Thursday, November 20, 2008

Today's Good News and Bad News: Pelosi, Waxman, Foreclosure suspension and...oil crisis.

“I'd put my money on solar energy… I hope we don't have to wait til oil and coal run out before we tackle that.”
—Thomas Edison, in conversation with Henry Ford and Harvey Firestone, March 1931

There are crazy people out there watching too much Heroes...

On Truthout web site (, I just found out a nice piece from NY Times' Bob Herbert articulating most of the points I have made here before in a clear and concise way. It is even funny at times, humor not being one of Herbert's strong suit, this was surprising and more than welcome.

But, there again, a lot of people are calling for Armageddon, the Apocalypse, the End of Days, all of it. "Bring it on!", they chant, as Bush have done before with the consequence we know.

"let a new world be born!!!" an Anonymous guy said. A lot of people are hoping for a Mad Max rerun, with Tina Turner in the Thunderdome for those night slow in slaughters, I guess. I'm sure they are sewing their matting and ripped leather Warrior outfit as we speak. And most ridiculous of all, I've read comments of people blaming Obama for all the bailouts and the lack of regulations enforcement!

But on our side of reality, we'll try to prevent all that - nihilism was never sexy to me - and, Damn!, who do we find fighting by our side with a woozy of a whip in her hand? Pelosi! Finally, she's alive! I am so happy that she is pushing this not as a simple "Here's the money, thank you and remember me at re-election time" kind of issue but as a way for the auto exec to show more on the table than their million dollar jet. Great work, Nancy!

"They need a plan, or no money". That's the minimum Paulson could have said.
See HuffPost for more:

So that was one good news. Henry Waxman getting John Dingell's head was another. From what I understood, Dingell was the go-to man on the hill of the American car industry. What surprised me was the fact that the union backers were against Waxman. I AM politically naive but it seems to me that union members and "Rust Belt Democrats" would understand that things are changing even faster than they know and a guy that will renew the sector with a new cash plan and a push toward better technology should be welcome... But, that's me, and what do I know...
For more, click here.
Other good news: Cheney on his way to a Texas prison! Ha! If only... But it gave us hope and the audacity to dream again (since some of Obama's surprises gave us cold sweat and shudders).

Holiday breaks for foreclosure! Ain't that spiffy and just plain nice! Told you before, in this recession, you can't have a home and you won't have a job. But for now, you can eat turkey and pray in that $300,000 McMansion that's worth $1,99 until January 9th. After that you can go knock on the doors of Bush mansion and ask if you can stay awhile or join the libs and "Fight the Power!".

Now for the real bad news: The web site is called the Oil Drum. The subject, the future (Damn! Here comes Mad Max again...). The conclusions, you don't want to know...

Actually, most of it was kind of predictable (China and India as the next superpowers - Duh! The end of America supremacy - Duh! Those two countries' population growth and economic restructuring putting enormous pressure on the Earth's resources - Double Duh!)

But Brazil and Russia are also mention as the wave of the future!:

  • "The whole international system — as constructed following WWII — will be revolutionized. Not only will new players — Brazil, Russia, India and China— have a seat at the international high table, they will bring new stakes and rules of the game.
  • The unprecedented transfer of wealth roughly from West to East now under way will continue for the foreseeable future.
  • Unprecedented economic growth, coupled with 1.5 billion more people, will put pressure on resources — particularly energy, food, and water — raising the specter of scarcities emerging as demand outstrips supply.
  • The potential for conflict will increase owing partly to political turbulence in parts of the greater Middle East."

I know HuffPost reported this, but why I like Oil Drum analysis is because it is seen through the lens of the oil crisis. Everybody's happy now because of lower gas prices, but these, according to Oil Drum, would be the calm before the storm, or rather a plateau in a sharply declining economy.

For the complete essay of Gail E. Tverberg of Oil Drum, click here.
Or just go to the next post for an excerpt.

By the way, Mad Max clones: your guy drives a Ford...

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