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Showing posts with the label Bloomberg News

First the crashing of the economy, now oil what’s next the rapture, not hardly

In an article titled “ Another oil crash is coming, and there may be no recovery ” written by Tom Randall for Bloomberg News, it is reported that “ In the next two years, Tesla and Chevy plan to start selling electric cars with a range of more than 200 miles priced in the $30,000 range. Ford is investing billions, Volkswagen is investing billions, and Nissan and BMW are investing billions. Nearly every major  car maker —as well as Apple and Google—is working on the next generation of plug-in cars.  This is a problem for oil markets. OPEC still contends that electric vehicles will make up just 1 percent of global car sales in 2040. Exxon's forecast is similarly dismissive. The oil price crash that started in 2014 was caused by a glut of unwanted oil, as producers started cranking out about 2 million barrels a day more than the market supported. Nobody saw it coming, despite the massively expanding oil fields across North America. The question is: How soon could electric v...

Journalism Laziness the new catch phrase for media failure

In an article written by Eric Lach for TPM MUCKRAKER titled “ Obamacare Foe Sneaks Back Into Media As Just A Regular Guy” , Columbia Journalism Review’s Ryan Chittum coined a phrase that I believe defines many in America, even though it greatly fits our once accomplished reporters, journalists and commentators.  The article was about a man who appeared all over the media circuit claiming to only be just a regular businessman complaining about how Obamacare was damaging his business when in fact he had ties with the very organization “the Federation of Independent Businesses (NFIB), a conservative, pro-business group that, among other things, was a ferocious opponent of Obamacare. (The NFIB was part of the multi-state lawsuit that challenged the constitutionality of the health care law.)”.  In other words the cornerstone of real journalism, the need for full disclosure, was ignored by those trusted to bring us all the news without bias.  They failed and failed mightily wh...

Daley exit less about strategy more about frustration

Of all of the articles and news stories I have heard about Bill Daley’s departure as Chief of Staff, none puts it in a more clearer light than the article written by Bloomberg’s Mike Dorning titled Daley Departs as Obama Shifts Strategy to Confronting Congress in it he outlines the rise and fall of this appointment and makes quite a compelling case of strategy change.   Personally, I believe that it may have played a role but the largest role was played by frustration. As the article reports “Obama turned to Daley, a former JPMorgan Chase & Co. executive and U.S. commerce secretary, in January 2011 as the president sought to improve relations with U.S. businesses and congressional Republicans following the 2010 midterm elections in which Democrats lost their House majority and saw their margin in the Senate shrink.”   I believe that Daley had no idea just how strong the hatred for this president was and was taken aback when he experienced it first-hand.   It was prob...