State of the Superpower

Today Ford, Chrysler, and General Motors pleaded with Congress for a $25 billion bailout package, warning that the failure of any single auto maker may have negative effects on the broader economy.
In a Tuesday CNN interview, Ford CEO Alan Mulally went as far as to claim a healthy Detroit was essential to the U.S. economic […]

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Huntington, West Virginia is America’s most obese city, but locals don’t seem to care. Over half the city’s 49,000 residents are clinically obese.
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Also, nearly half of Huntington’s 65 and over […]

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When the bailout bill passes, and despite all the rhetoric and posturing, it will pass, Wall Street could feel the fallout for years to come.
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And that fallout comes in the form of middle America’s disgust with the market, as they see […]

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Still searching for rock bottom, American home foreclosures rose 14% the second quarter of this year. Of the country’s largest 100 metro areas, 95 report a rise in foreclosures.
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The California cities of Stockton, Riverside/San Bernardino, Bakersfield, and Sacramento take four of the top […]

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After dropping $5 a barrel yesterday, oil prices rose $2 today after Iran tested 9 long and medium ranged missiles over the Strait of Hormuz. The Shahab-3 missile is capable of striking Israel and also American forces stationed in Iraq.
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Again, we see it […]

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There was more bad news for the American housing market today as S&P/Case-Shiller home-price index showed U.S. housing prices dropping again in April for the twenty-first consecutive month.
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According to the 20 city home price index, house values shed 15 percent of their value […]

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Yesterday Republican presidential candidate John McCain called for the construction of more nuclear power plants. Mr. McCain wants 45 new nuclear reactors online by 2030.
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Despite currently receiving 20 percent of its electricity from nuclear power, there hasn’t been a new nuclear power plant […]

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If elected in November, Republican candidate John McCain would support offshore oil drilling along the United States’ coastline. Renewed drilling would end an offshore exploration moratorium that dates to 1981.
In general, coastal state governors oppose offshore drilling. To get their support, Mr. McCain suggests that states receive a share of gas and oil royalties.
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Last week’s forced resignations of Air Force Secretary Michael Wynne and Chief of Staff General Michael Moseley may also mean the end of production for the F-22 Raptor. Defense Secretary Robert Gates has already cited the $132 million fighter jet as an example of misplaced military priorities.
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Yesterday California voters passed the Homeowners and Private Property Protection Act, better know as Proposition 99. Proposition 99 prohibits government agencies from using eminent domain to take owner-occupied property private development.
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Proposition 99 is a response to a 2005 Supreme Court ruling allowing the Connecticut redevelopment authority […]

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