Post New Year's Cartoons!
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Summation of my thoughts regarding the Christie bridge matter:
a) Now that more children are raised in a single parent family and thus, more males are raised by women, women who are stressed by the fact they have no male at home, have to work etc., I believe our image of a male is changing.
Therefore, Christie is deemed a bully because he is a man's man, a block tackle for an NFL Team whereas, Bill Clinton and Obama are seen more as a woman's man because they are portrayed as more sensitive. You decide.
b) Since we are increasingly a nation of dependents, politicians are more likely to be blamed for just about everything. Christie is expected to know everything and who is doing what. Interestingly, however, Obama and Clinton are not held to this same standard. Is it because they are more girly men and Christie has been typed a bully! Is it simply because they are Democrats and the liberal media and press give them passes and Christie is a Republican? You decide.
c) Finally, if Christie lied and did know what was going on he is political toast, as he should be, whereas Obama and Clinton can lie and they are not held accountable. Thus, since Christie is the Liberal and Hillary lovers' greatest 2016 nightmare, I would expect the liberal media, press and their liberal minions will look up Christie's ass to see if his hat is on straight and might even go to extreme lengths even if they manufacture some 'gotcha' scenario in the hope it will stick.
Sen. McCarthy was an expert at perfecting and launching the big lie. Because it was made out of fluff, it stuck. No one could grab hold of the truth because the truth was never there.
d) Christie will now have to live with a bigger sized target on his back but what is fascinating is when he first came on the scene he was loved for being feisty. Now he is reviled for being feisty. Hypocrisy? You decide
e) Since the weather has been freezing the press and media needed to find something hot to report. You decide.
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This Fed president believes it should put more logs on the fire. You decide. (See 1 below.)
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Texas is the place to be. (See 2 below.)
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Dick
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1)Fed's Kocherlakota Calls for More Stimulus to Aid Job Market
Faced with high U.S. unemployment and stubbornly low inflation, the Federal Reserve should be ramping up, not scaling back, its monetary stimulus, a top Fed official said.
The U.S. central bank, charged by Congress to aim for an economy that has enough
Kocherlakota's stridently dovish remarks suggest that when he gets his turn to vote on the Fed's policy-setting panel this month, he may use it to dissent if the Fed continues to dial down stimulus. Eleven of the 12 regional Fed presidents rotate in and out of year-long voting spots on the panel every two or three years; of the regional chiefs, only the New York Fed chief gets a permanent vote.
The Fed last month began what is expected to be a measured wind-down of a massive bond-buying program aimed at pushing down long-term borrowings costs and boosting
With unemployment at 7 percent, down from its recent 10-percent peak, and the labor market outlook improving, most Fed policymakers felt that easing up on the monetary
Not so, Kocherlakota said.
Inflation is running at about half of the Fed's 2 percent goal and unemployment has fallen "disturbingly slowly," he told his audience.
"By easing monetary policy relative to its current stance, the (Fed) could facilitate a more rapid fall in unemployment and more rapid return to 2 percent inflation," he said.
The last time he had a vote on the policy-setting Federal Open Market Committee, Kocherlakota voted with the Fed's hawkish wing in dissenting against what he saw then as overly stimulative Fed policy.
Kocherlakota underwent a conversion of sorts in October 2012, swinging from a position as one of the most hawkishly inclined Fed officials to his current, dovish stance.
It was then that he first proposed the Fed pledge to keep rates low until the unemployment rate falls to at least 5.5 percent. Last month, the Fed said it would likely keep rates low until well past the time the unemployment rate hits 6.5 percent, but stopped short of lowering that threshold to the level that Kocherlakota says would give the economy a bigger boost.
Normally the Fed has 12 voters on monetary policy, but because of recent and expected departures at the Fed Board of Governors, it only has 10 currently.
That number would drop again next month if Bernanke resigns from the board, as expected, when his term as chairman expires.
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2)Oil & Gas Boom 2014: A Great Time To Be A Texan
Thanks to the rapidly increasing production from the Eagle Ford Shale and
the Permian Basin, Texas reached another milestone in September, 2013: As a
separate nation, Texas would now rank as the 9th largest oil producing
country in the world.
the Permian Basin, Texas reached another milestone in September, 2013: As a
separate nation, Texas would now rank as the 9th largest oil producing
country in the world.
As reported here by Dr. Mark Perry
<http://www.aei-ideas.org/
rlds-largest-petroleum-
according to the International <http://www.forbes.com/
Energy <http://www.forbes.com/energy/
last September, Texas oil production surpassed that of oil-producing giants
like Brazil, Venezuela, Nigeria, Mexico and Kuwait to move into the
hypothetical Top Ten oil producing nations on earth. During September,
Texas' oil output was measured by IEA at 2.7 million barrels per day. This
represents a doubling of the state's daily oil output in just 29 months.
Not since the early years of the 20th century has the state seen such a
rapid rise in its oil output, and that steep incline shows no signs of
slowing anytime soon.
rlds-largest-petroleum-
according to the International <http://www.forbes.com/
Energy <http://www.forbes.com/energy/
last September, Texas oil production surpassed that of oil-producing giants
like Brazil, Venezuela, Nigeria, Mexico and Kuwait to move into the
hypothetical Top Ten oil producing nations on earth. During September,
Texas' oil output was measured by IEA at 2.7 million barrels per day. This
represents a doubling of the state's daily oil output in just 29 months.
Not since the early years of the 20th century has the state seen such a
rapid rise in its oil output, and that steep incline shows no signs of
slowing anytime soon.
If anything, the boom in West Texas might even accelerate in the next few
years. The nascent Cline Shale play is beginning to heat up, and results
continue to be very good in the Wolfberry/Sprayberry and other plays in the
Permian. If current trends continue, it is very likely that Texas would
leap past OPEC giants like Iran, Iraq and the United Arab Emirates to become
the equivalent of the 6th largest oil producing nation over the next 12-18
months.
years. The nascent Cline Shale play is beginning to heat up, and results
continue to be very good in the Wolfberry/Sprayberry and other plays in the
Permian. If current trends continue, it is very likely that Texas would
leap past OPEC giants like Iran, Iraq and the United Arab Emirates to become
the equivalent of the 6th largest oil producing nation over the next 12-18
months.
Anyone predicting this sort of meteoric rise in the state's oil producing
fortunes as recently as three years ago would have been labeled a nut case.
And yet, here we are. Let's take a look at some of the outcomes this
ongoing boom in shale oil and natural gas production has produced:
fortunes as recently as three years ago would have been labeled a nut case.
And yet, here we are. Let's take a look at some of the outcomes this
ongoing boom in shale oil and natural gas production has produced:
* The Commerce Department reported recently that the November U.S.
trade deficit was $34.3 billion
<http://www.washingtonpost.
eficit-is-shrinking-thank-
than four years. The single biggest factor? A $2.5 billion drop in the
value of imported oil, made possible by the domestic oil boom. Crude
imports were down by almost $40 billion during the first 11 months of 2013,
a phenomenal decline during a period of economic growth.
trade deficit was $34.3 billion
<http://www.washingtonpost.
eficit-is-shrinking-thank-
than four years. The single biggest factor? A $2.5 billion drop in the
value of imported oil, made possible by the domestic oil boom. Crude
imports were down by almost $40 billion during the first 11 months of 2013,
a phenomenal decline during a period of economic growth.
* This dramatic decline in the trade deficit in turn led leading
forecasters to significantly raise their projections for how rapidly the
economy grew in the 4th quarter. Macroeconomic Advisors increased its
estimate from 2.6% to 3.5%, which, if accurate, would be the single highest
rate of quarterly economic growth since the onset of the Great Recession in
2008.
forecasters to significantly raise their projections for how rapidly the
economy grew in the 4th quarter. Macroeconomic Advisors increased its
estimate from 2.6% to 3.5%, which, if accurate, would be the single highest
rate of quarterly economic growth since the onset of the Great Recession in
2008.
* Inexpensive and abundant natural gas is fueling a manufacturing
renaissance in the U.S., producing tens of billions of dollars in new plant
and equipment investment, and bringing tens of thousands well-paying jobs
back from overseas.
renaissance in the U.S., producing tens of billions of dollars in new plant
and equipment investment, and bringing tens of thousands well-paying jobs
back from overseas.
* The U.S. boom has in turn significantly increased U.S. international
competitiveness vis a vis Europe <http://www.forbes.com/europe-
where industrial leaders are in near panic at the loss of jobs and
investment back across the Atlantic. Germany is in a particularly difficult
fix, as it relies on exports for half of its annual GDP, and its energy
costs remain on an upwards trajectory thanks to its wrong-headed
over-reliance on non-competitive renewable fuel sources like wind and solar.
competitiveness vis a vis Europe <http://www.forbes.com/europe-
where industrial leaders are in near panic at the loss of jobs and
investment back across the Atlantic. Germany is in a particularly difficult
fix, as it relies on exports for half of its annual GDP, and its energy
costs remain on an upwards trajectory thanks to its wrong-headed
over-reliance on non-competitive renewable fuel sources like wind and solar.
* The U.S. oil boom is also having an impact on the geopolitical
balance of power. As Daniel Yergin noted on January 9
<http://www.project-syndicate.
s-of-america-s-shale-energy-
-political-power> , Iran is suddenly taking nuclear negotiations seriously,
and that well might not have happened were it not for the boom in shale oil
production in the United States.
balance of power. As Daniel Yergin noted on January 9
<http://www.project-syndicate.
s-of-america-s-shale-energy-
-political-power> , Iran is suddenly taking nuclear negotiations seriously,
and that well might not have happened were it not for the boom in shale oil
production in the United States.
* The boom in domestic oil production has also created a new national
energy debate over whether it is time to repeal the 1970s-era restrictions
on exporting crude oil. Some U.S. refiners, whose facilities are geared to
refine heavier oils imported from overseas, are finding themselves
overwhelmed by the increase in light, sweet crudes being produced from the
Eagle Ford and other shale formations, and some producers are concerned they
will find getting their product refined at reasonable prices increasingly
difficult unless they are able to export some of it to international
refining facilities. The good news for consumers is that this is the kind
of debate that comes about thanks to abundance, not shortages like we saw in
the 1970s.
energy debate over whether it is time to repeal the 1970s-era restrictions
on exporting crude oil. Some U.S. refiners, whose facilities are geared to
refine heavier oils imported from overseas, are finding themselves
overwhelmed by the increase in light, sweet crudes being produced from the
Eagle Ford and other shale formations, and some producers are concerned they
will find getting their product refined at reasonable prices increasingly
difficult unless they are able to export some of it to international
refining facilities. The good news for consumers is that this is the kind
of debate that comes about thanks to abundance, not shortages like we saw in
the 1970s.
* In Texas, as we've previously noted, the oil and gas boom, along
with prudent fiscal management by leading policymakers, has fundamentally
transformed the state's budget picture from one of lingering annual
shortfalls to one of steadily growing surpluses, along with a Rainy Day Fund
that is consistently filled to the gills.
with prudent fiscal management by leading policymakers, has fundamentally
transformed the state's budget picture from one of lingering annual
shortfalls to one of steadily growing surpluses, along with a Rainy Day Fund
that is consistently filled to the gills.
But abundance and growth bring their own challenges that must be addressed
by communities, policymakers and the industry. The impacts of the
industry's heavy truck traffic remains an issue in South and West Texas, one
that all interested stakeholders are working to address. Likewise, there is
no question that water remains a compelling issue for everyone in these
regions, and the industry must continue to develop ways to conserve water
and to tap into the more abundant brackish water formations that lie beneath
the Texas soil. Some recent studies have also postulated linkage between
improperly sited and managed saltwater disposal wells and minor earthquake
activity, and the Texas Railroad Commission and legislative leaders are
beginning to take concrete steps to address this concern.
by communities, policymakers and the industry. The impacts of the
industry's heavy truck traffic remains an issue in South and West Texas, one
that all interested stakeholders are working to address. Likewise, there is
no question that water remains a compelling issue for everyone in these
regions, and the industry must continue to develop ways to conserve water
and to tap into the more abundant brackish water formations that lie beneath
the Texas soil. Some recent studies have also postulated linkage between
improperly sited and managed saltwater disposal wells and minor earthquake
activity, and the Texas Railroad Commission and legislative leaders are
beginning to take concrete steps to address this concern.
But again, these are all issues that come about thanks to the economic
growth that is produced by resource abundance, and they sure beat the kinds
of challenges Texans and all Americans suffered through during the oil
shocks and resource constraints of the 1970s.
growth that is produced by resource abundance, and they sure beat the kinds
of challenges Texans and all Americans suffered through during the oil
shocks and resource constraints of the 1970s.
This truly is a great time to be a Texan. God Bless Texas.
<http://www.flickr.com/photos/
<http://www.flickr.com/photos/
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