About the Author

Richard Cochrane is trained in chemistry and metallurgy but is far more interested and practiced as a political and fund raising consultant, writer and amateur historian. He grew up in a Navy family and with his two younger brothers carried on its 500+ year tradition of naval service to Great Britain and the USA then enjoyed a career with one of the largest advertising and public relations agencies working with numerous Fortune 500 companies and many of America's premier educational institutions. He maintains friendships and acquaintanceships around the world. He lives in Santa Barbara, California.

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AMERICANS SUFFER WHILE CONGRESS AND CANDIDATES ARGUE

June 26th, 2008 • Richard Cochrane
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The gremlins are alignedALARMING PERFECT STORM SLAMS STOCK MARKET

Upon news of a “perfect” storm the DOW collapsed today dragged backward by record per barrel oil, threats of corporate tax increases and windfall profit taxes, new taxes on investors, opposition to increasing domestic oil production and $7 per gallon fuel costs that impact companies from General Motors to Blackberry and predicted declining sales and earnings. Countrywide announced it is cutting 7,500 jobs.

The GOP introduced a bill in Congress to increase domestic oil production including offshore drilling and dropping the oil shale moratorium, adding incentives for alternative fuel vehicles, restrain speculators and keep away from ANWR.

Barack Obama spoke platitudes about “setting goals for energy” as the stock market collapsed he said the Federal Reserve needs from Congress, and called for a second stimulus package. He said the problem now is much more serious than in the early 1990s. He said ending the Iraqi War would help the domestic economy. He had no concrete suggestions. Clearly Obama is banking on a basket of untested and as yet undeveloped techniques to replace oil based fuels but nothing to change anything for 10 years. As he spoke oil touched $140 a barrel and the DOW averages dropped 358 points.

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