KevinB

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    • Wed Jul 9th 22:03 PM | Rating: 0 0
      Commented on:
      The Disastrous Future of the U.S.
      To paraphrase Yogi, you can learn a lot by just looking. As I read up on Hazel, I also read about Hurricane Carol that same year. Carol was a weak Cat II/strong Cat III 'cane that hit Long Island and Connecticut in 1954. So if a Cat III storm can hit within 50 miles of NYC, I'd have to say it's a certainty that such storms COULD hit New York; whether they ever WILL is impossible to predict.
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    • Wed Jul 9th 21:39 PM | Rating: 0 0
      Commented on:
      The Disastrous Future of the U.S.
      To Thomas F.:

      Not that I disagree with your major points, but Hurricane Hazel hit Toronto, Ontario in October, 1954, with winds just a few mph below Category 3 strength - and that's hundreds of miles farther inland than NYC (and more than 1,000 miles after landfall).

      So, it is possible, though I agree unlikely, that a Cat III 'cane could hit Manhattan.
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    • Fri Jul 4th 06:19 AM | Rating: 0 0
      Commented on:
      Oil and the Futures Market
      User221381's suggestion to sell all the gold in Fort Knox is remarkably stupid and uninformed. The 147 million (approx.) ounces at Ft. Knox is worth about $139 billion (approx.) today. If the US attempted to liquidate that amount of gold, a number of things would happen:

      1 - The price of gold would plunge, making the total proceeds to the US government far less than the $139 billion noted above.

      2 - Even if, by some miracle, the US managed to realize that $139 billion, that amount is about 4 months' worth of the current account deficit. Any support it would provide to the US dollar would be momentary at best before the dollar again began its downward slide.

      3 - The sight of the US government selling - you should excuse the phrase - the family silver would remove any last vestige of confidence in the dollar and would result in an even faster and deeper decline than today's environment of jawbones and crossed fingers.

      Nice try, though. We welcome more of your enlightened thinking for our alternate edification and amusement.
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