This article appeared online at TheNewAmerican.com on Friday, December 1, 2017:
Others were more temperate.
This article was published by The McAlvany Intelligence Advisor on Friday, December 1, 2017:
At first glance, the move seems insane. Production by PdVSA is half what it was just two years ago under skilled (many U.S.-trained) executives, and now the Marxist dictator has replaced them with people who know nothing at all about how to run an oil company. Maduro said he was rooting out corruption at the company, claiming that the executives fudged the company’s production numbers in order to make the company’s dismal and declining profitability appear better than it is.
Citgo was once a jewel of the PdVSA, operating more than 5,000 gas stations in the U.S. and many refineries on the Gulf Coast specifically designed and built to refine the heavy Venezuelan oil flowing out of the world’s largest cache of crude oil reserves. The 4,000 employees, many of them working in Houston, are now in limbo, wondering how further destruction of the parent company in Venezuela will affect them.
For five of those top executives, all American citizens, the future is particularly dim. The Trump administration, which has repeatedly excoriated the Marxist dictator, is now attempting to have them moved from their present incarceration into the American embassy.
For those 4,000 employees working for Citgo, many are no doubt polishing their resumes to secure their future in other companies in the American oil industry.
For Maduro, the military takeover of PdVSA makes perfect sense. First, it virtually completes the military takeover of every aspect of the failing country’s economy. Prior to Monday’s announcement, the military was in charge of food production and distribution, imports and exports, and communications.
Second, the military secures Maduro’s position as president of the country, at least for the moment. With its support he has little to fear from the vast majority of his serfs who oppose his dictatorship. Next, as the country’s economy continues to crater, the military will have only themselves to blame, keeping Maduro out of the line of fire.
Finally, the move secures the military’s ability to finance itself, rather than relying on Maduro’s slim and slowly evaporating revenue stream. As Chris Tomlinson, writing for theHouston Chronicle noted, “The military supplements its income by demanding bribes, smuggling fuel to neighboring countries, and facilitating illicit narcotics shipments to Mexico and other Caribbean countries.”
As far as Citgo itself is concerned, Maduro sold 49.6 percent of it to Russia’s Marxist leader, Vladimir Putin, in exchange for a loan of $1.5 billion to keep his faltering regime afloat for a few more months.
With military people now in charge of Maduro’s only revenue stream through PdVSA, it’s only a matter of time before his regime collapses, either by the military which is now calling the shots, or by pressure from bondholders facing inevitable defaults on some $150 billion that Maduro owes them.
By the time the dust settles, it’s increasingly likely that Citgo, which used to be under the thumb of one Marxist dictator, will be owned, operated and controlled by another, this one in Moscow.
Tracking Socialist Venezuela’s Death Spiral: 4,000 Percent Inflation
This article appeared online at TheNewAmerican.com on Wednesday, November 29, 2017:
Poll results released on Monday and Tuesday show that Roy Moore has regained the lead over Doug Jones in the battle for the Alabama Senate seat left vacant by Jeff Sessions. Emerson Polling reported that Moore now leads Jones 53-47 while JMC Analytics showed that Moore has recovered from being four points down against Jones earlier in the month to five points ahead as of Monday. That’s a massive nine-point swing in favor of Moore, according to JMC.
Change Research showed a similarly impressive rebound for Moore: Two weeks ago, Jones led Moore by three points but now lags Moore 49-44, a swing of eight points.
What’s behind the startling reversal?
This article was published by The McAlvany Intelligence Advisor on Wednesday, November 29, 2017:
Regular readers will remember that just a week ago Monday MIA covered all the reasons that the Consumer Financial Protection Bureau (CFPB) was unconstitutional. It quoted from a court ruling where judges found the agency to be unconstitutional. It found commentators explaining why: the bureau’s designers in the Democrat Party and the Obama administration deliberately recombined the separate powers – create rules, interpret rules, enforce rules – into a single entity. Readers will remember the most egregious betrayal of the Constitutional of all: the bureau’s funding didn’t come from Congress but from another illegal agency, the Federal Reserve. This was to ensure that Congress couldn’t, in a fit of Constitutional awareness, defund it.
And then something happened.
This article appeared online at TheNewAmerican.com on Tuesday, November 28, 2017:
Early Monday morning Mick Mulvaney showed up for work at the office of the Consumer Financial Protection Bureau (CFPB), located inside the Federal Reserve at the Eccles Building in Washington, with a briefcase in one hand and a box of donuts in the other. On the same morning, the last-minute appointee of the departing director, Leandra English, showed up at her desk. Those expecting fireworks, as the two were essentially vying for control of the rogue agency, were disappointed.
English fired off an e-mail to the agency’s 1,623 employees saying that
This article appeared online at TheNewAmerican.com on Tuesday, November 28, 2017:
While honoring Native Americans who were “code-talkers” during World War II, President Donald Trump on Monday once again succumbed to the temptation to use the moment to call out Massachusetts Senator Elizabeth Warren by her “nickname” Pocahontas: “You were here long before any of us were, although we have a representative in Congress who they say was here a long time ago. They call her Pocahontas.”
The silence was deafening, but not the outrage expressed during a press conference that took place shortly afterward.
This article appeared online at TheNewAmerican.com on Monday, November 27, 2017:
As allegations over his sexual misconduct continue to mount, Michigan Democrat John Conyers announced on Sunday that he would step down from the House Judiciary Committee, where he has served as the leading Democrat for 10 years. He said nothing about leaving Congress over the allegations or the pending House Ethics Committee investigation into various other allegations of impropriety, as well. Instead he denied all the allegations:
Total sales (online plus brick and mortar) from Wednesday evening through Monday night are expected to touch
This article was published by The McAlvany Intelligence Advisor on Monday, November 27, 2017:
The numbers the economy is generating are breathtaking. All that the Thanksgiving/Black Friday numbers are doing is confirming everything else: it’s full speed ahead. Total sales from Wednesday evening through Monday night are likely to come in at a record $33 billion, with half coming from online orders. Total purchases for the entire holiday season are headed for $700 billion, up at least four percent from last year. Cyber Monday is likely to touch $7 billion all by itself, more than twice what it was just two years ago.
Black Friday is the third-busiest shopping day of the year, right behind
This article was published by The McAlvany Intelligence Advisor on Friday, November 24, 2017:
Here’s how the scam works. The owner of a football team seeking rents (economist’s term for taxpayer subsidies) says: “Pay for our new stadium because it will create economic growth and jobs. That will generate greater tax revenue, which will assure that the community comes out ahead in the end. Besides, it will be a ‘feather in the cap’ for your city to have us locate our team there.”
The cost of that “feather” turns out to be enormous, and often continues long after the team leaves for greener pastures elsewhere.
Page 2 of 375
thats good article thanks for sharing...By Quote Messages
maybe her and hillery can be cell mates!...By Lawrence Passmore
Great article. A shame that sham organizations just...By MacBart
Mmm, Bob... I shared this w/o checking. My...By Robert Hale Dukeofwail
Sales tax rate increase??? I've never paid a...By Billy_Poobah