We can cut our carbon footprint in half and increase our use of liquid
hydrocarbon fuels 50% and maintain our coal production while
establishing a strong basis for a hydrogen economy, paid for by oil
sales. Here's how;
http://www.ohiochamber.com/governmental/pdfs/William%20Mook_021308.pdf
The credit crunch is caused by the Saudi's and other oil rich kingdoms
pulling their investment capital to the sidelines following August
meeting in Jeddah of OPEC ministers. In that meaning OPEC officials
worried openly about a US technological response to high oil prices if
high oil prices became an issue in the US presidential election. In
response OPEC increased oil output to maintain $100 per barrel pricing
and pulled an estimated $18 to $22 trillion out of the US banking
markets, creating the current situation. This on top of earlier
withdrawals from the US market by muslim controlled oil funds
following US invasion of Iraq.
On Sep 19, 12:16 am, Willie.Moo...@gmail.com wrote:
> We can cut our carbon footprint in half and increase our use of liquid
> hydrocarbon fuels 50% and maintain our coal production while
> establishing a strong basis for a hydrogen economy, paid for by oil
> sales. Here's how;
> http://www.ohiochamber.com/governmental/pdfs/William%20Mook_021308.pdf
> The credit crunch is caused by the Saudi's and other oil rich kingdoms
> pulling their investment capital to the sidelines following August
> meeting in Jeddah of OPEC ministers. In that meaning OPEC officials
> worried openly about a US technological response to high oil prices if
> high oil prices became an issue in the US presidential election. In
> response OPEC increased oil output to maintain $100 per barrel pricing
> and pulled an estimated $18 to $22 trillion out of the US banking
> markets, creating the current situation. This on top of earlier
> withdrawals from the US market by muslim controlled oil funds
> following US invasion of Iraq.
Willie, evidently neither the SEC, Federal Reserve, or NYSE agrees
with you. Still, what do they know?
Following the UK's lead on Thursday, today the a temporary prohibition
of 'Selling Short' was put into place here in the US, and the market
rose again sharply today, It seems that even the Wall Streeters have
had their fill of paper speculators without significant assets at risk
play craps at the NYSE. This isn't Las Vegas you know.
I believe that a similar move has been accomplished to halt
speculation on oil by commodity speculators, leading to the observed
price drops since the artificial inflation of oil prices is now being
restrictued to the usuall supply/demand market, and not based on
artificial shortages in supply. Then too, here in the US I tend to
believe that people refused to pay above $4.00/gal for gasoline. (It
turns out that automotive fuels are a far more elastic marketplace
than some assumed.) As the demand dropped, prices fell... and
quickly!
Willie, take a college level course in classical economics! Learn
something. Realize the the current major economic problem here in the
us is a collapse of the home morgage business cause by the earlier
liberal (reads Clinton Administration) pressures that in the end
allowed banks to give mortgages to buyers that were financial
unqualified for even VA or FHA govenment insured mortgages. Give a
$200,000 mortgage to a family earning only $30K/year and the
consequences are fully predictable. That the large economic issue
today in the US, not oil. It's also a problem caused by inadequate
regulation and oversite.
Strange idea, sure, but the minimum requirements that must be met when
I purchase by first home were first, a down payment of 20% or more of
the selling price of the home. Second, a one-earner income, after
taxes, when all normal expenses (food, heating, electricity,
telephone, insurance, car payments, etc.) were deducted, montly
mortage payments (including real estate tax) were less than 33% of the
payment. Some banks required 50%. All banks at that time required you
to have an outstanding credit rating. So, even with two in the family
working, mortgage approval was based solely on the income of the
highest wage earner (for obvious reasons). So, while family income
was over $18,000 a year by two college graduates, the highest mortage
that we qualified for was barely sufficient to purchase a home selling
for $21,500 in a nice community. We negotiated with the seller a bit,
and ended up purchasing it for $19,900. It was a 3-bedroom ranch
home, with only one bathroom, and we had expected to move into a 4
bedroom colonial, with 2-1/2 bathrooms, and a larger and better yard,
but that was not to be, so we made it our home for 6 years, and it was
great for a small family. We installed a small swimming pool in the
backyard, central air conditioning (all do it yourself projects), and
8 years later sold it for $47,000.
Kids today cannot possibly identify with those days (way back around
1960), when most of our friends lived in rental properties (usually
appartements) at least until they could save up the required down-
payment for a home of their own. Two years ago I wondered how a young
couple only a year or two out of college could afford a brand new 2400
square-ft 'McMansion' in our current part of town. A home priced
typically well above $500,000. During the past year, the 'For Sale'
signs have been appearing on most of these properties, only a year or
two after they were constructed. I know realize why, and I believe it
is the current American tragedy, and what a horrible way to begin a
marriage. I blame it on the banks that too freely extended credit, and
on the regulators that sat back and watched this happen. I also blame
the liberal elements of our government who with the best of intentions
passed laws that promoted such catastrophes.
Not the first time I've seen this happen, I remember going to work for
a firm in Rochester, NY circa 1964, and many of the people that I
worked with were from the Sacremento, CA area, who refused to answer
their phones when it rang, fearing it was the bank who held their
California mortgage calling to try and collect on their abandoned
morgage liability. I didn't believe that in my lifetime I would see
this happen again, but it is happening today!
Now for a lighter comment --
Now my wife, women being what they are, has a solution to the
forclosed homes problem. Also, as much as the idea offends me, it made
financial sense to US taxpayers. Have some agency of the US Government
purchase all the forclosed homes at a price of $0.22 on the dollar.
Next, rent them out to illegal immigrants inexpensively, but with rent
based on total number of occupants in the structure. That way, US
taxpayers could actually profit.
Harry C.
You've said a lot of rude things and a lot of wrong things.
The US banking and insurance businesses are suffering from a problem
of LIQUIDITY - not under-regulation. This lack of liquidity is caused
by Chinese, European, Japanese and Muslim investors removing their
money from the US markets and buying other instruments with it.
Over-regulating the market at this time will make it impossible to
attract back this wealth to US markets and exacerbate the liquidity
crunch. No amount of government bailouts will replace the $18
trillion removed from US banking system since the start of the Gulf
war.
US regulations don't impact non-US citizens. They either invest in
our markets, or not. Not investing in US markets is the problem -
regulations make the problem worse.
A little history.
Since the 1970s the US has bought the bulk of its gasoline from Middle
East oil kingdoms and the bulk of its manufactured stuff from China.
As a result huge quantities of cash have been transfered to these two
regions.
These folks have tons and tons of dollars - and nothing Americans make
to buy with them. Except financial instruments. So, the $4 you pay
for a gallon of gas, or the $12 you pay at wally world for a T-shirt,
or the $5 for frozen fish sticks comes back to the US banking system
to help underwrite your mortgage or car purchase or credit card debt.
Now, since the invasion of Iraq, Oil rich nations have withdrawn funds
slowly but steadily from the US market - leading to a reduction in
liquidity. This reduces their return on this money, but they get MORE
money EVERY DAY anyway, as US people drive their SUVs to work and take
the kids to school - as long as the oil is flowing its all good.
So, its not a primary concern. They wanted to put pressure on the US
- without cutting off oil, and this was a way to do it. So that's
what they did.
This money has gone into the sidelines, or made available to build
huge infrastructure projects in UAE like the world islands or the palm
islands or super luxurious hotels - and develop expensive projects
throughout the muslim world.
They have also cautiously tried other investments around the world,
hoping that the US would withdraw from Iraq and Afghanistan in time
and the money would be brought back where they're comfortable before
and got good returns before and say they were responsible with their
money.
But in the interim, some of the foreign investments have done quite
well - leading to an improvement in confidence in non-traditional
exchanges and markets - particularly in China and India.
This led to major investments in China in the Shanghai exchange for
example.
This allowed the Chinese - which are also a major buyer US financial
instruments with the surplus of dollars they get selling stuff they
make to wally world - a place to park their dollars - helping the
Chinese economy - so that's what they did.
They took the money out of US banks and financial institutions - and
parked it in Chinese banks and financial institutions
This caused a buying frenzy in July 2007 - where the amount of stock
traded exceeded NASDAQ the number 2 market in the world! There was a
sell off with major profit taking, following the run up - but despite
the profit taking - dollars have continued to flow there
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath 080919%5cACQRTT200809190653RTTRADERUSEQUITY_0329.htm&&mypage=newsheadlines&title=Asian%20markets%20rally;%20Hang%20Seng,%20Shanghai%20surge%20more%20than%209%25
This withdrawal of liquidity from the USA led to increasing pressure
on the US banking system - and that same summer - when Shanghai was
going nuts! The US subprime market collapsed
http://en.wikipedia.org/wiki/Subprime_mortgage_crisis
and with foreign money continuing to flee the US markets - has gotten
worse.and regulations will institutionalize the problem not fix it.
Look for US currency to drop like a rock in value, as the demand for
US financial instruments declines.
hhc314@yahoo.com wrote:
> On Sep 19, 12:16 am, Willie.Moo...@gmail.com wrote:
>> We can cut our carbon footprint in half and increase our use of liquid
>> hydrocarbon fuels 50% and maintain our coal production while
>> establishing a strong basis for a hydrogen economy, paid for by oil
>> sales. Here's how;
>>
>> http://www.ohiochamber.com/governmental/pdfs/William%20Mook_021308.pdf
>>
>> The credit crunch is caused by the Saudi's and other oil rich kingdoms
>> pulling their investment capital to the sidelines following August
>> meeting in Jeddah of OPEC ministers. In that meaning OPEC officials
>> worried openly about a US technological response to high oil prices if
>> high oil prices became an issue in the US presidential election. In
>> response OPEC increased oil output to maintain $100 per barrel pricing
>> and pulled an estimated $18 to $22 trillion out of the US banking
>> markets, creating the current situation. This on top of earlier
>> withdrawals from the US market by muslim controlled oil funds
>> following US invasion of Iraq.
>
> Willie, evidently neither the SEC, Federal Reserve, or NYSE agrees
> with you. Still, what do they know?
>
> Following the UK's lead on Thursday, today the a temporary prohibition
> of 'Selling Short' was put into place here in the US, and the market
> rose again sharply today, It seems that even the Wall Streeters have
> had their fill of paper speculators without significant assets at risk
> play craps at the NYSE. This isn't Las Vegas you know.
>
> I believe that a similar move has been accomplished to halt
> speculation on oil by commodity speculators, leading to the observed
> price drops since the artificial inflation of oil prices is now being
> restrictued to the usuall supply/demand market, and not based on
> artificial shortages in supply. Then too, here in the US I tend to
> believe that people refused to pay above $4.00/gal for gasoline. (It
> turns out that automotive fuels are a far more elastic marketplace
> than some assumed.) As the demand dropped, prices fell... and
> quickly!
>
> Willie, take a college level course in classical economics! Learn
> something. Realize the the current major economic problem here in the
> us is a collapse of the home morgage business cause by the earlier
> liberal (reads Clinton Administration) pressures that in the end
> allowed banks to give mortgages to buyers that were financial
> unqualified for even VA or FHA govenment insured mortgages. Give a
> $200,000 mortgage to a family earning only $30K/year and the
> consequences are fully predictable. That the large economic issue
> today in the US, not oil. It's also a problem caused by inadequate
> regulation and oversite.
>
> Strange idea, sure, but the minimum requirements that must be met when
> I purchase by first home were first, a down payment of 20% or more of
> the selling price of the home. Second, a one-earner income, after
> taxes, when all normal expenses (food, heating, electricity,
> telephone, insurance, car payments, etc.) were deducted, montly
> mortage payments (including real estate tax) were less than 33% of the
> payment. Some banks required 50%. All banks at that time required you
> to have an outstanding credit rating. So, even with two in the family
> working, mortgage approval was based solely on the income of the
> highest wage earner (for obvious reasons). So, while family income
> was over $18,000 a year by two college graduates, the highest mortage
> that we qualified for was barely sufficient to purchase a home selling
> for $21,500 in a nice community. We negotiated with the seller a bit,
> and ended up purchasing it for $19,900. It was a 3-bedroom ranch
> home, with only one bathroom, and we had expected to move into a 4
> bedroom colonial, with 2-1/2 bathrooms, and a larger and better yard,
> but that was not to be, so we made it our home for 6 years, and it was
> great for a small family. We installed a small swimming pool in the
> backyard, central air conditioning (all do it yourself projects), and
> 8 years later sold it for $47,000.
>
> Kids today cannot possibly identify with those days (way back around
> 1960), when most of our friends lived in rental properties (usually
> appartements) at least until they could save up the required down-
> payment for a home of their own. Two years ago I wondered how a young
> couple only a year or two out of college could afford a brand new 2400
> square-ft 'McMansion' in our current part of town. A home priced
> typically well above $500,000. During the past year, the 'For Sale'
> signs have been appearing on most of these properties, only a year or
> two after they were constructed. I know realize why, and I believe it
> is the current American tragedy, and what a horrible way to begin a
> marriage. I blame it on the banks that too freely extended credit, and
> on the regulators that sat back and watched this happen. I also blame
> the liberal elements of our government who with the best of intentions
> passed laws that promoted such catastrophes.
>
> Not the first time I've seen this happen, I remember going to work for
> a firm in Rochester, NY circa 1964, and many of the people that I
> worked with were from the Sacremento, CA area, who refused to answer
> their phones when it rang, fearing it was the bank who held their
> California mortgage calling to try and collect on their abandoned
> morgage liability. I didn't believe that in my lifetime I would see
> this happen again, but it is happening today!
>
> Now for a lighter comment --
>
> Now my wife, women being what they are, has a solution to the
> forclosed homes problem. Also, as much as the idea offends me, it made
> financial sense to US taxpayers. Have some agency of the US Government
> purchase all the forclosed homes at a price of $0.22 on the dollar.
> Next, rent them out to illegal immigrants inexpensively, but with rent
> based on total number of occupants in the structure. That way, US
> taxpayers could actually profit.
>
> Harry C.
>
>
>
>
>
>
>
Harry,
I'm shocked! Shocked! A Republican complaining about a government
administration that decreased regulation of banks that allowed them to
do what they wanted to do? They wanted to get at more customers for
mortgages and so they did when the Clinton administration permitted them
to do so. Does this make the Clinton administration at blame when the
banks abused the freedom accorded them? Wait, wait! I know? The bankers
are really all secret Democrats. And so it was a cabal between the
Clinton administration and the bankers to to mild the lower middle
class. Of course! How foolish of me to miss this. The one thing you can
say is that the Democrats gave the Republicans what they wanted -
freedom to provide variable mortgages with balloon payments after a few
years. So that means the Democrats are really the whole and only cause
of the greed exhibited by banks and mortgage companies. Come on, Harry!!
FK
XML site map
> hydrocarbon fuels 50% and maintain our coal production while
> establishing a strong basis for a hydrogen economy, paid for by oil
> sales. Here's how;
> http://www.ohiochamber.com/governmental/pdfs/William%20Mook_021308.pdf
> The credit crunch is caused by the Saudi's and other oil rich kingdoms
> pulling their investment capital to the sidelines following August
> meeting in Jeddah of OPEC ministers. In that meaning OPEC officials
> worried openly about a US technological response to high oil prices if
> high oil prices became an issue in the US presidential election. In
> response OPEC increased oil output to maintain $100 per barrel pricing
> and pulled an estimated $18 to $22 trillion out of the US banking
> markets, creating the current situation. This on top of earlier
> withdrawals from the US market by muslim controlled oil funds
> following US invasion of Iraq.