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Simmons refutes even the latest oil spill estimate of 45,000-60,000 barrels per day, and in quoting research by the Thomas Jefferson research vessel which was compiled late on Sunday, quantifies the leak at 120,000 bpd. What is scarier is that...
If this is indeed the case, it means that the amount of oil already having leaked could be as high a 3 million barrels, or 12 times the amount spilled in the Exxon Valdez.
He confidently predicts that the relief well will fail (due to structural problems with the pipe) and that unless we're content with having 100K+ barrels spill each day, then we have no choice to nuke the well.
Emergency planning sources in Florida have informed WMR that the state faces severe fresh water shortages and power blackouts if the thick crude oil from the Deepwater Horizon disaster clogs sea water intakes at the largest desalinisation...
This makes Katrina look like a grade school fire drill. Well I wonder how well they will do this time as they prepare to evacuate entire cities and states. Once the evacuations begin the markets will tank. Once people are forced to grasp what is...
These are all money printing means that will ultimately lead to inflation. It is, ultimately, the only tool the Fed has at its disposal and is a very good reason to own gold...
BP is also fitting out ships to serve as floating hotels that can be moored by imperiled marshes, saving time and sparing workers watery commutes of up to two hours from land. The "flotels" will cost about $200,000 a day to operate...
In his morning note, Gluskin-Sheff's David Rosenberg provides (without too much comment), these two economic growth charts. Note that both are year-over-year charts, so the latest results show growth flagging...
Default, Civil Unrest, WWIII? - Gerald Celente on what he sees ahead. A podcast with Lew Rockwell / The Criminal Legacy of Alan Greenspan - Ryan McMaken on the career of a panderer to power.
Washington, D.C. - House Conference Committee members, which will reconcile the House and Senate versions of the financial reform bill, have been announced. Congressman Paul is pleased to note that 15 out of 31 total conferees are cosponsors of HR 1
Your Money and the Greater Depression - An interview with Doug Casey / Is a College Degree Still Worth It? - It’s no longer a guarantor of a better job or higher pay. Article by Don Lee / Guess Where the Millionaires Are
They've accomplished nothing with their lives, except for politicking. I mean I don't believe in conspiracy theories, but these people are characters at once so trivial and misdirected it makes you want to believe it's a cosmic joke of some kind.
Last week, Lew Rockwell posted my essay "In the Summer of 2009" with the title: Smart, Rich People Are Leaving the US. As usual, I received a number of responses both positive and negative.
Across the gulf, residents already shell-shocked by the tar balls, oil soup and dead sea life washing up on their beaches are getting hit with a second wave: the sudden collapse of their livelihoods, and the equally intimidating challenge of...
Why is Dollar-Cost Averaging a losing proposition? Rob Bennet knows: convoluted strategies will not turn a bad value proposition good. Dollar-Cost Averaging is a trick. Today, he explains why.
It's almost like a Joe Kennedy environment. He made all of his money during the Great Depression. If you have money, you can make a lot of money. And if you don't, it's going to be so much more expensive to be poor in this country.
So we have record foreclosures and bankruptcies while banks keep making billion dollar profits. The raid on the middle class is like pirates taking the loot in broad daylight.
Video by Wall Street Journal. Even Mitt Romney’s childhood home, where his parents lived from 1941 to 1953 is a blight on the community and being torn down. And his father was both chairman of AMC and Governor of the state at one time.
Let me understand better what you’re saying. If that is true that it is coming up form that seabed, even the relief well won’t be the final solution to cap this thing. That means that we’ve got oil gushing up at disparate places along the ocean floor
It is threatening to kill cities and towns who live in harmony with the Gulf — fishing towns, tourist towns, all kinds of towns. And the oil still flows. 4% . . . 6.5% . . . 20% . . . 25% . . . 32% of the US waters in the Gulf, now closed to fishing.
In Texas, 14 months into an alleged recovery (with 14 straight months of declining tax collections along the way), Texas is just now "break even" on tax collections in aggregate, with its largest cities still sporting huge declines...
Prevailing attitudes are the logical and inevitable result of financial firms, taking an increasingly predatory posture toward their customers. Borrowers are responding in kind, by taking a cold-blooded and legalistic look at their agreements with...
Cash-poor New York state might have to pay its bills with IOUs next week to avoid the "anarchy in the streets" that could result from a government shutdown, Governor David Paterson said.
Although concrete figures are not available, anecdotal evidence suggests Hispanics, both legal residents and illegal immigrants, are starting to flee.
If history is any predictor, does the ECRI Leading Indicator index anticipate a comparable collapse in the economy to what was seen in late 2008?
Appearing on the Alex Jones Show on June 10, 2010, paster Lindsey Williams reveals the real threat posed by the leak. The Obama administration and BP are doing everything they can to hide the ominous truth. You must share this video...
It now appears the inventory adjustment is over. Further growth in inventories will depend on increases in underlying demand. This is part of the 2nd half slowdown forecast.
These states look forward to a diminished workforce. What jobs there are may involve taking care of the elderly. Needless to say, state GDP will suffer.
Are you ready for interesting times and an exodus from the United States? A possibly apocryphal ancient Chinese curse goes "May you live in interesting times."
He’s concerned about the prospect of inflation, of FHA repeating the mistakes of Fannie and Freddie, and the cost to business from the new healthcare law. “We’re on our way to Greece, in the hands of a confused, foolish government,” Wynn says. “It’s
