Posted on 12/07/2014 8:02:25 AM PST by expat_panama
Soap box time.
Even as we speak the hired help in Washington are working out how to deal with the fact that the current budget continuing resolution expires this Thursday. We got rumors galore on what they're coming up with but let's face it-- this is just not their strong point. We're in a situation where the hired help is going to need our intensive supervision. I know it's a lot of work to keep 'em in line but it's what we do.
We can google here to find your congress contact info and I found this site good for senators and this one for my house member. Congress has been hearing how the loony press wants everyone to agree w/ the loopy left on more tax'n'spending. It's our job to tell 'em we need:
- spending cuts on 'human recourses' (which gets most spending),
- personal and corporate tax cuts on both incomes and capital gains,
- borrowing limited by congress --no more 'blank checks'.
Let's remind congress:
The constitution says congress decides how much to tax and how much to spend and president is required to either comply or get nothing. If the president chooses a government shutdown then so be it. We can wait for January 6, 2015 and let the 114th congress override his veto. You must neither vote for business as usual nor even vote to restrict debate and allow others to conduct business as usual.
There simply is no more money to be spent. The BLS, the BEA, the Census Br, and the Federal Reserve have the facts and the facts speak for themselves:
- that 12 million people lost their jobs w/ the 110th congress--
- 4 million more went w/ the 111th bringing the total to 16 million job losses that have not yet been replaced,
- of those that did keep their jobs, over 3 million were demoted from full to part time work,
- the median family income has been slashed 9%,
- real per capita wealth has fallen.
The money is simply no longer there.
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btw, the current state of investments is fine; stocks at all time highs and precious metals continues to stabilize its 3-week base. For now.
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This is the thread where folks swap ideas on savings and investment --here's a list of popular investing links that freepers have posted here and tomorrow morning we'll go on with our--
Open invitation continues always for idea-input for the thread, this being a joint effort works well. Keywords: financial, WallStreet, stockmarket, economy. |
U.S. Energy Boom’s Other Winner: Utilities
By Rebecca Smith
Dec. 12, 2014
New or expanding manufacturing plants tied to the U.S. energy boom are increasing demand for electricity, reversing years of stagnant power use in the country, utility executives say.
Leo Denault, chief executive of New Orleans-based Entergy Corp. , said his company is witnessing “a renaissance in the industrial South” as heavy manufacturing returns to take advantage of abundant U.S. fuel supplies that are bringing down prices for natural gas and electricity.
For example, Big River Steel broke ground in September on a $1.3 billion steel mill in Osceola, Ark., that will melt scrap metal and make 1.6 million tons a year of flat-rolled steel using a massive electric furnace. The inexpensive electricity produced by Entergy’s Arkansas utility helped entice the company to locate on the Mississippi River site.
Entergy’s utilities serve Texas, Louisiana and Mississippi, in addition to Arkansas. Industrial demand for electricity jumped 5.3% from a year earlier during the company’s latest quarter, compared to a decline of 0.2% in residential sales and a slight 0.9% increase in commercial and government sales.
Growing demand for power isn’t limited to the Gulf Coast. American Electric Power Co. , which owns utilities from Texas to Michigan, including several in Rust Belt areas, said eight of 10 industrial sectors it serves consumed more electricity in the third quarter than a year earlier.
snip
Mr. Akin said industrial spending leads to job creation and new-household formation, both of which stimulate power demand. He expects commercial and residential usage to grow too, though AEP hasn’t had a comparable uptick in electricity sales in those sectors yet. Because companies buy electricity in bulk, profit margins on industrial sales are roughly a third the size of margins on sales to residential customers.
snip
Yes, I should keep the big picture in mind! We have about 15 years til retirement.
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