This post was originally written on April 30th but stayed in our draft folder due to a medical emergency... So if the tone is dated the information is of relevance
Posturing and grandstanding on Capital Hill On Tuesday and criminal charges against GS filed on Thursday
Rating agencies and Greece yields competing for the limbo title
US exports numbers making some stocks shoot up but domestic look anemic at best
We are more worried by two events:
The oil spill in the gulf ( going to eclipse the damage of the EXXON VALDEZ)
US Illegals: Immigrants and Emigrants both records...
THE OIL SPILL
The oil slick could become the nation's worst environmental disaster in decades, threatening to eclipse even the Exxon Valdez in scope. It imperils hundreds of species of fish, birds and other wildlife along the Gulf Coast, one of the world's richest seafood grounds, teeming with shrimp, oysters and other marine life.
Sooner or later, the world will realize uncontrolled used of oil and passing on to taxpayers the real costs of its use must stop once and for all...
Europe understood that by taxing the hell out of it and somehow plowing back 30% into non-social projects. Can the US do the same... If you remember THREE MILE INCIDENT, it killed any nuclear plant construction for THIRTY (30) years. WILL this be the watershed event that will seriously curtail high risk drilling? I wouldn't want to be in the DEEP SEA OIL platform BUILDING business for the next three years... New regulations will take for ever to be finalized and in the meantime, the Shipyards will be vacant...
With a bunch of hillbillies , pick-up trucks and tea drinkers poised to wrap themselves in the American gas guzzler fall election parade, I fear the moment has not yet come to see $6 a gallon gas but it is a comin'.
Have you ever seen a COUNTRY SONG where alternative energy, hybrid cars are used?.. NAH! That would be silly and make you look weak. AMERICA stands for lots of BHP under the hood! the land of NASCAR, DRAG RACING, the 18 WHEELER and the DINER!
I think this disaster is going to make RAIL SERVICE have a bigger share of the transportation market. Too bad it falls in the middle of a depression...
EMIGRATION AND IMMIGRATION
Fighting for FIRST PRIZE in the 2010 WORST POLITICAL TIMING DECISION YEAR TO DATE:
1)PRESIDENT OBAMA EXTENDING OFFSHORE DRILLING RIGHTS
and close behind
2)ARIZONA CODIFYING RACIAL PROFILING INTO LAW
Governments are there to serve and protect the people. There are supposed to offer free access to commerce and to support thriving communities where access to education converts into high paying jobs and prosperity for all. They are not there to run car companies, provide arbitrary measures of what constitute value, efficiency or in this case what makes economic sense to a community.
TO start with a cliche , the world's greatest powers were always thriving when immigrants and traders came into to share work and exchange good and services.
THE fall of these mighty empires always can be traced to people not so inclined to come over and just happy to send underlings.
Soon enough this will come back to haunt those short sighted lawmakers as those economies will suffer one of their worst drop in economic activity... Thank god they will be able to blame everything and everybody except themselves... If you think Arizona had cheap real estate, you haven't seen anything yet!
TWO very scary statistics came out this year:
A) 2-3MM "illegal immigrants" aren't coming to work in the USA anymore finding the prospects not worth it. Already many misses in top line revenue by companies who catered to these hard underpaid workers who did the menial jobs any blue blood yank would not dare get his hands dirty doing...
B) A record number of US EMIGRANTS have renounced their citizenship... While a laughable number ( less than 600) it might be a trend as baby boomers realize that the US consumption craze is just not worth it any more especially as their broken Governments at most levels are creeping daily ever more into their affairs neither making them happier, healthier or safer.
Here is a short list of unconfirmed numbers of Ex-Pats who haven't decided to renounce their citizenship just yet but with massive deficits, higher taxes and a socialist agenda, get ready to see those numbers change considerably when 30% of your taxes doesn't have to pay the Pentagon's budget, 40% to Entitlements and most of the rest to debt servicing....
US EXPATRIATES LIVING IN
# Canada - 688,000
# Mexico - 500,000
# Philippines - 250,000
# Israel Israel - 184,195 (admirable precision to collect on Israel bond drives)
# United Kingdom - 150,000
# Germany - 92,000
# Dominican Republic - 80,000
# South Korea - 67,000
# Australia - 64,000
# France - 62,000
# Hong Kong 60,000
Finally, we maintain our sell rating on the Euro as we think Greece will be forced out of the EURO zone or quit on its own. May that be a lesson to all nations that have a laisser-faire attitude when fueling massive deficits and failing to prosecute tax dodgers. You may survive several bad marriages but when credit goes , you better have a new game plan!
Good trading to you!
DCW
Sooner or later, the world will realize uncontrolled used of oil and passing on to taxpayers the real costs of its use must stop once and for all...
Europe understood that by taxing the hell out of it and somehow plowing back 30% into non-social projects. Can the US do the same... If you remember THREE MILE INCIDENT, it killed any nuclear plant construction for THIRTY (30) years. WILL this be the watershed event that will seriously curtail high risk drilling? I wouldn't want to be in the DEEP SEA OIL platform BUILDING business for the next three years... New regulations will take for ever to be finalized and in the meantime, the Shipyards will be vacant...
With a bunch of hillbillies , pick-up trucks and tea drinkers poised to wrap themselves in the American gas guzzler fall election parade, I fear the moment has not yet come to see $6 a gallon gas but it is a comin'.
Have you ever seen a COUNTRY SONG where alternative energy, hybrid cars are used?.. NAH! That would be silly and make you look weak. AMERICA stands for lots of BHP under the hood! the land of NASCAR, DRAG RACING, the 18 WHEELER and the DINER!
I think this disaster is going to make RAIL SERVICE have a bigger share of the transportation market. Too bad it falls in the middle of a depression...
EMIGRATION AND IMMIGRATION
Fighting for FIRST PRIZE in the 2010 WORST POLITICAL TIMING DECISION YEAR TO DATE:
1)PRESIDENT OBAMA EXTENDING OFFSHORE DRILLING RIGHTS
and close behind
2)ARIZONA CODIFYING RACIAL PROFILING INTO LAW
TO start with a cliche , the world's greatest powers were always thriving when immigrants and traders came into to share work and exchange good and services.
THE fall of these mighty empires always can be traced to people not so inclined to come over and just happy to send underlings.
Soon enough this will come back to haunt those short sighted lawmakers as those economies will suffer one of their worst drop in economic activity... Thank god they will be able to blame everything and everybody except themselves... If you think Arizona had cheap real estate, you haven't seen anything yet!
TWO very scary statistics came out this year:
A) 2-3MM "illegal immigrants" aren't coming to work in the USA anymore finding the prospects not worth it. Already many misses in top line revenue by companies who catered to these hard underpaid workers who did the menial jobs any blue blood yank would not dare get his hands dirty doing...
B) A record number of US EMIGRANTS have renounced their citizenship... While a laughable number ( less than 600) it might be a trend as baby boomers realize that the US consumption craze is just not worth it any more especially as their broken Governments at most levels are creeping daily ever more into their affairs neither making them happier, healthier or safer.
Here is a short list of unconfirmed numbers of Ex-Pats who haven't decided to renounce their citizenship just yet but with massive deficits, higher taxes and a socialist agenda, get ready to see those numbers change considerably when 30% of your taxes doesn't have to pay the Pentagon's budget, 40% to Entitlements and most of the rest to debt servicing....
US EXPATRIATES LIVING IN
# Canada - 688,000
# Mexico - 500,000
# Philippines - 250,000
# Israel Israel - 184,195 (admirable precision to collect on Israel bond drives)
# United Kingdom - 150,000
# Germany - 92,000
# Dominican Republic - 80,000
# South Korea - 67,000
# Australia - 64,000
# France - 62,000
# Hong Kong 60,000
Finally, we maintain our sell rating on the Euro as we think Greece will be forced out of the EURO zone or quit on its own. May that be a lesson to all nations that have a laisser-faire attitude when fueling massive deficits and failing to prosecute tax dodgers. You may survive several bad marriages but when credit goes , you better have a new game plan!
Good trading to you!
DCW
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