[Marxism] Today's News

S. Artesian sartesian at earthlink.net
Mon Apr 13 18:39:57 MDT 2009

Well, let's see, it's after 8 PM here, the Yankees are losing again, down 
9-0 in the second inning, and that miserable transplated billionaire Red Sox 
fan in the mayor's office,  Bloomberg, has decided that 8 PM is the right 
time to turn loose the jackhammers and scarifiers and rip up the pavement on 
Thompson Street.

And in today's papers?


1. Apropos of wanting all the oil all the time, or not--  number of 
exploratory wells drilled in the North Sea dropped almost 80% in  1 Q 2009, 
total wells drilled [including producton] down 41%.  Companies reducing 
expenditures in the face of price drops.  Situation so bad, UK's Dept of 
Energy postpones its solicitations for offshore licensing.

2. Apropos of China-- Central bank warns that it will restrict credit after 
record surge in bank lending in 1 Q.  Lending is already at 2/3 of the 
amount programmed for the entire year in the stimulus package.  But who's 
getting the loans as:

 Deterioration in the ability of Chinese companies to repay suppliers in the 
DOMESTIC trade.  Cost of credit insurance on suppliers' loans to customers 
up 30% since 2008.  90% of Chinese suppliers have extended credit to 
customers on more than 1/2 the suppliers' sales.  Overdue accounts now more 
than 2% of all supplier sales.


1.  Apropos of China-- govt. actually sold US [and other sovereign] debt 
instruments heavily in January and February [so much for any such sale being 
seen as a hostile act by the US].  Total reserves fell $32.6 billion in 
January, and 1.4 billion in Feb; increased by 41.7 billion in March.

Sales attributed, partially to "capital flight" from China.

By the way, I'm done with the Yankees.  The stadium is a complete swindle. 
Hate the Steinbrenners.  A-Rod's a joke.  Jeter can't reach a ball hit 2 
feet to his right. Nady, Matsui, Swisher, Damon couldn't catch a ball if it 
were lobbed to them.  The team has been nothing but choke artists since 
2003.  What, and who's left?  Posada, Mariano, and that's not enough.

Dave, Eli,  how's Oakland doing?  Always liked them.  Loved them when Dick 
Williams and then Billy Martin were the managers. 

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