Monday, June 23, 2014

Executive Overreach

The [SCOTUS] said [24 Jun 2014] that the Environmental Protection Agency lacks authority in some cases to force companies to evaluate ways to reduce carbon dioxide emissions. This rule applies when a company needs a permit to expand facilities or build new ones that would increase overall pollution. Carbon dioxide is the chief gas linked to global warming.
The decision does not affect EPA proposals for first-time national standards for new and existing power plants. The most recent proposal aims at a 30 percent reduction in greenhouse gas emissions by 2030, but won’t take effect for at least another two years.


I honestly have no idea why the Obama administration has taken this path. 


Cinco-X said...

10 of 12 comments blocked on's really ugly over there...

Cinco-X said...

The Bond Trap By Peter Schiff
...the media almost completely ignored one of the most chilling pieces of financial news that I have ever seen.

According to a small story in the Financial Times, some Fed officials would like to require retail owners of bond mutual funds to pay an "exit fee" to liquidate their positions. Come again? That such a policy would even be considered tells us much about the current fragility of our bond market and the collective insanity of layers of unnecessary regulation.

Recently Federal Reserve Governor Jeremy Stein commented on what has become obvious to many investors: the bond market has become too large and too illiquid, exposing the market to crisis and seizure if a large portion of investors decide to sell at the same time. Such an event occurred back in 2008 when the money market funds briefly fell below par and "broke the buck." To prevent such a possibility in the larger bond market, the Fed wants to slow any potential panic selling by constructing a barrier to exit.

Cinco-X said...

Cute link from my daughter...I guess she forgot her birthday is coming up soon...
You're getting old!

Cinco-X said...

Time for America to Ally with the Kurds
As a military historian, I am sure that recriminations over the causes of American defeat have only just begun—but the priority of our policy makers should be to adjust our posture in the region in accordance with the material realities of this dark time in the history of American arms. The United States should thus acknowledge that the dream of a unified and multiethnic Iraq has turned into a nightmare, accept the country’s de facto partition, and throw our lot in with our only remaining effective allies in Iraq—the Kurds.

I've been saying that for a long time, but the counter argument has been that the Turks would never stand for it. Now it seems that the Turks would prefer a Kurdish state between them and the meltdown in Syria and Iraq.