Needs are always number one...but it takes smarts to keep the things you need most...those who jumped out of buildings in the 30's....lost those things they needed! Today if and when it happens ...are we Americans equiped and able to survive as our Parents and Gradnparents did! I can say that we are not...when was the last time most people had a garden large enough to supply them with food for a whole year! How many Americans today could even farm a piece of land...even if they had a piece of land to farm...this will not be a nice place in which to live if there is a depression ...people say it can't happen to America...I say BULL!
I live in Illinois...My parents are from the South...Alabama...My fathers family has had a farm since the early 1800's...this farm has now become mine...Last couple of years in the area of my farm, propety had doubled and trippled in price...There has been 3 automobile manufaturers built in the surrounding area each one buying up around 2000 acres...One Hyundi, one Honda and one Mercedes...now these are all within one hour or less of my farm....This use to be a poverished area, it is now growing, I am saddened that my father could not have seen this...now I have a delima...do I sell it for what I can get for it now or hold on to it for the future, like my father...I know If I sell it and hard times come what good is money to me when I can not eat...at least with land I can grow what I need to survive...money can always be taken away or considered worthless...so survival means more to me than money...so I choose like my father did to hold onto the land.
Here's a quip from an article on T Rowe Price's website:
Proposed federal pension legislation may be increasing demand for and lowering yields on long-term bonds. The new law would tighten current rules that have allowed many corporations to underestimate the size of their pension liabilities. If Congress passes these reforms, corporations would have to do a better job of matching their assets and their longer-dated liabilities in order to reduce pension fund valuation volatility. To do so, pension fund managers may have to significantly increase their bond holdings. It is possible that anticipation of a change in pension plan asset composition has already fueled demand for long-term bonds and helped to hold down long-term rates in recent months.
Maybe in recent months, but the long bond has been far too high for over a year now. I think it's a combination of poor investment choices due to a slowing economy, and foreign demand. Besides, the trend in American business is towards eliminating pensions all together and new legislation will simply encourage that. More money for the aristocracy and less for the workers.
But that's just a guess. Greenspan is confused and doesn't have any answers for the low interest rates that don't include "we're stupid and destroying our own economy". I think he's destined to go down in history as the most over-estimated figure in economic history. Bush doesn't care and will simply lower taxes again by the end of the year.
Welcome to the twilight zone.
"...reality has a well-known liberal bias." -- Stephen Colbert
Ford CEO William Clay Ford Jr. makes $53 million during last 3 years. GM CEO Richard Wagoner gets $40.7 million during same perod.
Both Ford and GM are now in big financial trouble. You're not going to hear about top executives stealing corporate assets in the "LIBERAL" press however. It will be blamed on high pension costs and health care benefits.
Oh yeah......the money consisted mostly of options so they will only be paying 15% on their millions. Enjoy your 25% - 28% tax brackets.......after all, Ford and Wagoner need the money more than you do........
"...reality has a well-known liberal bias." -- Stephen Colbert
Iwog, the best things are like you say...prepare yourself...That I will agree upon...I also agree things are going to get far worse before they get better...Those deep in debt...I feel sorry for.
Cancel the cell phone and digital satellite TV. Cancel the cruise to Cozumel. Sell the new Surburban. Stop buying Nike shoes. Fire the lawn service and mow the grass (egads, what will the kids think)
And speaking of kids, anyone over 15 can seek employment to help with the bills....
You can't compare a professional athelete with a corporate rapist.
Tiger Woods makes $40 million a year because he's worth MORE than that to those who pay him. (corporate sponsers, PGA, etc.) In addition, his value was entirely created by his own efforts instead of the efforts of 100,000 working class subordinates. You can argue that many corporate CEOs aren't worth a dime because they have lost money or bankrupted their businesses. GM and Ford certainly fit into that catagory.
Remember that when Lee Iacocca took over Chrysler he did it for $1 a year and saved the company. Warren Buffett pays himself an annual salary of $100,000 a year and he's the genius who took Berkshire-Hathaway from $20 to $90,000 a share.
Besides, I thought the consevative excuse for giving the aristocracy all the money was that they worked hard and earned it?? Is it POSSIBLE that this is yet another lie from the Reagan era?
"...reality has a well-known liberal bias." -- Stephen Colbert
<< <i>You can't compare a professional athelete with a corporate rapist.
Tiger Woods makes $40 million a year because he's worth MORE than that to those who pay him. (corporate sponsers, PGA, etc.) In addition, his value was entirely created by his own efforts instead of the efforts of 100,000 working class subordinates. You can argue that many corporate CEOs aren't worth a dime because they have lost money or bankrupted their businesses. GM and Ford certainly fit into that catagory.
Remember that when Lee Iacocca took over Chrysler he did it for $1 a year and saved the company. Warren Buffett pays himself an annual salary of $100,000 a year and he's the genius who took Berkshire-Hathaway from $20 to $90,000 a share.
Besides, I thought the consevative excuse for giving the aristocracy all the money was that they worked hard and earned it?? Is it POSSIBLE that this is yet another lie from the Reagan era? >>
The thing that bothers me the most about the high salaries in business is that most of these people don't know much of anything. They mostly just have connections and know what palms to grease and what parties to attend. Even if they did know some- thing about the company or the best direction to take it, there are others far more knowledgeable down the corporate ladder. There are more capable people who'd hap- pily work for much less in many cases. Even among the VP's and department heads where knowledge is critical it's difficult to believe many are worth as much to the com- pany as 80 or 90 workers which is what they're often being paid. When pressed the CEO's will make statements like their high pay is justified because they are the only ones in the company taking a risk but in reality their golden parachutes, pension raiding, and severance packages assures they are the only ones in the company who are not taking a risk. They grow wealthy if the company thrives or falls by the wayside while the workers have to wonder if they'll even get a pension. The suppliers wonder if they'll ever get paid and the customers worry about how difficult it will be to find a new supplier.
I agree that many CEO's are not worth the shoes they fill.
Tiger Woods is worth alot to NIKE because he puts lots of children to work in Indonesia. One could argue that he is just as much a rapist. For without him NIKE would not sell as many shoes.
Perhaps no companies should make any profit. They should operate at break even. Any profit should be distributed to the workers.
I could tell you all stories about China but, that's another day. Care to start a thread in open forum?
Shirley you can't be serious. Don't call me Shirley. >>
Shirley, oops, sorry you told me not to call you that
One of these days maybe but to be honest with you , most of the responses and opinions would be rendered by people who have never been there for so much as a visit, much less lived there, done business there and what would make it a total waste of time would be how way off base those opinons would be.
So generally I try to stay away from that. Sort of what's happening here as well on a different issue.
Interesting....You have already decided what our opinions would be and that they are wrong so there's no sense in hearing them.
These forums are always full of the "I'M RIGHT , YOUR WRONG" discussions but this is the first one that didn't wait for the "wrongs" to post before declaring such.
I feel sorry in that they will be like the guys back in the 30's jumping out of window's...they never prepared themselves for what could be....they live like kings but in reality have nothing...and like humpty dumpty could never be put back together again.
The reasons are the CEO's...true they dont know anything...this country would not be in the shape it is today...Remember back in 2000 before the election and JR, was spouting off about all the fuzzy math....well where do you think he got that from...and does it continue today...YOU BET IT DOES!
Tiger Woods is worth alot to NIKE because he puts lots of children to work in Indonesia. One could argue that he is just as much a rapist. For without him NIKE would not sell as many shoes.
Perhaps no companies should make any profit. They should operate at break even. Any profit should be distributed to the workers.
If Tiger Woods wanted to make a stand against labor abuses in foreign countries, then he should do so. That's outside the realm of this discussion however. Tiger Woods has a product (himself) that he can legitimately sell to the highest bidder. In corporate management however a CEO is always choosen via the "it's my turn" policy, (usually from an exclusive list of golfing buddies) as a political favor, or because a family member high in the aristocracy decides to place him there. Because of the corrupt proxy system, shareholders are often forced to watch their investment decline while these corporate rapists feather their own nests in velvet.
All companies should make a profit, all responsible investors should make money. All workers should be paid a living wage and CEO salary should be based on performance and taxed at a higher rate when deemed excessive. For some reason I think your last sentence was trying to imply that anyone who complains about a CEO stealing money from a corporation is somehow a socialist. Am I right?
"...reality has a well-known liberal bias." -- Stephen Colbert
Well the oil problem is solved were sueing! And some wonder if were in trouble and are going to have wars and ecomonic issues. Sounds like were making some new friends to stand by us.....
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Senate allows U.S. to sue OPEC for oil price-fixing By Chris Baltimore Tue Jun 21, 7:23 PM ET
WASHINGTON (Reuters) - The U.S. Senate voted on Tuesday to allow the U.S. government to sue the OPEC oil cartel on antitrust grounds in an outcry against crude oil prices that are fast approaching the $60 a barrel mark.
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The measure, added to wide-sweeping energy legislation by a voice vote, would give authority to the Department of Justice or Federal Trade Commission to sue the Organization of Petroleum Exporting Countries.
U.S. crude oil futures hit a record $59.70 per barrel on Tuesday, even after OPEC boosted its production to nearly 25-year highs and U.S. crude inventories swelled to their highest level since July 1999.
OPEC's 11 members account for almost 40 percent of global crude oil production and two-thirds of proven reserves.
"Gas and oil prices are too high and it's time that we do something about it," said Republican Sen. Mike DeWine (news, bio, voting record) of Ohio, who sponsored the amendment along with Democrat Herb Kohl of Wisconsin.
"If OPEC were a group of international private companies rather than foreign governments, their action would be nothing more than an illegal price-fixing scheme," Kohl said.
Republican Sen. Pete Domenici (news, bio, voting record), the Senate's top energy bill negotiator, called the measure "nothing short of incredible," but did not act to block it.
"These are sovereign nations," Domenici said. "For us to decide here on the Senate floor that we're going to establish some new forum and litigation against the OPEC cartel is nothing short of incredible."
The measure is unlikely to survive a negotiating session when the Senate's energy legislation is reconciled with a version passed by the U.S. House of Representatives in April, Domenici said. The House energy bill contains no similar provision.
WASHINGTON (Reuters) - The U.S. Senate voted on Tuesday to allow the U.S. government to sue the OPEC oil cartel on antitrust grounds in an outcry against crude oil prices that are fast approaching the $60 a barrel mark.
Bahahahahahahahahahahahaa!!!! The free market Republicans STRIKE again!!!
A monopoly is just fine if you're fleecing the American people........but make the current administration look bad because of high oil prices? HELL no.............
"...reality has a well-known liberal bias." -- Stephen Colbert
The best solution to all of this madness...is to shut the whole world off...nothing comes into our ports and nothing leaves our ports...except foreigners going home...then lets just see how long oil will stay high! Lets make the world beg for mercy!!!
For some reason I think your last sentence was trying to imply that anyone who complains about a CEO stealing money from a corporation is somehow a socialist. Am I right?
Well partially yes. If companies did not make a profit then then would be no incentive for advancement. No money spent on research and development. We would all live the lives our grandfathers did 50 years ago. Now you could argue whether the standard of living is better now than 50 years ago but that really is not the point here.
It is easy to throw around big numbers like $50 million for executive compensation and everyone is shocked. Not all make that kind of money and not all are bad and not all bankrupt their companies. I agree that $50 million is grossly excessive and no one is worth that. That goes for anyone making that kind of $$$, even athletes, even Tiger Woods.
Now lets say the CEO of General Motors makes $50 million--he doesnt actually as most is in the form of stock options--but that translates into $153 for every GM employee. I hardly think he is stealing it from his workers. Now if you look at the union dues that these employees pay- much more than $153--you would realize that the unions are really the cause of most of GM's problems. Yes, the CEO is not worth $50 million....but the general assembly line guy is not worth 70k per year. A friends' son works in grocery store chain distribution center. He makes $17 per hour. You add in medical and retirement benefits and his job costs $25 per hour. And all he does is stack and move boxes. Is that worth $50,000 per year? I will contend that unions actually cost companies and the economy more money than do CEO's. I will also say that unions are the reason for so many uneducated people. They see daddy make 70k per year, have 2 weeks vacation, get home by 5pm. What is their incentive to further their education, start their own business and make more money? None. So they follow in daddy's footsteps and the cycle repeats.
If you were part of the "aristocracy" and were a CEO, would you be complaining about your compensation? Would you say it is unfair? Would you say you pay too much in taxes?
Let those tankers sit in International waters for a few days...and turn a few of them around and send them home...bring the oil cartel to their Knees and show them who really has control.
Lets set the world on its ear...Saudi Araba should have been taken care of and is and has been evil all along...it will come to war with them but first we have to supply ourselves...the cartel wants to bring us down to our knees....with us in high debt lets make it worse on those Americans...lets drive them to the point of desperation....I have never figured why our government and the Mexican government have never opened the Largest oil field in the world , lies in Mexico...If they could get rid of that drug cartel and the corrupt government and police...they could have it made...
WE are the problem! We don't have the capacity to handle any more oil than they are sending us. Our refineries are running at full capacity night and day to try and meet demand. Every country in OPEC other than Saudi Arabia is at MAXIMUM production. Saudi can't pump more oil because there's nowhere to send it. Can you understand now why the current congress is the laughing stock of the world?????? They want to sue???? FOR WHAT!!! The futures market is sending oil to $60, NOT SUPPLY. People hold contracts for millions of barrels of oil, and they don't even own a tank or a refinery. This is insanity.
There have been no new oil refineries built in this country for DECADES. The ones that are left are held in a few select hands and they all play golf together.
It's about to get MUCH worse. Refinery Expansion May Cut Costs "Almost 25 percent of the increase in world oil demand between 2004 and 2030 will come from China, the International Monetary Fund said on April 7. Saudi Arabia is raising production capacity by 14 percent by 2009. "
"...reality has a well-known liberal bias." -- Stephen Colbert
I just had a revelation. I'm sitting here typing about oil and listening to CNBC in the background and they start talking about Warren Buffett purchasing PacifiCorp from Scottish Power. (He's spending 5.1 billion and says he's just getting started) On my browser is several articles on oil consumption, the two I posted links to and several on OPEC.
So my mind is clicking......oil set a new high......Buffett is buying a power company. What gives??? I knew Buffett was abandoning ship because of his silver holdings and recent HUGE foreign currency play so why is he buying an American power company?
It's over folks......we're out of oil. Because of its location in the northwest, (Pacificorp's statment on non-fossil fuels) it has a large number of hydro-electric power plants. It also has a large investment in nuclear energy, and because of its association with Scottish power it has expertise in NEW nuclear technology while most utility companies are using technology developed in the 1950s. Scottish power went into debt 4.3 billion dollars since 2003, what do you want to bet that a lot of that was spent on nuclear? Buffett always invests for the long term and intends to keep his investments forever, so he doesn't care about fluctuations in the oil market. He's betting on the world RUNNING OUT!!!
What else could it be? What if Saudi Arabia scientists have determined that the reserves wern't nearly as vast as they predicted, and we're being told everything is fine so people wont freak out? Why is Bush talking about alternative energy all of a sudden? Why is oil price going crazy? Chevron output decline rates at 4 percent How about this? Russian economy loses steam amid falling oil output Both are today's news.
"...reality has a well-known liberal bias." -- Stephen Colbert
There's been no question for a long time that the world would run out of oil, it's merely been a question of when. This is coming into focus now. A lot of oil goes into consumer products and plastics and these can not be abandoned. Oil for fuel will drop sharply when the peak is reached.
These could be far more boring times than is apparent since we went through this once before when US production peaked. The next time though there will be no oil cushion to absorb the shock. As prices rise other means will have to be implemented to provide power. This should have been started years ago and the prices should have been allowed to rise years ago.
Running out of oil is bull....there are fields already discovered....Mexico being way larger than Saudi Arabia ever had time to be...it has been a known fact for years....why has it not been developed is beyond me...why is Mexico poverished...I guess because it wants to be! Big money could stop the drug cartel in Mexico and also clean up the government...they have a president who is capiable of doing so if Bush would push the issue!!! But I hope he never opens the boarder!!!! With oil the Mexicans would not ever have to cross the boarder they could have jobs in their own RICH country!
I had posted on this topic earlier in this thread (much earlier). Saudi is not trying to bury us...hello, we are one of their biggest clients. Don't forget, it's all about the money. There are vast areas of Saudi that have not even been explored yet that have huge reserves of oil, the same for northern Russia. There are American companies making a very good living exploring for oil reserves over there. Just for information, the Saudi Princes have told us over and over..."We could bury you in oil" No body is going to run out of oil any time in the near future. It is going to get more expensive (remember that supply and demand discussion) and you are going to be paying more than $2 a gallon forever, can you say $3.00?. We can't refine any more oil into gasoline and plastics, we just don't have the plant capacity and it costs wayyyyy too much to ship refined gasoline to the States from the other side of the world. There are so many federal regulations and restrictions that we may not have any more refineries ever. They are horribly expensive to maintain and the pollute the bejezus out of the environment. Besides, we have huge reserves of oil in the Alaskan reserve and of the west coast and we are moving to develop these reserves now. There is no international plot to to bring the US to it's knees by restricting oil availability...might sell more tabloid mags though.
There are more as well. Mexico lied about its oil reserves to try and attract investment dollars in 1991, many think it's playing the same game now. EVERY oil producing country, with the exception of Saudi Arabia, is at FULL capacity and we only have the word of the Saudi royal family that they can increase production.
"...reality has a well-known liberal bias." -- Stephen Colbert
Oil is not only found in the Gulf....oil is also found on dry land....and the find goes back to the 50's....it is true they are rich in oil just waiting to blow the earths crusts!!!! Believe it or not!
My father worked for Halliburton for 25 years as a Petroleum Engineer...Halliburton knows where all the oil is!!! Trust me...Halliburton was in Politics long before Mr. Dick came around.
According to Halliburton, Mexico has total reserves of about 40 billion barrels. (of which Halliburton controls about 12 billion) Saudi Arabia has proven reserves of about 260 billion barrels. Your statment that Mexico is going to replace Saudi Arabia as the world's oil producer is fundamentally insane. DON'T STICK TO PRECONCEIVED THEORIES WHEN THEY ARE DESTROYED BY THE FACTS!!!! Both the right and the left have this damned idiotic disease where they think politics is a football game, and they MUST support their side no matter what the cost. KNOCK IT OFF.
"...reality has a well-known liberal bias." -- Stephen Colbert
They do not count known fields that are not in production...they count only fields that are producing...so you go figure...I state what I know, no politics involved! Seems as though you like propaganda and that is what News papers and the internet provide along with Television!
They do not count known fields that are not in production...
Prove it. I defy you to give us a single link that shows Mexico has a drop more than 40 billion barrels. I keep providing information, you keep providing blind assertions.
Comments
<< <i>
<< <i>Mandarin would be a much smarter move. >>
BZZZZZZZZZZZZZZTTTTT............... W R O N G !!!!!
If that turns out to be true (and it probably will) I will need the Spanish to bid "Adios."
Why ? What would you say adios to?
TP
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Proposed federal pension legislation may be increasing demand for and lowering yields on long-term bonds. The new law would tighten current rules that have allowed many corporations to underestimate the size of their pension liabilities. If Congress passes these reforms, corporations would have to do a better job of matching their assets and their longer-dated liabilities in order to reduce pension fund valuation volatility. To do so, pension fund managers may have to significantly increase their bond holdings. It is possible that anticipation of a change in pension plan asset composition has already fueled demand for long-term bonds and helped to hold down long-term rates in recent months.
But that's just a guess. Greenspan is confused and doesn't have any answers for the low interest rates that don't include "we're stupid and destroying our own economy". I think he's destined to go down in history as the most over-estimated figure in economic history. Bush doesn't care and will simply lower taxes again by the end of the year.
Welcome to the twilight zone.
Ford CEO William Clay Ford Jr. makes $53 million during last 3 years.
GM CEO Richard Wagoner gets $40.7 million during same perod.
Both Ford and GM are now in big financial trouble. You're not going to hear about top executives stealing corporate assets in the "LIBERAL" press however. It will be blamed on high pension costs and health care benefits.
Oh yeah......the money consisted mostly of options so they will only be paying 15% on their millions. Enjoy your 25% - 28% tax brackets.......after all, Ford and Wagoner need the money more than you do........
ARod over $25mil+
The list goes on with overpayed athletes. If I was CEO of a major company then I had better get paid more than basketball player.
Knowledge is the enemy of fear
<< <i>Tiger Woods makes $40mil+ year >>
<< <i>If I was CEO of a major company then I had better get paid more than basketball player. >>
Winners are supposed to make more than losers.
I don't feel sorry for those deep in debt...
Cancel the cell phone and digital satellite TV.
Cancel the cruise to Cozumel.
Sell the new Surburban.
Stop buying Nike shoes.
Fire the lawn service and mow the grass (egads, what will the kids think)
And speaking of kids, anyone over 15 can seek employment to help with the bills....
<< <i>
<< <i>Tiger Woods makes $40mil+ year >>
<< <i>If I was CEO of a major company then I had better get paid more than basketball player. >>
Winners are supposed to make more than losers. >>
There are 500 loser basketball players making $1 mil/yr.
Knowledge is the enemy of fear
Tiger Woods makes $40 million a year because he's worth MORE than that to those who pay him. (corporate sponsers, PGA, etc.) In addition, his value was entirely created by his own efforts instead of the efforts of 100,000 working class subordinates. You can argue that many corporate CEOs aren't worth a dime because they have lost money or bankrupted their businesses. GM and Ford certainly fit into that catagory.
Remember that when Lee Iacocca took over Chrysler he did it for $1 a year and saved the company. Warren Buffett pays himself an annual salary of $100,000 a year and he's the genius who took Berkshire-Hathaway from $20 to $90,000 a share.
Besides, I thought the consevative excuse for giving the aristocracy all the money was that they worked hard and earned it?? Is it POSSIBLE that this is yet another lie from the Reagan era?
<< <i>You can't compare a professional athelete with a corporate rapist.
Tiger Woods makes $40 million a year because he's worth MORE than that to those who pay him. (corporate sponsers, PGA, etc.) In addition, his value was entirely created by his own efforts instead of the efforts of 100,000 working class subordinates. You can argue that many corporate CEOs aren't worth a dime because they have lost money or bankrupted their businesses. GM and Ford certainly fit into that catagory.
Remember that when Lee Iacocca took over Chrysler he did it for $1 a year and saved the company. Warren Buffett pays himself an annual salary of $100,000 a year and he's the genius who took Berkshire-Hathaway from $20 to $90,000 a share.
Besides, I thought the consevative excuse for giving the aristocracy all the money was that they worked hard and earned it?? Is it POSSIBLE that this is yet another lie from the Reagan era? >>
The thing that bothers me the most about the high salaries in business is that most
of these people don't know much of anything. They mostly just have connections and
know what palms to grease and what parties to attend. Even if they did know some-
thing about the company or the best direction to take it, there are others far more
knowledgeable down the corporate ladder. There are more capable people who'd hap-
pily work for much less in many cases. Even among the VP's and department heads
where knowledge is critical it's difficult to believe many are worth as much to the com-
pany as 80 or 90 workers which is what they're often being paid. When pressed the
CEO's will make statements like their high pay is justified because they are the only ones
in the company taking a risk but in reality their golden parachutes, pension raiding, and
severance packages assures they are the only ones in the company who are not taking a
risk. They grow wealthy if the company thrives or falls by the wayside while the workers
have to wonder if they'll even get a pension. The suppliers wonder if they'll ever get paid
and the customers worry about how difficult it will be to find a new supplier.
<< <i>
<< <i>Why ? What would you say adios to? >>
The fella in the quilted jacket with the Moisin-Nagant tyin my hands behind my back with my shoelaces.
m a y b e....
At least that's what I....really.....think China's ....ULTIMATE....aim is. >>
More likely in an Armani suit with a 1,500 pair of Testoni's sportin a platinum rolex.
It's a shame the level of world knowledge is what it is in this country. Not to mention the lack of historical knowledge even about this place.
I could tell you all stories about China but, that's another day.
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I could tell you all stories about China but, that's another day.
Care to start a thread in open forum?
Shirley you can't be serious.
Don't call me Shirley.
Tiger Woods is worth alot to NIKE because he puts lots of children to work in Indonesia. One could argue that he is just as much a rapist. For without him NIKE would not sell as many shoes.
Perhaps no companies should make any profit. They should operate at break even. Any profit should be distributed to the workers.
Knowledge is the enemy of fear
<< <i>Tom
I could tell you all stories about China but, that's another day.
Care to start a thread in open forum?
Shirley you can't be serious.
Don't call me Shirley. >>
Shirley, oops, sorry you told me not to call you that
One of these days maybe but to be honest with you , most of the responses and opinions would be rendered by people who have never been there for so much as a visit, much less lived there, done business there and what would make it a total waste of time would be how way off base those opinons would be.
So generally I try to stay away from that. Sort of what's happening here as well on a different issue.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
These forums are always full of the "I'M RIGHT , YOUR WRONG" discussions but this is the first one that didn't wait for the "wrongs" to post before declaring such.
Interesting article on the manipulation of the base metals market by "funds"
commentary
and a claim that there may be some things in Asia that are not as they appear.
The reasons are the CEO's...true they dont know anything...this country would not be in the shape it is today...Remember back in 2000 before the election and JR, was spouting off about all the fuzzy math....well where do you think he got that from...and does it continue today...YOU BET IT DOES!
Perhaps no companies should make any profit. They should operate at break even. Any profit should be distributed to the workers.
If Tiger Woods wanted to make a stand against labor abuses in foreign countries, then he should do so. That's outside the realm of this discussion however. Tiger Woods has a product (himself) that he can legitimately sell to the highest bidder. In corporate management however a CEO is always choosen via the "it's my turn" policy, (usually from an exclusive list of golfing buddies) as a political favor, or because a family member high in the aristocracy decides to place him there. Because of the corrupt proxy system, shareholders are often forced to watch their investment decline while these corporate rapists feather their own nests in velvet.
All companies should make a profit, all responsible investors should make money. All workers should be paid a living wage and CEO salary should be based on performance and taxed at a higher rate when deemed excessive. For some reason I think your last sentence was trying to imply that anyone who complains about a CEO stealing money from a corporation is somehow a socialist. Am I right?
http://news.yahoo.com/news?tmpl=story&u=/nm/20050621/pl_nm/energy_congress_opec_dc_1
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Senate allows U.S. to sue OPEC for oil price-fixing By Chris Baltimore
Tue Jun 21, 7:23 PM ET
WASHINGTON (Reuters) - The U.S. Senate voted on Tuesday to allow the U.S. government to sue the OPEC oil cartel on antitrust grounds in an outcry against crude oil prices that are fast approaching the $60 a barrel mark.
ADVERTISEMENT
The measure, added to wide-sweeping energy legislation by a voice vote, would give authority to the Department of Justice or Federal Trade Commission to sue the Organization of Petroleum Exporting Countries.
U.S. crude oil futures hit a record $59.70 per barrel on Tuesday, even after OPEC boosted its production to nearly 25-year highs and U.S. crude inventories swelled to their highest level since July 1999.
OPEC's 11 members account for almost 40 percent of global crude oil production and two-thirds of proven reserves.
"Gas and oil prices are too high and it's time that we do something about it," said Republican Sen. Mike DeWine (news, bio, voting record) of Ohio, who sponsored the amendment along with Democrat Herb Kohl of Wisconsin.
"If OPEC were a group of international private companies rather than foreign governments, their action would be nothing more than an illegal price-fixing scheme," Kohl said.
Republican Sen. Pete Domenici (news, bio, voting record), the Senate's top energy bill negotiator, called the measure "nothing short of incredible," but did not act to block it.
"These are sovereign nations," Domenici said. "For us to decide here on the Senate floor that we're going to establish some new forum and litigation against the OPEC cartel is nothing short of incredible."
The measure is unlikely to survive a negotiating session when the Senate's energy legislation is reconciled with a version passed by the U.S. House of Representatives in April, Domenici said. The House energy bill contains no similar provision.
Bahahahahahahahahahahahaa!!!! The free market Republicans STRIKE again!!!
A monopoly is just fine if you're fleecing the American people........but make the current administration look bad because of high oil prices? HELL no.............
Well partially yes. If companies did not make a profit then then would be no incentive for advancement. No money spent on research and development. We would all live the lives our grandfathers did 50 years ago. Now you could argue whether the standard of living is better now than 50 years ago but that really is not the point here.
It is easy to throw around big numbers like $50 million for executive compensation and everyone is shocked. Not all make that kind of money and not all are bad and not all bankrupt their companies. I agree that $50 million is grossly excessive and no one is worth that. That goes for anyone making that kind of $$$, even athletes, even Tiger Woods.
Now lets say the CEO of General Motors makes $50 million--he doesnt actually as most is in the form of stock options--but that translates into $153 for every GM employee. I hardly think he is stealing it from his workers. Now if you look at the union dues that these employees pay- much more than $153--you would realize that the unions are really the cause of most of GM's problems. Yes, the CEO is not worth $50 million....but the general assembly line guy is not worth 70k per year. A friends' son works in grocery store chain distribution center. He makes $17 per hour. You add in medical and retirement benefits and his job costs $25 per hour. And all he does is stack and move boxes. Is that worth $50,000 per year? I will contend that unions actually cost companies and the economy more money than do CEO's. I will also say that unions are the reason for so many uneducated people. They see daddy make 70k per year, have 2 weeks vacation, get home by 5pm. What is their incentive to further their education, start their own business and make more money? None. So they follow in daddy's footsteps and the cycle repeats.
If you were part of the "aristocracy" and were a CEO, would you be complaining about your compensation? Would you say it is unfair? Would you say you pay too much in taxes?
Knowledge is the enemy of fear
I was wondering why my oil-related drilling investment bounced straight up this afternoon!
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A monopoly is just fine if you're fleecing the American people........
For less than $20k you can drill a well in your own backyard and beat them at their own game!
Yeah Baby!
I would even drill more wells, just to sho them bastiges American baddazzness!
WE are the problem! We don't have the capacity to handle any more oil than they are sending us. Our refineries are running at full capacity night and day to try and meet demand. Every country in OPEC other than Saudi Arabia is at MAXIMUM production. Saudi can't pump more oil because there's nowhere to send it. Can you understand now why the current congress is the laughing stock of the world?????? They want to sue???? FOR WHAT!!! The futures market is sending oil to $60, NOT SUPPLY. People hold contracts for millions of barrels of oil, and they don't even own a tank or a refinery. This is insanity.
Saudi Arabia tells US it can pump more oil
There have been no new oil refineries built in this country for DECADES. The ones that are left are held in a few select hands and they all play golf together.
It's about to get MUCH worse. Refinery Expansion May Cut Costs "Almost 25 percent of the increase in world oil demand between 2004 and 2030 will come from China, the International Monetary Fund said on April 7. Saudi Arabia is raising production capacity by 14 percent by 2009. "
So my mind is clicking......oil set a new high......Buffett is buying a power company. What gives??? I knew Buffett was abandoning ship because of his silver holdings and recent HUGE foreign currency play so why is he buying an American power company?
It's over folks......we're out of oil. Because of its location in the northwest, (Pacificorp's statment on non-fossil fuels) it has a large number of hydro-electric power plants. It also has a large investment in nuclear energy, and because of its association with Scottish power it has expertise in NEW nuclear technology while most utility companies are using technology developed in the 1950s. Scottish power went into debt 4.3 billion dollars since 2003, what do you want to bet that a lot of that was spent on nuclear? Buffett always invests for the long term and intends to keep his investments forever, so he doesn't care about fluctuations in the oil market. He's betting on the world RUNNING OUT!!!
What else could it be? What if Saudi Arabia scientists have determined that the reserves wern't nearly as vast as they predicted, and we're being told everything is fine so people wont freak out? Why is Bush talking about alternative energy all of a sudden? Why is oil price going crazy? Chevron output decline rates at 4 percent How about this? Russian economy loses steam amid falling oil output Both are today's news.
merely been a question of when. This is coming into focus now. A lot of oil goes
into consumer products and plastics and these can not be abandoned. Oil for
fuel will drop sharply when the peak is reached.
These could be far more boring times than is apparent since we went through this
once before when US production peaked. The next time though there will be no
oil cushion to absorb the shock. As prices rise other means will have to be implemented
to provide power. This should have been started years ago and the prices should
have been allowed to rise years ago.
oil sands
The total reserves for Alberta, including oil not recoverable using current technology, are estimated at 1,700- 2,500Gb
Just find the technology and you will find the oil.
Knowledge is the enemy of fear
Alleged Mexico oil find unsubstantiated
Mexico and Norway can't help on oil prices
deposits in the Gulf of Mexico may be half of what was initially predicted.
There are more as well. Mexico lied about its oil reserves to try and attract investment dollars in 1991, many think it's playing the same game now. EVERY oil producing country, with the exception of Saudi Arabia, is at FULL capacity and we only have the word of the Saudi royal family that they can increase production.
I don't suppose anyone on the planet agrees with your dad? A news source perhaps? University?
Oh never mind, I'll do it myself........
Halliburton corporate profile
According to Halliburton, Mexico has total reserves of about 40 billion barrels. (of which Halliburton controls about 12 billion) Saudi Arabia has proven reserves of about 260 billion barrels. Your statment that Mexico is going to replace Saudi Arabia as the world's oil producer is fundamentally insane. DON'T STICK TO PRECONCEIVED THEORIES WHEN THEY ARE DESTROYED BY THE FACTS!!!! Both the right and the left have this damned idiotic disease where they think politics is a football game, and they MUST support their side no matter what the cost. KNOCK IT OFF.
Prove it. I defy you to give us a single link that shows Mexico has a drop more than 40 billion barrels. I keep providing information, you keep providing blind assertions.
Mexico's oil reserves could begin to run out before 2010 This is from the Mexican Economic Research Institute.
Just saw on CNNMoney that the Chinese bid $18.5 billion for Unocal!! Verrrrrrry interesting!!