A Quote by Michael Hudson
I think the less fracking there is, the better it is for the economy and society.
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The US economy, because it's so energy wasteful, is much less efficient than either the European or Japanese economies. It takes us twice as much energy to produce a unit of GDP as it does in Europe and Japan. So, we're fundamentally less efficient and therefore less competitive, and the sooner we begin to tighten up, the better it will be for our economy and society.
Nothing could be better for the economy than to get rid of fracking.
While she [Hillary Clinton] promotes fracking and established an office as secretary of State to promote fracking around the world. The cutting edge science now suggests fracking is every bit as bad as coal.
Economy is the basis of society. When the economy is stable, society develops. The ideal economy combines the spiritual and the material, and the best commodities to trade in are sincerity and love.
[Hillary Clinton'] transition director being Ken Salazar, I think, indicates that she will continue to be a friend to fracking. It's not possible to solve the climate crisis while we continue to expand fracking.
Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society – and especially in the economy – as doing something different rather than doing better what is already being done. This is basically what Say, two hundred years ago, meant when he coined the term entrepreneur.
The more you become a part of society, the less and less you are an individual, the less and less you are spontaneous - because the very membership in the society will not allow you to be spontaneous. You will have to follow the rules of the game. If you enter a society, you accept to follow those rules that the society is playing, or has decided to play.
Other than areas of high-tech, fracking is probably one of the largest areas where concentrated growth in America's economy is taking place. There are oil booms in the Dakotas, in North Dakota. They are having to build entire cities, towns, to house employees showing up to work in fracking. The left is trying to shut it down under some claim that it destroys the environment. Natural gas and oil, of course, are the evil twins of opposition to the mainstream environmentalist wacko movement.
Let's stop fracking. Who knows about hydraulic fracking? I'm like, whodie, get that oil out the ocean!
So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after paying taxes and after paying the FIRE sector (Finance, Insurance, Real Estate). Whether it's housing insurance or mortgage insurance. So there's an idea of distracting people. Don't think of your condition. Think of how the overall economy is doing. But don't think of the economy as an overall unit. Think of the stock market as the economy. Think of the rich people as the economy. Look at the yachts that are made. Somebody's living a lot better. Couldn't it be you?
I think you can grow your economy and at the same time do a better job of harnessing greenhouse gases. I don't think you can expect any American leader to wreck the economy, nor as an ally and a friend of America and a trading partner of America should you want us to wreck our economy.
The West has been able to bring Afghanistan a much better health service, better education, better roads, a better economy, though some have benefited more; some have benefited less from that economic well-being in Afghanistan.
I think what is being pointed out by African-Americans is that from slavery forward they have been living in a supposed democracy which treats them as less than other citizens, less than whites in the society. And I think that pointing out that there are structures of discrimination in the society, deeply rooted racist structures, that segregate housing, that send black children to ill-equipped schools, that discriminate in the workplace - these are truths about our society that must be faced.
A free economy is as essential to society as democratic political institutions. A strong market-based economy is the fertile ground for democratic freedoms that we think are important.
Even if it does not become cashless economy, it will become a less cash economy, and I think that itself is going to be a good and big achievement, and I think we are, as a country, gone through many of large changes, and ICICI has been a leader in many of them.
Oil now, as a result of the Saudi production, is priced so low that there are not going to be new fracking investments made. A lot of companies that have gone into fracking are heavily debt-leveraged, and are beginning to default on their loans. The next wave of defaults that banks are talking about is probably going to be in the fracking industry. When the costs of production are so much more than they can end up getting for the oil, they just stop producing and stop paying their loans.
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