Category: Economy

By now, Hurricane Gustav is ravaging the great city of New Orleans and the surrounding Gulf Coast.  Our hopes and prayers goes out to the good folks of the area.  Well you probably have guessed, that Johnny Venom would’ve found the economic angle on all this.  Rest assured, fellow Kossacks, I won’t let you down!  But once again, I do hope for the best for the folks aflicted by Gustave.  

Today we saw who John Airbus McCain picked for as his Vice Presidential candidate.  The selection of Alaska Governor, Sarah Palin effectively negates further discussion about Barack’s so-called lack of experience.  The talking heads are say that at the end of the day it’s who is at the top of the ticket that folks will be voting for.  That is true, but I think that misses something very important.

Amazingly, in the past several months I’ve been called a racist 3 times, more than anytime in my life!  The first time was when the Jeremiah Wright thing broke out and I defended the guy, I was called bigoted against whites.  Then, just the other I was called first "pro-Black" then "racist against whites" because I favored Barack Obama over that walking museum piece from Arizona.  Now, today, the conservative economic blog site, Carpe Diem, is labeling people like me racist for demanding things be made in this country!

Yesterday I had hit on the situation going on with the automakers.  Originally, I had intended to include some other stories, but the first piece was large enough (perhaps too large?) that I realized that I had to push the other pieces. Well, as promised, we got some interesting stuff. First on the auto front a cool piece on zero emission cars.  Next we got fallout from biofuels and water preservation.  Third, it seems the Chinese aren’t so thirsty for the black stuff right now. Lastly could the current woes Australia’s mining sector tell us something?  

Heads up on Dennis…

Are you in Denver this week?

Meet Dennis and Elizabeth on Tuesday

Dear Friends,

Yesterday, kicked off what promises to be a great week for Kucinich supporters as we arrived in Denver for the Democratic National Convention. We will be reporting daily from Denver so keep an eye on our website for updates!

Tomorrow, Tuesday, Dennis will address the Democratic National Convention on the pressing issue of the Economy. Be sure to tune in at around 6:00pm ET.

This week too, both the New York Times Magazine (Sunday August 23) and the Washington Post Magazine (Sunday August 31) have special feature articles on your Voice in Congress, Dennis Kucinich.

Dennis will also be on a number of other shows this week including the Bill Maher Show, CNN, The Randi Rhodes Show, Hannity and Colmes. We will give you Dennis’ media appearance notifications on Twitter. (sign up to Twitter for the Kucinich feed here)

If you are in Denver this week, Dennis and I would like to meet you. We will be upstairs at the SkyLark Lounge on Tuesday night from 9pm – 10pm. It’s just going to be a fun and informal gathering.

HERE

SkyLark Lounge

140 S. Broadway

Denver, CO 80203

303-722-7844

RSVP HERE

Letter signed by Elizabeth.   (bold emphasis mine)

And check the graphic for the Skylark Lounge at the link!

Greetings folks, the start of new week and thus we kick off another episode of Manufacturing Monday!  Never a dull moment when it comes to covering stuff that either goes into the products you buy, or the impact that that consumption leads to. Now originally, I had these other items on bio-fuels, hydrogen cars, China and oil, and a few other things.  But I see now that my section on the bailout of the US automakers is so big, that the whole thing is too long.  So, if it is OK with you, I will post those items tomorrow.  

MI is still the home of the auto industry and dependent on them for its economic well being.  From Gov. Granholm’s state of the state:

… we will not concede the automotive industry to any other state or nation.

We are the state that put America on wheels – the state that put the “car” in NASCAR. There is no vision for Michigan’s new economy that does not include cars designed, engineered, and made in Michigan. The industry’s changing – but we in Michigan cannot – will not – abandon it. And we should not allow our government in Washington to abandon it either.

Because of MI sustained efforts to keep and attract automotive research and development companies,

Michigan has more employees and investments in that growing part of our economy than all of the other 49 states, plus Canada, plus Mexico combined.

This is my LTE to numerous newspapers, locally and nationally!

Mr. Out of Touch, McCain!

As of April 22, 2008,

” . . . .When George W. Bush took office in 2000, oil was $28 per barrel, the euro was $.87 on the dollar, gold was $274 per ounce, and the national debt was $5.9 trillion. Today, oil is a record $114 per barrel, the euro is nudging $1.60 on the dollar, gold is $945 per ounce, and the National Debt is $9 trillion. The country is presently engaged in a $2 trillion war in Iraq with no end in sight. The federal government has expanded over 30% under Bush. Wages for working people have stagnated, unemployment has risen, 47 million Americans are without health care, and the economy is slipping into recession. By every objective standard, the country is worse off today than when Bush first took office. . . . (source: “Message To Fed Chief Bernanke: ‘Enough With The Cuts, Already'” — Mike is a freelance writer living in Washington state.)

The contrarian in me is screaming that Reuters’ recent piece on food prices is the food inflation equivalent to Businessweek’s famous “Stocks are dead” headline from a 1982 issue.  Yet another piece is whispering in my hear “baby, it ain’t over yet!”  

For anyone whose read my pieces in the past, knows that I hold a certain disdain towards former Reagan White House OMB Associate Director/conservative-libertarian Ayn Rand acolyte Larry Kudlow.  It’s nothing personal against the guy, it’s his ideas and economic policy objectives that I find fault with.  For the past couple of months, he’s been going on about this is the “Goldilocks economy.”  Essentially, that we’re worrying about nothing because one bad economic indicator is being offset by a good one (mind you, he’s often just used productivity as that one).  Well today, despite his claims that all is almost well, we got some news that just proves Larry Kudlow wrong!  

Greetings ladies and gentlemen to the latest episode of Manufacturing Monday. Couple of interesting things to discus today, and some interesting numbers to watch this week.  First we have what appears to be a new take on price fixing by manufacturers.  Next we explore the recent collapse in the price of grains. Our last piece is a story from the Financial Times where companies and groups are hiring the very element that help drive up their costs, speculators, to well…sorta fight speculators.  Kinda reminds me of those old westerns where they hire a gunfighter to take on the baddie.  Finally, as mentioned, there are numbers we’re watching, the Producer Price Index being released tomorrow, Jobless claims and the Philadelphia Fed Survey on Thursday.