Skip to comments.Unilateral Disarmament ( Steve Forbes )
Posted on 06/02/2008 6:26:06 AM PDT by kellynla
Has the Federal Reserve run out of bullets? that implication could be drawn from the recently released minutes of the Fed's last Open Market Committee meeting, during which the federal funds rate was cut from 2.25% to 2%. The Fed hinted that no more rate cuts are in store and that the economic horizon is becoming cloudier. (The reason our central bank can't reduce interest rates further is that the inflation picture is getting uglier.) Stocks tanked on this news. However, the Fed has yet to use its most effective artillery: strengthening the value of the U.S. dollar.
(Excerpt) Read more at forbes.com ...
If you as a person killed a migratory bird, you are in serious trouble. The fines are steep.
But the real problem with windmills is that their power costs way more than other sources, and is so erratic that it causes more coal and natural gas to be burned than if not used.
If oil killed that many birds in the same time frame oil would be BANNED.
Who was standing around counting all those killings?
Anyone remember STAGFLATION?
It is where you have a stagnant economy yet high inflation.
Last time it happened we had gas lines, high gas prices and mortgage interest rates at 18%
Yeah- remember all the money and effort to clean off a few thousand sea birds after the Valdez incident ? The law suits continued for years.
A catastrophe for the economic health of this country.
Ben-Ben printing more money hasn't helped neither as well as continued Congressional deficit spending, lack of tax cuts to the average American, and the reduction of the sizer of the federal government.
We need more nukes to come on line...roughly double the amount scheduled by 2020.
Excellent article. Forbes hits the nail on the head. My vote for Forbes in the 2000 primary is one of the few I don’t regret.
Former Federal Reserve Chairman Paul Volcker, who headed our central bank from 1979--87, warned months ago that what is happening reminds him of the early 1970s, when serious inflation first hit the U.S. and global economies . . .
I remember the 1970's. Nixon was forced to move on inflation and froze the salaries of Americans by Executive Order. He got away with doing so because, at that time, he was very popular. The only way to move up economically was to move on to a new job. Thousands did so willingly. Others changed careers or went back to college. Those that did nothing at all were stuck marching in place.
Click on my FR handle if you are so inclined. I posted a report on housing prices over the weekend.
You are correct, depression can be avoided if the nation launches an energy independence program now. Do you see the three Presidential contenders making this a core issue? I don’t. Our real issue is that we are a service economy. There is no room for wage inflation to keep up with commodities inflation. The nation must innovate and give the global consumer what it wants and that is cheaper energy and agriculture.
Rates must go higher to strengthen the dollar and I expect the FED will act in August, raising rates to 3.25% and steeper moves in the fall back to the 5% range in early 2009.
I hope you are correct on the rate moves. A lot of people are staying home this summer because of fuel and food prices.
Same deal with solar.
Visualize a town that has every house equipped with solar panels on the roof, supplying 50% of the houses' daytime electricity.
Now visualize being the electric company that sees their load jump 80% every time dark clouds pass over the town. No power company would want to see such potential sudden load variations
I made the decision three years ago that I could live with a paid-off, ten-year-old Chevy instead of something new.
When you have no car payments, the price of gas becomes less of an issue.
I’m driving to Florida on Wednesday morning.
I figure I’ll spend about $400 on gas for the trip.
I hear ya!!1 My last truck payment (A 2003 Ranger) is this month...just in time to pay Big Oil and the speculators all they want. Have a safe trip!!
Enjoy your new-found “wealth”.
I don’t know where the money’s going, but it isn’t to GM ;)
Hard times in the land of plenty.
i dont believe a word of it. 130,000 birds killed my a@@! I lived in Palm Springs for seven year right near the windmill farms and go back there regularly. You never heard squat about dead birds, and from what I could tell, the birds were generally smart enough to stay away from the windmills.
Also there are two basic types of windmills. The smaller ones with shorter, faster spinning blades which could kill birds easily, and the larger mills with large, long, slow turning blades that would be easily seen and avoided by any bird that was not blind—and last I heard, raptors had pretty good eyesight.
this is the sort of logic that one would expect from someone who boasts about owning a Ranger.
They are simple, relatively small (OK mpg) and more reliable than the larger trucks to some degree.