AllupInyourBiz

For the first time since 2004, the DJIA has slipped below 10,000. As of mid-day today, it has slid almost 5 points. In the wake of the bailout bill being passed by the house (then signed by Dubya), the media once again, is silent, regarding any correlation that may exist between the promised renewed trust in the credit market, and the direction of the DJIA, today. If this is what renewed trust in the credit market looks like, we are in big trouble. The most infuriating thing, as a voter, is that the elected representatives blatantly acted against the will of their constituency, in this case. If the bill were of lesser magnitude, it probably would not be so aggravating. But this legislation will undoubtedly have repercussions for decades to come. If you are a voter, make sure to hold your reps accountable for their actions next month when you are in the cast your ballot. When representatives fail to do as their title suggests, and represent, they are not doing their job, and need to be replaced.

Today, Barack Obama announced his dumbest idea yet, regarding the oil debacle. According the the NY Times, “Obama, who as recently as last month argued against tapping into the petroleum reserve located in caverns in Texas and Louisiana, proposed that the government sell 70 million barrels of oil from its stockpiles and said that releases from the reserve in the past have lowered gas prices within two weeks.” Flip flopping aside, this plan preys on the ignorant. Obama, by using big numbers, like 70 million, deceives those who have no concept of how much the US consumes, into thinking that his plan will actually put a dent in the current problem. According to the US Energy Information Administration, the US Consumes over 20 million barrels per day. In case math is difficult for you, Obama’s proposal would sell roughly 3 and a half days worth of oil from the reserves. Yeah man, that will totally solve the problem.

Another part of Obama’s plan is to increase domestic production by allowing off-shore drilling (something that he was also opposed to, a few weeks ago). Why this wont work either: The US currently produces less than half of what it consumes per day, in crude oil. It does not take a brainiac to figure out that even if every current drilling ban were lifted in the US, It would be impossible to double the current production. Would anyone want to live in a place where oil exploration trumps all, anyway? In my opinion Obama’s plan is to continue polishing the brass on the Titanic. Even a realistic plan (..not likely to exist) to become independent from foreign oil, would only be prolonging the inevitable. How hard is it to realize that oil production, regardless of the source, is not sustainable? Does the federal government not read the numbers that they publish? Am I taking crazy pills?

It isn’t about production, or consumption of crude oil. It is about alternative fuels. Must… focus… on oil alternatives. Even though Obama’s plan is pathetic, it was refreshing to read about an bonafide issue, today. All of the rhetoric and finger pointing about who is campaining dirtier is so tiresome.

Bill Clinton told ABC in an exclusive interview, that he regrets some of the comments he made regarding Obama’s campaign. Clinton maintained that he is not a racist, in a statement strikingly similar to some statements that he has made in past. He is quoted as saying “I am not a racist.” He has also been quoted as saying “I did not have sexual relations” and “I did not inhale.” More important than the veracity of Bill’s statements, is the question of: who really cares, at this point? It is pretty clear that Hillary is out of the presidential picture, which means that Bill is out of the picture as a back-seat president. Why is he still getting press time?

In recent statements by Bam’s group and Hillary’s group, it is becoming apparent that the Obama ticket will more than likely, not feature Hillary as his running mate. Hillary’s camp has stated that they are interpreting early indications of Obama’s consideration of Hillary as a VP, as more of a courtesy than anything substantive. It is also noted that the Obama camp has not requested Hillary’s written documentation to be vetted, as part of the selection process, that is apparently occurring with other possible VP candidates.

The NY Times reports that Obama’s advisers stated that “a central message of his campaign — that he would represent a break from the way politics are conducted in Washington — would be tarnished by the simple act of linking himself to the family that has dominated Democratic politics since Bill Clinton won the presidency in 1992.” In my opinion that is as strong of a reason as any to count Hillary out.