What's weird about this picture? If you said the blue cooler on the turret I think you would be right. In any event its a pretty awesome picture.
via
Thursday, July 17, 2008
How 'bout a cold one
What's weird about this picture? If you said the blue cooler on the turret I think you would be right. In any event its a pretty awesome picture.
via
Friday, July 11, 2008
Airline Speculators
Today the airlines are calling for increased regulation of the futures markets especially in oil and gas by asking their customers to mail some canned letter to their congressman. The letter says something about how speculation is whats causing high prices yada yada yada. This is ironic because they themselves speculate all the time. Southwest was one of the most referred to examples of a company that hedges itself well from oil prices.
Besides that people tend to forget that if I'm a speculator I have to re-sale my futures contract. Why? Because an oil futures contract is a contract with an oil supplier to receive oil produced in the future at an agreed price today. That means that by the time a contract comes due an end user has to buy it, otherwise Mr. Speculator would have to take delivery for his oil.
It really is a great tool for airlines and such to reduce the volatility in their earnings and make long term budget decisions but to blame higher prices on speculators and not increased world demand is a pretty blind view.
Lastly I was pretty surprised to see pretty much all of the major airlines on the list. I would have expected a few who were better hedged than their peers to be pushing for higher oil costs. They then could have enjoyed their oil they hedged cheap while their competitors went out of business.
Besides that people tend to forget that if I'm a speculator I have to re-sale my futures contract. Why? Because an oil futures contract is a contract with an oil supplier to receive oil produced in the future at an agreed price today. That means that by the time a contract comes due an end user has to buy it, otherwise Mr. Speculator would have to take delivery for his oil.
It really is a great tool for airlines and such to reduce the volatility in their earnings and make long term budget decisions but to blame higher prices on speculators and not increased world demand is a pretty blind view.
Lastly I was pretty surprised to see pretty much all of the major airlines on the list. I would have expected a few who were better hedged than their peers to be pushing for higher oil costs. They then could have enjoyed their oil they hedged cheap while their competitors went out of business.
Wednesday, July 2, 2008
Obama's Experience
I'm sure you all have heard about General Wesley Clark saying that McCain being shot down didn't provide him any real experience. I don't buy that in the first place, but then how about his 20 something years in the senate.
Now lets compare that to Obama: community organizer f0r about 20 years (what does that mean and is that a really a job, how do I apply) and the last four years in the senate. Ya I would say that Obama has WAY more experience.
Seriously though, community organizer. It sounds like a mafia position. Kind of like on that movie Four Brothers. Was that Chicago or Detroit?
Now lets compare that to Obama: community organizer f0r about 20 years (what does that mean and is that a really a job, how do I apply) and the last four years in the senate. Ya I would say that Obama has WAY more experience.
Seriously though, community organizer. It sounds like a mafia position. Kind of like on that movie Four Brothers. Was that Chicago or Detroit?
Sunday, June 29, 2008
DC vs Heller
There seems to be a lot of misconceptions about the second amendment Ive noticed with all this publicity about DC v Heller. While I am glad the supreme court struck down DC's absolutely idiotic law I don't think the second amendment means what they think it means.
When the constitution was written men were stilling dueling to defend their honer i.e. Aaron Burr and Alexander Hamilton. Certainly in this environment the idea of anyone telling you that you could not defend yourself in your own home was absurd.
I am not a historian but from my own perspective the 2nd amendment means exactly what it says. It grants states the right to raise armed militias. These were militias after the manner of the minutemen. What did the minutemen do? They kicked a repressive government out of their colonies.
I think this because at the time the idea of the constitution was hotly debated idea (see federalists v antifederalists). That is why they worked on it over two months in a room closed to the public. One of the biggest concerns was that of the central/federal governments power versus those retained by states. In order to alleviate these concerns (and get the needed 3/4ths majority of colonies to sign) the drafters of the constitution added the bill of rights. When you look at the list of the 10 amendments as a whole I think you can see the fear of another repressive government shining though.
One must also remember that the government cannot grant rights. It only has the power to restrict them. I believe that regardless of which century you live in the right to defend your family and your home by the most efficient means possible is not only a right but a duty.
When the constitution was written men were stilling dueling to defend their honer i.e. Aaron Burr and Alexander Hamilton. Certainly in this environment the idea of anyone telling you that you could not defend yourself in your own home was absurd.
I am not a historian but from my own perspective the 2nd amendment means exactly what it says. It grants states the right to raise armed militias. These were militias after the manner of the minutemen. What did the minutemen do? They kicked a repressive government out of their colonies.
I think this because at the time the idea of the constitution was hotly debated idea (see federalists v antifederalists). That is why they worked on it over two months in a room closed to the public. One of the biggest concerns was that of the central/federal governments power versus those retained by states. In order to alleviate these concerns (and get the needed 3/4ths majority of colonies to sign) the drafters of the constitution added the bill of rights. When you look at the list of the 10 amendments as a whole I think you can see the fear of another repressive government shining though.
One must also remember that the government cannot grant rights. It only has the power to restrict them. I believe that regardless of which century you live in the right to defend your family and your home by the most efficient means possible is not only a right but a duty.
Thursday, June 26, 2008
TJIC
Just in case you haven't checked out the link to TJIC here is a quote from his "about TJICistan"
Awesome.TJICistan is an autonomous anarchic zone landlocked inside Arlington, MA, USA.
TJICistan covers approximately 7,000 square feet of space.
TJICistan has a permanent population of one humans and two dogs.
TJICistan seceeded from Arlington, Massachusetts, and the United States on 26 December, 1995.
After extensive utility computations, the non-government of TJICistan has chosen to pay
taxesforeign aid, to all three levels of government in the adjacent territories, as the alternative of armed confrontation, while certainly exciting and entertaining, sums to a lower total level of utility over time.TJICistan is heavilly armed, with approximately 10 firearms for every adult citizen.
Peculiar Markets
Today an interesting thing happened. It seems that because the Fed did not raise rates yesterday the dollar slid. Then because the dollar slid the price of oil jumped. Next because of oils jump the stock market slid. Or at least this is what is seems to me. Could the answer be for the fed to raise rates which would increase the dollar, which would push down oil, which would push the stock market up?
Craziness. Its kind of like Dr. Egon Spengler telling us to "cross the streams" after the don't cross the streams because, "Try to imagine all life as you know it stopping instantaneously and every molecule in your body exploding at the speed of light" speech.
Craziness. Its kind of like Dr. Egon Spengler telling us to "cross the streams" after the don't cross the streams because, "Try to imagine all life as you know it stopping instantaneously and every molecule in your body exploding at the speed of light" speech.
Tulips or Oil
Coyote blog has a great explanation of why oil isn't being driven up by speculators here. Its definitely worth the time reading.
A couple of my own thoughts: Obama doesn't support off shore drilling because it will have no immediate effect. This is ironic for a couple of reasons. First isn't he touting himself as the long range visionary. Second if the democrats had been allowing us to drill off shore and in the arctic we wouldn't be in this bad of a predicament. Lastly their is nothing that will provide immediate relief. It takes time for consumption to come down or production to go up. These off shore well do take a few years to find and develop.
Next thought. People are changing the cars they purchase to more fuel efficient models. However with the average age of registered cars in America being 8 or 9 years the US auto fleet is going to take at least that much time to turn over into more efficient models.
Lastly for our own national security we ought to be increasing our domestic oil production capacity. That to me seems like a no brainer.
A couple of my own thoughts: Obama doesn't support off shore drilling because it will have no immediate effect. This is ironic for a couple of reasons. First isn't he touting himself as the long range visionary. Second if the democrats had been allowing us to drill off shore and in the arctic we wouldn't be in this bad of a predicament. Lastly their is nothing that will provide immediate relief. It takes time for consumption to come down or production to go up. These off shore well do take a few years to find and develop.
Next thought. People are changing the cars they purchase to more fuel efficient models. However with the average age of registered cars in America being 8 or 9 years the US auto fleet is going to take at least that much time to turn over into more efficient models.
Lastly for our own national security we ought to be increasing our domestic oil production capacity. That to me seems like a no brainer.
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