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June 2010



Unemployment benefits are drying up.

June 23, 2010 – Comments (7)

Currently, 900,000 unemployed people are receiving no benefits because the Senate has yet to pass a bill that would extend unemployment benefits.  This list is likely to breach 1.5 million people if the Senate fails to pass a bill in the next few weeks.  It will be interesting to see if a) they pass a bill at all, and b) to see how much smaller the unemployment extension benefits will be if they do pass a bill.  [more]



Paul Krugman just blew me away - with mind bullets.

June 22, 2010 – Comments (9) | RELATED TICKERS: ME.DL2 , N , KG.DL2

This is it.  Krugman is finally admitting that the level of government debt is going to get too high for us to repay it.  He's finally admitting that the interest from the projected $20 trillion level that we'll hit over the next several years will far exceed our tax revenues:   [more]



Rolling Stone gives us another good one.

June 16, 2010 – Comments (0)

"The Spill, The Scandal, and The President"  [more]



Escrow, Takover, or Bankruptcy?

June 15, 2010 – Comments (3)

The NYT Deal Professor takes us through each of the possible financial fallout scenarios that have been proposed regarding the BP spill.  While he views both Obama's escrow plan and an Exxon or Shell takeover to be unlikely, he views a bankruptcy of BP Holdings North America Inc. to potentially be BP's best bet - especially if BP can contain its liabilities to this particular BP subsidiary.  [more]



"Just How British is BP?"

June 14, 2010 – Comments (2)

"So, who exactly are BP’s American owners? Here’s a partial list.  [more]



"It’s my fault. I’m the one to blame and I’m sorry."

June 13, 2010 – Comments (4)

“I’d like to join in on the blame game that has come to define our national approach to the ongoing environmental disaster in the Gulf of Mexico. This isn’t BP’s or Transocean’s fault. It’s not the government’s fault. It’s my fault. I’m the one to blame and I’m sorry. It’s my fault because I haven’t digested the world’s in-your-face hints that maybe I ought to think about the future and change the unsustainable way I live my life. If the geopolitical, economic, and technological shifts of the 1990s didn’t do it; if the terrorist attacks of Sept. 11 didn’t do it; if the current economic crisis didn’t do it; perhaps this oil spill will be the catalyst for me, as a citizen, to wean myself off of my petroleum-based lifestyle. ‘Citizen’ is the key word. It’s what we do as individuals that count. For those on the left, government regulation will not solve this problem. Government’s role should be to create an environment of opportunity that taps into the innovation and entrepreneurialism that define us as Americans. For those on the right, if you want less government and taxes, then decide what you’ll give up and what you’ll contribute. Here’s the bottom line: If we want to end our oil addiction, we, as citizens, need to pony up: bike to work, plant a garden, do something. So again, the oil spill is my fault. I’m sorry. I haven’t done my part. Now I have to convince my wife to give up her S.U.V."  [more]


8 just got political.

June 10, 2010 – Comments (5)

In an attempt to protect himself from coming off as a president that remained on the sidelines during an epic US disaster (like many still portray Bush during hurricane Katrina), Obama may have said some things that he would like to take back.    [more]



Wake up and smell the budget deficit.

June 09, 2010 – Comments (1)

Probably feeling some indirect pressure from recent comments made by British and German officials, Bernanke finally decides its time to talk about reigning in government spending in the US.  However, his means of doing this are simply stating some of the most obvious realities - realities that many concerned Americans have been discussing for years.  [more]



Don't miss your chance to close your PALG Red Thumb!

June 08, 2010 – Comments (3) | RELATED TICKERS: PALG.OB.DL

My lower limit order picked it up for me, but if you didn't have one set this is just a friendly reminer.



Your Quote for the Day

June 07, 2010 – Comments (7) | RELATED TICKERS: CAM.DL , ERO , N

“Nothing illustrates better the total irresponsibility of the last government’s approach than the fact that they kept ratcheting up unaffordable government spending even when the economy was shrinking."  [more]



BP gives the middle finger right back to Russia. (A BP blog not about the Gulf)

June 04, 2010 – Comments (0) | RELATED TICKERS: B , IR , D

Frustrated by Russia's unwillingness to allow private exportation of natural gas to China, TNK-BP pulled the plug Thursday on the Kovykta gas field operations in Siberia by calling in the loans it made to its subsidiary - essentially initiating bankruptcy of RUSIA Petroleum.  After years of patience and hundreds of millions of dollars invested, only 47 million of the 2 trillion cubic meters of natural gas in the field is being produced today.  The reason for this is because Russian regulators have all but haulted the shipment of gas into China, and instead are requiring the gas to be piped to smaller areas in Russia.  [more]



BP is no different from the rest. The people of Nigeria know this all too well.

June 01, 2010 – Comments (2) | RELATED TICKERS: XOM , RDS-A , BP

I've read several comments, blogs, and articles that criticize BP as being excessively negligent in regards to safety procedures to prevent accidents from happening.  It could seem to some that BP has been far and above the “worst of the worst” in regards to the large oil companies.  I would simply like to assist in the process of correcting this misconception.  [more]

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