are you going to provide oil to run the fishermen's boats for the next 40 years?

are you going to provide oil to run the hotels for the next 20 years?

does the free market guarantee continued employment, or is the very basis of capitalism the inherent necessity of the value of ADAPTING.

The Economist has a pathetic leader this week criticizing Obama for hammering BP and raising the ridiculous idea that his corporate-friendly administration is anti-business.
It actually (really!) calls the president “Vladimir Obama” and writes:
The collapse in BP’s share price suggests that he has convinced the markets that he is an American version of Vladimir Putin, willing to harry firms into doing his bidding.
The normally sober Economist has gone off the wagon here.
First, it knows better than to “suggest” what “the markets” think. Second, that blew up in its face rather quickly. Instaputz points out that BP shares soared 10 percent on news of the $20 billion fund the Economist’s spin here is obnoxious. If anything ends up ruining BP, it will have been its own actions. Go read this The Wall Street Journal piece for a look at the company’s negligence.
And BP should have to pay for all the associated costs of its actions, not just the actual bill for cleaning up the oil.they will be very, very costly.
Moreover, a company’s market capitalization is based on expectations for future earnings. This disaster will surely make it harder for BP to get drilling rights that investors expected it to have just two months ago. The political climate for offshore drilling has just undergone a seismic change.
Another big factor in BP’s share decline is pure uncertainty. Investors don’t like it. Right now, the only thing certain is that BP’s hole is going to be spewing toxic oil into the Gulf of Mexico for at least another two months

Bobby Jindal doesn't know what he's doing here, guys. He's fighting an oil spill like a war or a flood. You block this pass off with these dirtbags and mounds of dirt, you're gonna kill this marsh. The life here evolved with the current that moves through this pass. Nutrients, oxygen... you're creating a slackwater zone in a marsh that is used to tides and current. There's little critters that keep the algae off the grass stems and reeds. They need oxygen and a specific salt-freshwater mix. They eat the algae and keep the grass healthy. You kill them and the marsh becomes a big flat of rotting vegitation. But... where did you get that dirt? 300 yards inland? That dirt's poison for this marsh. Couldn't be worse than if you brought it from Nebraska. It's alien fucking dirt in this environment. It's worse than the fucking oil. And Jindal will leave it here forever if we let him. Lets get that shit out of here and we'll all get together and lay some fucking proper fucking boom.

you get the idea. It's fucking obvious. Boom is not meant to contain or catch oil. Boom is meant to divert oil. Boom must always be at an angle to the prevailing wind-wave action or surface current. Boom, at this angle, must always be layered in a fucking overlapped sort-of way with another string of boom. Boom must always divert oil to a catch basin or other container, from where it can be REMOVED FROM THE FUCKING AREA. Looks kinda involved, doesn't it? It is. But if fucking proper fucking booming is done properly, you can remove most, by far most of the oil from a shoreline and you can do it day after day, week after week, month after month. You can prevent most, by far most of the shoreline from ever being touched by more than a few transient molecules of oil. Done fucking properly, a week after the oil stops coming ashore, no one, man nor beast, can ever tell there has been oil anywhere near that shoreline.

Wow, we are sinking to new levels of idiocy now.
The MSM would have you believe that the tremendous sell-off in the markets was just a trading error. If it was a trading error, then these markets SUCK! Are you telling me we put TRILLIONS of dollars, including our retirement savings, into a system that can be completely thrown into chaos because a single guy hits the wrong button on a single transaction? It’s a good thing Faisal Shahzad isn’t still working on Wall Street anymore, or he could have just pushed a button and caused a lot more damage that way than he did with a faulty car bomb
This is financial terrorism, folks, retail traders were stopped out and margined out while the pros made Billions picking up the pieces. Don’t worry though, if you are rich enough and connected enough, the Nasdaq will reverse your losses but if they really wanted to make amends, they would cancel the day’s trading for ALL traders.
This market didn’t just sell off because of a trading mistake. Whatever really happened, it happened because there were no real buyers when the selling came - something I have been warning would happen during the last 3 months of low-volume run-ups. I keep using the house of cards/Jenga metaphor and that’s exactly what we have so be very careful when the same idiots who have been telling you BUYBUYBUY are now telling you to "come back in - the water’s fine."

Having seen the capitulation unfold second by second and then listen to CNBC come up with every excuse under the sun just got under my skin. I've decided to chart some of our one second analytics charts of the capitulation unfolding on our screens. The chart below (more to follow) captures the moment of the final capitulation, before the reversal today. The idea that it was a 'fat finger' error is ludicrous; unless the fat finger hit every market in the world virtually simultaneously. Liquidity simply left the world financial markets for about four minutes this afternoon. The bids just vanished. And what else vanished? Remember the vaunted supplemental liquidity providers, led by Goldman Sachs. Remember that they are paid to "provide liquidity" through their predatory high-frequency algos, they are not required to do so. So when the S@#$T hit the fan they just disappeared. In one second more or less someone (and yes, under these circumstances, human beings take control of the machines) made the decision to pull the bids on every equity in the S&P, every financial futures contract, every FX contract in every market in the world. This kind of thing just doesn't happen in a pure auction environment; there just isn't a tight enough communication link between the parties to allow the decisions to propagate within the same second -- even with HFT algorithms. No. Some human made the decision to pull the bids; all of them, all at once. If that is not a condemnation of the concentration of financial power and the systematic risk it engenders I don't know what is.