December 30, 2014

Crashing Oil Prices Will Be Terrible ONLY For A Tiny Part Of The US Economy

The media propaganda campaign to get folks to feel sorry for the taxpayer subsidized, near tax-free profit gravy train than is oil and gas production in America is yet another lie on the loose that folks need to get their pants on over and chase before they ask for more subsidies.

Please, Mr. Oil Baron, stop pissing on folks and telling them it is raining.

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"The US Economy And Stock Market As A Whole Won't Even Notice. While oil and gas capex represents an increasing share of overall capex, it represents less than 1% of GDP (see yellow line in chart above). For the stock market, the 11.9% drop in expected energy sector profits will be more than offset by gains elsewhere. According to FactSet, analysts expect S&P 500 earnings to rise 8.6% in 2015.

There's no getting around the fact that lower oil prices are bad news for the oil sector. But what's bad for the oil sector is more than good for the rest of the economy and the markets.

"Consumer spending represents 68% of the US economy," Charles Schwab's Liz Ann Sonders noted. "Oil and gas capex represents about 1% of US GDP and less than 9% of US total capex (which in turn represents about 12% of US GDP). Therefore, the benefit of lower energy prices to the consumer and many businesses greatly outweighs the significant hit to energy companies and/or energy-oriented capex, especially in energy-oriented states.""


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(Blue line is annual national industrial Capex, Yellow line is energy sector % of national GDP)



http://www.businessinsider.com/energy-investment-a-small-share-of-gdp-2014-12

December 18, 2014

Pope Leads Global Praise for US-Cuba Rapprochement

Source: Yahoo News (AFP) (4 hours ago)

Paris (AFP) - Pope Francis led a chorus of global plaudits for Wednesday's breakthrough in US-Cuban relations which was hailed from Berlin to Bogota as "courageous" and "historic."

In a personal coup for the pope, it emerged that the Vatican had played a central role in bringing together the global capitalist superpower and the tiny communist island.

The Argentinian pontiff sent "warm congratulations" to the former arch-foes for their "historic decision... to establish diplomatic relations, with the aim of overcoming, in the interest of the citizens of both countries, the difficulties which have marked their recent history".

The Vatican said in its statement that the pontiff had sent letters to US President Barack Obama and his Cuban counterpart Raul Castro, offering their delegations his offices in October to "facilitate a constructive dialogue on delicate matters, resulting in solutions acceptable to both parties."

Canadian Prime Minister Stephen Harper noted his country -- which never broke off ties with Cuba -- had also played a part in ending the standoff.

"Canada supports a future for Cuba that fully embraces the fundamental values of freedom, democracy, human rights and the rule of law," Harper said.

Read more: http://news.yahoo.com/pope-leads-global-praise-historic-us-cuba-rapprochement-220851078.html

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So Canada also had a role to play in the rapprochement.

Gotta love Canada and rapprochement.

December 17, 2014

Man Convicted in German Exchange Student's Killing

Source: AP

MISSOULA, Mont. (AP) — A Montana man who shot and killed a German exchange student caught trespassing in his garage was convicted of deliberate homicide Wednesday despite arguing that a state "castle doctrine" law allowed him to use deadly force to protect his home and family.

Cheers erupted in the packed courtroom when the verdict in the case of Markus Kaarma, 30, was read. The parents of the victim, 17-year-old Diren Dede, hugged and cried.
"It is very good," Dede's father, Celal Dede, said with tears in his eyes. "Long live justice".

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At a hearing Thursday, Diren Dede's parents will give statements to the judge to consider at sentencing. Prosecutors asked for the hearing so Celal and Gulcin Dede won't have to return to Missoula in February.
Kaarma shot Dede in the early hours of April 27 after being alerted to an intruder by motion sensors. Witnesses testified Kaarma fired four shotgun blasts at Dede, who was unarmed.

Kaarma's attorneys argued at trial that he feared for his life, didn't know if the intruder was armed, and was on edge because his garage was burglarized at least once in the weeks before the shooting. They said Kaarma's actions were justifiable because he feared for his family's safety.


Read more: http://www.sfgate.com/news/crime/article/Deliberations-resume-in-exchange-student-killing-5962189.php

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The "Castle doctrine" was actually applied, the absolute defence of justification was rejected, the part about the defense of your "castle" has to be reasonable, using deadly force has to be justified.

Four shot gun blasts at the unarmed "intruder". Not reasonable.

Good to know there is still Justice in the world.