Oct 31, 2008
Exxon Mobil smashed its own U.S. record for quarterly profits yesterday, ringing up $14.83 billion in net income thanks to soaring summertime crude oil prices. But with crude oil prices now less than half their July peak and the economic outlook bleak, the record may stand for a while.
Exxon’s third-quarter earnings rose 58 percent compared to the corresponding period in 2007, and its per-share earnings of $2.86 were higher than what analysts expected, capping a week of strong profit numbers from the world’s premier oil companies, all of which benefited from the spike in oil prices in July.
Royal Dutch Shell also posted higher earnings yesterday, beating analysts’ estimates with a profit of $8.45 billion for the third quarter. Conoco Phillips, the third-largest U.S. oil company, said last week that its third-quarter profit jumped 41 percent, to $5.19 billion.
Oct 28, 2008
Some political analysts and economists argue that the war is only compounding the effect of a sluggish economy and but for the war, our economy might be in better shape than it is now. You can’t get President Bush to agree, however. According to Bush, the war is actually helping the economy. Think Progress, a progressive website published the following exchange:
CURRY: You don’t agree with that? It has nothing do with the economy, the war — spending on the war?
BUSH: I don’t think so. I think actually the spending in the war might help with jobs…because we’re buying equipment, and people are working. I think this economy is down because we built too many houses and the economy’s adjusting.
Oct 28, 2008
The Senate voted this week to allow ‘illegal’ aliens
access to Social Security benefits.
It is already impossible to live on Social Security alone.
If the government gives benefits to ‘illegal’ aliens who have never contributed,
where does that leave those of us who have paid into Social Security all
our working lives?
What’s going on in this country?
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Oct 27, 2008
Although some of the polls show Obama in the lead, with people like Biden “helping” him I think McCain still can get it done.
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