bioweapon Defense Mode.
The plot below shows the subsequent evolution in pollution levels inside the vehicle and inside the bubble. In less than two minutes, the HEPA filtration system had scrubbed the air in Model X, bringing pollution levels from an extremely dangerous 1,000 µg/m[SUP]3[/SUP] to levels so low as to be undetectable (below the noise floor) by our instruments, allowing us to remove our gas masks and breathe fresh air while sitting inside a bubble of pollution.
Not only did the vehicle system completely scrub the cabin air, but in the ensuing minutes, it began to vacuum the air outside the car as well, reducing PM2.5 levels by 40%. In other words, Bioweapon Defense Mode is not a marketing statement, it is real. You can literally survive a military grade bio attack by sitting in your car.
Moreover, it will also clean the air outside your car, making things better for those around you. And while this test happened to be done with a Model X, the same would be true of the new Model S now in production.
Tesla will continue to improve the micro-geometry and chemical passivation defenses in the primary and secondary filters, which are easily replaceable, so this will get better the longer you own your car. Suggestions for improvement are welcome.
* According to the World Health Organization, average annual PM2.5 levels (the most dangerous form of pollution) reach 56 µg/m[SUP]3[/SUP] in Beijing, 25 µg/m[SUP]3[/SUP] in Mexico City, 21 µg/m[SUP]3[/SUP] in Hong Kong, 20 µg/m[SUP]3[/SUP] in Los Angeles, 20 µg/m[SUP]3[/SUP] in Berlin, 17 µg/m[SUP]3[/SUP] in Paris, and 16 µg/m[SUP]3[/SUP] in London. Based on the findings of a 2013 study conducted at Harvard, these levels of pollution would result in population-averaged life expectancy reductions of 23 months in Beijing, 10 months in Mexico City, 9 months in Hong Kong, 8 months in Berlin and Los Angeles, and 7 months in Paris and London.
Health and safety are important to us. Just as we've designed Model S and Model X to avoid collisions or protect their occupants when one happens, we felt compelled to protect them against the statistically more relevant hazard of air pollution*. Inspired by the air filtration systems used in hospitals, clean rooms, and the space industry, we developed a HEPA filtration system capable of stripping the outside air of pollen, bacteria, and pollution before they enter the cabin and systematically scrubbing the air inside the cabin to eliminate any trace of these particles. The end result is a filtration system hundreds of times more efficient than standard automotive filters, capable of providing the driver and her passengers with the best possible cabin air quality no matter what is happening in the environment around them.
The air filtration system was put to the test in real-world environments from California freeways during rush hour, to smelly marshes, landfills, and cow pastures in the central valley of California, to major cities in China. We wanted to ensure that it captured fine particulate matter and gaseous pollutants, as well as bacteria, viruses, pollen and mold spores.
We then decided to take things a step further and test the complete system as we would on the road, but in an environment where we could precisely control and carefully monitor atmospheric conditions. A Model X was placed in a large bubble contaminated with extreme levels of pollution (1,000 µg/m[SUP]3[/SUP] of PM2.5 vs. the EPA's "good" air quality index limit of 12 µg/m[SUP]3[/SUP]). We then closed the falcon doors and activated Bioweapon Defense Mode.
The plot below shows the subsequent evolution in pollution levels inside the vehicle and inside the bubble. In less than two minutes, the HEPA filtration system had scrubbed the air in Model X, bringing pollution levels from an extremely dangerous 1,000 µg/m[SUP]3[/SUP] to levels so low as to be undetectable (below the noise floor) by our instruments, allowing us to remove our gas masks and breathe fresh air while sitting inside a bubble of pollution.
Not only did the vehicle system completely scrub the cabin air, but in the ensuing minutes, it began to vacuum the air outside the car as well, reducing PM2.5 levels by 40%. In other words, Bioweapon Defense Mode is not a marketing statement, it is real. You can literally survive a military grade bio attack by sitting in your car.
Moreover, it will also clean the air outside your car, making things better for those around you. And while this test happened to be done with a Model X, the same would be true of the new Model S now in production.
Tesla will continue to improve the micro-geometry and chemical passivation defenses in the primary and secondary filters, which are easily replaceable, so this will get better the longer you own your car. Suggestions for improvement are welcome.
* According to the World Health Organization, average annual PM2.5 levels (the most dangerous form of pollution) reach 56 µg/m[SUP]3[/SUP] in Beijing, 25 µg/m[SUP]3[/SUP] in Mexico City, 21 µg/m[SUP]3[/SUP] in Hong Kong, 20 µg/m[SUP]3[/SUP] in Los Angeles, 20 µg/m[SUP]3[/SUP] in Berlin, 17 µg/m[SUP]3[/SUP] in Paris, and 16 µg/m[SUP]3[/SUP] in London. Based on the findings of a 2013 study conducted at Harvard, these levels of pollution would result in population-averaged life expectancy reductions of 23 months in Beijing, 10 months in Mexico City, 9 months in Hong Kong, 8 months in Berlin and Los Angeles, and 7 months in Paris and London.
Looks like commodity squeeze (minus gold which will go up with carnage) over now that China PMI still coming in bad.. Hopes of China dragging us along in slow growth world fading...
after this recession/flush will be time to buy commodities with both fists.. Recent rally sucking people in before rug pull IMO
that said ya never know I guess with central banks.. Aussie did a "surprise" rate cut after shitty China PMI as they dependent heavily on China consuming their resources...
after this recession/flush will be time to buy commodities with both fists.. Recent rally sucking people in before rug pull IMO
that said ya never know I guess with central banks.. Aussie did a "surprise" rate cut after shitty China PMI as they dependent heavily on China consuming their resources...
Dangle a bunch of cheap credit in front of idiots and they will be idiots.. Gonna be hilarious slump once the tide turns... For now bubble on further!!! Also everybody lining up to buy gas guzzlers with the dip in oil too..
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U.S. Auto Sales Push Records as Consumers Defy Global Slump
[COLOR=rgba(0, 0, 0, 0.65098)]
[/COLOR]
The U.S. may be the lone bright spot in an otherwise sluggish global economy as American consumers continue to buy expensive new vehicles at record levels.
With several automakers having reported U.S. sales, companies say the industry is on pace for the best April ever. They’re selling more expensive sport utility vehicles and pickups, a clear sign that consumers are confident enough to make big purchases.
April’s results show a rebound from the first quarter, when sales were at historically high levels but showed slowing growth. The next few months of auto sales will show whether the U.S. economy has staying power, especially if consumers maintain buying momentum.
“It’s a very nice rebound from the softness we saw in March,” said Jeff Schuster, senior analyst with IHS Automotive in Troy, Michigan. “The U.S. economy is set up pretty well to weather the global slowdown. The next several months will be the real test.”
Investors may need more evidence of strength before betting on the auto industry. Despite the strong month, General Motors Co. shares fell more than 1 percent to $31.38, Ford Motor Co. was down 1.1 percent to $13.47 and Fiat Chrysler Automobiles NV was off more than 2 percent to $8.01 at 1:07 p.m. in New York. Auto stocks fell during a broad market selloff that saw the Dow Jones Industrial Average and Standard & Poor’s 500 Index both fall almost 1 percent.
Some automakers are more cautious in their optimism. Nissan Motor Co. spent 12 percent more on sales incentives than it did a year ago, with an average cost of $3,300. Some of that was done to clear out lingering 2015 model cars, but the company isn’t convinced that good times are here to stay, said Judy Wheeler, vice president of sales for Nissan’s U.S. business.
“The market is not quite as robust as it was last year, and that’s what you’re starting to see,’’ Wheeler said. “But it will still be fairly strong.’’
The strong month came even as most automakers pulled back on rebates and incentive deals. GM said that all carmakers discounted vehicles by about 10 percent of average transaction prices. In the first quarter, the average discount amounted to 11 percent of the average sale price, Schuster said.
FCA said Tuesday that its U.S. sales rose 5.6 percent in April, beating analysts’ estimates and extending its streak of monthly gains to more than six years -- thanks to the popularity of Jeep SUVs and Ram pickups. Nissan, Toyota Motor Corp. and Honda Motor Co. also beat estimates, while Ford and GM missed lofty expectations.
FCA’s sales reached 199,631 cars and light trucks, the automaker said in a statement. That easily beat analysts’ estimates of 4.3 percent growth. Jeep sales, which boosted the carmaker’s first-quarter profit, jumped 17 percent from a year earlier, as Compass and Renegade more than doubled. The Ram truck brand gained 12 percent to 45,810.
SUV, Pickups
“Consumer preference for SUVs and pickup trucks continued unabated in April and helped to propel us to our strongest April sales in 11 years,” Reid Bigland, head of U.S. sales for FCA, said in the statement. The company has been increasing production of SUVs and pickups to meet consumer demand.
Even as consumers slowed new-vehicle purchases in March, a strong labor market, available credit and relatively cheap gasoline will fuel 17.8 million in new car and light truck deliveries in 2016, beating last year’s record, according to a Bloomberg survey.
“There was a little bit of nail-biting in terms of what March was and what it meant going forward,” said Kevin Tynan, an auto-industry analyst with Bloomberg Intelligence. “April was important.”
Nissan was projected to be the biggest gainer among the top automakers and it didn’t disappoint: Sales rose 13 percent, topping the 11 percent average estimate. Nissan brand light-truck sales rose 10 percent to an April record, and the brand set an April record for cars, too, with Sentra up 12 percent and Altima up 29 percent.
Toyota’s U.S. sales rose 3.8 percent in April compared with the year-ago period, slightly beating estimates. That included a 5 percent increase at the company’s Toyota division, which sold 186,243 cars and trucks in April. The division’s truck sales set a record for the month, with RAV4 sales up 32 percent and Highlander sales up 9.3 percent. At Toyota’s Lexus luxury division, sales dropped 3.8 percent.
Honda sales rose 14 percent, beating the average estimate for a 10 percent increase.
Explorer Gains
Ford’s light-vehicle sales rose 3.6 percent, shy of the average estimate for a 3.8 percent increase, according to Bloomberg. Sales of the F-Series pickup line rose 13 percent and SUV sales also jumped 7.7 percent. The Dearborn, Michigan automaker’s 231,316 total deliveries, including heavy trucks, marked its best April for retail sales in 10 years.
In another sign that consumers are buying expensive vehicles, sales for the Ford Explorer rose 22 percent. The SUV starts at more than $31,000 and can reach well over $50,000.
GM, the only U.S. automaker projected to report a decline, fell more than analysts had projected as sales dropped 3.5 percent, compared with the average estimate of a 1.7 percent drop. All four of GM’s brands were down for the month. The Detroit automaker said it has pulled back on low-margin sales to rental fleet customers and focused on selling more expensive cars to retail buyers, where it reported a 3.3 percent increase.
Silverado Sales
Chevrolet Silverado sales rose 8.7 percent to 49,990, and the new Malibu mid-size sedan gained 25 percent to 21,763, GM said.
The automaker’s pullback on low-margin fleet sales and its focus on retail has resulted in lower-than-expected sales in many months. That’s by design because GM is trying to boost pricing and profits, said Kurt McNeil, GM’s vice president of U.S. sales. The strategy has helped GM post record profits in North America last year and in the first quarter of this year.
For the whole industry, the average projection was for a 17.5 million annualized selling rate for the month, adjusted for seasonal trends. That pace would be an increase of 800,000 from April 2015, which had one less sales day than last month. The month may be even better than anticipated. Fiat Chrysler projected a 17.9 million rate, including medium and heavy-duty trucks, which typically account for at least 200,000.
“A lot of eyes are on auto sales,” Schuster said. “They tend to be out in front of things as it relates to overall health of the economy, of the U.S. consumer. We saw a little bit of weakness in consumer confidence recently, so this should help with that to bring those consumers that are questioning: Where is the U.S. economy right now?”
----------
U.S. Auto Sales Push Records as Consumers Defy Global Slump
[COLOR=rgba(0, 0, 0, 0.65098)]
The U.S. may be the lone bright spot in an otherwise sluggish global economy as American consumers continue to buy expensive new vehicles at record levels.
With several automakers having reported U.S. sales, companies say the industry is on pace for the best April ever. They’re selling more expensive sport utility vehicles and pickups, a clear sign that consumers are confident enough to make big purchases.
April’s results show a rebound from the first quarter, when sales were at historically high levels but showed slowing growth. The next few months of auto sales will show whether the U.S. economy has staying power, especially if consumers maintain buying momentum.
“It’s a very nice rebound from the softness we saw in March,” said Jeff Schuster, senior analyst with IHS Automotive in Troy, Michigan. “The U.S. economy is set up pretty well to weather the global slowdown. The next several months will be the real test.”
Investors may need more evidence of strength before betting on the auto industry. Despite the strong month, General Motors Co. shares fell more than 1 percent to $31.38, Ford Motor Co. was down 1.1 percent to $13.47 and Fiat Chrysler Automobiles NV was off more than 2 percent to $8.01 at 1:07 p.m. in New York. Auto stocks fell during a broad market selloff that saw the Dow Jones Industrial Average and Standard & Poor’s 500 Index both fall almost 1 percent.
Some automakers are more cautious in their optimism. Nissan Motor Co. spent 12 percent more on sales incentives than it did a year ago, with an average cost of $3,300. Some of that was done to clear out lingering 2015 model cars, but the company isn’t convinced that good times are here to stay, said Judy Wheeler, vice president of sales for Nissan’s U.S. business.
“The market is not quite as robust as it was last year, and that’s what you’re starting to see,’’ Wheeler said. “But it will still be fairly strong.’’
The strong month came even as most automakers pulled back on rebates and incentive deals. GM said that all carmakers discounted vehicles by about 10 percent of average transaction prices. In the first quarter, the average discount amounted to 11 percent of the average sale price, Schuster said.
FCA said Tuesday that its U.S. sales rose 5.6 percent in April, beating analysts’ estimates and extending its streak of monthly gains to more than six years -- thanks to the popularity of Jeep SUVs and Ram pickups. Nissan, Toyota Motor Corp. and Honda Motor Co. also beat estimates, while Ford and GM missed lofty expectations.
FCA’s sales reached 199,631 cars and light trucks, the automaker said in a statement. That easily beat analysts’ estimates of 4.3 percent growth. Jeep sales, which boosted the carmaker’s first-quarter profit, jumped 17 percent from a year earlier, as Compass and Renegade more than doubled. The Ram truck brand gained 12 percent to 45,810.
SUV, Pickups
“Consumer preference for SUVs and pickup trucks continued unabated in April and helped to propel us to our strongest April sales in 11 years,” Reid Bigland, head of U.S. sales for FCA, said in the statement. The company has been increasing production of SUVs and pickups to meet consumer demand.
Even as consumers slowed new-vehicle purchases in March, a strong labor market, available credit and relatively cheap gasoline will fuel 17.8 million in new car and light truck deliveries in 2016, beating last year’s record, according to a Bloomberg survey.
“There was a little bit of nail-biting in terms of what March was and what it meant going forward,” said Kevin Tynan, an auto-industry analyst with Bloomberg Intelligence. “April was important.”
Nissan was projected to be the biggest gainer among the top automakers and it didn’t disappoint: Sales rose 13 percent, topping the 11 percent average estimate. Nissan brand light-truck sales rose 10 percent to an April record, and the brand set an April record for cars, too, with Sentra up 12 percent and Altima up 29 percent.
Toyota’s U.S. sales rose 3.8 percent in April compared with the year-ago period, slightly beating estimates. That included a 5 percent increase at the company’s Toyota division, which sold 186,243 cars and trucks in April. The division’s truck sales set a record for the month, with RAV4 sales up 32 percent and Highlander sales up 9.3 percent. At Toyota’s Lexus luxury division, sales dropped 3.8 percent.
Honda sales rose 14 percent, beating the average estimate for a 10 percent increase.
Explorer Gains
Ford’s light-vehicle sales rose 3.6 percent, shy of the average estimate for a 3.8 percent increase, according to Bloomberg. Sales of the F-Series pickup line rose 13 percent and SUV sales also jumped 7.7 percent. The Dearborn, Michigan automaker’s 231,316 total deliveries, including heavy trucks, marked its best April for retail sales in 10 years.
In another sign that consumers are buying expensive vehicles, sales for the Ford Explorer rose 22 percent. The SUV starts at more than $31,000 and can reach well over $50,000.
GM, the only U.S. automaker projected to report a decline, fell more than analysts had projected as sales dropped 3.5 percent, compared with the average estimate of a 1.7 percent drop. All four of GM’s brands were down for the month. The Detroit automaker said it has pulled back on low-margin sales to rental fleet customers and focused on selling more expensive cars to retail buyers, where it reported a 3.3 percent increase.
Silverado Sales
Chevrolet Silverado sales rose 8.7 percent to 49,990, and the new Malibu mid-size sedan gained 25 percent to 21,763, GM said.
The automaker’s pullback on low-margin fleet sales and its focus on retail has resulted in lower-than-expected sales in many months. That’s by design because GM is trying to boost pricing and profits, said Kurt McNeil, GM’s vice president of U.S. sales. The strategy has helped GM post record profits in North America last year and in the first quarter of this year.
For the whole industry, the average projection was for a 17.5 million annualized selling rate for the month, adjusted for seasonal trends. That pace would be an increase of 800,000 from April 2015, which had one less sales day than last month. The month may be even better than anticipated. Fiat Chrysler projected a 17.9 million rate, including medium and heavy-duty trucks, which typically account for at least 200,000.
“A lot of eyes are on auto sales,” Schuster said. “They tend to be out in front of things as it relates to overall health of the economy, of the U.S. consumer. We saw a little bit of weakness in consumer confidence recently, so this should help with that to bring those consumers that are questioning: Where is the U.S. economy right now?”
This is indicative of what is now a long-term trend. Have a look at the following chart from WSJ, which shows that since 2009, the share of monthly auto leases as a percentage of vehicle sales well more than tripled:
Of course the thing about leased vehicles is that they come back, and as WSJ wrote last week, “about 3.1 million vehicles will return to dealer lots off leases this year, up 20% from 2015 [and] the number will climb to 3.6 million in 2017 and 4 million in 2018.”
Of course the thing about leased vehicles is that they come back, and as WSJ wrote last week, “about 3.1 million vehicles will return to dealer lots off leases this year, up 20% from 2015 [and] the number will climb to 3.6 million in 2017 and 4 million in 2018.”
Old senile Ron preaching to empty ears.. He was our last hope.. Now we stuck with trump vs Hillary.. Most laughed at him and call him a kook.. History won't..
----------
Ron Paul: "Our Economic System Is Designed To Fail"
Submitted Op-Ed via RT.com,
The current economic system is designed to fail, but so was socialism.That’s according to former GOP Congressman Ron Paul, who told RT’s Boom Bust show that we need to go toward a system of property ownership, voluntary contracts and individual liberty, while getting rid of central banks.
Ron Paul begins at 14:35...
A new Harvard University poll shows that 51 per cent of young adults aged 18-29 oppose capitalism in its current form.
RT: Do you think this poll is just politics, or do you agree that there is something wrong with the US economic system as it operates today?
Ron Paul: I think the problem is all in semantics. When they say they oppose today’s capitalism, I oppose today’s so-called capitalism. I don’t even like the world “capitalism,” I like “free markets.”But if you say “free markets” and “capitalism” together, we don’t have that. We have interventionism. We have a planned economy, we have a welfare state, we have inflationism, we have central economic planning by a central bank, we have a belief in deficit financing. It is so far removed from free-market capitalism that it’s foolish for people to label it free market and capitalize on this and say: “We know it’s so bad. What we need is socialism.”That is a problem.
That is a problem in definitions and understanding of what kind of policies we have. I am a champion of free markets, but not of the current system that we have today. I am highly critical of it, because it is designed to fail. It is designed to reward the rich; it is designed inevitably to destroy the middle class, and also to finance some of the worst things in government: all the deficits with the welfare state and for the warfare state. So yes, it’s failing. People should reject what we have, but they shouldn’t reject liberty and freedom and sound economic policies, because that is not the problem. The problem is we don’t have enough free markets.
RT: In the same poll it is said that Senator Bernie Sanders, a self-described democratic socialist, has been the most popular candidate for America’s 18-29 year olds. Despite the fact that he is now losing steam, as we’ve seen on the campaign trail, what does it really say to you about what’s driving this voting pattern?
RP: He’s tapped into something,something that I’ve talked about for years and tapped into when I was a candidate. And that is to describe the frustrations, the evil, and the nonsense of what we have. The problem with Bernie and myself is that he sees it quite differently. He thinks that it’s too much freedom and too much capitalism. And I see it as too much government; it’s too much of interventionist planned economy, which leans itself to fascism. But the young people might not understand the economics and what free markets are really all about, and they don’t understand central banking. And Bernie doesn’t understand that we have to get rid of central planning – from the Central Bank – if we want to help these people.
The current economic system is designed to fail, but so was socialism. What we need to go toward is property ownership, voluntary contracts and individual liberty in getting rid of the central bank.
But yes, I am not a bit surprised – it is a good sign that they are upset and they ought to be. What I have in mind is to show them the difference between what we have and what we should have. And believe me, it is not going toward this ancient tradition of government and socialism. We’ve tested socialism. Socialism has been a complete failure. That is what the 20th century was all about, whether it was a fascist system in Germany, or the Soviet system of communism – this all has been a failure. So you don’t want to go toward socialism, you have to go toward property ownership, volunteer contracts and individual liberty in getting rid of the central bank. Then you might talk about a real alternative. But the young people have a justification; they are justified in detesting what we have, because it has served the rich and has really hurt the poor and the middle class.
RT: Some would argue that the data does signal a generational shift is under way here, in which more young people are receptive to bigger government, rather than smaller government right now. And the issues that young people care at this moment are low wages, jobs, student debt, income inequality, etc. You would probably argue that libertarianism can still best tackle those problems. How so?
RP: I don’t think the young people would. They might be sucked into believing that the government can give them a temporary benefit by raising a wage, but they just need a better understanding. But they are not for the big government when it comes to their personal liberties, their sexual habits, the civil liberties that they like. They like their privacy. So I don’t think they are looking for bigger government. The young people that I talked to – they are not looking for a bigger government and more militarism; they are not championing the person that wants to spend a lot more money on military and rebuild the military – that’s all big government.
But yes, they are tempted because of this lack of understanding to go along with bigger government, when it comes to trying to have a better economic system. This is a result of a hundred years of teaching our young people that government is necessary to redistribute wealth. And they do – they redistribute wealth – the more they try, the more the wealthy get wealthier. It redistributes it upward, and it ruins the middle class. That is what they have to understand. But they’re onto something and they should be justified in looking at this. But, as a group of people, the millennials are not looking for more government. Only in that economic sphere are they tempted to look at this. There are many others who declare themselves libertarians. They want less government in their lives and they want more privacy and they want [fewer] wars.
RT: When you ran for president four years ago, you had a message that resonated with young people. Your comments that fixing the economy should start with fixing foreign policy were very popular. Do those voters still exist and where did they go?
RP: I think a lot of them are sitting on their hands and rightfully so. How could they pick somebody that would champion those same views? But some who are just loosely connected, not well-informed and get led into believing that we have to have a super military force to rule the world, and police the world, and be occupying these countries - yes, they get tempted to go along with this. But the true believer in a free society – they are not champing at the bit to champion the cause of any of these candidates right now…
RT: Some of those voters might have gone over to Donald Trump. He is the frontrunner on the GOP side. The economy is still the most important issue for voters, and he has been most vocal about amending NAFTA, reducing taxes, building a wall between the US and Mexico, and so on. What is it really do you think at the end of the day? What is so appealing here to his voters?
RP: He has a personality, he has a megaphone, and he is getting the attention, and you don’t have anybody in particular out there talking about the real economic issues. But he is regressive… he is falling backward. He is going to the dark ages of thinking that he can go into mercantilism, protect natural resources, put on tariffs, and just bash and blame everybody else: The Mexicans, the Chinese. That is going to be devastating to the economy – it has nothing to do with freedom. It has to do with the opposite – it is an exaggeration of economic planning that we already have. So he is going in the wrong direction, just as Bernie is, even if they are both tapping into the disenchantment that… a lot of people have with what is happening.
----------
Ron Paul: "Our Economic System Is Designed To Fail"
Submitted Op-Ed via RT.com,
The current economic system is designed to fail, but so was socialism.That’s according to former GOP Congressman Ron Paul, who told RT’s Boom Bust show that we need to go toward a system of property ownership, voluntary contracts and individual liberty, while getting rid of central banks.
Ron Paul begins at 14:35...
A new Harvard University poll shows that 51 per cent of young adults aged 18-29 oppose capitalism in its current form.
RT: Do you think this poll is just politics, or do you agree that there is something wrong with the US economic system as it operates today?
Ron Paul: I think the problem is all in semantics. When they say they oppose today’s capitalism, I oppose today’s so-called capitalism. I don’t even like the world “capitalism,” I like “free markets.”But if you say “free markets” and “capitalism” together, we don’t have that. We have interventionism. We have a planned economy, we have a welfare state, we have inflationism, we have central economic planning by a central bank, we have a belief in deficit financing. It is so far removed from free-market capitalism that it’s foolish for people to label it free market and capitalize on this and say: “We know it’s so bad. What we need is socialism.”That is a problem.
That is a problem in definitions and understanding of what kind of policies we have. I am a champion of free markets, but not of the current system that we have today. I am highly critical of it, because it is designed to fail. It is designed to reward the rich; it is designed inevitably to destroy the middle class, and also to finance some of the worst things in government: all the deficits with the welfare state and for the warfare state. So yes, it’s failing. People should reject what we have, but they shouldn’t reject liberty and freedom and sound economic policies, because that is not the problem. The problem is we don’t have enough free markets.
RT: In the same poll it is said that Senator Bernie Sanders, a self-described democratic socialist, has been the most popular candidate for America’s 18-29 year olds. Despite the fact that he is now losing steam, as we’ve seen on the campaign trail, what does it really say to you about what’s driving this voting pattern?
RP: He’s tapped into something,something that I’ve talked about for years and tapped into when I was a candidate. And that is to describe the frustrations, the evil, and the nonsense of what we have. The problem with Bernie and myself is that he sees it quite differently. He thinks that it’s too much freedom and too much capitalism. And I see it as too much government; it’s too much of interventionist planned economy, which leans itself to fascism. But the young people might not understand the economics and what free markets are really all about, and they don’t understand central banking. And Bernie doesn’t understand that we have to get rid of central planning – from the Central Bank – if we want to help these people.
The current economic system is designed to fail, but so was socialism. What we need to go toward is property ownership, voluntary contracts and individual liberty in getting rid of the central bank.
But yes, I am not a bit surprised – it is a good sign that they are upset and they ought to be. What I have in mind is to show them the difference between what we have and what we should have. And believe me, it is not going toward this ancient tradition of government and socialism. We’ve tested socialism. Socialism has been a complete failure. That is what the 20th century was all about, whether it was a fascist system in Germany, or the Soviet system of communism – this all has been a failure. So you don’t want to go toward socialism, you have to go toward property ownership, volunteer contracts and individual liberty in getting rid of the central bank. Then you might talk about a real alternative. But the young people have a justification; they are justified in detesting what we have, because it has served the rich and has really hurt the poor and the middle class.
RT: Some would argue that the data does signal a generational shift is under way here, in which more young people are receptive to bigger government, rather than smaller government right now. And the issues that young people care at this moment are low wages, jobs, student debt, income inequality, etc. You would probably argue that libertarianism can still best tackle those problems. How so?
RP: I don’t think the young people would. They might be sucked into believing that the government can give them a temporary benefit by raising a wage, but they just need a better understanding. But they are not for the big government when it comes to their personal liberties, their sexual habits, the civil liberties that they like. They like their privacy. So I don’t think they are looking for bigger government. The young people that I talked to – they are not looking for a bigger government and more militarism; they are not championing the person that wants to spend a lot more money on military and rebuild the military – that’s all big government.
But yes, they are tempted because of this lack of understanding to go along with bigger government, when it comes to trying to have a better economic system. This is a result of a hundred years of teaching our young people that government is necessary to redistribute wealth. And they do – they redistribute wealth – the more they try, the more the wealthy get wealthier. It redistributes it upward, and it ruins the middle class. That is what they have to understand. But they’re onto something and they should be justified in looking at this. But, as a group of people, the millennials are not looking for more government. Only in that economic sphere are they tempted to look at this. There are many others who declare themselves libertarians. They want less government in their lives and they want more privacy and they want [fewer] wars.
RT: When you ran for president four years ago, you had a message that resonated with young people. Your comments that fixing the economy should start with fixing foreign policy were very popular. Do those voters still exist and where did they go?
RP: I think a lot of them are sitting on their hands and rightfully so. How could they pick somebody that would champion those same views? But some who are just loosely connected, not well-informed and get led into believing that we have to have a super military force to rule the world, and police the world, and be occupying these countries - yes, they get tempted to go along with this. But the true believer in a free society – they are not champing at the bit to champion the cause of any of these candidates right now…
RT: Some of those voters might have gone over to Donald Trump. He is the frontrunner on the GOP side. The economy is still the most important issue for voters, and he has been most vocal about amending NAFTA, reducing taxes, building a wall between the US and Mexico, and so on. What is it really do you think at the end of the day? What is so appealing here to his voters?
RP: He has a personality, he has a megaphone, and he is getting the attention, and you don’t have anybody in particular out there talking about the real economic issues. But he is regressive… he is falling backward. He is going to the dark ages of thinking that he can go into mercantilism, protect natural resources, put on tariffs, and just bash and blame everybody else: The Mexicans, the Chinese. That is going to be devastating to the economy – it has nothing to do with freedom. It has to do with the opposite – it is an exaggeration of economic planning that we already have. So he is going in the wrong direction, just as Bernie is, even if they are both tapping into the disenchantment that… a lot of people have with what is happening.
The current economic system is designed to fail, but so was socialism
Hehe. All systems fail because of one fatal weakness. People.
The human genetic weaknesses of power greed corruption and hubris means that even Rome, which had zero real competitors, went
up eventually.
Believing that any economic system is superior to another is to miss the problem entirely
Once they fix the human issue every system will work
Until they fix the human issue every system will lurch along towards its inevitable social collapse, no exceptions
Hehe. All systems fail because of one fatal weakness. People.
The human genetic weaknesses of power greed corruption and hubris means that even Rome, which had zero real competitors, went
up eventually.Believing that any economic system is superior to another is to miss the problem entirely
Once they fix the human issue every system will work
Until they fix the human issue every system will lurch along towards its inevitable social collapse, no exceptions
