Markets Jolted by Oil Surge and Worries Over Slowdown - New York Times
Oil prices approach $100/barrel on nothing but speculation and fear - prompting overreactions to relatively minor fluctuations in supplies. But what we are really seeing is the convergence of some long-term problems that have been looming over the horizon for years - but largely ignored:
- A weak dollar, which has been embraced to date by the Bush Administration as a way to lower our trade deficit;
- The sub-prime mortgage crisis, the impact of which will be felt it seems for at least another year or two;
- Peak oil and the approaching moment when global demand for oil will surpass supply. The oil market's jitters are, in part, due to the acknowledgement by more and more experts and traders that this moment is just around the corner, if not already here;
- A $9 trillion federal debt that ties the hands of the government when it comes to fixing major problems, responding to economic crises, or investing for the future; and
- The inevitable moment when China's willingness and/or ability to endlessly help finance that debt will end.
So what will it take for us to finally wake up and do something serious about these problems? When will our "leaders" finally start leading?
Is there anyone out there? Hello???
Wednesday, November 07, 2007
House Approves Ban on Anti-Gay Discrimination - New York Times
House Approves Ban on Anti-Gay Discrimination - New York Times
I don't know whether to be happy this bill was passed by the House or saddened that it took so long and still faces a Senate vote and a likely presidential veto to override.
It seems ridiculous that in the 21st Century we have yet to conquer discrimination based on sexual orientation (and, remember, marriage equality is still a dream for most). I hope that in 20 years this will all seem like a distant memory - that sexual orientation, as well as skin color, religion and gender, will have nothing to do with limitations or prejudice in anyone's professional or public life.
I don't know whether to be happy this bill was passed by the House or saddened that it took so long and still faces a Senate vote and a likely presidential veto to override.
It seems ridiculous that in the 21st Century we have yet to conquer discrimination based on sexual orientation (and, remember, marriage equality is still a dream for most). I hope that in 20 years this will all seem like a distant memory - that sexual orientation, as well as skin color, religion and gender, will have nothing to do with limitations or prejudice in anyone's professional or public life.
Monday, November 05, 2007
Oil's Recent Rise Not as Familiar as It Looks - washingtonpost.com
Oil's Recent Rise Not as Familiar as It Looks - washingtonpost.com
Interesting and fairly comprehensive article on the recent rise in oil prices. Unlike many/most news articles on the topic, it brings a variety of questions/concerns/perspectives, including the voices warning that demand could soon outpace supply:
Traders say that they are not buying and selling on whims, however. The unusually thin cushion of excess oil production around the world and the rapid growth in consumption in China and India make this rise in prices different from earlier oil price spikes, they argue. That combination, the traders add, leaves the oil markets one incident away from an even steeper increase.
"There is no current shortage, but no one deals on today's market. They make deals based on tomorrow's market. And that's what they're worried about," said Joseph Stanislaw, an oil consultant and senior adviser to the accounting firm Deloitte & Touche.
Interesting and fairly comprehensive article on the recent rise in oil prices. Unlike many/most news articles on the topic, it brings a variety of questions/concerns/perspectives, including the voices warning that demand could soon outpace supply:
Traders say that they are not buying and selling on whims, however. The unusually thin cushion of excess oil production around the world and the rapid growth in consumption in China and India make this rise in prices different from earlier oil price spikes, they argue. That combination, the traders add, leaves the oil markets one incident away from an even steeper increase.
"There is no current shortage, but no one deals on today's market. They make deals based on tomorrow's market. And that's what they're worried about," said Joseph Stanislaw, an oil consultant and senior adviser to the accounting firm Deloitte & Touche.
Saturday, November 03, 2007
Obama, Civil Rights and South Carolina - The Caucus - Politics - New York Times Blog
Obama, Civil Rights and South Carolina - The Caucus - Politics - New York Times Blog
Interesting speech by Obama yesterday, both for its direct reference to concerns that America may not be ready for an African American president and for his discussion of poverty.
It is incredible to me - though perhaps not really that surprising - that after all the shock and horror after Katrina about poor black people having been forgotten and ignored for so long we have failed to do anything of note to address the problem.
Obama has so much potential, but his campaign has seemed to falter of late. His performance in the latest debate was not terribly impressive and he hs been unable to pierce Clinton's commanding lead in the polls. His numbers have remained static since the summer or even spring in many of the national polls:
http://www.pollingreport.com/wh08dem.htm
He continues to trail Clinton and Edwards in Iowa, as well. Obama needs to make some headway soon. Of course, if Edwards wins in Iowa and Obama can close the gap with Clinton in NH somewhat, he could remain viable and could possibly score victories in Nevada and South Carolina.
Interesting speech by Obama yesterday, both for its direct reference to concerns that America may not be ready for an African American president and for his discussion of poverty.
It is incredible to me - though perhaps not really that surprising - that after all the shock and horror after Katrina about poor black people having been forgotten and ignored for so long we have failed to do anything of note to address the problem.
Obama has so much potential, but his campaign has seemed to falter of late. His performance in the latest debate was not terribly impressive and he hs been unable to pierce Clinton's commanding lead in the polls. His numbers have remained static since the summer or even spring in many of the national polls:
http://www.pollingreport.com/wh08dem.htm
He continues to trail Clinton and Edwards in Iowa, as well. Obama needs to make some headway soon. Of course, if Edwards wins in Iowa and Obama can close the gap with Clinton in NH somewhat, he could remain viable and could possibly score victories in Nevada and South Carolina.
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