Category Archives: Capitalism

Fracking is turning the US into a bigger oil producer than Saudi Arabia – Americas – World – The Independent

So Fracking could turn the tables on the Arabs who hate us… Let’s see if the Obama crew get in the way…

“The United States is now poised to become an energy superpower,” write By Robert D. Blackwill and Meghan O’Sullivan, in the current issue of Foreign Affairs magazine.

via Fracking is turning the US into a bigger oil producer than Saudi Arabia – Americas – World – The Independent.

Iraqi oil: Once seen as U.S. boon, now it’s mostly China’s | McClatchy

This fascinating. The entry of China into Iraq oil is a actually a sign of our strength… and will redound to our benefit when the oil hits the world market… Very interesting…

“The fact that PetroChina is expanding in Iraq is not to me a sign of their strength, it’s a sign of their relative weakness,” Houser said.

Birol, the chief economist at the International Energy Agency, said that nearly a third of the future oil production in Iraq was expected to come from fields that either were directly owned or co-led by Chinese companies.

Oil companies from the U.S. and other Western nations have been more interested in the Kurdistan region of Iraq, a largely autonomous area that doesn’t take orders from Baghdad. Kurdistan offers more stability and better contract terms to the international oil companies, to the fury of the Baghdad government, which is charged with handling international affairs and calls the contracts illegal.

Western oil companies generally have more attractive global investment opportunities than Iraq, said Luft, who’s an adviser to the U.S. Energy Security Council, a nonprofit group that works to lessen dependence on fossil fuels.

They also need to answer to their shareholders, and they see the world differently from the way state-owned Chinese companies do, he said.“The Chinese oil companies are more in tune with the geopolitical agenda of their government and respond less to shareholders,” Luft said. “If Exxon operates somewhere and has to close down operations for a month, that would have an impact on investors. When the Chinese go into one of those places and something bad happens, there is not the consequence in terms of stock.”

Luft said he didn’t see Chinese development of Iraq’s oil as a case of China enjoying the spoils of a war for which the U.S. had paid dearly both in lives and taxpayer dollars.

It’s a myth that U.S. energy security relies on Middle Eastern imports, he said. Oil from the region makes up just a small percentage of what America uses. The U.S. will benefit if China or anyone else can get Iraqi’s huge reserves developed and onto the market, he said. Since oil is a global commodity, he said, more oil on the market brings down prices.

“Energy security is about not only the availability of the resource but also about the cost,” Luft said. “Anything that brings down global oil prices is positive for U.S. energy security.”

via Iraqi oil: Once seen as U.S. boon, now it’s mostly China’s | McClatchy.

Were now one step closer to Americas coming civil war | Fox News

Articles like this show that the premiss of my novel is NOT too far fetched. Scary stuff, indeed. And a thanks to Bill Woosley for this!

Thousands of people in several Argentine cities ransacked supermarkets for a second day in the latest challenge to President Chistina Kirchner, who is struggling to revive a weak economy…  In the central city Rosario, two people were killed during the incidents and 137 people arrested.

Washington’s Republicans and Democrats alike have become the toll collectors on the road to serfdom–

“The violence puts Mrs. Kirchner in a difficult position as the poor are [her] core constituents…  Her government spends billions of dollars a year to help low income families, including free health care…  [Yet] Argentine activists who claim to represent the poor traditionally block access to supermarkets in the month of December to demand free food and other items…  The latest events were some of the worst acts of looting and vandalism in years….  Local media showed dozens of men, women, and children hauling away televisions, refrigerators, and food.”

Some have said my warnings about a coming civil war between makers and takers are exaggerated.  It’s true that Argentina’s politicians have been waging class warfare since Juan and Eva Peron–and they aren’t fazed when it turns bloody. Obama and the Democrats are relative newcomers to the game.  But Argentina reveals who really suffers when those who create a nation’s wealth get mugged by those who spend it–as just happened this week in Washington.

via Were now one step closer to Americas coming civil war | Fox News.

Republicans Control Best-Run States in America, 24/7 Wall St. Survey Shows | TheBlaze.com

Capitalism with fiscal restraint or more socialist ideas with no fiscal restraint… Hmmm…. Let’s see how it works…

The list is based on a review of data for financial health, standard of living and government services. While noting that current situations may stem from decisions made years ago and that external factors like weather can be as much to blame as poor governance, 24/7 Wall St. also points out that all of the high-ranking states have “well-managed budgets” and the worst states have “high debt relative to both income and expenditure.”

via Republicans Control Best-Run States in America, 24/7 Wall St. Survey Shows | TheBlaze.com.

This morning I was on with Steve Davis of Lifestyles Unlimited

This morning I was on the syndicated show, Lifestyles Unlimited, with Steve Davis, talking about how Americans must become business savvy to survive the multifaceted attack on our economy.

In particular, I pointed out how the Left’s wishlist includes:

  • massive increases in taxes ($3,800 per household just in 2013)
  • draconian federal regulations primarily through an EPA that now views its goals as encompassing “social” justice
  • Obamacare that is already causing businesses to fire employees, reduce their hours (so they are not full time) all to lessen the financial burden on the business
  • continued demonization of business and profit
  • continued runaway litigation against businesses for hang nails and spilled coffee in the lap

In this environment, the American economy will necessarily suffer.

The solution, in Steve’s view, is to become an economy of one and develop passive income sufficient to pay your necessary bills. His show leads the way…

Steve Davis – Lifestyles Unlimited.

Two-thirds of jobs go to immigrants during Obama’s four years

The American economy is suffering from the combined effects of an abusive regulatory scheme, unions that use work rules as weapons, a legal system that too easily rewards suits for hangnails, and a Democrat party doing everything it can to demonize capitalism and those who invest and drive the economy.

It should be no surprise, then, that the skilled and technical jobs to be filled by American labor are not materializing, and that the only jobs being created are perfect for the unskilled.

Until these forces working against capitalism are defeated, we can expect little improvement.

Two-thirds of those who have found employment under President Obama are immigrants, both legal and illegal, according to an analysis that suggests immigration has soaked up a large portion of what little job growth there has been over the past three years.

via Two-thirds of jobs go to immigrants during Obama’s four years – Washington Times.

Steven Crowder Tries to ‘Redistribute’ Children’s Candy in Hilarious ‘Obama-Style’ Halloween Prank

This is wonderful. What a great way to demonstrate Socialism…

“Hey, dude that’s not cool,” one kid says. “It’s not fun to take people’s candy…That’s my candy, I worked hard for it.”

“But you had more than him,” Crowder replies.

‘That’s OK.”

via Steven Crowder Tries to ‘Redistribute’ Children’s Candy in Hilarious ‘Obama-Style’ Halloween Prank | Video | TheBlaze.com.

Quarter-billion-dollar stimulus grant creates just 400 jobs – Washington Times

I talked about this company in my article “Talking Bain Capital with a Union Democrat.” So, here are some interesting facts about what happens when a president tries to centrally manage an economy. Obama, the socialist way… here it is:

Battery maker A123 Systems vowed thousands of new jobs when it received a nearly quarter-billion-dollar stimulus grant in late 2009, but federal job-tracking figures show only a few hundred positions were created before the company joined a growing list of federally backed energy businesses that ended in bankruptcy.

The latest quarterly report on file with a federal stimulus tracking database shows just seven positions created through the grant from April to June this year. Previous quarters’ job reports contained anywhere from a handful of positions created to more than 100 new jobs.

But even when the quarterly reports are combined, a total of 408 new positions were reported under the stimulus program since 2009, amounting to more than $300,000 spent for each new job reported.

via Quarter-billion-dollar stimulus grant creates just 400 jobs – Washington Times.

Andy Kessler: The Incredible Bain Jobs Machine – WSJ.com

This is the truth about modern business and jobs.

It’s the same story elsewhere. Apple employs just 47,000 people, and Google under 25,000. Like Staples, they have destroyed many old jobs, like making paper maps and pink “While You Were Out” notepads. But by lowering the cost of doing business they’ve enabled innumerable entrepreneurs to start new businesses and employ hundreds of thousands, even millions, of workers world-wide—all while capital gets redeployed more effectively.

via Andy Kessler: The Incredible Bain Jobs Machine – WSJ.com.

U.S. top earners pay larger share of taxes than any other industrialized nation – Washington Times

This puts the Lie to Obama’s mantra that the rich don’t pay their fair share…

“The United States is actually more dependent on rich people to pay taxes than even many of the more socialized economies of Europe. According to the Tax Foundation, the United States gets 45 percent of its total taxes from the top 10 percent of tax filers, whereas the international average in industrialized nations is 32 percent. America’s rich carry a larger share of the tax burden than do the rich in Belgium (25 percent), Germany (31 percent), France (28 percent), and even Sweden (27 percent).”

via PICKET: New book shows U.S. top earners pay larger share of taxes than any other industrialized nation – Washington Times.