Growing demand competing with diminishing resources.
Unprecident ecomonic recessions and depession. Check out and Hersh report bombshell
The Speaker has been studying Peak Oil for 5 years.
McCAIN, John Sidney, III
Representative and a Senator from Arizona
Born in Panama Canal Zone, August 29, 1936
Attended schools in Alexandria, Va.
Graduated, United States Naval Academy, Annapolis, Md. 1958, and the National War College, Washington, D.C. 1973
Pilot, United States Navy 1958-1981, prisoner of war in Vietnam 1967-1973
Received numerous awards, including
-the Silver Star
-Legion of Merit
-Purple Heart, and
-Distinguished Flying Cross
Elected as a Republican in 1982 to the Ninety-eighth Congress
Reelected to the Ninety-ninth Congress in 1984 and served from January 3, 1983, to January 3, 1987
Elected to the United States Senate in 1986
Reelected in 1992, 1998 and in 2004 for the term ending January 3, 2011
Chair, Committee on Indian Affairs (One Hundred Fourth Congress; One Hundred Ninth Congress), Committee on Commerce, Science, and Transportation (One Hundred Fourth through One Hundred Sixth Congresses, One Hundred Seventh Congress [January 20, 2001-June 6, 2001], One Hundred Eighth Congress); unsuccessful candidate for the Republican presidential nomination in 2000. (source)
Currently on the Commerce Committee
and according to its Web site, the Commerce Committee oversees 13 areas,
beginning with the Coast Guard, and continuing through “regulation of
consumer products and services … except for credit, financial
services, and housing” — the very areas now in crisis.
The full list of Commerce Committee oversight areas follows:
1. Coast Guard.
2. Coastal zone management.
3. Communications.
4. Highway safety.
5. Inland waterways, except construction.
6. Interstate commerce.
7. Marine and ocean navigation, safety, and transportation, including
navigational aspects of deepwater ports.
8. Marine fisheries.
9. Merchant marine and navigation.
10. Nonmilitary aeronautical and space sciences.
11. Oceans, weather, and atmospheric activities.
12. Panama Canal and interoceanic canals generally, except as provided
in subparagraph (c).
13. Regulation of consumer products and services, including testing
related to toxic substances, other than pesticides, and except for
credit, financial services, and housing.
14. Regulation of interstate common carriers, including railroads,
buses, trucks, vessels, pipelines, and civil aviation.
15. Science, engineering, and technology research and development and
policy.
16. Sports.
17. Standards and measurement.
18. Transportation.
19. Transportation and commerce aspects of Outer Continental Shelf
lands.
Lots of transportation and military on that list…..
Nick Timiraos reports from Elko, Nev., on the presidential race.
John McCain and Barack Obama didn’t
criticize the government’s decision to bailout insurance giant AIG, but
the two presidential hopefuls did continued to jockey Wednesday over
who would better extinguish the nation’s financial fires.
Obama mused that it had been “really interesting” to watch McCain
respond to the crisis by calling for better regulation after years in
Congress of advocating deregulation. The Democratic candidate didn’t
elaborate on his own economic policies Wednesday, but mocked his
Repubican rival, saying McCain got “a little carried away” on Tuesday
with a promise to challenge “the old boys’ network in Washington.”
“The old boys’ network?” Obama asked. “In the McCain campaign, that’s called a staff meeting.”
A McCain campaign spokesman dismissed the rhetoric as an attempt to “disguise [Obama’s] non-existent record.”
The Obama campaign has tried to link McCain to a decades-long push
to deregulate financial markets, which culminated with the 1999
Gramm-Leach-Bliley Act that repealed New Deal-era securities
regulations. Phil Gramm, a McCain adviser and former senator, helped lead that push, but Clinton Treasury Secretary Robert Rubin, who has advised Obama, helped to secure passage of the bill.
The Obama campaign, meanwhile, charged that McCain had been shaky on
AIG, rejecting a taxpayer bailout on Tuesday. McCain was asked on CNBC,
“If you were in the Fed’s position, do you let it fail?” He responded:
“I think you have to,………….
From CNN White House Correspondent Kelly Wallace
September 27, 2000
WASHINGTON (CNN) — President Clinton announced Wednesday that the
federal budget surplus for fiscal year 2000 amounted to at least $230
billion, making it the largest in U.S. history and topping last year’s
record surplus of $122.7 billion.
“Eight years ago, our future was at risk,” Clinton said Wednesday
morning. “Economic growth was low, unemployment was high, interest
rates were high, the federal debt had quadrupled in the previous 12
years. When Vice President Gore and I took office, the budget deficit
was $290 billion, and it was projected this year the budget deficit
would be $455 billion.”
Confused over Budgets, National Debt, or Deficits?
Great reading over here at Federal Budget.com
Roubini On The US Financial Disastrous Situation :
Nouriel Roublie is Chairman of Roubini Global Economics and Teaches at NYU
He has been predicting what is currently going on and sees worse times ahead.
It was over the past weekend (9-12-2008 / 9-14-2008)
And what I have heard from Guest on Charlie Rose, which he was also a part of, To The News Hour with Jim Lerher, People are predicting anywhere from mid 2009 to mid 2011.
That’s a depressing or rather contracting inwards now as it is blowing off bloated assets i/e over debited or Toxic assets.
Feed.TheHungryHead.com
