Elephant Heard

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High Gas Prices: A feature, not a bug, of the Obama economy?

So says his Energy Secretary!

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An Open Letter to Joe Kennedy III Regarding His Possible Candidacy for Congress in Massachusetts

A very direct question from U.S. Representative Connie Mack, a member of the Foreign Affairs Committee and the Chairman of the Subcommittee on the Western Hemisphere.

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“I realize there are some wealthy individuals – I’m not one of them”

Professor Elizabeth Warren, you might remember her, the senate candidate who when speaking of the Occupy Movement said, ‘I created much of the intellectual foundation for what they do. … I support what they do‘.

Speaking on MSNBC this week she again identified with the 99%, despite a net worth of $14.5 million that would place her well within the 1% she  demonizes.


 “I realize there are some wealthy individuals – I’m not one of them, but some wealthy individuals who have a lot of stock portfolios” she told him.

Hard to see how Warren wouldn’t be, by most standards, wealthy, according to the Personal Financial Disclosure form she filed to run for Senate shows that she’s worth as much as $14.5 million. She earned more than $429,000 from Harvard last year alone for a total of about $700,000, and lives in a house worth $5 million.

She also has a portfolio of investments in stocks and bonds worth as much as $8 million, according to the form, which lists value ranges for each investment. The bulk of it is in funds managed by TIAA-CREF.

Warren would not, of course, be particularly wealthy by the tony standards of the Senate. But she’s also unlikely to draw the sort of popular identification with her financial status that might attach to Marco Rubio, whose home is underwater.

And efforts to pass herself off as one of the 99% for whom she aims to speak appear likely to backfire.

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Billionaire Crony Capitalism: Are You For It or Against It?

Forget about the tax rates of Warren Buffet and his secretary–that’s just a smoke screen. What’s really important to him is the government decisions that help his investments.

Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline permit.

With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.

And on the subject of billionaire Obama supporters and how their interests just seem to benefit from government policy decisions:

George Soros, a billionaire investor and major backer of President Obama, stands to reap a windfall from legislation promoting natural gas-powered vehicles. The White House unveiled a proposal on Thursday that would do just that.

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The Next Time a Democrat Complains about the “Do-Nothing” Congress . . .

remind them of this

“Tomorrow will mark a sad milestone in the history of the United States
Senate: the 1,000th day since Senate Democrats last offered a budget plan to the
American people. ”

(Hat Tip: National Review)


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