Nice to see someone following-up on that IEA whistleblower’s warning about a looming crude oil shortage.
From Terry Macalister of The Guardian (UK) yesterday:
Sir Richard Branson and fellow leading businessmen will warn ministers this week that the world is running out of oil and faces an oil crunch...
Posted to
Economics
on 02-08-2010
Filed under: Financial markets, Recession, Economy, Energy, Commodities, crude oil, Oil, crude oil crunch, International Energy Agency, oil crunch, peak oil, IEA, Richard Branson, crude oil price spike, Virgin Group, IEA whistleblower, Saudi Arabia, oil price spike, crude oil price, Virgin, oil price
Speaking about things turning out worse than originally expected…
From USA Today’s Richard Wolf last night:
Social Security’s annual surplus nearly evaporated in 2009 for the first time in 25 years as the recession led hundreds of thousands of workers to retire or claim disability.
The impact of...
Posted to
Economics
on 02-08-2010
Filed under: Recession, U.S. Government, Economy, Retirement, Taxes, Entitlements, Social Security, Social Security surplus, Congressional Budget Office, CBO, Government Borrowing, tax increases, Baby Boomers, Government spending, spending cuts, disabililty, trust fund, Social Security Administration, disability claims, retirement system
This doesn’t sound good.
From Reuters’ John Parry on Wedensday:
If the U.S. economy grows anemically, already stretched government finances will be crimped, potentially putting downward pressure on the top Aaa U.S. rating, said Moody’s Investors Service on Wednesday.
“Economic growth is very...
Posted to
Economics
on 02-05-2010
Filed under: Obama Administration, U.S. Government, Economy, gross domestic product, GDP, Credit, Budget Deficit, Productivity, Moody's, sovereign rating, US Aaa rating, us credit rating, credit rating agency, sovereign credit rating
Well, now that the pesky Bernanke confirmation business is out of the way, the Federal Reserve can go about their business, blowing another asset bubble. Whatcha talkin’ about?
So says Jeremy Grantham, chief investment analyst for the global investment firm he founded, Grantham, Mayo, Van Otterloo...
Posted to
Economics
on 01-29-2010
Filed under: Housing, Federal Reserve, Obama Administration, U.S. Government, Central Banks, U.S. Treasury Dept., Economy, stimulus, housing bubble, Home Prices, Congress, Stocks, Consumers, Stimulus Package, Debt, Interest Rates, Crash Prophets, investors, Bubbles, Fed, financial system, Alan Greenspan, Jeremy Grantham, Technology, national debt, federal debt, government stimulus, asset prices, government debt, tech bubble, asset bubble, third bubble