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Hiding Bear

B4 The Bell Wednesday Septemeber 8

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This Idiot Nussel who is trying to put a pretty face on the deficit saying Hell it's NOT structural and not even in the top 10 and we will return to fiscal prudence is lying thru his teeth with a straight face-this after a bemused greenscum says no one gets a pension past 2011-LOL!

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Testimony of Chairman Alan Greenspan

Economic outlook

Before the Committee on the Budget, U.S. House of Representatives

September 8, 2004

http://www.federalreserve.gov/BoardDocs/Te...082/default.htm

Even Al is in the oil biz now!Got loads,higher extraction rates yada,yada,yada!

 

Before you know it,they'll find a gigabarrel reserve under the Eccles building :lol:

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Testimony of Chairman Alan Greenspan

Economic outlook

Before the Committee on the Budget, U.S. House of Representatives

September 8, 2004

http://www.federalreserve.gov/BoardDocs/Te...082/default.htm

Even Al is in the oil biz now!Got loads,higher extraction rates yada,yada,yada!

 

Before you know it,they'll find a gigabarrel reserve under the Eccles building :lol:

Apparently even after the takeover of an OPEC country (Iraq) and finding oil reserves were grossly exaggerated, AG stills believes what OPEC said:

 

During the past decade, despite more than 250 billion barrels of oil extracted worldwide, net proved reserves rose well in excess of 100 billion barrels. That is, gross additions to reserves have significantly exceeded the extraction of oil the reserves replaced. Indeed, in fields where, two decades ago, roughly one-third of the oil in place ultimately could be extracted, almost half appears to be recoverable today. Gains in proved reserves have been concentrated among OPEC members, though proved reserves in the United States, essentially offshore, rose 3-1/2 percent during the past five years. The uptrend in proved reserves is likely to continue at least for awhile.

 

:blink: :blink: :blink:

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Gains in proved reserves have been concentrated among OPEC members, though proved reserves in the United States, essentially offshore, rose 3-1/2 percent during the past five years. The uptrend in proved reserves is likely to continue at least for awhile.

 

:blink: :blink: :blink:

I don't think that the guy has ever heard of Shell(RD).

 

Shell is a major oil co. that just lost 20% of its reserves--well not quite--they were fictitious paper reserves.We know that they were fictitious because no other oil major has stood up and said-"We found 'em" :rolleyes:

 

And how long before another major comes with the same story--telling porkies to keep the stock price up!

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auto sales down hard, empolyment nonexistant, housing bubble teetering, deficits wtotally out of control, excuse me statist magoo HTF are we past the soft patch? Well, I guess I do know, we have passed the soft patch and have now entered quicksand. Further statist magoo, you are responsible via your insane and rephrensible monetary policies.

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auto sales down hard, empolyment nonexistant, housing bubble teetering, deficits wtotally out of control, excuse me statist magoo HTF are we past the soft patch? Well, I guess I do know, we have passed the soft patch and have now entered quicksand. Further statist magoo, you are responsible via your insane and rephrensible monetary policies.

Based on the reaction of the broads and the buck to his "economy has regained some traction" I have a feeling that da boyz in da pitz don't believe him. The buck took an amazing dive and the broads are selling off.

 

We'll see.

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Gains in proved reserves have been concentrated among OPEC members, though proved reserves in the United States, essentially offshore, rose 3-1/2 percent during the past five years. The uptrend in proved reserves is likely to continue at least for awhile.

:blink:  :blink:  :blink:

I don't think that the guy has ever heard of Shell(RD).

 

Shell is a major oil co. that just lost 20% of its reserves--well not quite--they were fictitious paper reserves.We know that they were fictitious because no other oil major has stood up and said-"We found 'em" :rolleyes:

Natural gas pros have observed that Greenspan is totally unqualified to talk about energy -- he's as clueless about the subject as politicians are about medical care.

 

For Greenspan to get taken in by the unaudited OPEC oil reserves is par for the course.

 

But then, Greenspan's own institution hasn't been properly audited either ... <_<

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while at the gym watching AG speak, it struck me that the 25% LT cap gains rate (CA state & Fed) may be the lowest ill ever see from this date forward. while im all for tax cuts, the dude that pointed out that you cant just focus on cutting taxes made a valid point. it is interesting, and has been for some time, that the debt is not the focus, its the debt service - so if you can debt-service, the debt itself is almost irrelevant.

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auto sales down hard, empolyment nonexistant, housing bubble teetering, deficits wtotally out of control,?  excuse me statist magoo HTF are we past the soft patch?

Recession may be on horizon, report warns

 

The Anderson Forecast, a nationally respected economic prognosis, warns that sluggishness in corporate and consumer spending, coupled with an overheated housing market, could throw the nation into a recession by 2006.

 

"On many aspects of the present economy, Washington and (Wall) Street just don't get it," said Michael Bazdarich, senior economist at the UCLA forecast.

 

"As a best case, look for the economy's current slow patch to be sustained indefinitely, with no resumption of the dynamic growth the Street is looking for. Alternatively, be prepared for a consumer-led pullback to induce a recession sometime in the next two years." :blink:

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If the Demopublican side of the coin had any f!#*?@ sense and/or balls,

their response to The Dick's("I had other priorities from 1965-1973")little

innuendo would have been along the lines of...........

 

'We have a lot of respect for hands-on experience. And who can speak

with greater personal experience about incompetence at fulfilling the basic

responsibility of preventing a massive terrorist attack on the very country

one is supposed to be a leader of than....The Dick-and his goofy sidekick.'

 

Demopublicans now carrying 'Stupid Party' nametag, Republicrats grabbing

'Evil Party' honors-can, of course, be interchanged at will.

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