Daily Digest 5/3 - Paul Vs. Paul, Delta To Buy Oil Refinery, How Chemicals Affect Us
- "Paul vs Paul" Ron Paul Debates Paul Krugman
- Class Warfare Is Being Used To Divide America; And It Is Working
- Is Constant Economic Growth Possible?
- Monetary Policy, The Real Economy, And Asset Prices: Where Are We?
- Delta To Buy Oil Refinery
- Energy Transfer to Buy Sunoco for $5.3 Billion
- How Chemicals Affect Us
"Paul vs Paul" Ron Paul Debates Paul Krugman (Kelvinator)
Nobel-prize winning economist Paul Krugman and Republican presidential candidate Ron Paul talk about inflation, monetary policy and the role of the Federal Reserve.
Our country is drowning in debt, millions of our jobs are being shipped overseas, the middle class is shrinking at an astounding pace, and the Federal Reserve continues to destroy our financial system.
Getting angry at the wealthy or the poor is not going to fix those problems.
Is Constant Economic Growth Possible? (James S.)
Let’s think about this a little further. We live on an earth with a fixed surface area. If the population of the earth keeps growing, at some point people would fill up every square foot (or square meter) of land space. Clearly that can’t happen. Also, the resources we pull from the ground aren’t unlimited–at some point the amount we pull from the ground starts to deplete. We know that at some point, perhaps far in the future, economic growth must stop.
The question is really where we are now, relative to the hard limits that we know must exist. Let’s think about the situation.
Eventually, there may come a time when the profits of the other 35 businesses shrink, or are no longer enough to obtain credit to carry the unprofitable business units; this is when the firm will collapse. In a real sense, this is exactly the point that has been reached in Greece, and now fast approaches for Spain and Portugal: in all these countries, the productive classes are no longer big or numerous enough to carry or support the unproductive. Current fiscal imbalances guarantee that Greece-like collapse and insolvency will happen during the 21st century in the United States, too, if the bond market does not implode first, bring down the economy with it.
Delta To Buy Oil Refinery (logansrun)
ConocoPhillips shuttered the Trainer refinery in the fall. Refineries throughout the Northeast have been suffering because they are old and cannot process the cheaper, heavier types of oil that are increasingly in supply from Canada's oil sands, Saudi Arabia, Venezuela and elsewhere.
Earlier this month, Penn Virginia Resource Partners agreed to buy the energy pipeline company Chief Gathering for $1 billion to increase its foothold in the booming shale natural gas sector. In February, the private equity firm Blackstone Group announced a $2 billion investment in Cheniere Energy Partners to help build a facility in Louisiana where natural gas will be compressed, chilled and shipped to Europe, Asia and other foreign markets.
How Chemicals Affect Us (VeganD)
Last month, the Endocrine Society, the leading association of hormone experts, scolded the Food and Drug Administration for its failure to ban bisphenol-A, a common endocrine disruptor known as BPA, from food packaging. Last year, eight medical organizations representing genetics, gynecology, urology and other fields made a joint call in Science magazine for tighter regulation of endocrine disruptors.
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