HEADLINES

Tuesday, December 28, 2010

Ex-Shell president sees $5 gas in 2012

from USACTION NEWS


Ex-Shell president sees $5 gas in 2012: "

The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.


CNNMoney.com

EXCERPTS:


“I’m predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices,” he said.


Tom Kloza, chief oil analyst with Oil Price Information Service says Americans will see gasoline prices hit the $5 a gallon mark in the next decade, but not by 2012.


“That wolf is out there and it’s going to be at the door…I agree with him that we’ll see those numbers at some point this decade but not yet.” Kloza said.


FULL ARTICLE

"

The Shattered American Dream: Unemployed Workers Lose Ground, Hope, and Faith in their Futures

from USACTION NEWS


The Shattered American Dream: Unemployed Workers Lose Ground, Hope, and Faith in their Futures: "

A new survey of unemployed American workers documents dramatic erosion in the quality of life for millions of Americans.



John J. Heldrich Center for Workforce Development at Rutgers


“Their financial reserves are exhausted, their job prospects nil, their family relations stressed, and their belief in government’s ability to help them is negligible. They feel hopeless and powerless, unable to see their way out of the Great Recession that has claimed 8.5 million jobs. The survey shows that only one-quarter of those first interviewed in August 2009 have found full-time jobs some 15 months later. And most of those who have become reemployed have taken jobs they did not really want for less pay. Moreover, the recession has wreaked havoc on the retirement plans of older workers.”



RELATED ARTICLES:


111th Congress Added More Debt Than First 100 Congresses Combined: $10,429 Per Person in U.S.


Sen. Tom Coburn ‘We must live within our means’ or face ‘apocalyptic pain’


Cooking the Books: The 2010 Deficit Was $2.1 trillion


Alabama Town’s Failed Pension Is a Warning


Here’s The Triple Threat That Could Spin The Globe Into A Deeper Recession


Government Waste: 20 Of The Craziest Things That The U.S. Government Is Spending Money On


US as Argentina


10 Trends for 2011


The Federal Reserve: Aging Magician of the Welfare State


Say Bye-Bye to Consumer Spending


Financial meltdown in state budgets: Day of Reckoning


Late-Stage Animal Farm


The Market Is Overbought, Overextended And Overvalued


Expose the Public Pension Mess


When the money runs out


John Williams: Hyperinflation Will Start in the Next Couple Months


10 Signs That Confidence In U.S. Treasuries Is Dying And Financial Armageddon Approaches


The Only Thing That Will Save Us Now Is Fear Itself


Outlook for the economy – grim


US may lose Aaa credit rating with flawed tax deal


Is the GOP ignoring anti-spending message?


State and local pension shortfalls over $3.5 TRILLION


Will 2011 Be The Year The Von Mises Prophecy Comes True?


The Lesson of the Tax Deal and the Deficit: Teach Your Kids Chinese


Washington Orders Another Free Lunch


Obama’s Emerging Enabling Act


The Fed creates money out of thin air


Is the Fed losing control?


Persian Gulf Economists Are Giving Up On The Dollar, Encouraging Move To Gold


Fact, Fiction & Finally the Fix


The Dollar Meltdown: Surviving the Impending Currency Crisis with Gold, Oil, and Other Unconventional Investments


OPEC: If America Wants To Devalue The Dollar Then It Better Be Ready For $100+ Oil


Soaring Gold and a Sinking Dollar Signal Trouble Ahead


Gold at $8,250?


Will the dollar’s death surprise you?


Factors that will Determine the Future


Senator Judd Gregg on the inevitable fiscal meltdown


Banking System is Hopelessly Insolvent


Top Republicans caution the Fed on printing money


Has the Fed Been a Failure?


A REAL SIMPLE explanation of how the FED is ruining your economy


Economic Suicide the Keynesian Way


Inflation is a sneaky tax


What’s Next? Buckle Up


Death of the Dollar


The Great Weaponless Conquest of America


Bernanke’s Cowardice Has Sealed Our Fate


Ben Bernanke and QE must be STOPPED


Federal Reserve celebrates 100 years of enslaving America


The Fed is running the country right into the ground as a result of their ignorance


Soros Bets on U.S. Financial Collapse


How Did A Single Unconstitutional Agency Become The Most Powerful Organization In America?


The Fed’s “War on Wealth” and the Risk of Default


This guy is in charge of the economy?


Beck: Devaluing the Dollar


Food, apparel prices rising


Fed to Buy Extra $600 Billion of US I.O.U’s


I have not yet begun to fight!


Fed Easing May Mean 20% Dollar Drop: Bill Gross


Hyperinflation Forecast


The US $200-Trillion Debt Which Cannot Be Named


A Society of Beggars? Obama Battles Reagan


Mad Fed Should Beware Unquantifiable Outcomes


Burning your money?


Global food crisis forecast as prices reach record highs


The Fed is lying about inflation


Dollar fall sparks stability warnings


Fed Wants to Hoodwink Public, Only Fools Itself: Caroline Baum


For Orderly Dissolution Of The Fed, Before It Does Us Even More Harm


Will the Fed Burn More of Your Money?


The Disgraceful State of Our Government


Is Keynesianism a socialist Maneuver?


Economic Forecasts and Why They Should Not be Trusted


Three Horrifying Facts About the US Debt “Situation”


Obama and Ben Bernanke Have Us Facing the Abyss


Bernanke Tells the Truth: The United States is on the Brink of Financial Disaster


Greenspan Says U.S. Creating `Scary’ Deficit as Borrowing Rises


Interview with Garland Tucker on “The High Tide of American Conservatism”


Fed Officials Mull Inflation as a Fix


The Psychopathology of Government and its Agents


A fair warning of where we are headed


The Feds’ Disease: Spending! (Part 1)


IMF Warns Western Economies Mired in ‘Near Depression’


With Obama taxes are about ideology not economics

"

2011 – What’s Coming

from USACTION NEWS


2011 – What’s Coming: "

Social unrest will become visible in America in 2011. There will be demonstrations in many major cities. Some will turn violent. Economics will be at the heart of the anger.


by Bruce Krasting at Zero Hedge


EXCERPTS:


Oh boy is 2011 going to be an exciting year! Some things that I think might happen:


-Volatility is going up across the board. If you have the stomach for the swings that are coming across all markets there is a ton of money to be made; balls and timing are all that are necessary.


-Spain will be the next sovereign debtor that falls prey to the market. This will happen before the end of the 1st Q.


-The US will have a full year deficit of 1.4 trillion dollars. This depressing reality will hang on the US economy/markets. Congress will talk about the problem endlessly, but little will be accomplished.


-Obama’s popularity will continue to fall. The legislative “successes” at the end of 2010 will convert to a series of failures. There will be no new stimulus. Portions of the health care legislation will be dialed back. The mandatory participation feature will be found unconstitutional. Without this feature the legislation makes no economic sense and a great debate will be initiated as to what to do about it. Nothing will be accomplished. Reason? There are no “answers” to this problem.


-The center of attention will move away from California as the most bankrupt state. In his State of the State address in January, New York’s new Governor Andrew Cuomo will fess up to the fact that for the past year of so NY has been burying its problems.


-Unemployment will not go down. The average for the year will be above 10%. The number of workers who leave the system will rise to 20mm. These workers will find part-time jobs that pay cash. The new day-workers will compete will illegals for employment. Social tensions will be the result.


FULL ARTICLE


RELATED ARTICLES:


The Shattered American Dream: Unemployed Workers Lose Ground, Hope, and Faith in their Futures


111th Congress Added More Debt Than First 100 Congresses Combined: $10,429 Per Person in U.S.


Sen. Tom Coburn ‘We must live within our means’ or face ‘apocalyptic pain’


Cooking the Books: The 2010 Deficit Was $2.1 trillion


Alabama Town’s Failed Pension Is a Warning


Here’s The Triple Threat That Could Spin The Globe Into A Deeper Recession


Government Waste: 20 Of The Craziest Things That The U.S. Government Is Spending Money On


US as Argentina


10 Trends for 2011


The Federal Reserve: Aging Magician of the Welfare State


Say Bye-Bye to Consumer Spending


Financial meltdown in state budgets: Day of Reckoning


Late-Stage Animal Farm


The Market Is Overbought, Overextended And Overvalued


Expose the Public Pension Mess


When the money runs out


John Williams: Hyperinflation Will Start in the Next Couple Months


10 Signs That Confidence In U.S. Treasuries Is Dying And Financial Armageddon Approaches


The Only Thing That Will Save Us Now Is Fear Itself


Outlook for the economy – grim


US may lose Aaa credit rating with flawed tax deal


Is the GOP ignoring anti-spending message?


State and local pension shortfalls over $3.5 TRILLION


Will 2011 Be The Year The Von Mises Prophecy Comes True?


The Lesson of the Tax Deal and the Deficit: Teach Your Kids Chinese


Washington Orders Another Free Lunch


Obama’s Emerging Enabling Act


The Fed creates money out of thin air


Is the Fed losing control?


Persian Gulf Economists Are Giving Up On The Dollar, Encouraging Move To Gold


Fact, Fiction & Finally the Fix


The Dollar Meltdown: Surviving the Impending Currency Crisis with Gold, Oil, and Other Unconventional Investments


OPEC: If America Wants To Devalue The Dollar Then It Better Be Ready For $100+ Oil


Soaring Gold and a Sinking Dollar Signal Trouble Ahead


Gold at $8,250?


Will the dollar’s death surprise you?


Factors that will Determine the Future


Senator Judd Gregg on the inevitable fiscal meltdown


Banking System is Hopelessly Insolvent


Top Republicans caution the Fed on printing money


Has the Fed Been a Failure?


A REAL SIMPLE explanation of how the FED is ruining your economy


Economic Suicide the Keynesian Way


Inflation is a sneaky tax


What’s Next? Buckle Up


Death of the Dollar


The Great Weaponless Conquest of America


Bernanke’s Cowardice Has Sealed Our Fate


Ben Bernanke and QE must be STOPPED


Federal Reserve celebrates 100 years of enslaving America


The Fed is running the country right into the ground as a result of their ignorance


Soros Bets on U.S. Financial Collapse


How Did A Single Unconstitutional Agency Become The Most Powerful Organization In America?


The Fed’s “War on Wealth” and the Risk of Default


This guy is in charge of the economy?


Beck: Devaluing the Dollar


Food, apparel prices rising


Fed to Buy Extra $600 Billion of US I.O.U’s


I have not yet begun to fight!


Fed Easing May Mean 20% Dollar Drop: Bill Gross


Hyperinflation Forecast


The US $200-Trillion Debt Which Cannot Be Named


A Society of Beggars? Obama Battles Reagan


Mad Fed Should Beware Unquantifiable Outcomes


Burning your money?


Global food crisis forecast as prices reach record highs


The Fed is lying about inflation


Dollar fall sparks stability warnings


Fed Wants to Hoodwink Public, Only Fools Itself: Caroline Baum


For Orderly Dissolution Of The Fed, Before It Does Us Even More Harm


Will the Fed Burn More of Your Money?


The Disgraceful State of Our Government


Is Keynesianism a socialist Maneuver?


Economic Forecasts and Why They Should Not be Trusted


Three Horrifying Facts About the US Debt “Situation”


Obama and Ben Bernanke Have Us Facing the Abyss


Bernanke Tells the Truth: The United States is on the Brink of Financial Disaster


Greenspan Says U.S. Creating `Scary’ Deficit as Borrowing Rises


Interview with Garland Tucker on “The High Tide of American Conservatism”


Fed Officials Mull Inflation as a Fix


The Psychopathology of Government and its Agents


A fair warning of where we are headed


The Feds’ Disease: Spending! (Part 1)


IMF Warns Western Economies Mired in ‘Near Depression’


With Obama taxes are about ideology not economics

"

Video Report: Couple Arrested By Police, Charged With Theft For Not Tipping Waitress

from theblogprof


Video Report: Couple Arrested By Police, Charged With Theft For Not Tipping Waitress: "Good grief:
The cops can't arrest illegal immigrants but have the time to arrest law abiding citizens for not leaving a tip that is not required by law. Soon they will hand out citations for rescuing dying animals. Oh, wait.
"

Video: Fox News Viewers Are Misinformed Study Was A Liberal Fraud

from theblogprof


Video: Fox News Viewers Are Misinformed Study Was A Liberal Fraud: "As most things liberal, the conclusion of the Fox News viewers - morons was a fraud and teh general public was - once again - lied to. Lee Doran breaks it down for us in his vlog:
"

Actually, Bush VETOED the 2008 bill slipping in the end-of-life provision

from The Greenroom


Actually, Bush VETOED the 2008 bill slipping in the end-of-life provision: "

I’m going to take the death panel end-of-life planning conundrum down one point at a time to make this very clear for Americans to understand what the Pelosi-led Democrats have done to your healthcare and attempt to take cover under a Bush-era law–the Medicare Improvement for Patients and Providers Act of 2008. The Hill reported that the Obama White House attempted to calm Americans’ fears of the dreaded death panels:


The Medicare policy will pay doctors for holding end-of-life-care discussions with patients, according to the Times. A similar provision was dropped from the new healthcare reform law after Republicans accused the administration of withholding care from the sick, elderly and disabled. However, an administration spokesman said the regulation, which is less specific than the reform law’s draft language, is actually a continuation of a policy enacted under former President George W. Bush.


“The only thing new here is a regulation allowing the discussions … to happen in the context of the new annual wellness visit created by [healthcare reform],” Obama spokesman Reid Cherlin told The Wall Street Journal.


In 2003, Medicare added a consultation visit for seniors new to the program, according to the Journal. Another 2008 law, enacted under Bush, said the visit can include “end-of-life” planning discussions.


However, what The Hill’s Jason Millman forgot to mention in his article was that President Bush VETOED the 2008 bill and the Democrats, along with some “good-willed” Republicans OVERRODE Bush’s veto forcing him to sign the legislation into law. The bill dealt with doctors’ reimbursements and more, but the Democrats slipped in the end-of-life planning by opening up the Social Security Act, which I have stated many times is dangerous, because once changed, it is difficult to amend again and allows for tinkering with the Medicare fee schedule and covered services definitions and requirements.


For the record, here is the text that the Democrats changed:


(b) Revisions to Initial Preventive Physical Examination-




(1) IN GENERAL- Section 1861(ww) of the Social Security Act (42 U.S.C. 1395x(ww)) is amended–




(A) in paragraph (1)–




(i) by inserting ‘body mass index,’ after ‘weight’;





(ii) by striking ‘, and an electrocardiogram’; and





(iii) by inserting ‘and end-of-life planning (as defined in paragraph (3)) upon the agreement with the individual’ after ‘paragraph (2)’;






Comedy gold indeed, when Democrats blame Bush for, um, everything wrong in America, and then use him for cover on healthcare.

"

Another Pilot Blasts TSA as Agency Goes After Whistle-blowing Pilot

from The Greenroom


Another Pilot Blasts TSA as Agency Goes After Whistle-blowing Pilot: "

If the Transportation and Security Administration plans on going after every airline pilot who believes the agency is mismanaged, it won’t have time to do its job. Which may just be a good thing.


Another pilot, this one an occasional journalist, has spoken out against the TSA and on behalf of Chris Liu, aka the YouTube pilot. Liu, who outed himself yesterday, was stripped of the federal license allowing him to carry a handgun while aboard an aircraft following his posting of six videos highlighting flaws in the TSA’s methodology.


Patrick Smith, a contributor to Salon.com, has written an article blasting the TSA and defending Liu. Speaking of the irrational TSA mandate that pilots and flight attendants pass through the same checkpoints as passengers while ground workers are exempt from these checks, Smith writes:


This has been TSA policy from the beginning. It is also something I’ve been writing about in my columns, on and off, for the past eight years. Finally the issue is getting some attention….


Noting that Chris Liu’s actions are now “under review” by the TSA who claims the pilot may have released “sensitive security information,” Smith writes:


That’s a head-spinner if you ask me. The screening rules are public knowledge. It’s not the pilot’s fault that the rest of the country has been ignoring them.


Smith goes on the condemn the TSA for choosing “not to review, revise or even acknowledge its foolish rules, but to harass and bully and threaten the person who drew attention to them.”


He warns that “[t]his is what happens when, in the throes of fear, you bestow a bureaucracy with lots of power and little accountability.”


He notes, moreover, that the industry’s largest trade organization, the Air Transport Association, has called for a shift away from the current, one-size-fits-all screening paradigm to a multi-tiered, profiling-based approach. This proposal, if adopted, Smith adds:


would soften or make redundant many of TSA’s protocols. No doubt TSA sees this as a threat, and will fight it tooth and nail.


Which raises a trenchant question: Whose side is the TSA on? Volumes on the inadequacy of the current bureaucracy have been written in this space alone. And yet, despite the criticisms that the full-body scanners are not foolproof or that the TSA is violating the fourth amendment rights of Americans, the agency has dug in of late.


Homeland Security Secretary Janet Napolitano’s most recent advice to Americans has been to love it or leave it. The Advanced Imaging Technology scanners, she insists, “are safe, efficient, and protect passenger privacy,” this despite ample evidence to the contrary. Pat downs, she further claims, are essential to making air travel as secure as possible,” adding that “all passengers have the right to request private screening.” Someone should tell that the rape victim from Austin who was dragged 25 yards across the floor of the terminal for requesting that she be wanded instead of being prodded in places on her body that summoned up personal demons.


As Patrick Smith concludes:


It [the TSA] will not relinquish power until forced to do so by our leaders, under a critical mass of outrage. As a nation we are still a long, long way from that. And the next terrorist attack, or even a close call, is liable to wipe out our resolve and re-set the clock.


Related Articles



Cross-posted at the Examiner. Follow me on Twitter or join me at Facebook. You can reach me at howard.portnoy@gmail.com or by posting a comment below.

"

Whistleblower Pilot Who Angered TSA Goes Public: “They Sent an Anti-Terrorism Task Force to My House” (Video)

from The Gateway Pundit


Whistleblower Pilot Who Angered TSA Goes Public: “They Sent an Anti-Terrorism Task Force to My House” (Video): "

Chris Liu, the pilot who angered Big Sis last week by revealing potential loopholes in airport security, went public on Monday. The 50 year-old pilot told CNN that TSA sent an anti-terrorism task force to his home after he posted his video on YouTube.


McClatchy reported:


The pilot who posted a cell phone video on YouTube revealing potential loopholes in airport security identified himself Monday and said he is “pretty shocked” by the national uproar he has caused.


Chris Liu, a 50-year-old Colfax resident and 27-year veteran pilot, said in an interview with a Sacramento television station that he never imagined his “little video” of what he felt were lax procedures at San Francisco International Airport would get much attention.


The video, posted Nov. 30, has since been pulled from YouTube, and Liu has been stripped of his role in a federal anti-terrorism program that allowed him to carry a handgun while flying. His story has been covered by media across the country – including local outlets, CNN and Fox News.


“I never even thought about being an activist,” Liu told News 10 Monday night, “but it’s kind of turning into that direction.”


A website Liu set up to chronicle his story indicates a man on a mission.


“The Patriot Pilot: An American Hero,” describes what Liu views as a contrast between security measures faced by travelers and airline employees and those faced by ground crews. He also expresses his frustration with the Transportation Security Administration’s response to his security complaint.

"

Wrong Again. Obama Insists Gitmo Is Major Al-Qaeda Recruitment Tool… It Isn’t (Video)

from The Gateway Pundit


Wrong Again. Obama Insists Gitmo Is Major Al-Qaeda Recruitment Tool… It Isn’t (Video): "

Wrong again.

How many times has Obama said Gitmo was a major Al-Qaeda recruitment tool… The “biggest propaganda weapon for many of these extremists”?

It isn’t.



“We can regain the moral high ground in the battle against these terrorist organizations. There is no bigger propaganda weapon for many of these extremists than pointing to Guantanamo and saying that we don’t live up to our own ideals.”


Wrong answer.

The Weekly Standard reported, via Ace:


THE WEEKLY STANDARD has reviewed translations of 34 messages and interviews delivered by top al Qaeda leaders operating in Pakistan and Afghanistan (“Al Qaeda Central”), including Osama bin Laden and Ayman al Zawahiri, since January 2009. The translations were published online by the NEFA Foundation. Guantanamo is mentioned in only 3 of the 34 messages. The other 31 messages contain no reference to Guantanamo. And even in the three messages in which al Qaeda mentions the detention facility it is not a prominent theme.


When was the last time we’ve had a president who was so fundamentally wrong on so many issues?

Unbelievable.

"

Optimists 2, Malthusians 0

In August 2005, The New York Times Magazine published an article titled "The Breaking Point" in which Council on Foreign Relations member Matthew Simmons predicted that oil, then about $65 a barrel, would more than triple in price by 2010. New York Times journalist John Tierney read the article, called Simmons up, and eventually bet Simmons $5,000 that the average price of oil over the course of 2010 would be at least $200 a barrel in 2005 dollars. As of January 1st, Tierney will have won. Yesterday, he explained why he made the bet:

I took him up on it, not because I knew much about Saudi oil production or the other "peak oil" arguments that global production was headed downward. I was just following a rule learned from a mentor and a friend, the economist Julian L. Simon.

As the leader of the Cornucopians, the optimists who believed there would always be abundant supplies of energy and other resources, Julian figured that betting was the best way to make his argument. Optimism, he found, didn't make for cover stories and front-page headlines.

No matter how many cheery long-term statistics he produced, he couldn't get as much attention as the gloomy Malthusians like Paul Ehrlich, the best-selling ecologist. Their forecasts of energy crises and resource shortages seemed not only newsier but also more intuitively correct. In a finite world with a growing population, wasn't it logical to expect resources to become scarcer and more expensive?

As an alternative to arguing, Julian offered to bet that the price of any natural resource chosen by a Malthusian wouldn't rise in the future. Dr. Ehrlich accepted and formed a consortium with two colleagues at Berkeley, John P. Holdren and John Harte, who were supposed to be experts in natural resources. In 1980, they picked five metals and bet that the prices would rise during the next 10 years.

By 1990, the prices were lower, and the Malthusians paid up, although they didn't seem to suffer any professional consequences. Dr. Ehrlich and Dr. Holdren both won MacArthur "genius awards" (Julian never did). Dr. Holdren went on to lead the American Association for the Advancement of Science, and today he serves as President Obama's science adviser.

Julian, who died in 1998, never managed to persuade Dr. Ehrlich or Dr. Holdren or other prominent doomsayers to take his bets again.

Holdren's position as President Obama's top science adviser is completely consistent with this administration's energy policies. Cap and Trade, Renewable Electricity Standards, and EPA global warming regulations all are founded on Malthusian beliefs that government must raise energy prices in order to stop global warming, which Holdren believes will kill 1 billion people by 2020. This came after Holdren wrote a book in 1977, Ecoscience: Population, Resources, and Environment, predicting a global cooling.

Cooling, warming, whatever; for Malthusians the policy answers are all the same: more government control.








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