Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Technology

Gas Prices Ease as U.S. Oil Production Soars

This article was first published by TheNewAmerican.com on Monday, July 7, 2014: 

English: $4.06 Gas Prices, Lewiston, Maine, Cu...

Despite predictions to the contrary, the price of gas over the July 4 weekend dropped by two cents per gallon, confounding seers who were looking at gas approaching $4 a gallon. Those prognosticators were guilty of “straight-line thinking in a curvilinear world” — meaning that since gas this year was 20 cents a gallon more than a year ago, they believed it would continue to go up steadily for the foreseeable future.

With political disruptions in Iraq and Syria seriously reducing their contributions to the world’s oil supplies, one would think that prices would have to go straight up.

One would be wrong.

On July 4, Bank of America reported that U.S. production of crude oil (along with the liquids separated from natural gas) “surpassed all other countries this year with daily output exceeding 11 million barrels [per day] in the first quarter.” Francisco Blanch, BofA’s head of commodities research, told Bloomberg,

The U.S. increase in supply is a very meaningful chunk of oil. The shale boom is playing a key role in the U.S. recovery [from the Great Recession].

If the U.S. didn’t have this energy supply, prices at the pump would be completely unaffordable.

The nearly exponential growth in oil production, thanks to the free market’s invention and development of fracking technology, has put the United States firmly on the path of energy independence. As we become energy independent, disruptions in the supply chain from the Middle East will matter less and less.

Texas and North Dakota — which Professor Mark Perry calls “Saudi Texas” and “Saudi Dakota” respectively — are now producing almost half of all U.S. oil, and would rank as the fifth largest oil producing country as a separate nation. The growth in production is astonishing, according to Perry:

A decade ago the combined conventional crude oil production in the states of Texas and North Dakota … represented less than 21% of total U.S. crude oil output.

By 2008, the combined crude oil output in the two states … were producing one-third of all U.S. crude oil.

In eight out of the last nine months, their combined share exceeded 47% of all U.S. oil.

Perry predicts that it will exceed 50 percent sometime before the end of the year. And that prediction could come back to embarrass him, if the International Energy Agency (IEA) is correct. The IEA is estimating that total U.S. crude oil production (currently at 8.4 million bpd) will continue to soar, exceeding 13 million barrels per day in less than five years. That 50-percent increase in oil production would mean that the United States could be producing nearly 80 percent of its domestic needs for energy, closing in on energy independence.

In the very short run, gas prices will remain higher than they should be, thanks to the disruptions of supply in the Middle East, but with the continuing success of fracking making shale oil deposits now available with current technology, prices may reasonably be expected to decline further over time. Blanch admitted as much to Bloomberg:

The shale production story [in the United States] is bigger than Iraqi production, but it hasn’t made the impact on prices you would expect.

Typically such a large energy [production] growth should bring prices lower but in fact we’re not seeing that because the whole geopolitical situation outside the U.S. is dreadful.

Those involved in capitalizing on the fracking revolution, however, are taking a much longer view. The annual investment in oil and gas development and production hit a record $200 billion this year, one-fifth “of the country’s total private fixed-structure spending for the first time,” said Blanch.

The explosion in the oil patch is doing much to offset the otherwise nearly stagnant economy. In the last 10 years, direct jobs in the patch have almost doubled, while “indirect” jobs that support the industry have almost tripled in that same time period. As Professor Perry noted: “No other sector … has added as many jobs for American workers or made as much of an overall economic contribution to the US economy as the oil and gas sector.”

Citizens often don’t know how well they have it here. At present the average cost of gasoline is $3.69 a gallon for regular. In Norway it’s an astounding $9.79 a gallon, while in Germany it’s $8.50, and in England a gallon of petrol is $8.25.

The only thing that will keep the price of gas from continuing its two-year decline is government, either through restrictions on energy development or through increased taxation. At present about $2.37 of that $3.69 represents the cost of crude oil. Refining costs are about $.45 a gallon, while distribution, marketing costs, and profits (estimated to be between eight and 15 cents per gallon) cost another $.33 a gallon. Taxes (federal and state) take up the balance: $.42 a gallon. Federal excise taxes are $.184 cents a gallon, while state taxes average about $.24 cents a gallon. If gas continues to drop in response to the natural laws of supply and demand (greater supply means greater demand thanks to the lower price), the temptation to raise state and federal excise taxes will become overwhelming.

In Germany, for instance, half the cost of a gallon of gas is due to taxes. In Great Britain the tax take on a gallon of gas is more than 60 percent. In Sweden it’s even higher.

At present, however, the laws of supply and demand are providing an enormous advantage to American drivers compared to their counterparts abroad. And they continue to confound the experts predicting ever higher prices at the pump as well.

A graduate of Cornell University and a former investment advisor, Bob is a regular contributor to The New American magazine and blogs frequently at www.LightFromTheRight.com, primarily on economics and politics. He can be reached at badelmann@thenewamerican.com This email address is being protected from spambots. You need JavaScript enabled to view it. .

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Don’t Worry, Ms. Lerner: Your Emails Are Out There and Mr. Issa Will Find Them for You

 

Seal of the United States Internal Revenue Ser...

This article first appeared at The McAlvany Intelligence Advisor on Friday, June 20, 2014:

In early August 2011, when Lois Lerner, then the Director of the Exempt Organizations Unit for the IRS, discovered that her computer had crashed, she asked the internal IT people to help her out and restore her files. By Friday, August 5, she hadn’t heard back from them so she called Lillie Willburn, the IRS Field Director involved. Late Saturday evening she received this from Lillie:

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Google buys Skybox for its Eye-in-the-Sky Technology

SKYBOX

SKYBOX (Photo credit: ✖ Daniel Rehn)

When Google announced on Tuesday that it would buy Skybox for $500 million, it explained that it was all about updating its Google maps application:

[Skybox’s] satellites will help keep our maps accurate with up-to-date imagery.

Over time, we also hope that Skybox’s team and technology will be able to improve Internet access and disaster relief – areas Google has long been interested in.

David Cowan, a partner in the venture capital firm Bessemer Venture Partners that has invested in Skybox, was only slightly more forthcoming:

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Ride-Sharing Revolution Adding Thousands of new jobs Every Month

English: Yellow cabs in Manhattan. Nederlands:...

The ride-sharing revolution continues to accelerate, adding 20,000 new jobs every month, according to the head of Uber, the initiator of the revolution. Said Uber’s CEO Travis Kalanick:

Just four years ago we set out to build a better option for people to move around cities: to make getting a ride safer, easier and affordable.

But Uber’s positive impact goes further. Hundreds of thousands of entrepreneurs are using the platform to build their own small business, resulting in a huge job growth engine…

When economist Mark Perry’s plane arrived at Reagan National Airport late Tuesday night, May 27, it sat on the runway for another hour and a half waiting for a gate to open. When he finally deplaned at 12:30 a.m., he just wanted to get home and go to bed. But so did everyone else:

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Review of “No Place to Hide” by Glenn Greenwald

Glenn Greenwald, the facilitator in bringing to light Edward Snowden’s staggering revelations over the NSA’s surveillance of Americans, titled his book from a comment made by Senator Frank Church back in 1975. As head of the U.S. Senate’s Select Committee on Intelligence Activities, Church said:

The United States government has perfected a technological capability that enables [them] to monitor the messages that go through the air…

That capability at any time could be turned around on the American people, and no American would have any privacy left. Such is the capability to monitor everything: telephone conversations, telegrams, it doesn’t matter.

There would be no place to hide.

Greenwald opens his book as if it were a John Grisham thriller,

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Government cuts California oil Reserve Estimates by 96 Percent

English: Monterey Formation, Gaviota State Par...

Monterey Formation, Gaviota State Park (Photo credit: Wikipedia)

A federal government agency reported on Tuesday that its previous estimate of the amount of recoverable oil from California deposits was way too optimistic. Its 2012 estimate that the Monterey formation contained 13.7 billion barrels of recoverable oil was cut to 600 million barrels, just 4 percent of its previous estimate. Adam Sieminski, head of the Energy Information Administration (EIA), said:

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US Accuses China of Spying; China calls Charges Hypocritical

English: Members of a Chinese military honor g...

Members of a Chinese military honor guard march during a welcome ceremony for Chairman of the Joint Chiefs of Staff Marine Gen. Peter Pace at the Ministry of Defense in Beijing, China. (Photo credit: Wikipedia)

On Monday the U.S. Justice Department filed indictments against five Chinese military officers for hacking into the computer networks of six American companies to obtain trade secrets and other sensitive business information. Although China has been engaging in espionage against the United States since the end of the Second World War, this is the first time charges have been levied on nationals living on foreign soil.

U.S. Attorney General Eric Holder told a news conference:

When a foreign nation uses military or intelligence resources and tools against an American executive or corporation to obtain trade secrets or sensitive business information for the benefit of its state-owned companies, we must say:

Enough is enough.

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Presidential Helicopter Upgrades to cost $20 Billion!

A U.S. Marine Corps Sikorsky VH-34D presidenti...

A U.S. Marine Corps Sikorsky VH-34D presidential helicopter (BuNo 147201) on the South Lawn of the White House (Photo credit: Wikipedia)

This article was first published at The McAlvany Intelligence Advisor on Monday, May 12, 2014:

When Ike occupied the White House, he asked his staff about using a military helicopter to fly him to his summer home in Pennsylvania. A Sikorsky UH-34 Seahorse was selected as the aircraft of choice: no creature comforts, no air-conditioning, no toilet.

In 1958, the helicopter was upgraded, and then again in 1961. By 1978, the Marines and the Army were flying VH-3As, which were further upgraded in 1987. By 2000, even these upgrades were falling behind the technology curve, and by 2009 the White House helicopter stable included 11 VH-3Ds and eight VH-60Ns (the V stood for VIP).

The 9/11 attacks changed everything.

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Defense Department Announces Latest Presidential Helicopter Contract

UTC Sikorsky logo

UTC Sikorsky logo (Photo credit: Wikipedia)

It didn’t take long for the skeptics to scoff at the costs of the latest effort to upgrade the fleet of presidential helicopters announced by the Defense Department on Wednesday, May 7. They say the $1.2 billion contract awarded to Sikorsky Aircraft Corporation will be just the beginning.

There are at least two reasons to be skeptical: the open-ended nature of the White House requirements and recent history. The Department of Defense outlined its requirements, stating that Marine Helicopter Squadron One which currently operates 19 presidential helicopters, must provide

 

Safe and timely transportation for the President and Vice President of the United States, heads of state and others as directed by the White House Military Office.

In addition, each aircraft must be equipped with various self-defense features such as bullet-proof glass and body panels and specialized communications equipment that allows the president to maintain “critical command functions” while airborne. Each needs to be large enough to carry up to 14 passengers and several thousand pounds of baggage while being small enough to operate from the White House lawn.

Each must have a minimum range of 300 miles and carry a full complement of defensive countermeasures to thwart heat-seeking and radar-directed missiles and also be hardened against an EMP (electromagnetic pulse), either from an enemy or from the sun. It must be able to send and receive encrypted communications and hold secure teleconferences while in flight.

And each must have air-conditioning and a toilet.

Under the contract Sikorsky promises to deliver two prototypes by 2016, with another 21 fully operational aircraft six years later.

Several questions arise. First,

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Supreme Court to hear Critical Fourth Amendment Appeals Tomorrow

Description unavailable

(Photo credit: Effnheimr)

David Leon Riley was driving through a residential area of San Diego in August of 2009 when he was stopped for having expired license tags on his car. A so-called routine search of his car turned up a couple of handguns whereupon he was arrested. The police took his smartphone and examined it down at the station house, discovering emails, text messages and videos implicating him in a gang-war drive-by shooting two weeks earlier. He was charged with and convicted of shooting at an occupied vehicle, attempted murder, assault with a deadly weapon along with other gang-related crimes and sentenced to 15 years in jail.

Riley’s attorneys tried to have the evidence from his smartphone suppressed claiming that the police didn’t secure a search warrant first, without success. But

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ICE Solicits then Withdraws Bid for National car tag Database

The pushback from the Immigration and Customs Enforcement (ICE) agency’s request for bids to build a national database of all license plate data now being collected elsewhere across the country was immediate, and for the moment at least, effective: within a week the agency withdrew its request.

ICE said such a national data base would just make its job of tracking illegal immigrants easier, that it

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Microstamping Does Work in Reducing Gun Sales in California

This article first appeared in The McAlvany Intelligence Advisor on Monday, January 27th, 2014:

This from Smith & Wesson’s press release is most revealing. On Wednesday the gun maker explained why it would no longer be selling its semi-automatic pistols in California. Note particularly the second paragraph:

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Gun makers stop selling guns in California thanks to the new microstamping law

Following Sturm, Ruger’s announcement last month that it would no longer be selling its semi-automatic handguns to California residents because of the state’s new microstamping law, Smith & Wesson announced on Wednesday, January 22, that it was following suit. From its press release, the company said:

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Of Myopia and Markets

The enforced elimination of the traditional incandescent light bulb by Congress has been used repeatedly by several commentators as a classic example of crony capitalism at work. They missed the most important point: the free market has provided alternatives that are largely neutralizing the state’s mandates.

The story began with efforts by companies like GE, Sylvania, and Phillips conspiring with green environmental groups to pressure Congress into banning incandescents so that consumers would be forced to purchase more efficient but more expensive and higher profit alternatives that they make, such as LED (light emitting diode) bulbs, halogens, and CFLs (compact fluorescent lights – those with the curly tops).

They didn’t really want or need an outright ban, just a mandate that bulbs would have to be slightly more efficient – just enough more so that the present ubiquitous invention by Edison wouldn’t be able to meet it. And the mandate was staged in so the consumer wouldn’t squirm too much at having his alternatives eliminated and being forced to pay more for those that remained. On January 1st the final step – banning 40s, 60s, and 75s – took place.

The New York Times got into the act, surprisingly, pointing out that Phillips – the huge Dutch conglomerate that makes LEDs – formed a “coalition” (the Times’ word) with a number of environmental groups also seeking limits on incandescents (among other things), including the Natural Resources Defense Council (NRDC). Said the head of Phillips’ “strategic sustainability initiatives,” Harry Verhaar:

We felt that we needed to make a call and show that the best-known lighting technology, the incandescent light bulb, is at the end of its lifetime.

In that single phrase, the hubris and crony-capitalist mentality is on full display: we know better than consumers do about what’s best for them. We get to decide where the market is headed. We need to “make the call.” Besides, we have the latest technology to replace the incandescents. Sure, they’ll cost more, but think of the savings! And we could sure use a boost to our bottom line, but that’s only an afterthought. Besides, we tried to persuade the consuming public that Edison’s invention is inefficient and expensive to operate and that our new, more expensive technology is really going to save them big bucks over time. But they just don’t listen. They keep buying incandescents, and we keep having to make do with the tiniest of profit margins. So we really were forced to hook up with those greens to get the job done.

The math certainly is persuasive: a 60-watt light bulb costs, for example, around $2 or so, but burns up more than $7 of electricity every year and only lasts a year and a half under normal usage before burning out, whereas an LED, which costs $13, burns just $1.57 of electricity in a year, and lasts more than five years. Think of the savings!

Unfortunately, the consumer doesn’t care. He doesn’t care that most of the energy used in incandescents is turned to heat, not light. He doesn’t care that they last only between 750 hours and 2,000 hours. And so, three quarters of the four billion light bulb sockets in the US are still filled, and being refilled, with incandescents. Something had to be done!

The lobbying efforts began in earnest, with many politicians “caving” after learning that the industry backed the mandates, and if they think it’s good, then why not? It was a classic case of “bootleggers and Baptists” coming together to present an irresistible case to waffling moderates in the House and Senate. Congressman Fred Upton said he supported the bill because it couldn’t be that bad “if the industry supported it.” Congressman Steny Hoyer said he voted for it because “the standards are supported by the lightbulb industry.”

Those efforts birthed the Energy Independence and Security Act of 2007, a mess of pottage designed allegedly “to move the United States toward greater energy independence and security … to increase the efficiency of products [like light bulbs]….” Of course, government can do no such thing, only the free market can do that. But no matter: the bill passed the House 264-163 and the Senate 65-27, and George Bush, the great environmentalist, signed it into law in December, 2007.

The new law wasn’t just at attack on light bulbs, but affected vehicle fuel economy and technology, increased biofuel production, enforced appliance efficiency, required federal buildings to use Energy Star products, and so on.

But it also was filled with loopholes – just the thing that the free market loves to explore to create options, alternatives, and workarounds so that consumers can obtain what they really want after all. The law didn’t apply to appliance light bulbs, “rough service” light bulbs, colored Christmas tree lights, plant lights, 3-way lights, stage lighting, candelabra lights, outdoor post lights, and nightlights as well as any bulbs less than 40 watts or more than 100.

Entrepreneurs went to work. A company called Advanced Lighting Technologies recently announced is “2X Bulb” which appears identical to Edison’s invention, but which would have made him envious: it’s twice as efficient as the 2007 law demands, and is available at prices marginally higher than those disappearing from the shelves.

The market is also putting pressure on CFLs, partly because people don’t like them (they contain mercury, they don’t handle dimmer switches well, and they don’t last as long as advertised), and partly because the prices of LED lights are dropping. The irony is clear: the market, in its wisdom, is replacing the replacements!

The market is also providing alternative sources for those consumers who still want to buy incandescent light bulbs in the familiar wattages. They are available, in any quantity, on eBay and at 1000Bulbs.com. When last checked, they were going for under a dollar, and much less in quantity. Just the thing for preppers and stockpilers.

So the lesson from the incandescent light bulb isn’t the crony capitalist one. It’s the one that the free market teaches every time. It will somehow, some way, find a way to satisfy the consumer.

—————————

Sources:

Economist Mark Perry: Crony capitalism: How private industry used government force to kill the traditional light bulb for higher profits

The Washington Examiner: Industry, not environmentalists, killed traditional bulbs

The New York Times: Bulb In, Bulb Out

Phase out of the incandescent light bulb

The 2007 Energy Act

The math: The incandescent light bulb isn’t dead

Incandescent Light Bulbs for sale on eBay

Standard Light Bulbs for sale at 1000bulbs.com

Reason: Lights Out For America’s Favorite Light Bulb

Rasmussen Reports: 72% Don’t Want Feds Changing Their Light Bulbs

2X technology explained

CNN’s obituary: RIP, light bulb

The story behind “Bootleggers and Baptists”

Looking Ahead to 2014 – and a Brighter Future

The latest Rasmussen poll shows 41% of American adults expecting the year 2014 to be a good year “at the very minimum” while just 23% expect the year to turn out poorly. Even the briefest look back at a few of the momentous events of 2013 bode well for the future. There’s the catastrophe called Obamacare which reflects badly, as Lew Rockwell noted, on the Obama “regime, which hates nothing more than looking ridiculous and incompetent, and being the butt of the people’s jokes.”

There’s the continuing rollout of secrets from Edward Snowden which not only keeps the surveillance state on the defensive but has exposed it as untruthful and sinister.

There’s the Benghazi scandal that simply will not go away, as evidenced by the loud condemnation of a New York Times report that tried to deflect responsibility away from the Obama administration by repeating provable lies.

While each of these can be looked at as positives in the cause of freedom, a look ahead provides great encouragement as well. The home-schooling movement continues to thrive and has been enhanced by the employment of the new technology, which makes resources easily accessible and can bring the classroom into the home. Consider, for example, the online school Freedom Project Education (FPE), which offers “a classical education for students … rooted firmly in Judeo-Christian values … similar to that received by America’s Founding Fathers, promoting liberty, citizenship, and independent thinking.”

The fracking revolution, resulting in what economist Mark Perry calls the “Great American Energy Boom”, has the increasingly likely potential to wean the US off most if not all foreign suppliers of energy, perhaps as soon as 2030. The impact of such an event can scarcely be underestimated, ranging all the way from removing a primary excuse for continuing foreign military entanglements to a vastly more robust economy. At present Midland, Texas, has the third-highest per capita income of any city in the country, while the unemployment rate in North Dakota is the lowest of any state.

Favorable fracking news continues to roll in on nearly a daily basis. A study from the University of Texas at Austin last week showed that as coal-fired plants are converted to natural gas, the need for water drops precipitously:

The researchers estimate that water saved by shifting a power plant from coal to natural gas is 25 to 50 times as great as the amount of water used in hydraulic fracturing to extract the natural gas.

This is good news on two fronts: Texas is in its third year of serious drought conditions, and the greenies have used the amount of water used in fracking as an argument against it. Such good news reduces the impact of that drought on the state while defanging such environmentalists’ attacks.

Across the world remarkable improvements in living conditions are increasingly being enjoyed as advances in medicine and technology are reducing mortality and improving literacy while decreasing poverty and hunger. According to Chris Higgins, writing for Mental Floss:

We are making tremendous advances in life expectancy, disease prevention, poverty and hunger…

Every single country in the world has lower mortality rates overall than they had in 1950…

Global literacy rates are rising … with youth aged 15 and younger doing especially well…

We’re on track … to halve world hunger [compared to its 1990 rate] by 2015…

[Since the year] 2000, over 600 million people have been pulled out of extreme poverty. This represents the fastest decline in global poverty in all of human history. (Higgins’ emphasis)

Freedom is advancing on the micro level as well. The US Postal Service continues its downward spiral into irrelevance thanks to the internet and some are expecting it to disappear altogether within a decade. Cartels that protect taxi companies are being challenged by apps such as Uber, Lyft, and Sidecar which provide transportation services by connecting travelers with drivers over the internet.

The alternative cryptocurrency, the Bitcoin, continues to gain momentum even as competitors such as Zerocoin enter the digital currency arena offering the advantage of secure anonymity of transactions. There is also growing interest in making gold and silver legal tender — at least as an alternative to, if not replacement for, today’s fiat (unbacked) currency.

Free market options to the heavy-handed federal mandates of Obamacare are becoming increasingly available including cost-sharing ministries and doctors outside the system accepting cash-only patients along with monthly packages of services provided for a modest ($50 to $100) monthly fee. There are an increasing number of retail cash-only health care clinics opening in big box stores like Walmart and pharmacies like Walgreen’s.

There’s crowdfunding that’s allowing small investors to join with eager entrepreneurs offering inventive, creative alternative products and services. There’s 3-D printing. There’s Bitmessage  poised to replace today’s fully-surveilled email with encryption tools. There’s TOR which, coupled with the Deep Web will allow anonymous websurfing once again. The list goes on.

The Internet, of course, makes it possible to reach a much larger audience than otherwise would be the case. TheNewAmerican.com received more than 600,000 unique visitors during December, according to editor Gary Benoit. The parent of that website, The John Birch Society, has led the way in the freedom fight for over 50 years. In an email to members it reminded them that:

one highly effective attribute of the JBS is its focused coordination of efforts…

In 2013, JBS members worked on stopping Agenda 21, exposing Common Core, opposing gun control, blocking con-con calls, nullifying Obamacare, and educating others on the free trade agenda.

JBS CEO Art Thompson looked ahead to 2014:

Based on the knowledge we have at hand, the JBS and all of our affiliated efforts reach approximately 20 million people in our first layer of influence…

Increasing what we are capable of doing by doubling our size would give the JBS a geometric growth in influence. In other words, doubling in size would more than double our effectiveness.

After that, by again doubling our numbers we could impact a third of all the adults in America. And this does not take into consideration the accompanying indirect influence within a second and third layer of the population.

In 2013 the battle for freedom saw significant victories, even beyond those outlined briefly here. There’s nothing to show that momentum slowing in 2014.

 

 

 

 

 

The Rise of “Saudi America”

This article first appeared at The McAlvany Intelligence Advisor on Friday, December 6th, 2013:

 

Back in early February Citigroup apologized for missing the huge explosion of oil and natural gas occurring in Texas, North Dakota, and elsewhere. Its report, entitled “Energy 2020: Independence Day” began:

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The US economy is vastly larger than we know

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, December 4th, 2013:

For the past 25 years, Austrian school economist Mark Skousen, nephew of W. Cleon Skousen (author of The 5000 Year Leap), has been trying to get the Bureau of Economic Analysis (BEA) to count the rest of the economy that the GDP doesn’t measure. In April, the BEA will start reporting the GO

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The newly updated GDP – the GO – still won’t capture all of the US economy

Austrian school economist Mark Skousen has labored mightily for a quarter of a century to persuade the Bureau of Economic Analysis (BEA) to publish a better measure of economic activity in the United States, and, beginning in April, the BEA will start publishing the country’s

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As Bitcoin prices increase so do concerns

With the price of a single Bitcoin exploding by 4000% just since January and by 400% in the last month, concerns about its legitimacy as a viable internet money that could effectively serve as an alternative to central banks’ currencies are increasing.

The Bitcoin has morphed from an internet algorithm to legitimacy beginning in August when

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The Bitcoin and Paris Hilton

This article first appeared in The McAlvany Intelligence Advisor on Wednesday, November 27th, 2013: 

 

In a dismissive article in The New York Times on Monday, the author quoted a Bitcoin skeptic who predicted: “In a matter of months you won’t be hearing about it. It will go the same way of Paris Hilton.” He failed to follow the old rule: keep your words sweet and tender because someday

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.