Oil prices and speculation
Bob Morris @ May 9th 2008 19:01 - Category: Unfiled ;
Naked Capitalism details how oil prices are being driven by speculation, not demand, to the detriment of all but a tiny few.
Archive for May 9th, 2008
Lebanon on brink of civil war
Bob Morris @ May 9th 2008 15:45 - Category: Unfiled ;
Race-baiting is not a winning strategy
Bob Morris @ May 9th 2008 11:21 - Category: Election 2008 Tags: Clinton;
Call DNC Chair Howard Dean and Tell Him to Stop the Clinton Campaign’s race-baiting
In the last few days, a desperate Clinton campaign has turned to race-baiting as its primary strategy. Tell DNC Chair Howard Dean to insist that if she plans to continue her campaign, Sen. Clinton must end her strategy of racial division.
Color of Change has more information and a suggested calling script.
Why credit card debt is a bad idea
Bob Morris @ May 9th 2008 06:44 - Category: Credit crisis ;
Say a consumer has $10,000 of credit-card debt with a 20% interest rate and the minimum payment is calculated by taking 2.5% of the average daily balance. It will take more than 50 years to pay off the balance with just the minimum payments — if no further debt is added — and cost nearly $20,000 in interest charges, according to City National Bank’s online calculator. That doesn’t include additional spending, fees for late payments, potential interest-rate hikes or other charges the consumer may incur.
Credit card debt has been soaring, no doubt at least partly due to the HELOC money machine getting turned off for many. Loaning money to those who may not be able to repay has been hugely profitable, so far, for credit card companies. But haven’t we heard and seen this all before with subprime? The credit card bubble will burst too.
Our escrow lurches forward
Bob Morris @ May 9th 2008 00:25 - Category: Unfiled ;
While the sale of our house was scheduled to happen several days ago, it now appears it’ll happen next week. Sue and I and all the agents and lawyers involved (in CT, lawyers close a real estate deal), all see the close of escrow happening quite soon.
It’s been a bumpy process, but even after hitting seeming speed bumps, it has always lurched forward towards the desired conclusion.
And I shall speak no more about it here until it has closed and the money is in our bank account!
We officially live in South San Francisco now, in a brand new, modern apartment complex with all the amenities. It’s across the street from a BART station and there’s a Trader Joe’s at the end of our building. For non-Californians, Trader Joe’s enjoys and iconic status here and soon enough I’ll be back at my favorite geek store chain, the wondrous Fry’s Electronics.
