Well, just sitting here waiting, as per usual. I read the corporate news this morning and didn't learn a damn thing. Got a few clues to life from the blogs and alternate news sources but nothing from the boys in New York City. New York City must be a filthy place. I haven't been there since the 60's but it sure does have a lot of criminals running around the streets. Especially where you find bankers and stock brokers and lawyers. The mainstream media lives in New York City. They ought to spread out a little bit or one or two nukes could get them all! Can't say that I would miss them. Gerald Celente says that New York City will become like Mumbai, India. Horrible place to live unless you have billions of dollars and lots of hired goons to protect you.
The Handmaiden is drying potatoes and rutabagas this morning. She likes potatoes and I like rutabagas. She is another off-the-all Irish person and I am a refined German English person. Nutritionally I win on this one. There is no nutrition in a potato except for the skin. It is total carbohydrates and I cannot use the damn things. Carbs make fat and I am on a diet. I reckon I have lost 50 pounds just sitting here the last 3 months and I am starting to fell a lot better. Another 100 to 150 pounds to go and I will be back to my needed weight.
Here is some bullshit off of Yahoo Finance. Anyone who reads this blog knows this is horseshit. G.C. up in the U.P. gave us a clue a couple weeks ago. Others have chimed in with more info. Getting ready to sock it to us again! http://finance.yahoo.com/news/Oil-prices-jump-on-surprise-apf-1896134727.html?x=0&sec=topStories&pos=5&asset=&ccode=
NEW YORK (AP) -- Oil prices spiked Wednesday after the government reported a huge draw of crude oil from U.S. stockpiles.
The report was surprising because the demand for energy has been knocked down so badly by the recession. Crude withdrawn from storage facilities last week wiped out a buildup in supplies over the past two weeks.
Benchmark crude for September delivery jumped $3.23 to settle at $72.42 a barrel on the New York Mercantile Exchange. That contract expires Thursday, and most of the trading has already shifted to the October contract, which climbed $2.74 to settle at $73.83.
If the October contract ends the week at that price, it would set a new high for 2009.
The Energy Information Administration said crude in storage fell by 8.4 million barrels last week. Gasoline held in storage fell as well.
Investors have been looking for signs that the country would recover its energy appetite as the economy healed. The EIA report, on the surface, would suggest that may have begun. Last week's drop in crude supplies was the most since Aug. 15, 2008, a month after crude prices peaked above $147 a barrel.
Yet it may be too soon to say that consumers and businesses are using more energy. For one, crude imports over the past four weeks are down 9.5 percent compared with the same period last year.
"They didn't import more because, at the end of the day, we just don't need it," analyst Stephen Schork said.
Many analysts say there is no evidence that consumers are driving and flying more, or that big industrial power users are ramping up operations.
The amount of jet fuel, gasoline, diesel and crude in storage is still huge, said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service.
"It would take several reports like this to convince me" that demand has returned, Kloza said.Meanwhile, Hurricane Bill grew to a Category 4 storm, but forecasters said it would steer clear of petroleum refiners in the Gulf Coast. Bill is sweeping up the Atlantic, about 460 miles east of the Leeward Islands, and could effect travel in the U.S.
At the pump, retail gas prices fell less than a penny overnight to a new national average of $2.628 a gallon, according to auto club AAA, Wright Express and Oil Price Information Service. A gallon of regular unleaded is 16.3 cents more expensive than last month, but it's $1.102 cheaper than the same time last year.
In other Nymex trading, gasoline for September delivery climbed 3.44 cents to settle at $2.0346 a gallon and heating oil added 5.37 cents to settle at $1.9187. Natural gas for September delivery increased 2.3 cents to settle at $3.119 per 1,000 cubic feet.
In London, Brent prices increased $2.22 to settle at $74.59 a barrel on the ICE Futures exchange.
Associated Press writers George Jahn in Vienna and Alex Kennedy in Singapore contributed to this report.
What if you had a big pocket of cash that was going to be worthless, what would you do? I know what I would do. I would buy as much neat stuff as I could before the money got to be worthless. I would buy lots of TANGIBLES. And this is what I see China doing at the moment. China is buying gas fields, oil fields and coal fields. The have mountains of Copper and Iron and rare earth minerals and now they are buying energy supplies. And they ere buying all of this stuff with American dollars, or Treasury Bonds. They are using what is primarily worthless to buy what seems to be priceless. Neat trick.
And now a post from Jim Haddix
It is the month of June, a resort town sits next to the shores of a lake.
It is raining, and the little town looks totally deserted.
It is tough times, everybody is in debt, and everybody lives on credit.Suddenly, a rich tourist comes to town.
He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one.
The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher.
The Butcher takes the 100 dollar bill, and runs to pay his debt to the pig raiser.
The pig raiser takes the 100 dollar bill, and runs to pay his debt to the supplier of his feed and fuel.
The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town�s prostitute that in these hard times, gave her �services� on credit.
The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.
The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything.
At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying that he did not like any of the rooms, and leaves town.
No one earned anything.However, the whole town is now without debt, and looks to the future with a lot of optimism .
And that, ladies and gentlemen, is how the United States Government is doing business today.