January 27, 2015

Bits Bucket for January 27, 2015

Post off-topic ideas, links, and Craigslist finds here.

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Comment by real journalists
2015-01-27 02:56:27

real journalists

Comment by real journalists
2015-01-27 03:36:54

New York Times
Washington Post
Associated Press
Boston Globe
Los Angeles Times
San Francisco Chronicle
Huffington Post
National Public Radio


Comment by rj chicago
2015-01-27 09:14:54

From Drudge - headlines this morning -
You just can’t make this stuff up!!! What kinda place do we live in anymore -
DeBozo ordering indefinite street closure - didn’t the commies do this in Cuba and the USSR back in the day!

And I see why Real J doesn’t want to advertise Denver - 70 deg in Jan - Bring it on!!

NYC, Boston ban road travel…
New Yorkers told to stay off sidewalks?
De Blasio Orders Indefinite Street Closure…
‘You’re committing a crime’ if you violate ban…
Directs employers not to be ‘cheapskates’…
Subway shut…
WIRE: Storm fails predictions…
Six inches in NYC?
Meteorologist apologizes…
Weather Service to ‘evaluate modeling’…
6,000+ flights canceled…
Grocery stores cleaned out…
CHRISTIE: Be Home By 9…
Mayor Thanks Sharpton for ‘Climate Change’ Work…
MEANWHILE: Denver 70 Degrees!

Comment by rj chicago
2015-01-27 09:16:27

Uh oh - Drudge update -

Meteorologist apologizes…
Weather Service to ‘evaluate modeling’…
6,000+ flights canceled…
Grocery stores cleaned out…
CHRISTIE: Be Home By 9…
Mayor Thanks Sharpton for ‘Climate Change’ Work…

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Comment by rj chicago
2015-01-27 10:55:00

Drudge update No. 3 at 11.30 am CST…..

Meteorologist apologizes…
Weather Service to ‘evaluate modeling’…
Residents Lash Out…
6,000+ flights canceled…
Grocery stores cleaned out…
CHRISTIE: Be Home By 9…
Mayor Thanks Sharpton for ‘Climate Change’ Work…

Comment by Ol'Bubba
2015-01-27 05:57:48

Real journalists use verbs.

Comment by Combotechie
2015-01-27 06:01:40

… and never, NEVER, improper nouns.

Comment by MightyMike
2015-01-27 07:42:41

I see that he uses the word better as a noun below. Is he talking about gambling?

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Comment by Muggy
2015-01-27 04:35:07


Income disparity is growing faster and there is a higher percentage of low-wage jobs being created in Florida compared with most places in the United States, according to a pair of reports coming out this week…A whopping 61 percent of job openings in Florida pay less than the estimated living wage for a single adult…

Comment by real journalists
2015-01-27 06:11:55

It’s the Obama Recovery

Comment by oxide
2015-01-27 06:43:15

Some nice numbers in that article, Muggy, especially the discussion of “living wage.”

National adult living wage ≈ $15.00/hour
Florida single adult living wage ≈ $16.98/hour
Florida single adult + two kids ≈ $30.43/hour

I notice that the hard-core liberals don’t give out such numbers when they talk about living wage. I’m hesitant to use the “go to college and better yourself” bootstrap argument. But at the same time, I don’t think Wal-Mart should pay $60K a year for a cashier just because she needs a “living wage” for her two kids.

Comment by real journalists
2015-01-27 06:54:31

‘for her two kids’

my feminist betters inform that ‘it takes a village to raise a child’ and that some of the other villagers like bill just south of irvine should either ‘man up’ and marry those single moms or pay higher and higher taxes to support those children

and if you ask where the father(s) of those kids are, you are a racist


Comment by In Colorado
2015-01-27 09:03:26

But at the same time, I don’t think Wal-Mart should pay $60K a year for a cashier just because she needs a “living wage” for her two kids.

No problem, because you will pay for it. Foodstamps, Section 8 Vouchers and Medicaid payments don’t grow on trees.

Comment by MightyMike
2015-01-27 10:33:46

You also pay for the K-12 education for those kids.

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Comment by butters
2015-01-27 11:03:30

You pay for it regardless. I doubt WM will ever raise their employees salary even if they get to charge like WholeFoodss, but there is a possibility of that and you will the one paying for it.

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Comment by Homeless1
2015-01-27 12:09:55

I read that Walmart employees receive $6.2 in aid from taxpayers each year. I sure wish a co with $17 B in profits did not get my subsidy.

Comment by Homeless1
2015-01-27 12:12:58


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Comment by Professor Bear
2015-01-27 05:38:30

Opinion: He called $50 oil, now he says it’s going lower
By Howard Gold
Published: Jan 27, 2015 7:00 a.m. ET
Oil industry is in early phase of correction, fund manager says

Last November, when I was trying to figure out where oil prices were going, I spoke with Shawn Driscoll, manager of the T. Rowe Price New Era Fund, a mutual fund that focuses on natural resource stocks.

Brent crude was trading at $80 a barrel, and there was speculation that the Organization of Petroleum Exporting Countries would halt its slide by cutting production at its upcoming meeting, scheduled for Thanksgiving Day.

Driscoll was having none of it. Oil, gold, and other commodities, he told me, were in a secular bear market that could last another decade. He said oil would bottom out around $50 over the next 10 years.

Actually it took less than 10 weeks, as Brent traded under $48 a barrel on Monday. I usually don’t revisit columns or sources that quickly, but events have moved so fast I decided to catch up with Driscoll again.

Right off the bat, he acknowledged being surprised by the suddenness of oil’s price drop.

“We expected Saudi Arabia to cut, frankly,” he told me in a phone interview. “Once Saudi Arabia didn’t cut production, it became clear to us there was a problem.”

Both supply and demand were heading in opposite directions more drastically than he expected.

“Underlying demand got a lot weaker, Libya came back, Iraqi volumes have been pretty good,” he explained.

We spoke last Friday, the day after the pro-U.S. Yemeni government had fallen and King Abdullah of Saudi Arabia died and was succeeded by his 79-year-old half-brother Salman bin Abdulaziz al-Saud.

Yet despite these new uncertainties in the world’s most volatile, energy-rich region, Driscoll’s view remains unchanged: look out below.

He explained that $40 a barrel is the top of the industry’s operating cost curve — the price at which individual wells break even after they’ve been drilled and are producing and below which operators shut in existing wells.

So, does he think Brent will fall below that $40 magic number? “I do,” he told me.

Comment by Shillow
2015-01-27 06:25:30

Why would we care about the prediction from a person who the 3rd paragraph shows was dramatically wrong by calling 50 dollar oil something that would happen in a 10 year timeframe?

Comment by Professor Bear
2015-01-27 06:50:28

Technically he was right, but he gave himself a very long time window for his prediction to materialize.

Comment by Shillow
2015-01-27 07:44:19

He could have said eventually the sun will burn out and been technically right also. The point is the ten year timeframe makes it worthless and saying he called it is BS.

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Comment by Rental Watch
Comment by oxide
2015-01-27 06:47:18

If demand is so low, how much longer can Saudi Arabia not cut? At some point the world is going to run out of tanks and tankers to store the excess.

Comment by Housing Analyst
2015-01-27 06:51:33

Just like houses, so it is with oil and any other commodity.

Comment by Professor Bear
2015-01-27 06:57:20

Why would they cut now if they are able to produce profitably at current levels and drive their competitors out of business in the process? Cutting would result in loss of market share unless everone did it.

I realize there are drawbacks of low prices for countries whose primary product is oil, but they are temporary.

Comment by Oddfellow
2015-01-27 08:33:42

Why are they temporary?

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Comment by Professor Bear
2015-01-27 12:41:19

Temporary as in two or fewer decades…

Comment by Professor Bear
2015-01-27 07:07:14

As one of our most prolific posters recently pointed out, high cost producers who cannot produce profitability below $50/bbl are scaling back. Eventually only those who can profitably produce below $50/bbl will be left standing, at which point less new tanker storage capacity will be needed.

Comment by Housing Analyst
2015-01-27 07:15:38

And considering OPEC produces at $5-$6 a barrel, oil has a very long way to fall yet.

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Comment by ocsandrenter
2015-01-27 08:20:10

Eventually only those who can profitably produce below $50/bbl will be left standing.

U.S. frackers will keep furiously fracking as long as the incremental costs are less than$50 or whatever price Mr. Market eventually dictates as the bottom; sunk costs are blowin’ in the wind. Of course, that means no more new sunk costs to drill until the total costs, including up front drilling costs, are less than the anticipated future price of oil, which indicates recession coming soon to U.S. in 2015/2016+. Based on what I’ve read, frackers get most of their oil during the first 2 years of drilling, so prices aren’t going to bottom out for at least a year or two as long as Saudi Arabia holds it ground and onto its market share. Low prices hurt Shia (Iran, Iraq now thanks to U.S., Syria and ISIS (not Shia but Sunni)) more than Sunni…no brainer (S.A. - Sunni), S.A. will stand their ground.

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Comment by Housing Analyst
2015-01-27 08:26:26

Considering the largest producers do so for less than $10 a barrel, those producers will continue to call the shots.

Comment by Ben Jones
2015-01-27 08:40:19

The Saudi’s and Algerians are about to start fracking.

Comment by Blue Skye
2015-01-27 08:51:31

“U.S. frackers will keep furiously fracking as long as…”

they can borrow stupid money to do so.

Comment by Rental Watch
2015-01-27 10:07:40

See this article relaying information from the company doing a lot of the fracking:


Comment by Homeless1
2015-01-27 12:16:57

There is a Mazda 2 with a clean diesel engine that gets 70 mpg.
It would suit the needs of 60% of the drivers on the planet.

A VW Passat TDI can get 50 mpg if you carry passengers.

Good news for the planet!!

Comment by Rental Watch
2015-01-27 12:37:01

“The Saudi’s and Algerians are about to start fracking.”

I think there are some shale formations in South America as well (Argentina looks like a place to go).

Big picture, I think this means there will be ample oil available for a long time to come. The big question is cost to produce. My understanding is that there are limited locations where you can frack profitably at under $50 per barrel, with most requiring $60-$80 per barrel to profitably pull the oil from the ground.

If your bet is on oil falling to $30 for pronounced time periods, I think that bet is a loser.

If your bet is on oil going back to $100 (other than limited numbers of spikes)–I think that bet is a loser.

If your bet is on oil recovering to between $60 and $80, and trading in that range for a long time? A reasonable bet.

I also think the oil services companies that are the experts in fracking will do well (Haliburton is the name that comes to mind). If fracking ends up being the swing production, Haliburton will be hired a lot to drill.

Comment by Housing Analyst
2015-01-27 12:39:27

“If your bet is on oil falling to $30 for pronounced time periods, I think that bet is a loser.”

You’re in for the surprise of your life Rental_Fraud.

Comment by Blue Skye
2015-01-27 13:53:44

Some of our fellows still don’t know there was a massive global bubble; credit, housing, commodities & etc.

Comment by Bill, just south of Irvine
2015-01-27 08:13:33

Bring it down! Let’s see $1.50 oil. And then $1.25 oil!

I’m still leaning toward getting a Toyota Corolla for my next car. 37mpg highway.

Comment by oxide
2015-01-27 13:07:12

I clocked my 2007 Corolla at 42 mpg highway, but that was when it was new. Might not be as good now.

Comment by Captain Credit Crunch
2015-01-27 22:40:14

My 911TT can get 30 mpg just cruising in 6th at 60mph. Not much fun, though. :)

Comment by Raymond K Hessel
Comment by palmetto
2015-01-27 06:19:34

Poof! Poof!

Comment by Housing Analyst
2015-01-27 06:21:34

Did a warning go out from the HBB about the toxicity of this junk?


Comment by Shillow
2015-01-27 06:30:39

Aren’t the yeild chasers just going to head to Europe to get a bite of that QE Eur?

Will it ever be time to pay the piper?

Comment by Professor Bear
2015-01-27 06:52:22

One man’s crash is another man’s buying opportunity.

Comment by Raymond K Hessel
2015-01-27 07:27:01

Said the knife catcher, before his multiple lacerations sent him to the ER.

Comment by Homeless1
2015-01-27 12:18:50

Did Soros go to the ER? Not everyone loses. If you have the extra funds, you can take a shot at the title.

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Comment by palmetto
2015-01-27 06:17:23

Regions 1 & 2, come in…Regions 1 & 2, please check in.

The Blizzard That Wasn’t.

Comment by real journalists
2015-01-27 06:35:30

There are over a dozen links on this topic at the top of the Drudge Report website right now

Comment by Professor Bear
2015-01-27 06:46:12

It’s all good, as now Wall Street traders can get back to their regularly scheduled program of worrying about the overvalued stock market.

Comment by palmetto
2015-01-27 06:55:42

Heh, all flights cancelled, schools closed, roads closed, and it is a crime to be out driving in the “settled science”.

But hey, Wall Street’s open! What does that tell you?

I wonder if this was some sort of social experiment? If so, well played, well played! Everyone got to be a crisis actor for a day.

Comment by phony scandals
2015-01-27 06:59:06

Forecasters Fail on Blizzard, Yet We’re Supposed to Believe 100-Year Climate Models

Meteorologists apologize for “snowmageddon” predictions

by Paul Joseph Watson | January 27, 2015

Weather forecasters are apologizing for over-exaggerating what was just two days ago being predicted to be the “worst ever” blizzard to hit the eastern US, and yet we’re simultaneously supposed to believe 100-year climate models that purport to show the earth being devastated by global warming.

After Governors in six states declared emergencies, with some threatening to order police to arrest anyone who drove during the snowstorm, the blizzard turned out to be a great deal more benign than the doomsday headlines just 24 hours before had billed it.

The “snowmaggedon” that was forecast by meteorologists to top 2006′s record of 26.9 inches of snow in New York City failed to materialize, with about 6.3 inches of snow falling in Central Park by early Tuesday. The National Weather Service canceled its blizzard warning, with computer models up to 50 miles out on where the storm actually landed.

Weather forecasters began to make their apologies, with Gary Szatkowski, tweeting, “My deepest apologies to many key decision-makers and so many members of the general public.”

“For much of New Jersey, and for the Philadelphia Metropolitan area, this is a big forecast miss,” he later acknowledged.

Paul Joseph Watson @PrisonPlanet

The snow is caused by global warming. Also, NO SNOW is caused by global warming. Shut up & pay your carbon tax

6:13 AM - 27 Jan 2015

The End of Snow?

Nothing besides a national policy shift on how we create and consume energy will keep our mountains white.
The New York Times @nytimes

Comment by real journalists
2015-01-27 07:07:35

Today’s forecast high for Region VIII is 71F degrees

Warmists gonna warm

Comment by phony scandals
2015-01-27 07:26:36

Colorado Springs gets close, but misses record temp

By Tom Roeder Published: January 27, 2015

A 33-year-old high-temperature record for Colorado Springs was almost broken Monday, but the sun didn’t shine quite warm enough.

The record-high temperature for Jan. 26 in the city was set with a balmy 68 degrees in 1982.

Tuesday is expected to bring more record-threatening heat. The warmest temperature recorded in Colorado Springs for Jan. 27 came in 1970, when Colorado Springs reached 67 degrees.

“We’re going to get something,” Peggy Perales, a meteorologist with the weather service said. “We’re just not sure how much and what.”

Read more at http://gazette.com/colorado-springs-gets-close-but-misses-record-temp/article/1545253#iT31sSHB2UiH13BE.99

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Comment by Raymond K Hessel
2015-01-27 07:28:09

You can only cry wolf so many times before you lose all credibility.

Comment by real journalists
2015-01-27 07:37:35

We didn’t need those Maldive islands anyway


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Comment by Blue Skye
2015-01-27 10:29:28

“Climate change is happening because heightened amounts of heat-trapping gases are working like a blanket and warming the globe”

Go back to the basics. The whole thought process rests on this one childish error about how things work without an understanding of the difference between conduction, convection and radiation.

Comment by Blue Skye
2015-01-27 08:54:31

It was just a squall. My barometer said so the day before yesterday.

Comment by Raymond K Hessel
2015-01-27 06:21:02

The comrads in China don’t like the less-equal animals exchanging information about the true state of the country on the Internet.


Comment by Shillow
2015-01-27 06:32:13

The comrades at Facebook want your internet experience managed also. Probably all entrenched big tech type firms want the same because they are part of the establishment with hands already in your pockets.

Comment by Housing Analyst
2015-01-27 07:20:38

Facebook has to be the most absurd, pathetic outpost on the internet.

Comment by real journalists
2015-01-27 07:23:44

You gotta have a facebook to have a Tinder profile, grandpa

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Comment by Housing Analyst
2015-01-27 07:39:52

Careful. That things gonna rot and fall off.

Comment by Homeless1
2015-01-27 12:20:11

You gotta have a facebook to have a Tinder profile, grandpa

LOL!!!!! so true!!

Comment by Raymond K Hessel
2015-01-27 07:29:49

Facebook has to be the most absurd, pathetic outpost on the internet.

That’s it. I’m defriending you!

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Comment by Jopseph Stalin
2015-01-27 06:34:55

“‘In China, internet development must follow Chinese laws and regulations. Certain harmful information should be managed according to Chinese laws,’ he told a news conference.”

Yes, and those who disseminate harmful information must also be managed.

For the children, of course. Always, always for the children.

- Uncle Joe

Comment by real journalists
2015-01-27 06:58:41

‘for the children’

uncle joe you sure did a good job teaching obama how to convince america that everything he does is ‘for the children’

Comment by Raymond K Hessel
2015-01-27 07:31:06

“For the children” started with Janet Reno at Waco.

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Comment by real journalists
2015-01-27 07:55:27

“We had to gas and burn the children alive to save the children”

That happened under Slick Willie’s watch, what kind of shenanigans will Empress Hillary cook up after her coronation?


Comment by Combotechie
2015-01-27 06:46:45

Suck ‘em in, shake ‘em out.

As of now the DOW futures are down 300 points.

Comment by Raymond K Hessel
2015-01-27 06:52:28

The retail muppets are going to get slaughtered, while Da Boyz have probably already exited and taken out short positions. Got popcorn?

Comment by Combotechie
2015-01-27 07:01:39

“The retail muppets are going to get slaughtered”

… as in they will have their stops triggered by this dip and this will allow the shorts to cover their positions. This is the shake ‘em out phase.

Then prices will shoot up (the suck ‘em in phase) and the muppets will once again buy into the rise.

Comment by Combotechie
2015-01-27 07:11:36

In few other places than Wall Street does this work, this ability to entice people to buy by raising prices and enticing them to sell by dropping prices, but in Wall Street it works quit well.

And so it does in real estate.

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Comment by Professor Bear
2015-01-27 07:00:30

Sounds like Wall Street could have used a good blizzard to help traders take their minds off market volatility.

Comment by real journalists
2015-01-27 06:49:48

this is a drudge report link

‘nearly a dozen democrats, said they were worried clinton’s hires for the top echelons of her pre-campaign haven’t taken gender and diversity into account.

one operative quipped that the top levels of the campaign are in danger of looking like ‘white dudefest 2016.’


and on the topic of diversity, the 2014 super bowl coke commercial



Comment by Professor Bear
2015-01-27 07:13:18

‘nearly a dozen democrats, said they were worried clinton’s hires for the top echelons of her pre-campaign haven’t taken gender and diversity into account.’

I can see where nondiscimination in hiring could be a problem for a Democratic politician.

Comment by real journalists
2015-01-27 07:21:24

You will learn everything you’ll ever need to know about the Democrat Party by reading David Horowitz’s book “Hating Whitey and Other Progressive Causes”



Comment by Cactus
2015-01-27 10:39:30

“Racial Domination, Racial Progress: The Sociology of Race in America.”

Above book is 76 bucks while David Horowitz’s book is starting at 1 cent.

I guess Universities don’t require reading “Hating Whitey ” ?

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Comment by Tarara Boomdea
2015-01-27 11:54:56

“Hating Whitey” is available in my local library, both copies available. I was surprised it was there at all.

Comment by real journalists
2015-01-27 07:17:00

Because voting is like a suggestion box for slaves


So happy I don’t watch TeeVee and won’t be seeing any of the advertising this $1 billion will buy

Comment by MightyMike
2015-01-27 07:46:21

Yeah, I’m sure that it will never occur to them to advertise on web sites.

Comment by real journalists
2015-01-27 08:00:21

Only the olds don’t know how to block online advertising, grandpa

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Comment by Oddfellow
2015-01-27 11:11:15

“advertise on web sites”

Or start/fund their own.

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Comment by Raymond K Hessel
2015-01-27 06:53:27

Precious metals: the anti-Fed.


Comment by Bill, just south of Irvine
2015-01-27 08:16:06

Yes they are anti-fed. A smart person stacks the physical bullion, as it’s movable, hidable wealth.

Comment by Raymond K Hessel
2015-01-27 06:55:09

Looks like Obama’s “all is well, crisis contained” happy talk at his SOTU speech was a tad premature.


Comment by Raymond K Hessel
2015-01-27 06:56:51

The financial reckoning day approaches. Be afraid, FBs and realtors. Be very afraid. The Fed has already blown its wad so don’t count on much help from them this time around.


Comment by Shillow
2015-01-27 07:51:03

Apple earnings today. The straw that stirs the tech drink.

Comment by Housing Analyst
2015-01-27 07:00:57

Jonesy… Where or who was DipstickDan’s rage directed at?

Comment by palmetto
2015-01-27 07:45:14

Did adan get China Syndromed?

Comment by Professor Bear
2015-01-27 09:06:46

Didn’t you notice there are 50% fewer posts today than the average over the last week?

Comment by real journalists
2015-01-27 10:53:08

China, oil, global warming, Obama, et cetera

If everybody here copies and pastes that in a new post, it will be just like Dannyboy never left

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Comment by Professor Bear
2015-01-27 12:46:30

It got pretty monotonous and annoying towards the end…

Comment by real journalists
2015-01-27 07:03:34

another drudge link for the badge lickers and uniform fetishists

little piggies oinking about smartphone apps that track their ‘revenue enhancement’ locations, can’t be having that because it’s all about the public safety, and it’s ‘for the children’


Comment by phony scandals
2015-01-27 07:04:12

As the Middle Class Evaporates, Global Oligarchs Plan Their Escape from the Impoverished Pleb Masses

Michael Krieger | Posted Monday Jan 26, 2015 at 11:38 am

The middle class has shrunk consistently over the past half-century. Until 2000, the reason was primarily because more Americans moved up the income ladder. But since then, the reason has shifted: There is a greater share of households on the lower rungs of the economic ladder.

– From yesterday’s New York Times article: Middle Class Shrinks Further as More Fall Out Instead of Climbing Up

At a packed session in Davos, former hedge fund director Robert Johnson revealed that worried hedge fund managers were already planning their escapes. “I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway,” he said.

– From the Guardian’s article: As Inequality Soars, the Nervous Super Rich are Already Planning Their Escapes

So the other day, President Barack Obama once again demonstrated his contempt for the American public by using his State of the Union address to pejoratively blurt out meaningless phrases such as “but tonight, we turn the page” and: “The verdict is clear. Middle-class economics works. Expanding opportunity works. And these policies will continue to work, as long as politics don’t get in the way.”

Sorry, but why are “we turning the page” tonight? Weren’t you elected over six years ago? Why didn’t you turn the page in 2009?

Welcome to the recovery suckers.

libertyblitzkrieg.com/…/ - 74k -

Comment by real journalists
2015-01-27 07:40:51

Pol Pot had the solution for what to do with these 0.1%ers :)

Comment by 2banana
2015-01-27 07:54:31

Pol Pot - a liberal progressive - murdered nearly one third the population of Cambodia.

There is not a problem that bigger and bigger government cannot solve…

Comment by real journalists
2015-01-27 08:21:03

Keep your goddamn government hands off my federal crop subsidies and my cost-plus government contracts!

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Comment by Bring Back the WPA
2015-01-27 09:03:37

LOL … +1

Comment by Homeless1
2015-01-27 12:22:26


Alcoa loves the gov!!

Comment by Michael Viking
2015-01-27 12:31:26

+1?? I looked and I looked and I read every word twice. I still didn’t see anywhere where 2banana said anything about supporting crop subsidies and cost-plus government contracts.

Comment by MightyMike
2015-01-27 13:26:17

I still didn’t see anywhere where 2banana said anything about supporting crop subsidies and cost-plus government contracts.

That may be the point. He complains about “big government” but there are certain parts of the government that he never criticizes.

Comment by Oddfellow
2015-01-27 10:12:09

““I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway,” he said.”

Makes sense. They’re hedging their bets.

New Zealand is going to be a funny place when TSHTF. Seems like it’s everybody’s favorite escape destination. I hope they have enough airplane hangars and yoga teachers.

Comment by Tarara Boomdea
2015-01-27 11:06:39

Comment by phony scandals
2015-01-27 07:04:12

As the Middle Class Evaporates, Global Oligarchs Plan Their Escape from the Impoverished Pleb Masses

Comment by aNYCdj
2015-01-27 07:12:59

The EIA publishes what they call a Drilling Productivity Report in which they claim that each rig is getting more productive, that is each rig produces just a little more oil each month than it did the previous month. But over the long haul, I find that the exact opposite is true. In every place in the world, each rig produces a little less oil every year.


Comment by Housing Analyst
2015-01-27 07:18:13

With a globe full of excess crude, cratering crude prices and plunging oil demand, what difference does it make?

Comment by Raymond K Hessel
Comment by Professor Bear
2015-01-27 07:32:06

Why is Mr Market so glum today? Are Grexit fears spilling across the Atlantic Ocean to Wall Street?

Comment by Professor Bear
2015-01-27 07:37:18

Dow industrials plunge more than 200 points at opening bell

Economic Report
City-by-city look at house prices, including Chicago’s drop
By Steve Goldstein
Published: Jan 27, 2015 9:01 a.m. ET
A real estate sign in Washington D.C., where prices fell in November, according to data released Tuesday.

WASHINGTON (MarketWatch) — Here’s a city-by-city look at U.S. home prices, as the S&P/Case-Shiller 20-city composite fell 0.2% in November.

Comment by Professor Bear
2015-01-27 07:39:48

Any thoughts on the timing of QE4?

Comment by Housing Analyst
2015-01-27 07:54:42

I wonder if it’s dawned on them yet that QE results in cratering demand?

Comment by azdude
2015-01-27 08:46:47

QE4 is a guarantee at this point. There is not enough private demand for the treasuries that need to be sold every year to pay off maturing treasuries.

All this talk about raising rates is just hype. The markets will crash without more QE.

Comment by Housing Analyst
2015-01-27 08:52:52

And they’ll crash with it. That’s the catch 22 they’re in. Until prices fall, demand will continue to crater. More QE gaurantees cratering demand.

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Comment by Bring Back the WPA
2015-01-27 09:23:45

You have it backwards, azdude. Demand for treasuries exceeds the supply, that’s why the rates are so low. Bidders at the auctions bid up the principal they will pay for a bond, which has the effect of reducing the yield.

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Comment by Homeless1
2015-01-27 12:24:57

too many people, not enough work.

QE might be never-ending.

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Comment by Housing Analyst
2015-01-27 12:40:50

Which simply drives demand and employment lower.

Comment by Professor Bear
2015-01-27 07:56:03

Bond Report
Treasury yields fall on weak durable-goods orders
By Joseph Adinolfi
Published: Jan 27, 2015 9:21 a.m. ET

NEW YORK (MarketWatch) —Treasury yields dropped, reversing early gains, as a surprise drop in durable-goods orders on Tuesday added to worries about a slowing U.S. economy.

The yields on 10-year (TMUBMUSD10Y, -3.79%) and 30-year Treasurys (TMUBMUSD30Y, -3.08%) were both down five basis points to 1.765% and 2.350%, according to Tradeweb data.

The two-year Treasury yield (TMUBMUSD02Y, -5.53%) shed three basis points to 0.495%.

Orders for durable goods dropped 3.4% in December, the fourth decline in the past five months. Economists surveyed by MarketWatch had expected orders to rise 0.1%. Adding to the sense of weakness, durable-goods orders for November were revised to show a 2.1% decline instead of a 0.9% decline.

Comment by azdude
2015-01-27 08:05:17

why are stocks cratering today?

mr softy plunges 10%? Didn’t sell enough x box’s?

“The crisis has passed”

Comment by Whac-A-Bubble™
2015-01-27 14:44:49

Most bullish U.S. bond investors in 8 weeks -survey
NEW YORK Tue Jan 27, 2015 12:18pm EST
Related News
GLOBAL MARKETS-Stocks fall as U.S. earnings disappoint; euro up vs dlr
CORRECTED-U.S. home price growth slows again in November-S&P/Case-Shiller

Jan 27 (Reuters) - Mounting worries about weak global growth boosted the number of investors who are bullish on longer-dated U.S. Treasuries this week to its highest level since early December, according to a J.P. Morgan Securities survey released on Tuesday.

Last week’s bond purchase program introduced by the European Central Bank, along with falling Wall Street stock prices, spurred purchases of 30-year U.S. Treasury bonds, whose yields booked a series of record lows.

The Federal Open Market Committee began a two-day policy meeting on Tuesday. After surprise rate cuts from some European central banks and the Bank of Canada last week, some traders reckoned the Fed might abandon any plans to lift interest rates in 2015.

The share of long investors, or those who said on Monday they held more longer-dated Treasuries than their benchmarks, rose to 22 percent from 20 percent the prior week.

This was the biggest share of long investors since Dec. 1, J.P. Morgan said.

By holding more longer-dated Treasuries, investors raise the duration of their portfolios in anticipation of a fall in yields or a protracted period of steady yields. A portfolio with a longer duration will notch greater profits if yields drop, and prices of longer-dated bonds rise more than those of shorter-dated debt.

If yields rise, longer-dated Treasuries produce bigger losses than short-term debt.

In midday trading on Tuesday, the yield on benchmark 10-year Treasuries notes hovered near a 20-month low. It was last traded 1.777 percent, down 5 basis points from late Monday.

The 30-year Treasuries yield was last 2.344 percent after touching a record low of 2.328 percent earlier Tuesday.

Comment by ibbots
2015-01-27 07:42:44
Comment by Housing Analyst
2015-01-27 07:45:50

Considering that’s half the monthly cost of buying in Dallas, why wouldn’t you rent?

Comment by ibbots
2015-01-27 08:24:07

The number of Dallas-Fort Worth homes threatened with foreclosure next month has dropped to the lowest level in more than a decade.


Comment by Housing Analyst
2015-01-27 08:33:25

With foreclosure moratoriums in all 4 directions, does this surprise you?

Comment by ibbots
2015-01-27 09:43:31

Dallas-area home price gains are continuing to increase in the latest Standard & Poor’s/Case-Shiller Home Price Index.


Comment by Housing Analyst
2015-01-27 09:58:33

I can ask $50k for my 10 year old Chevy truck but where is the buyer at that price?

So it is with housing in Dallas.

Dallas, TX Housing Demand Plummets 15% In 2014; Inventory Balloons


Comment by ibbots
2015-01-27 10:40:13

1.5 mos of inventory = balloons!

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Comment by Housing Analyst
2015-01-27 10:43:19

Inventory doesn’t mean much with demand collapsing.

Comment by Homeless1
2015-01-27 12:26:37

$1423, you can buy for less than that if you saved your 20% down.

That is, if you are sentenced to live in Dallas.

Comment by Housing Analyst
2015-01-27 12:37:07

Now add in losses to depreciation.

Comment by phony scandals
2015-01-27 07:43:43

Falling Gas Tax Revenue Has California Lawmakers Considering Mileage Tax Plan

January 25, 2015 12:24 AM

SAN FRANCISCO (CBS SF) — With an increase in electric and hybrid vehicles along with better fuel-efficient vehicles, changing Bay Area drivers habit are posing a serious problem for state coffers.

As motorists use less and less gas, gas tax revenues to pay for state highways, roads and bridges shrink. Meanwhile, as gas prices fall, so does the sales tax generated by fuel sales. In California, among the taxes collected on fuel is a 2.25% sales tax on gasoline and a 9.67 percent tax on diesel.

Some state lawmakers feel a mileage tax is the best solution.

sanfrancisco.cbslocal.com/…/ - 266k -

Comment by azdude
2015-01-27 07:55:42

anything to get a tracking device on your car?

Comment by In Colorado
2015-01-27 09:37:32

All they have to do is read your odometer once a year, say at registration renewal time.

Comment by Bring Back the WPA
2015-01-27 11:29:46

Suddenly older cars with mechanical odometers become popular… also popular will be “rollback” as a search term on CL, LOL

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Comment by 2banana
2015-01-27 08:04:53

So why not just tax tires more then?

Because democrats need to track your every mile.

It is for the children

Comment by aNYCdj
2015-01-27 09:26:13

I would love it it everyone had to verify the mileage with their insurance company yearly, since i drive so little my insurance would go down 50%……….fair is fair!

Comment by drumminj
2015-01-27 11:00:15

You can do that — get a discount for driving less than a certain # of miles (I get it…less than 7k miles/year). You can also get a discount if you only use the car for leisure, not to-from work.

Comment by Cactus
2015-01-27 11:21:36

A regressive tax to get all the poors who have to drive in from the Central Valley to clean up after the rich Bay Area home owners.

Comment by Tarara Boomdea
2015-01-27 11:53:15

Comment by phony scandals
2015-01-27 07:43:43

Falling Gas Tax Revenue Has California Lawmakers Considering Mileage Tax Plan

Comment by Homeless1
2015-01-27 12:28:56

Such a bummer that we pay more for diesel in the USA than gas.

In Europe and Asia diesel is cheaper. What gives? There are some fantastic clean diesel engines these days.

Comment by Housing Analyst
2015-01-27 12:32:13

“Clean diesel”. lol

Comment by redmondjp
2015-01-27 15:32:53

Um, it’s not a joke. Compare any modern diesel car or light truck to, let’s say a city bus (10-15 years old in my area). You’ll know the difference from sitting behind each for 30 seconds at a traffic light.

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Comment by Housing Analyst
2015-01-27 17:00:18

Um, it is a joke. There is no “clean diesel” engine. Either it’s belched back into the induction and the engine is destroyed or it dumped into the atmosphere. Look no further than junk-from-factory volkswagens. ;)

Comment by Blue Skye
2015-01-27 14:00:52

I think you cannot easily compare fuel prices in Europe to the USA without a little extra math. They sell fuel by the weight, we sell it by volume.

Comment by Housing Analyst
2015-01-27 08:13:19
Comment by real journalists
2015-01-27 08:24:10

Cure that rage with some sweetness, you know you want some of this:


Comment by Housing Analyst
2015-01-27 08:32:10

That looks tasty Potsy.

Comment by In Colorado
2015-01-27 09:39:18

Cure that rage with some sweetness, you know you want some of this:

Are those “enhanced” or are they just regular ones from King Soopers?

Comment by Housing Analyst
2015-01-27 09:44:51

They’re heavenly when I put a stick of butter on top and stick in the oven for 10 minutes.

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Comment by real journalists
2015-01-27 12:48:43

Speaking of cinnamon rolls, check out this tattooed beauty


Comment by Tarara Boomdea
2015-01-27 14:46:02

tattooed beauty

Well, that was ridiculous, but so is this:
People Are Outraged That This Is Calvin Klein’s Idea Of A Plus-Size Model

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Comment by real journalists
2015-01-27 14:57:07

I’d tap that

Comment by Puggs
2015-01-27 16:22:23

Kliener RAGE!!

Comment by Tarara Boomdea
2015-01-27 17:53:48

I’d tap that

I don’t think most men find overly skinny attractive, but what do I know. When I see a typical model I get the urge to make the poor girl a sammich.

Here ya go, would be superskinnies:
Ayds Weight Reducing Plan Candy Vanilla Caramel 2 Weeks Supply

Comment by aNYCdj
2015-01-28 09:09:25

Of course very little of that fat goes up top……….so they look pregnant

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Comment by rj chicago
2015-01-27 09:07:57

More potential layoffs at US Steel - in Alabama for all places


Comment by Bring Back the WPA
2015-01-27 09:13:11

Ha! Yesterday in my bitbucket post at 09:31:52 I said the Dow was forming a diamond formation and there was a 69% chance of a hard selloff… dang, too bad I didn’t follow my own advice, coulda made a few bucks today on the short side.

Comment by Professor Bear
2015-01-27 09:16:38

Sales of new homes barely managed to rise last year
Published: Jan 27, 2015 10:57 a.m. ET
December sales jump to 481,000, well above expectations
By Greg Robb
Senior economics reporter
AFP/Getty Images
A townhome for sale on Dec. 30 in Centreville, Virginia.

WASHINGTON (MarketWatch) — After a year of fits and starts, sales of new single-family homes rose slightly over all of 2014 compared to 2013, the government reported Tuesday.

An estimated 435,000 new homes were sold in 2014, up from 429,000 a year earlier and the highest level in six years. In December, sales of new single-family homes rebounded 11.6% to a seasonally adjusted annual rate of 481,000.

Economists polled by MarketWatch had expected a December home-sales rate of 455,000, compared with an originally estimated November rate of 438,000. On Tuesday, the government revised November’s rate to 431,000. Sales of new homes in December were up 8.8% from a year earlier.

More broadly, sales remain far below a peak rate of almost 1.4 million in 2005.

“The improvement in the December data is in line with other housing activity indicators, which suggest the housing market stabilized at the end of last year after some weakness in the first half of 2014,” said Jesse Hurwitz, an economist with Barclays.

Other economists were more skeptical.

“This looks good but it says more about the weather than the underlying state of the housing market,” said Ian Shepherdson, chief economist of Pantheon Macroeconomics.

Comment by Rental Watch
2015-01-27 10:16:17

The regional data matters here:

The South (which includes TX) was roughly flat
The Midwest was down about 10%
The Northeast was up a lot, about 70%
The West was up about 25%

I can understand them saying that the NE was up because the weather was better this year.

I can understand them saying that TX was flat because of oil

How does weather explain the Midwest being down 10%?

How does the weather explain the West being up 25%?

Comment by Housing Analyst
2015-01-27 10:23:25

Keep in mind that the cost of a new house is far less than a resale house.

Comment by aNYCdj
2015-01-27 09:33:14

great investment opportunity National Bank of Greece S.A. (NBG) the 10 year is really nice


Comment by Tarara Boomdea
2015-01-27 12:48:21

Las Vegas Real Estate News blurb today:
Builders need to Sell 2014 Inventory!
Cancellation rates jumped to 34 percent… Builders Loss is your Gain!
Buy a New Home get up to $20,000 cash back

Comment by rms
2015-01-27 13:43:25

“U.S. Spies on Millions of Drivers”

DEA Uses License-Plate Readers to Build Database for Federal, Local Authorities

WASHINGTON—The Justice Department has been building a national database to track in real time the movement of vehicles around the U.S., a secret domestic intelligence-gathering program that scans and stores hundreds of millions of records about motorists, according to current and former officials and government documents.

The primary goal of the license-plate tracking program, run by the Drug Enforcement Administration, is to seize cars, cash and other assets to combat drug trafficking, according to one government document. But the database’s use has expanded to hunt for vehicles associated with numerous other potential crimes, from kidnappings to killings to rape suspects, say people familiar with the matter.

Officials have publicly said that they track vehicles near the border with Mexico to help fight drug cartels. What hasn’t been previously disclosed is that the DEA has spent years working to expand the database “throughout the United States,’’ according to one email reviewed by The Wall Street Journal.

Many state and local law-enforcement agencies are accessing the database for a variety of investigations, according to people familiar with the program, putting a wealth of information in the hands of local officials who can track vehicles in real time on major roadways.

The database raises new questions about privacy and the scope of government surveillance. The existence of the program and its expansion were described in interviews with current and former government officials, and in documents obtained by the American Civil Liberties Union through a Freedom of Information Act request and reviewed by The Wall Street Journal. It is unclear if any court oversees or approves the intelligence-gathering.

A spokesman for Justice Department, which includes the DEA, said the program complies with federal law. “It is not new that the DEA uses the license-plate reader program to arrest criminals and stop the flow of drugs in areas of high trafficking intensity,’’ the spokesman said.

Sen. Patrick Leahy, senior Democrat on the Senate Judiciary Committee, said the government’s use of license-plate readers “raises significant privacy concerns. The fact that this intrusive technology is potentially being used to expand the reach of the government’s asset-forfeiture efforts is of even greater concern.’’

The senator called for “additional accountability’’ and said Americans shouldn’t have to fear ”their locations and movements are constantly being tracked and stored in a massive government database.’’

The DEA program collects data about vehicle movements, including time, direction and location, from high-tech cameras placed strategically on major highways. Many devices also record visual images of drivers and passengers, which are sometimes clear enough for investigators to confirm identities, according to DEA documents and people familiar with the program.

The documents show that the DEA also uses license-plate readers operated by state, local and federal law-enforcement agencies to feed into its own network and create a far-reaching, constantly updating database of electronic eyes scanning traffic on the roads to steer police toward suspects.

The law-enforcement scanners are different from those used to collect tolls.

By 2011, the DEA had about 100 cameras feeding into the database, the documents show. On Interstate 95 in New Jersey, license-plate readers feed data to the DEA—giving law-enforcement personnel around the country the ability to search for a suspect vehicle on one of the country’s busiest highways. One undated internal document shows the program also gathers data from license-plate readers in Florida and Georgia.

“Any database that collects detailed location information about Americans not suspected of crimes raises very serious privacy questions,’’ said Jay Stanley, a senior policy analyst at the ACLU. “It’s unconscionable that technology with such far-reaching potential would be deployed in such secrecy. People might disagree about exactly how we should use such powerful surveillance technologies, but it should be democratically decided, it shouldn’t be done in secret.’’

License-plate readers are already used in the U.S. by companies to collect debts and repossess vehicles, and by local police departments to solve crimes.

In 2010, the DEA said in internal documents that the database aided in the seizure of 98 kilograms of cocaine, 8,336 kilograms of marijuana and the collection of $866,380. It also has been connected to the Amber Alert system, to help authorities find abducted children, according to people familiar with the program.

One email written in 2010 said the primary purpose of the program was asset forfeiture—a controversial practice in which law-enforcement agencies seize cars, cash and other valuables from suspected criminals. The practice is increasingly coming under attack because of instances when law-enforcement officers take such assets without evidence of a crime.

The document said, “…DEA has designed this program to assist with locating, identifying, and seizing bulk currency, guns, and other illicit contraband moving along the southwest border and throughout the United States. With that said, we want to insure we can collect and manage all the data and IT responsibilities that will come with the work to insure the program meets its goals, of which asset forfeiture is primary.’

A number of lawmakers have been planning to offer legislation to rein in what they call abuses of asset-forfeiture laws. The Justice Department recently announced it was ending its role in one type of asset seizure, known as “adoptions,’’ a process by which local officials take property, then have the assets adopted and sold by the federal government. Often, that allows the local agency to keep a higher percentage of the money from the seizure. The policy change doesn’t affect the bulk of asset seizures in the U.S.

The national vehicle database program was launched in 2008 and opened to participating state and local authorities a year later. The initial focus was on tracking cars moving on or near the Southwest border, in order to follow the movements of drugs and drug money, according to officials and documents. Requests to search the database are handled by the El Paso Intelligence Center in Texas, which is known as EPIC in law enforcement circles. EPIC is staffed around the clock to both take in and send out information about “hits’’ on requested license plates.

The effort began in border states like Arizona, California, Nevada, New Mexico and Texas, but the goal has always been expansion, according to current and former federal officials and documents. Officials wouldn’t say how many other states are now feeding data into the system, citing concerns that disclosing such information could help criminals avoid detection.

The federal program hasn’t always been embraced by states. At a 2012 hearing, Utah lawmakers balked when DEA officials sought to have license-plate readers in the state feed into the database—one of the few times the agency has provided even limited facts about the program. That same year, a DEA official made a general reference to the program at a congressional field hearing about the Southwest border, saying it was built to monitor and target vehicles used to transport bulk cash and other contraband.

Under questioning from Utah lawmakers, the agency said the program began with an effort to track drug shipments on the Southwest border, and the government wanted to add monitors on major drug-trafficking routes like Utah’s Interstate 15, in order to hunt a wide array of criminals. That alarmed privacy advocates, who noted at the time that the DEA’s map of major drug routes included most of the national highway system.

The agency has reduced the time it holds the data from two years to 3 months, according to a Justice Department spokesman.

The EPIC database allows any police agency that participates to quickly search records of many states for information about a vehicle. One May 2010 redacted email says: “Anyone can request information from our [license-plate reader] program, federal, state, or local, just need to be a vetted EPIC user.…’’

The data are also shared with U.S. border officials, according to an undated memorandum of understanding between the DEA and Customs and Border Protection officials. That document shows the two agencies specifically said that lawmakers might never specifically fund the work, stating: “this in no way implies that Congress will appropriate funds for such expenditures.’’

The disclosure of the DEA’s license-plate reader database comes on the heels of other revelations in recent months about the Justice Department, as well as the agencies it runs, gathering data about innocent Americans as it searches for criminals.

In November, The Wall Street Journal reported that the U.S. Marshals Service flies planes carrying devices that mimic cellphone towers in order to scan the identifying information of Americans’ phones as it searches for criminal suspects and fugitives. Justice Department officials have said the program is legal.

Earlier this month, the DEA filed court documents indicating that for more than a decade it had gathered the phone records of Americans calling foreign countries, without judicial oversight, to sift through that data looking for drug suspects. That program was canceled in 2013.

Write to Devlin Barrett at devlin.barrett AT wsj.com

Comment by real journalists
2015-01-27 14:58:28

“Most transparent administration in history”

Comment by Rental Watch
2015-01-27 17:44:42

Looks like Obama is dropping his plan to tax 529 plans. Apparently included in the rage from the right was a call from Pelosi to back off.

When Pelosi thinks an idea is bad, it must be REALLY bad.

Thankfully this president has no power any more. Whew.

Comment by phony scandals
2015-01-27 18:51:29

Everyone Must Check In

Comment by phony scandals
2015-01-27 19:33:32

Over 7 Million People Who Suffered Foreclosures Could Return to Housing Market

By Douglas A. McIntyre January 27, 2015 6:33 am EST

About 7.3 million people who owned a home that went through foreclosure in the housing market collapses could potentially be back in the real estate market within eight years. (These people are known as “boomerang buyers.”) The emphasis should be on “potential,” because there is no guarantee they will return at all.

The first wave of 7.3 million homeowners who lost their home to foreclosure or short sale during the foreclosure crisis in 2015 are now past the seven-year window they conservatively need to repair their credit and qualify to buy a home. More waves of these potential boomerang buyers will be moving past that seven-year window over the next eight years corresponding to the eight years of above historically normal foreclosure activity from 2007 to 2014.

While it is hard to imagine any lending institution will give them loans again, some have been forgiven, at least financially. This group is relatively old by home ownership standards:

Read more: 7.3 Million Boomerang Buyers to Return to Housing Market, Says RealtyTrac - 24/7 Wall St. http://247wallst.com/housing/2015/01/27/over-7-million-people-who-suffered-foreclosures-could-return-to-housing-market/#ixzz3Q4zlvE00
Follow us: @247wallst on Twitter | 247wallst on Facebook

Comment by Rental Watch
2015-01-28 02:22:47

I think I’ve noted this phenomenon before on this blog. I’ve been paying close attention to the math in CA. When foreclosures began, there were approximately 20k foreclosures per month. Once 7 years has run, there will be approximately 20k borrowers per month for whom the foreclosure no longer shows up on their credit score.

CA built about 40k single family homes last year.

I’ve seen surveys that noted a high percentage of these borrowers want to buy again (65%+).

If only a small percentage of these 240k foreclosed borrowers per year come back to the housing market (20%), it will be the start of the significant development cycle that will foretell the next crash.

It is possible that this effect is delayed some. The first borrowers to lose their homes to foreclosure were the weakest hands and probably shouldn’t have purchased at all. However, once things got rolling, people started walking away who could have continued to make payments.

I expect this effect to be relatively small in 2015, but really take hold in 2016. Just in time for Obama to take credit going into the next election.


Comment by Housing Analyst
2015-01-28 07:05:04

Prepare for many more foreclosures when moratoriums expire in that state.

Comment by Professor Bear
2015-01-28 00:28:42

Opinion: Time to invest in Big Oil? Not now, maybe never
Published: Jan 28, 2015 12:03 a.m. ET
Can you cash in if gas goes to $5? Not likely, for these 8 reasons
AFP/Getty Images
Oil tankers anchored at Basra harbor, in Iraq.
By Paul B. Farrell

“Is it time to invest in energy?” teases the Wall Street Journal? After all, “as oil prices continue to sink on concerns about weak global economic growth, investors might be tempted to pick up some energy stocks on the cheap.” USA Today nods yes with this teaser: “Former oil exec: $5-a-gallon gas on the way.” Yes, a former Shell president is predicting the “joy ride starts to end later this year.” Oil may hit $100.

Risk your retirement portfolio now? Speculate? But what if gas doesn’t hit five bucks a gallon by Christmas? Can you afford the risk? Gamble? Anxiety?

The Journal’s Dan Strumpf hit the nail on the proverbial head: “Investors thinking about getting into the sector should have a stomach for volatility and an eye for the long run … but how long until a rebound takes place is a matter of fierce debate.” Bank of America predicts a bigger collapse of crude prices “to $32 before climbing to $57 a barrel by year-end.” Unfortunately, a helluva other big players disagree with Big Oil’s rosy year-end predictions:

1. The Saudi Kingdom oil billionaires warn of a permanent collapse

This is just a reminder, because you couldn’t have missed it when NBC News and every other news source reported that Saudi Prince Alwaleed, chairman of Kingdom Holdings and a nephew of former Kind Abdullah said: “Oil Will Never See $100 Again.”

Never? Yes, never, as the prince added: “I can assure you that Saudi Arabia is not using the oil price right now to impact the fracking industry in the United States … there’s an oversupply and demand is not so high.” Yes, the Saudi Kingdom gets it: The world will never see $100 oil again, and America’s high-risk fracking is no sure thing either.

2. Warning, the Rockefeller oil heirs are dumping oil stocks

So is “one of the biggest names in the history of Big Oil, the Rockefellers” selling, writes the Rolling Stone’s Tim Dickinson in “The Logic of Divestment: Why We Have to Kiss Off Big Carbon Now.” Last September Rockefeller’s heirs announced they “would be purging the portfolio of the Rockefeller Brothers Fund of ‘risky’ oil investments.” Get it? Even the heirs of the Rockefeller family billionaires see the handwriting on the wall, are dumping oil stocks.

3. America’s next generation leaders say let’s dump oil stocks

Even more interesting, this revolutionary wave is also driving America’s college students, our next generation of leaders, triggering a revolution across universities, government pension funds and mutual funds in retirement accounts. America’s rapidly moving past the era of fossil fuel: “As climate-change activists pressure public institutions to dump their fossil-fuel investments, it’s becoming increasingly clear that the right thing to do is also the smart thing to do.”

4. Philanthropists and institutions are dumping oil investments

A revolution is emerging: a “growing number of savvy, social-minded investors are waking up to this risk and moving their money out of fossil-fuel stocks. In September, as the price of oil was entering its free fall, 50 foundations announced they would be ending their investments in fossil fuels over the next five years, a deal orchestrated by Divest-Invest Philanthropy.”

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