THE PM CHRONICLE: April 2008

Friday, April 25, 2008

Food Crisis Starts Eclipsing Climate Change Worries

The campaign against climate change could be set back by the global food crisis, as foreign populations turn against measures to use foodstuffs as substitutes for fossil fuels. [READ MORE]

Thursday, April 24, 2008

Why a Weaker Dollar Means Higher Oil Prices

The dollar's tailspin since the Federal Reserve began to cut interest rates is giving an updraft to already bullish crude-oil futures, and analysts say that relationship will continue driving oil and the currency both in their current directions.

"The much larger structural story [of the oil price rise] is demand from emerging markets -- in particular, China -- but in recent months, the dollar has depreciated sharply," which has in turn pushed up crude to all-time highs, said David Powell, senior foreign exchange analyst at IDEAglobal.

Oil is produced in dozens of countries around the world, but its standard trading unit is in dollars per barrel.

"As the dollar declines in value, so does the price of oil in non-dollar terms," said Michael Woolfolk, senior currency strategist at the Bank of New York Mellon. "Consequently, foreigners bid up the price of oil and other dollar-denominated commodities. [READ MORE]

Tuesday, April 08, 2008

Catching Wild Pigs

There was a Chemistry professor in a large college that had some
exchange students in the class. One day while the class was in the lab
the Prof noticed one young man (exchange student) who kept rubbing his
back, and stretching as if his back hurt.

The professor asked the young man what was the matter. The student
told him he had a bullet lodged in his back. He had been shot while
fighting communists in his native country who were trying to overthrow
his country's government and install a new communist government.

In the midst of his story he looked at the professor and asked a
strange question. He asked, 'Do you know how to catch wild pigs?'

The professor thought it was a joke and asked for the punch line.
The young man said this was no joke. 'You catch wild pigs by finding a
suitable place in the woods and putting corn on the ground. The pigs find
it and begin to come everyday to eat the free corn. When they are used to
coming every day, you put a fence down one side of the place where they
are used to coming. When they get used to the fence, they begin to eat
the corn again and you put up another side of the fence. They get used to
that and start to eat again. You continue until you have all four sides
of the fence up with a gate in The last side. The pigs, who are used to
the free corn, start to come through the gate to eat, you slam the gate
on them and catch the whole herd.

Suddenly the wild pigs have lost their freedom. They run around and
around inside the fence, but they are caught. Soon they go back to eating
the free corn. They are so used to it that they have forgotten how to
forage in the woods for themselves, so they accept their captivity.

The young man then told the professor that is exactly what he sees
happening to America . The government keeps pushing us toward
socialism and keeps spreading the free corn out in the form of
programs such as supplemental income, tax credit for unearned income,
tobacco subsidies, dairy subsidies, payments not to plant crops (CRP),
welfare, medicine, drugs, etc. while we continually lose our freedoms -
just a little at a time.

One should always remember: There is no such thing as a free Lunch!
A politician will never provide a service for you cheaper than you
can do yourself.

If you see all of this wonderful government 'help' is a
problem confronting the future of democracy in America, you might want to
send this on to your friends. If you think the free ride is essential to
your way of life then you will probably delete this email, but God help
you when the gate slams shut!

In this 'very important' election year, listen closely to what the candidates are promising you ----just maybe you will be able to tell who is about to slam the gate on America.

'A government big enough to give you everything you want, is big
enough to take away everything you have.' - Thomas Jefferson