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unclefulbert 333 posts  |  Last Activity: Dec 13, 2014 10:06 AM Member since: Mar 8, 2003
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  • All in all, the new accounts would vastly expand the amount that wealthy donors could give to party committees. Under current rules, the most one individual could donate to party committees in a given year totals about $97,200. Should the new budget agreement be signed by President Obama, that amount would skyrocket to $776,600, or $1.56 million over a two-year election cycle.

  • Reply to

    Bakken Pipeline Projected Shelved

    by trueallday Dec 12, 2014 5:40 PM
    unclefulbert unclefulbert Dec 13, 2014 9:29 AM Flag


    Original intent, so many years ago, was to have Texan refineries to clean up the glop and export by products including gasoline. The export ban is on crude oil, not gasoline which US has been exporting 15 MILLION barrels MONTHLY since 2009.

  • New budget will have FDIC, viz. you and I, on the hook.

    One of the provisions of the law says that if banks want to trade certain types of the risky, complex financial instruments known as derivatives, they must do so in a subsidiary that is not backed by federal deposit insurance.

  • Reply to

    Oil Shale Junk Bonds Skyrocket to 27% Interest

    by trueallday Dec 11, 2014 3:36 PM
    unclefulbert unclefulbert Dec 12, 2014 1:05 PM Flag


    No, that guy was right. Most of the shale oil production were indirect costs as G&A, MISC overheads, capital investment, not to mention executive perks, pays, dividends and stock buybacks.

  • Reply to

    Obstructionists are all super speed readers

    by unclefulbert Dec 12, 2014 8:55 AM
    unclefulbert unclefulbert Dec 12, 2014 12:55 PM Flag


    Back then, I said members should follow the leadership unless they have conviction on certain items.

    Now, I am just making fun of the obstructionists who were outrage then but happy to vote yes yesterday just to fly home to ask their donors for more awards in those corporate sponsored Christmas parties.

  • unclefulbert unclefulbert Dec 12, 2014 12:51 PM Flag


    How soon we forget that when Obama and McCain were set to debate, Wall Street was absolutely insolvent and soon had to bailed out by Americans from prudent retirees to burger flippers.

    Today, soon as the obstructionists are in power, they voted to roll back Dodd-Frank regulations of big banks:

    The language in the spending bill was inserted by Representative Kevin Yoder, Republican of Kansas, but he did not write it. Citigroup did. In 2013, the bank and its allies were able to corral a bipartisan vote to pass the rollback out of the House Financial Services Committee. In an analysis by The New York Times of Citigroup emails, more than 70 lines of the committee's 85-line rollback bill came from Citigroup's recommendations....

  • unclefulbert unclefulbert Dec 12, 2014 10:30 AM Flag

    0201, Thought the obstructionists are in total control in Congress. What's Pelosi or Reed got to do with passing the bill that vast majority of the Congress members had not read?

  • Reply to

    Jobs boosted consumer confidence to 2007 level

    by unclefulbert Dec 12, 2014 10:01 AM
    unclefulbert unclefulbert Dec 12, 2014 10:24 AM Flag

    0201, Right, Barry has been living inside the White House since Jan 2007. Me bad.

  • The preliminary reading on December consumer confidence from the University of Michigan came in at 93.8.

    This is the highest reading for the index since January 2007.

    Expectations were for the reading to come in at 89.5, up from the 88.8 reading in November that marked a seven-year high for the index.

    The surge in consumer confidence comes as the price of gas has fallen sharply over the last several months, which many economists argue serves as a tax cut for consumers, putting more money in pockets ahead of the holiday shopping season.

  • Highlights
    According to Bloomberg, American consumer confidence reached a seven-year high last week as job gains and plunging fuel costs propelled the economy and boosted spirits in the midst of the holiday-shopping season.

    The Bloomberg Consumer Comfort Index increased to 41.3 in the period ended Dec. 7, its highest since December 2007, from 39.8 the week before. Measures on the economy and buying climate also climbed to the strongest levels in seven years.

  • The number of quits was unchanged at 2.7 million in October, maintaining the prior month’s increase.
    The quits rate in October was 1.9 percent. The number of quits was little changed for total private and
    government. The quits level increased in retail trade and decreased in the Midwest region. (See table 4.)

    The quits level (not seasonally adjusted) increased over the 12 months ending in October for total
    nonfarm, total private, and government. Over the year, the number of quits increased for many
    industries, including both retail trade and health care and social assistance. The number of quits also
    increased over the year in three out of the four regions: Northeast, South, and West. (See table 10.)

  • Reply to

    Oil Shale Junk Bonds Skyrocket to 27% Interest

    by trueallday Dec 11, 2014 3:36 PM
    unclefulbert unclefulbert Dec 12, 2014 9:08 AM Flag


    This morning, a pundit on Bloomberg said oil production costs reported are meaningless. The near term costs are marginal costs. For shale, it is around $10 until the wells go dry. LOL!

    Thanks to Obama for sticking with Nat Gas, renewables and conservation policies instead of the Keystone Pipeline, coal or deep sea drilling.

  • Conservative lawmakers complained that House Republican leadership punted their latest opportunity to combat Obama's signature health care law -- which they fought to defund during the October 2013 shutdown -- and his executive overhaul of immigration and deportation rules.

    "We've seen the same pattern ... Now Obamacare is funded. Now Obama's executive amnesty is funded," Rep. Steve King, R-Iowa, said on Fox News.

  • They read the $1.1 Trillion plus budget cover to cover before they got their own copies, and understood clearly on clauses like tax breaks for multinationals, continual red ink and forcing FDIC to guarantee those highly leveraged Wall Street derivative. Paid back time for their donors for putting them in one of those highly compensated public jobs inside the beltway.

  • Reply to

    No joy in being old!

    by langosta_fla Dec 11, 2014 12:05 PM
    unclefulbert unclefulbert Dec 11, 2014 1:13 PM Flag


    Being gorgeous was a priority for bed partners when you were young?

    Just imagine in another 30 years, the 50-something, skinny or heavyset lady, would seem gorgeous waking up with.

    Here is a sun city article:
    Mrs. Rosenberg hires a maid with a head of beautiful blonde hair.

    One hot afternoon, the girl pulls off the hair and says, "I wear a wig, because I was born totally hairless. Not a hair on my body, not even down there.

    That night, Mrs. Rosenberg tells her husband.

    He says, "I've never seen anything like that. Please tomorrow, ask her to go into the bedroom and show you. I want to hide in the closet so I can have a look."

    The next day, Mrs. Rosenberg asks the girl, the two of them go into the bedroom, and the girl strips and shows her.

    Then the girl says, "I've never seen one with hair on it. Can I see yours?"
    So Mrs. Rosenberg pulls off her clothes and shows her.

    That night, Mrs. Rosenberg says to her husband, "I hope you're satisfied, because I was pretty embarrassed when that girl asked to see mine."

    Her husband says, "You think you were embarrassed...I had the four guys I play poker with in the closet with me."

  • Cyber-Security Act, GOP vs Democrate version

    FBI: Sony hack would have penetrated 90% of all companies

    An official with the FBI testified in front of a Senate committee that the malware used during the hacking incident at Sony Pictures (NYSE:SNE) would have sailed past 90% of the cybersecurity systems in the private industry.

    by unclefulbert • Jun 7, 2013 10:43 AM Remove

    The Republican members of the U.S. Senate on Thursday and Friday blocked the passage of President Barack Obama's priority cyber legislation, the Cybersecurity Act of 2012. A law enforcement source in Washington, D.C., told the Law Enforcement Examiner that there was no formal vote because of several disputes over the amount of power to be given to the Executive Branch over businesses and non-government organizations.

    The wide-reaching legislation, if it had passed, would have given government law enforcement and security agencies power to make decisions regarding the digital defense of critical infrastructure companies against cyber attacks. The Republican senators claimed they were uneasy about giving Washington even more power over the private sector.

    "Many corporate security directors believe their own businesses are better able to protect themselves from cyber attacks. If the government wishes to assist, the Obama administration can offer grant money to upgrade cybersecurity programs," said Thomas Whelan, a former corporate security director now a business consultant.

  • unclefulbert unclefulbert Dec 11, 2014 10:28 AM Flag


    Salary and benefits have already gone up the roof for technical jobs in the Bay Area. UE rate for college grads, that include those fine art degrees from University of Phonies, was 3.2% in Nov and has been between 2.9% to 3.4% over the past year. Even those with some or trade schools, UE was 4.9% in Nov.

    Problem is in the population without HS degrees and unwilling/unable to train for available jobs.

  • unclefulbert by unclefulbert Dec 11, 2014 9:30 AM Flag

    January 2, 2009

    DOE to Resume Filling Strategic Petroleum Reserve: Oil Acquisition Slated for 2009

    WASHINGTON, DC -- The U.S. Department of Energy today announced that it plans to take advantage of the recent large decline in crude oil prices, and has issued a solicitation to purchase approximately 12 million barrels of crude oil for the nation's Strategic Petroleum Reserve (SPR) to replenish SPR supplies sold following hurricanes Katrina and Rita in 2005.

    In addition, DOE is also moving forward with three other SPR acquisition and/or fill activities in order to fill the SPR as Congress directed in the 2005 Energy Policy Act (EPAct): refiner repayments of SPR emergency oil releases following Hurricanes Gustav and Ike; the delivery of deferred royalty-in-kind (RIK) oil; and the solicitation of new RIK deliveries in the spring of 2009.

    un 23, 2011 12:54pm

    ABC News’ Mary Bruce reports:

    With the demand for gas expected to rise in the upcoming summer driving season, President Obama made the surprise announcement today that his is releasing 30 million barrels from the U.S. Strategic Petroleum Reserve into the global oil markets over the next month.

    The decision is “due to the major supply disruptions in Libya and other countries and the resulting tightness of the market and the effect that that is having on economic growth both here and abroad. The overriding purpose of our effort is to increase supply to counter any shortfall and meet this typical increase in oil demand over the summer. We are heading into a period in which demand for oil tends to be at its highest,” a senior administration official explained.

  • Initial Jobless Claims: -3K to 294K vs. 297K consensus.

    Initial jobless claims fell 17,000 in the November 29 week to a roughly as expected 297,000. But the prior week's spike was still elevating the 4-week average which rose 4,750 to a 299,000 level that is trending a very large 20,000 above the month ago trend. The November 22 week also was a tough week for continuing claims which are reported with a 1-week lag. Continuing claims in the week rose 39,000 to 2.362 million with the 4-week average up 1,000 to 2.355 million. But here the 4-week average was down 20,000 from the month-ago trend.

  • Bonus cut for Johnson Controls CEO due to ethics violation

    Johnson Controls (NYSE:JCI) cut the bonus of CEO Alex Molinaroli by 20% due to a violation of the company's ethics policy.
    Molinaroli failed to disclose an extramarital affair with a paid company consultant.

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