Word: oiled
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...Today, China, the gulf nations and other state capitalists have amassed the largest sovereign wealth funds in the world. The world's state oil companies control some 90% of global energy resources. (Many of these companies invited in private investors in the 1990s only to throw them out later.) And by protecting parts of their economy at a time of massive global business consolidation, the state capitalists have built companies capable of competing, and winning, in industries that require scale. According to a study by the American Enterprise Institute research organization, unfree states have grown faster than politically free ones...
...never thought I'd be agreeing with Republican Senator Richard Shelby from Alabama, but my assessment of the current bank bailout conforms with his response: No! Invest in infrastructure, home weatherization, worker-retraining, green-collar jobs and whatever will move us away from our oil addiction. Rather than doubling down on our already obscene national debt, we should face up to letting the chips fall and reorganizing our lives and economy around a sustainable paradigm. Bruce Garver, Murrieta, Calif...
...open your country - open your economy at home, open your companies to trade with the world, and open up your politics. But the new state capitalists challenge that wisdom. They encourage private enterprise and foreign investment. At the same time, they retain control of certain key industries, like oil or automaking, use state support to grow these industries, and then unleash state-backed firms into the global marketplace. Mostly authoritarian regimes, the state capitalists also keep a lid on politics by using growth to co-opt their middle classes...
...never thought I'd be agreeing with Republican Senator Richard Shelby from Alabama, but my assessment of the current bank bailout conforms with his response: No! Invest in infrastructure, home weatherization, worker-retraining, green-collar jobs and whatever will move us away from our oil addiction. Rather than doubling down on our already obscene national debt, we should face up to letting the chips fall and reorganizing our lives and economy around a sustainable paradigm. Bruce Garver, Murrieta, California...
...What makes the turnabout more striking is that the Democratic challengers aren't particularly strong candidates. Several are inexperienced; others are more liberal than their states. Many seemed almost struck dumb when, as gasoline prices soared this summer, Republicans hit on the suddenly popular idea of drilling for more oil. But the market meltdown has replaced $4-per-gal. gas as voters' top concern, and ever since Herbert Hoover, voters have looked to Democrats in economic hard times. "We're not catching a break," laments Nevada Senator John Ensign, Schumer's GOP counterpart who runs the National Republican Senatorial Committee...