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Nightly Ramble:OPEC; Muggers; Markets;SNL; Early Votes; More

Welcome dear reader, to the most intense nightly read on the ‘sphere… BitsBlog’s Nightly Ramble.

Lots going on, today, Friday. Let’s get to it.

  • First, you’ll no doubt notice that we’re running a good deal faster. The performance increase we got from that database hacking I did was beyond what I figured it’d do. Now, I’m kicking myself for not doing this before. Oh, well, live and learn.
  • OPEC cut production [1]by a million and a half BPD. Not a huge cut, here, really. The reason the meeting happened at all was Iran, whose production costs are higher than places like Kuwait, for example. At the current trading price, Iran is about $25/bbl below their recovery costs. Iran wanted cuts, Kuwait wasn’t quite so concerned.  Prices, on the other hand still have not gotten worse… they’re at $63/bbl [2]currently, and still dropping, although I do expect to see some moderation in that price today. Gas prices continue to fall, as well, and will continue to do so for at least the immediate future.
  • I’ve never been much on attributing one factor or another as being the sole reason for the market’s action one day to the next.I went after Bruce .. mildly, it should be said… for doing that some weeks back.  Still, I can’t help but wonder if this [3] isn’t the reason behind today’s market instability:

    Are investor concerns about an Obama presidency influencing the stock market? And by “concerns” I mean “existential panic.” And by “Obama presidency” I mean “a tax-hiking and regulatory reign of terror.” And by “influencing” I mean “eviscerating.” At least that’s the overwrought take I get from a few of my more skittish E-mailers. Chillax, y’all!

    Well, one can certainly understand the maket’s reaction, when history shows us FDR’s socialist manipulations [4]left is in a deperssion forfar longer thena we should have been [5]. Our current conditions, followed by the threat of a presidency held by someone who made the socialist FDR look like a strong capitalist by comparison, is enough to give the shakes to any investor, all by itself. When you add Ried, Pelosi, Frank andSchumer [6]to the forecast… the outlook for the next several years looks bleak at best. Well, that and that little 401k bomb [7]we laid out here yesterday. What are 401k’s? Largely, market investments.

  • I got several Emails about this Obama supporter/Mugger story [8]down in Pitt…’Did you see this?’ Why, yes, I saw it.  But while (and let’s make this clear up front) I wouldn’t put such things past most Obama supporters, frankly, I was a little concerned about the vibe I got off this one, which is why I didn’t touch the thing.   Michelle was, too, apparently. [9] Drudge, meanwhile, was, until a couple hours ago, all over it like ugly on Hillary, for reasons only known to him and his crew. Perhaps it/s beacuse he’s out on the west coast and Michlle and I are a lot closer? Dunno.. However that may be, the Anchoress [10] calls this one well:

    If the story checks out and is deemed credible, it will quickly be buried. If, however, this young lady has perpetrated a political hoax? The press will milk it nonstop; it will be all you’ll hear and read about, 24/7, for the next two weeks.

    Yep. And we’re about to see that play out, since supposedly,  now she’s admitted she fabricated the story, thereby validating my instincts on the subject.  But perhaps it says something of our perception of Obama supporters, that regardless of this particular story being true or not, most of us think them capable of such acts? 

  • Apparently, the local police, nation-wide, are thinking the same way. They’re preparing for riots on election day [11]. Do you suppose they’re preparing for white folks rioting if McCain loses? Oh, and of course there’s this story… [12] which I have no reason to question. Interesting how that gets far less press. And of course now that the story from Pitt is revealed as what I thought it was, the shot up house over Obama signs gets ignored outright.
  • The market’s still adjusting. [13] Frankly, I’m not overly worried. I may get into why over the weekend, but for now, let’s say I’ve seen it before.  Yes, the numbers are larger, but then again the numbers were larger on the way up, too…. a number that seemingly gets forgotten in all the hype.
  • Pat Buchanan is the south end of a northbound nag. Let me make that clear. Yet, he does really hit the ball once in a while, and he did with this question: What if ‘SNL’ mocked Michelle Obama? [14]
  • Interesting breakdown of early voting [15].

    “These numbers are really astounding — they defy all the patterns of early voting we’ve seen in this modern era,” McDonald said. Based on past elections, he explained, “the early electorate tends to be more Republican in their character than the Election Day electorate.”

    I’m unclear if this is the nature of early voting, or if we’re dealing with voters specifically reacting to the campaigns. “The Gag Factor” does seem to apply, where people get to the the actual checkbox, or whatever and simply can’t bring themselves to vote for the leftist.

  • Local congress-critter Randy Kuhl gets kudos from BitsBlog, for his correct identification of reality: (TheHill) [16]

    “It’s very frustrating when you see a Democratic majority stay away, as they did intentionally, from addressing the issue of lowering the price of gasoline by adopting a comprehensive energy plan,” Kuhl said. “It leads one to believe that, in fact, this is done for an intentional purpose. I still believe that. I hope I’m wrong.”Kuhl initially stated in an August interview with WHAM: “I firmly believe the Democratic majority wants the American public to suffer and to hurt so that they can make some political gains at election time, and I think that’s wrong.”

    Asked if he was backing off his statements at all, Kuhl said he wasn’t.

    Good for you, Randy. You’ve just won my vote. Wow! A congress critter who knows reality when he sees it. What a concept!

  • I see the New York Times stock has been lowered to Junk status. [17]
  • Doctor Krauthammer endorses McCain. [18] His grasp of reality is one reason he gets quoted here so often. Here’s another example of the result of that grasp on reality.
  • Apparently Michigan’s voter registration rolls are at 98% of the population [19].  It’s amazing the amount of dogs, dead people and ‘toons live there now.
  • Obama Race baiting? Oh, yes. Here you go. [20] Can you really vote for this guy?
  • I gave an example, ealier today about what happens when government try to spread the wealth by means of government fiat. In that case, north Korea and their food shortages. In this case, the subject is the land of Hugo Chavez [21]. The tend is always there, people. And yet, you’re even considering voting for Obama? Why?
  • ACORN vote fraud in PA [22] 
  • By the way, did anyone notice Obama’s fundriasing has suddnly dropped off? [23] All that money, outspending McCain 4 to 1,  and the best he can manage is a tie? What’s up with that? And now, he comes into money problems. Guess which way this one goes?