O/T What are the real truths? What is happening right under our nose?

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Hi Guys and Gals, I have been made aware of some things suspected in the back of my mind. Check these out investigate and make your own decisions, Tom http://www.zeitgeistmovie.com / http://www.whatreallyhappened.com/spyring.html http://www.mortgagenewsdaily.com/3172008_Bear_Stearns.asp
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"Tom Bunetta" wrote

Old news that just proves a few sheep are finally looking up, but much too late.
Your freedom and sovereignty has been bartered to the highest global corporate bidder by your politicians. As of this week in NOLA, this country, once cherished and fought for, is history, and there is not a damn thing you can do about it.
Besides, who gives a rat's ass as long as you can watch American Idol, right after the network evening news.
--
www.e-woodshop.net
Last update: 3/27/08
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<snipped>

News? I don't think I've seen actual news on television since the dawn of CNN.
I closed a plant in a small town, which is unfortunately bound to be "news". One of the most shocking things about this was observing the" news" articles that were written or broadcast about that event. Other than a couple of prepared press releases, I offered no interviews or additional information. Unbelievable what was "made up" to fit the agenda targeted opinion that was published or reported as "news".
You sir, are not smart enough to be given the facts and formulate your own opinion regarding same. But not to worry, someone will do it for you.
Frank
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"Frank Boettcher" wrote

right
Can you spell "facetious"? <g>
(I know you can, but I'm not so sure about _many_ others)
--
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Not without a working spell checker I can't. Alas, the long term result of relying on same. Do know what it means though.

Probably should have added a grin to the last statement in my post, but experience tells me the regular posters and identified lurkers seem to have their wits about them.
Frank
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Well, I'll admit I have trouble with it. I though when you were talking about television news it was spelled "fictitious". No?
Robert
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Take in mind also the further proof that politicians and big business are in bed together.
My son was looking at the Exxon annual report, public information, between 2003 and 2007 Exxon's sales have almost doubled. No doubt, the gasoline prices have almost doubled. The gross profit however has almost tippled. So when they say the prices of oil has gone up they also mean that their mark up on those prices have increased by an additional 50% over the last 4 years also. Congress investigates to appease the public and we hear nothing except that there was no law broken. What Congress does not tell us is really why the price of gasoline is going up. They don't want to look for a solution, like getting rid of the law that prohibits new refineries from being built. They don't want to show how the oil company mergers have wiped out half of their competition. Then take into consideration that the oil companies don't participate in price fixing. HA! For price fixing they would all have to get together to agree on a price. That would be illegal. Let the ignorant media do that dirty work for us. One of the oil companies will indicate to a reporter that oil prices have gone up and gasoline prices are going to go up in a few weeks. The reporter on national TV reports this information for all to see including all the other oil companies. The news report is the trigger for all the other oil companies to raise their prices and oddly all on the same day. Do you remember in the not so distant past when the news rarely mentioned anything about gasoline prices and those prices were more stable? I agree that the rising price of oil is part of the problem but the rising price of oil does not cause gross profits to increase an additional 50% in 4 years.
And then this morning there was the Expert from Consumer Reports indicating that is a waste of money to put premium fuel in a car that only requires regular fuel. That was true before there were computers, knock sensors and fuel injection in the modern car. I assure you my son and I both get about 10% better gas mileage by using premium fuel over regular. Simply put, higher octane fuels help to decrease the chance of engine knock. The computer can control engine knock/ping by listening through the engine knock sensor. If the computer hears a knock it retards the ignition timing electronically. Retarding the timing gets rid of the knock and decreases power and fuel economy. If the computer detects no knock it will advance the ignition timing until knocking is detected. Advancing ignition timing increases performance and in turn fuel economy. Remember, higher octane fuel is less likely to create engine knock than regular fuel. Premium fuel is a benefit if the mileage increase percentage is more than the price difference percentage. As fuel prices increase the percentage of price difference between premium and regular fuel tends to be less. Many years ago premium was commonly 50% more expensive than regular. Today it is about 8% more expensive.
Rant off. ;~)
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The price fixing is on the other end of the pipeline, and competitive pricing is further squelched by the throttling effect of limited refinery capacity. Excess capacity is excess overhead.
Suppose when the price of petroleum goes up one company decides to hold the line at it's stations and take the reduced margin. In a free market, consumers would be attracted by the lower prices and the company that held the line would increase its market share thus raising its net profit, albeit on a lower margin.
Problem is, that company cannot increase its supply to keep up with that increased demand. First of all, most companies are already operating their refineries at peak capacity. Also petroleum, like wood, is a natural product with considerable variation in its properties dependent on the source. If a refinery begins receiving feed from a different oil field it will have to retool to handle those differences.
Aside from those problems, petroleum is delivered on long-term contracts. Their suppliers, like everyone else's, are already pumping their quota and are not allowed to pump more. Other suppliers are already pumping their quota and under contract to deliver to other companies and so cannot (or will not) sell to the company with the lower prices.
So instead of capturing a larger market share, a company that undercuts it's competition would run short on product, soon losing at least as much market share as they initially gained.
Not all petroleum comes from OPEC nations, But enough does that they control the price on the world market.
--
FF


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Which means that our patriotic American Oil companies are selling us their domestically produced crude for the same price the Saudis are selling us theirs? Which, if true, I suppose is where Exxon-Mobil makes a good chunk of their $49 billion profit?
Whoever said there is no honor among thieves was right.
Dave in Houston
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Some people believe that they have to charge world market prices.
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Of course they do. If it's not stockholders demanding that world market prices be met, then some rich conglomerate would buy all the gas at the lower price and immediately bump it up to world market prices making an immediate, immense profit.
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Dave in Houston wrote:

Actually, $40 billion on $400 billion total revenue - or 10 cents on the dollar. The also paid $30 billion in income tax.

Check out MicroSoft. $51 billion total revenue with $14 billion profit - or 27 cents on the dollar! They did pay $6 billion in income tax. With that big of margin, I wonder why they charge so much since they have over 90% of their market? Oh, that's right, they're in business to make money for their investors, which includes my IRA funds.
I'm happy I invested in Exxon-Mobil - took the sting out of the current market downturn.

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On Wed, 23 Apr 2008 17:30:36 -0700, Doug Winterburn

I seriously doubt Exxon is paying $30B income tax on $40B net.
Renata

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Renata wrote:

I didn't say net. They paid $30 billion on $72 billion gross. Their net income was $40 billion.
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On Thu, 24 Apr 2008 07:44:06 -0700, Doug Winterburn

But this seems to indicate that their accountants are so bad that they paid 3/4 of their profit over to income taxes? Even 30B on 72B gross is way high. Corporate taxes these are nowhere near 42% these days.
Something smells funny here. I see the numbers, I just want to know the "rest of the story".
Renata
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wrote:

Corporate Income Tax Rates--2008, 2007, 2006, 2005, 2004, 2003, 2002, 2000
Taxable income over Not over Tax rate
$ 0 $ 50,000 15% 50,000 75,000 25% 75,000 100,000 34% 100,000 335,000 39% 335,000 10,000,000 34% 10,000,000 15,000,000 35% 15,000,000 18,333,333 38% 18,333,333 .......... 35%
Plus applicable state, plus any capital gains which are not favored on the corporate level.
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m...
You would want to get over 336,000, eh?
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On Fri, 25 Apr 2008 06:15:56 -0700 (PDT), Robatoy

Looks strange, but the system is set up to create "effective" tax rates. For instance, when you hit $335K the system maintains an effective tax rate, essentially a flat tax of 34% on all income to that point and up to $10MIL. From there, gradually goes up until you reach the top amount where the intent is for the effective tax, that is the tax on 100% of the income to be 35%
Frank
Frank
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Renata wrote:

http://finance.yahoo.com/q/is?s=XOM&annual
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On Fri, 25 Apr 2008 07:00:46 -0700, Doug Winterburn

Yeah, I looked up some numbers too. Can't imagine that, if this is the whole story, they're not crying publicly about how nearly 1/2 their mega, record setting profits are being turned over to the guvmint.
R
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