John McCain has found a loophole when discussing energy
Whenever John McCain gets criticized for his ethanol stance, this is the response given by the campaign. “John McCain supports being energy independent and advocates the use of alternative forms of energy, including ethanol, competing in the free market.” The last 5 words, provide the loophole. There is no free market and darn little competition. What we have is the oil market as it is today. The U.S. military, US taxpayers, spend untold sums to guard the world’s energy security, something oil companies themselves could not do. This is an enormous subsidy paid by the U.S. government to oil companies. If it were a free market, we would let Exxon contract with Blackwell for oil security. It’s too important right? ... So the government acts to get it done. Energy independence is what’s important now, too important not to do whatever it takes to make it happen. The free market will not deliver energy independence. The market could care less about where the U.S.
» Full StorySurvey: Many Washington farmworkers indigenous Mexicans
SEATTLE — Indigenous Mexicans make up nearly a quarter of the farmhands who pick the apples, cherries and other crops in western Washington, a new survey has found.
Jobless rate jumps
WASHINGTON — The nation’s unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.
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Home loan troubles break records again
WASHINGTON — The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooni
Stocks mostly rise as investors snap up financials
NEW YORK — Wall Street wrestled with intensifying economic worries Friday, extending sharp losses after a disheartening jobs report and then grudgingly engaging in some mild bargain hunting that gave the market some modest gains.
» Full StoryJobless claims jump, while productivity rate soars
WASHINGTON — The number of newly laid off workers seeking unemployment benefits jumped unexpectedly last week, the government said Thursday, reversing three weeks of declines.
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