More and more it’s looking like Obama’s global warming and climate change “initiative” is just a legacy play. He says the right words, then does the wrong deeds.
Thursday, July 31, 2014
Posted by Lambert Strether at 6:55 am |
Back-of-the-envelope calculations the CIA processed suggest several hundred people, at least. And we don’t know where they are now.
MDs think about you the patient as unique in your need for health care. MBAs think about you the widget as a source of profit and institutional power.
This week, the US hopes to get the EU to agree to impose so-called tier three sanctions on Russia to punish them for their alleged role in the downing of MH17 and for supporting the rebels in Ukraine. That would include prohibiting investment in Russian equity and debt of Russian banks more than 90 days maturity by European citizens as well as barring EU banks from sourcing funding for them on a regulated market.
Wishful Thinking About Natural Gas: Why Fossil Fuels Can’t Solve the Problems Created by Fossil Fuels
Albert Einstein is rumored to have said that one cannot solve a problem with the same thinking that led to it. Yet this is precisely what we are now trying to do with climate change policy. The Obama administration, the Environmental Protection Agency, many environmental groups, and the oil and gas industry all tell us that the way to solve the problem created by fossil fuels is with more fossils fuels. We can do this, they claim, by using more natural gas, which is touted as a “clean” fuel — even a “green” fuel.
Like most misleading arguments, this one starts from a kernel of truth.
Posted by David Dayen at 3:00 am |
As the heir-in-waiting to the title of world’s largest economy, China finds itself in a strange position in terms of its oil consumption.
In September 2013, China became the biggest net importer of crude, beating out the U.S. for the first time. This came as no surprise, given how rapidly China’s thirst for oil has grown, although landing in top place happened a little ahead of U.S. Energy Information Agency (EIA) predictions that it would take place in 2014. However, where the U.S. has been shoring up its own internal production, China has lagged behind. Between 2011 and 2014, U.S. oil production rose by 31 percent, as opposed to China, which saw its own production increase by a little more than 5 percent over that time. This leaves China utterly dependent on oil imports, a vulnerable position to be in at a time when its economy is beginning to wobble.
At one level, a crackdown on foreclosure rescue scams and not the overarching mortgage and foreclosure fraud is like letting the arsonist who set fire to the house go while busting the guy who took five bucks off the dresser before the house started to burn. Nevertheless, these scams do represent some of the worst elements of our society, featuring the kind of people who see suffering and vulnerability and think about dollar signs. One of my first entrees into this world of foreclosure nightmares was through a friend who had fallen behind on his payments, and then paid somebody up-front money to help him secure a loan modification. That person did nothing to help and then skipped town with the cash.
So it’s good to see CFPB finally take a crack at this, in conjunction with the Federal Trade Commission and 15 states.
Posted by Yves Smith at 6:55 am |
We’ve been slowly working toward a theory of crapification and if we manage to sort it out, we might even develop a school of craopnomics. But in reality, Corporate America presumably already has that well codified but has yet to release the playbook to the great unwashed masses.
As much as I am of two minds about sharing personal anecdotes with readers, my recent experiences with the health insurer Cigna amount to several case studies in crapification in one nasty package. Moreover, since the American health care policy is to force even more Americans into the health insurance regime and call it “health care,” I thought my tale might elicit similar accounts from readers, as well as input from people who’ve worked in the insurance industry as to how much of what I am experiencing is incompetence versus design.
This article highlights another ugly feature of the current trade regime under the WTO, and how it operates to the disadvantage of the poorest in poor countries on a bedrock issue: food security.
Posted by Yves Smith at 6:55 am |
Banks and their allies have been using every opportunity possible to blame regulations for changes in their business models after the crisis, particular if they can make it sound like the broader public, as opposed to their bottom lines, is what is suffering. Normally this messaging effort stays at the background noise level, but sometimes the lobbyists succeed in getting their message treated as a story in its own right.
A recent example is a Financial Times story early this week…
The Administration wants to reclassify US firms that send production offshore as “factoryless goods” producers, meaning manufacturers.