Ha! That's like describing the entire market right now!! Maybe we should just put all of our money in precious metals....
I heard somewhere that the fine is based on how many barrels are spilled. Dr. Ira Leifer believes that the spill is far worse than the 5,000 barrels a day that is estimated by BP to be spilling. There may be as mush as 100k barrels a day spilling into the Gulf (BP well may be spewing 100,000 barrels a day, scientist says | McClatchy) Today, the giant plume of oil has been confirmed and it's killing the underwater food chain.
BP is going to have to cut its dividend and the stock market may crash is October based on the poor job reports.
I think with DP you have about the same odds of putting all your money on red and spinning the wheel. You may win and you may not. It's a gamble.
Good article by Art Laffer "Tax Hikes and the 2011 Economic Collapse". Laffer was an economic adviser to President Reagan.
Income this year has been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.
http://online.wsj.com/article/SB10001424052748704113504575264513748386610.htmlOn or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero.
Hmmm, if really true to what's happening a month...I don't have that faith in the gov't to make BP really pay what the disaster costs though...
They did dip below 30 the other day on the stock (29.20)....like playing roulette...how low will they go? Still no signs of death knolls for the company, but its almost like supporting Communism now to publicly admit to owning the stock....I was non-plussed by the CEO's lack of taking accountability for his own company in front of the senate investigation committee.
Maybe I'll just take my money and buy bottled water and such to resell when we see hyper-inflation.
found this re-print:
Where Is BP Headed: $70 or $0? by: Joseph Shaefer June 13, 2010
PennyStockHaven: Best Penny Stocks | Small Cap Stock Alerts | Free Penny Stocks Newsletter
Anyone see Glen Beck on Monday night? Glen was going crazy with too many facts. Some of the highlights:
THe Apollo Alliance wrote the Stimulus Bill and the Cap and Trade Bill. The Apollo Alliance was co founded by Jeff Jones an ex-member of the Weather Underground terrorist group.
John Podesta was co founder of Center for American Progess and the Apollo Alliance. John Podesta selected Obama's transition team, picked his senior white house staff, found his cabinet members etc.
John and Tony Podesta own Podesta group a lobbying firm. Tony Podesta and their lobbying company The Podesta Group work for BP and for NBC, which is owned by GE. NBC Universal, which is owned by GE, which owns the Smart Grid technology that CA just passed a law setting it in place.
As part of the Stimulus Bill the US loaned 2 billion dollars to Petrobras. George Soros has a $2 billion investment in them.
George Soros funds the Center for American Progress.
Glen Beck pulls out some very interesting facts that seem to somehow get buried otherwise.
Personally, I suspect that Obama is trying to bankrupt BP or at least drive them out of the USA. If he is successful in lifting the $75 million liability on the oil industry (he will be), few companies would want to drill here because the risk and liability will be too great. That satisfies his agenda.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." -- Benjamin Franklin
One thing that I didn't realize was the US still has the largest "declared" gold reserves...can't find a good ref that doesn't require you to register, so apologize for lack of URL....
Exciting times we're in...
@Bogart I don't think any of us really want to know the extent of the corruption...it would probably drive us bonkers...