All Posts Tagged With: "Senator Chuck Grassley"

Night of the Rising Stars: The Good, The Strange, and The Future

If you did not know freshmen Kentucky Senator Rand Paul prior, and you attended Saturday night’s Iowa Republican Party event “Night of the Rising Stars” . . . then you certainly know him now.

I will get to Senator Paul, the evenings keynote speaker, momentarily but first let us briefly deal with the atmosphere and the purpose of the night’s event—recognizing the up and comers in the Iowa Republican Party.  The crowd of 300-400 took to their seats in the warm, ornate theatre of the Hoyt Sherman Place largely to celebrate the impressive and hard won gains by Iowa Republicans in the last election cycle.  The program included very short remarks from Senate Leader Paul McKinley, House Majority Leader Linda Upmeyer, Secretary of State Matt …


The Senate Strikes Back

Our US Senators have approved a version of the $700 Billion Bail-out Bill that provides some new features:

  • New tax breaks for businesses
  • Raising the FDIC deposit insurance limit from $100,000 to $250,000

Normally, I am all about tax breaks for businesses.  I think that is one of the best ways to stimulate growth.

And without a doubt, raising the FDIC limit will help so many… almost rich people.  Okay, pretty much just really rich people.  I don’t even know anyone that has close to the $100,000 limit in a protected bank instrument, so I’m having a hard time understanding who benefits from this.  Maybe someone like Warren Buffet or Dan Rather, but not anyone I know.  I take that back, Buffet would have that …


Congress Is Finally Back, Price Of Oil Drops Again

Crude oil dropped to $105/bbl Monday, down $1.26.  After hours the price continued to fall, as of midnight it was hanging around $102/bbl.

Since hitting it’s high at 147.27 on July 11 (that’s still less than 2 months ago), the price has fallen almost 30%.  According to most Democrats, this would only be possible if actual cheaper domestically drilled oil were available to put into the system immediately, not some years into the future.  Strange as it may seem, it looks like other factors, such as the continued growth in the public pressure on Congress to act and open up domestic drilling, may also influence prices.

Of course, you aren’t required to be an economist to be a member of Congress.  The problem appears …


We’re Losing Momentum On Oil Prices

The price of crude is hovering around $115 / bbl.  At this point, I suspect it won’t make much motion, especially not downward, until some real action is finally taken by Congress to open up drilling.  I agree with the refrain of Republicans to do “all of the above”, that is, work the alternative energy agenda while opening update domestic drilling.  The market will continue to laugh at us on the alternative energy options (by the way, we’ve had Ethanol in the US since World War I, so let’s stop acting like alternative fuels are “new”).  But as we engage with definitive action, we will continue to see the impact on commodity prices.

The sad thing is that the market is so clearly expressing it’s …


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