Will Hunting Got It, Why Don't Most Americans

I was watching the movie Good Will Hunting this evening and having not seen the movie since it was released I had forgotten about the following scene of the movie. Looking back I am amazed that this scene actually made it into the movie. The two minutes of dialog in this scene speak volumes about US foreign policies.

America's Oil Price Inflation Crisis is Yet to Come

NIA is very disturbed by President Obama's decision to sell off oil from the U.S. emergency oil reserve, in an attempt to drive down oil prices. One week ago it was announced that the U.S. and other oil-consuming nations that are a part of the International Energy Agency (IEA) will begin releasing 60 million barrels of oil from their reserves, with 30 million barrels coming from the U.S. government-owned reserve. They hoped that by flooding the market with excess supply, they would cause an artificial forced liquidation of oil futures contract holders who bought using leverage.

 

Where Were You On Super Bowl Weekend?

compliments of: tfmetalsreport.com


I was in Vegas with my friend, Sweetness. He and I gambled too much. Drank too much gin and played a little golf.

Where were you? Did you watch the game? Perhaps you had a party? Maybe you're not an american football fan so you spent the weekend relaxing and catching up. Either way, like me, you had no way of knowing what was going on behind the scenes.

My next question is: Where was Ben Bernanke? Where was Tim Geithner? Where were the rest of the Fed governors and the heads of the TBTF banks? We may never know, though history one day may record their actions for posterity.

Obama Blames "Speculators" For High Gasoline Prices

Once again Obama stands up to defend the Federal Reserves over worked printing press.

from Google News

ANNANDALE, Virginia — US President Barack Obama blamed oil "speculators" on Tuesday for soaring gasoline prices that risk weighing down the US recovery and could dampen his 2012 election hopes.


"It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply. There's enough oil out there for world demand," Obama said at a campaign-style event not far from Washington.

NATO Running Out Of Ammunition In Libya "Oil Liberation" Campaign

Article from: ZeroHedge

Where does one even start with this one: US launches air campaign against oil rich country under pretext of humanitarian intervention (while ignoring comparable events in Syria and Iran). US realizes it does not actually use Libyan oil, government runs out of money, hits debt ceiling, leading to decision to pull out of Libya after it is uncovered that CIA operatives had been laying the groundwork for a government overthrow for months, and a scramble to avoid Iraq deja vu ensues. US hands over military campaign to ragtag NATO force led by France. NATO "air superiority" force bombs rebel units; Libyan rebels lose previously held positions and oil wells. Libyan government on verge of repelling US and NATO forces, leading to... NATO runs out of ammunition. There is no point to even comment on this increasingly more surreal chain of events.

Gas prices surge toward $4, threaten economic recovery

article by: Richard Moore

Gas prices continued to gallop toward $4 a gallon early this week, both in the area and across the state, as prices in Minocqua and Rhinelander hit $3.99 on Tuesday, even as prices for crude oil eased, at least temporarily.

$5 Gas By Summer? Prices Near $4 a Gallon As Frugal Americans Cut Back At The Pump (and some even start stockpiling food)!

Wall Street may be back to awarding $20million pay packages - but rising prices are shaking the confidence of many American consumers.

Average U.S. pump prices have jumped more than 19 cents since mid-March, to $3.765, which is less than 10 per cent below the all-time high.

Average station prices have already passed $4 in Chicago and several Western cities.

Gold, Silver and Oil Are All Skyrocketing And This Is Bad News For The US Economy

The following is one statement that you should get used to seeing: "The price of gold set another record today."  Today, spot gold reached a new all-time record of $1461.91 an ounce before settling back a little bit.  Silver is also skyrocketing.  At one point today silver hit $39.75 an ounce.  It seems inevitable that at some point we are going to be talking about $50 silver.  The price of oil is also continuing to relentlessly march upwards.  At last check U.S. oil was at about $108 a barrel.  All of this is great news for those that are investing in gold, silver and oil, but all of this is also really bad news for the U.S. economy.  Why?  Well, because when these commodities go up in price it is a sign that the U.S. dollar is dying and that our country is getting closer to economic collapse.

Feeling Depressed? 27 Depressing Statistics About The U.S. Economy That Will Make You Feel Even Worse

If you know someone that believes that the U.S. economy is in great shape, just show that person the following statistics.  But please don't show these statistics to anyone that is feeling depressed or that has just lost a job - it might push such a person over the edge.

Gasoline Up 100% Under Obama

article by: James S. Robbins

Feeling pain at the pump? Gas prices have doubled since Mr. Obama took office. According to the GasBuddy gasoline price tracking web site, the price of a gallon of regular gas was around $1.79 when Mr. Obama took office. Today the national average is $3.58. The lowest average price in the continental United States is $3.31 in Tulsa Oklahoma, the highest is $4.14 in Santa Barbara, CA. Four-dollar-a-gallon gas has arrived on average throughout California, and a number of other states are headed in that direction.

The Gasoline-Driver Inflation Hike

article by: Larry Kudlow

Last week, the Commerce Department revised real GDP up to 3.1 percent for the fourth quarter of last year. That was some cause for joy in the stock market. But today we saw a poor consumer-spending report for the month of February, which is picking up the rise in gasoline prices and the decline in consumer sentiment.

Wholesale Prices Up 1.6 pct. On Steep Rise In Food

WASHINGTON (AP) -- Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.

The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February -- double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.

Bob says DRILL!!!

Man, what can I say. I love this guy!

For those out there who have never watched one of Bob's rants, hold onto your hat. This guy lays it down hard and tells it like it is.

Potential New Deep Water Oil Spill In The Gulf Of Mexico-100 mile Sheen Reported

The U.S. Coast Guard is currently investigating reports of a potentially massive oil sheen about 20 miles away from the site of the Deepwater Horizon oil rig explosion last April.

According to Paul Barnard, operations controller for the USCG in Louisiana, a helicopter crew has been dispatched to the site of the Matterhorn SeaStar oil rig, owned by W&T Offshore, Inc.

Multiple reports have come in of a sheen nearly 100 miles long and 12 miles wide originating near the site.

Yale’s Shiller: Quake Could be Final Tipping Point for Markets, Oil

One of the nation’s leading economic analysts, Yale University professor Robert Shiller, believes the Japanese earthquake could spark a huge worldwide stock market drop as early as this week.

He points to the fact that a similarly huge decline occurred within days of the Kobe earthquake in 1995, which did far less damage than Friday’s massive earthquake and tsunami.

If The World Is Not A Boring Place, Why Is Obama So Dull?

A deadly earthquake and tsunami in Japan. An incipient civil war in Libya. Historic uprisings across the Arab world. A looming regional conflict in West Africa. The world is not a boring place. So why is Barack Obama so dull?

The Massive U.S. Trade Deficit Destroys 3 Million Jobs A Year

Commerce Department reported the deficit on international trade in goods and services was $46.3 billion in January, up from $40.2 billion in December and $27 billion in mid 2009, when the recovery began. Deficits on oil and with China jumped $1.2 and $2.6 billion, respectively, and the overall trade deficit is blocking the creation of 3 million jobs each year.

MAP OF THE DAY: Libya's Oil Infrastructure Is Burning -- Here's Where It's Located

Apologies for the blurriness of the map -- it came from Bofa/ML like this --- but it shows the location of Libya's oil infrastructure, a series of refineries and pipelines that are increasingly getting damaged.

Will The Day Of Rage In Saudi Arabia On March 11 Send The Price Of Oil Into Unprecedented Territory?

The price of oil is shaping up to be the number one economic story of 2011, and right now the eyes of the investing world are closely watching the developing situation in Saudi Arabia.  All of the other recent Middle East revolutions have been organized on the Internet, and now all over Facebook and Twitter there are calls for a "Day of Rage" in Saudi Arabia on March 11.

Closing the 'Collapse Gap': the USSR was better prepared for collapse than the US

Dmitry Orlov describes what he calls "superpower collapse soup" common to both the U.S. and the Soviet Union: “a severe shortfall in the production of crude oil, a worsening foreign-trade deficit, an oversized military budget, and crippling foreign debt.” He believes the U.S. will fare worse during the coming economic collapse because Americans have fewer backup plans than did the Russians.