Tag: Economics

While we’ve all been busy watching the “oil spill live cam”, a similar uncontrolled discharge has been taking place in Washington, DC

In this case, however, it’s lobbyists that are spilling all over the landscape as the House and Senate attempt to merge their two visions of financial reform.

They’re trying desperately to influence the outcome of the conference in which House and Senate negotiators have been engaged; this to craft the exact language of the reconciled legislation.

There’s an additional element of drama hovering over the events as eight House members, including one of the most vocal of the Republican negotiators, face ethics questions related to this very bill.

The best part: if you’re enough of a political geek, you can actually watch the events unfold, unedited and unfiltered, from the comfort of your very own computer.

So far, it’s been amazing political theater, and if you follow along I’ll tell you how you can get in on the fun, too.

It’s part two of our “Netroots Nation Goes To Vegas Piano Bar Extravaganza”, and in keeping with tradition that means we are again taking a story request.

This time we won’t be talking about energy security or “climate security”; instead, we’ll discuss retirement security, keeping your money for yourself instead of paying it out in “mystery fees”, and how one of the “usual suspects” is at it again.

And if all that wasn’t enough…we also have pie.

Where secrecy or mystery begins, vice or roguery is not far off.

Samuel Johnson

In America, it is no mystery our Society of Secrets began a long time ago. And our Vice and Roguery is in full bloom.

Dear The United Kingdom,

I just wanted to take a minute to say hello and to see how things have been for you lately, and to maybe bring you up to date on a bit of news from here.

Well, right off the bat, we hear you have a new Conservative Prime Minister and that his Party and Nick Clegg and the Lib Dems are in partnership, which I’m sure will be interesting; you probably heard that us Colonials are again having Tea Parties, which has also been very interesting.

I have a Godson who’s getting married this September, so we’re all talking about that, and I hear Graham Norton was even better than last year at hosting Eurovision, despite the fact that it’s…frankly, it’s Eurovision.

Oh, yeah…we also had a bit of an oil spill recently that you may have heard about-and hoo, boy; you should see how the Company that spilled the oil has been acting.

  One of the most misused and abused terms in language today is “free market”.

The definition of a free market is business governed by supply and demand, and not restrained by government regulation or subsidy.

  This definition is often used in conjunction with environmental regulation and minimum wage laws, but almost never with trade between firms and corporations. Which is the problem, because without government protections this “free market” wouldn’t exist.

This was a stunner.  

With all the hoopla about how America desperately needs to become “Energy Independent” — and SO the “urgent need” to Drill off OUR Shorelines — well it turns out, all that Drilling and Spilling, is just for Barrels of Oil, destined for resale on the World Markets!

Turns out — “Our” Gulf Oil is just another “fungible global commodity“!

Huh, what?  Fungy-what?   Does that mean it’s “more fun”?

No.  Fungible simply means something is “interchangeable”.  That One unit of something (like a barrel of Oil) is worth just as much as any other Unit of that same something.  One Ounce of Gold, is exchangeable with any other Ounce of Gold.

Or as Chris Hayes succinctly put it:

There’s NO barrels marked somewhere, “Foreign.”

Say What?  I thought we were risking our precious Ecosystems, to “free ourselves” from the need of Foreign Oil — to increase our “Domestic Reserves”?

If British Petroleum, can pump it and dump it, on the Global Marketplace, where one Barrel of Oil is identical to every other Barrel (assuming no disastrous spills of course) —

Then what the Hell is the Point?

In this mornings Editorial in the NYT, the President of Afghanistan, Hamid Karzai, is labeled as “frustrating, difficult and – as his recent anti-American rants make especially clear – not a reliable partner.” Not necessarily an inaccurate description but then the US government backed him and is now whining because he is acting as the head of a sovereign nation and criticizing the policies of the US and NATO Allies