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Rick Santelli’s Sense on Cents

Posted by Larry Doyle on December 26, 2011 12:51 PM |

Many of our expert analysts in Washington, on Wall Street, and throughout our land are consumed in a debate about the finer principles of Keynsian vs Classical economics.

Our economic and political wonks can debate all they want because ultimately the debate regarding our nation’s economic health is a function of basic math.

Let’s take a quick look at Rick Santelli’s class on ‘sense on cents’. I think everybody who sits in on this 2 minute tutorial can fully understand that the math being utilized in our nation’s capital —and many state capitols as well—possesses few of the basic principles of ‘sense on cents’ and is actually more a game of charades than anything else.

Thanks to the regular reader who provided this link.

Rick Santelli Math Class, aka Sense on Cents

Class dismissed.

Larry Doyle

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I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.

  • TeakWoodKite

    LD, an OT question if I might. Where might I find a state by state list of PUC contracts for solar energy?

    I have been following the investment side of it and saw recently some articles complaining of the CA PUC entering into contracts that have rate payers paying the “points” for the private investment capital. I suspect this is a national trend and was curious what the “topology” of this scam looks like. It smells so sub-prime”….

    Thanks in advance if you can point to the right direction

  • LD

    TWK…I wish I knew where to start to try to point you in the right direction but regrettably I am at a loss in knowing how to navigate this part of our economic landscape.

    Sorry!!

    • TeakWoodKite

      No big, LD because it never hurts to ask. I will keep you apprised of my efforts to navigate these rocky shoals.

      PUC boards are very political animals. When a solar company invests in solorpower grids, like we have seen in the news, and then I read..(for example)http://www.renewableenergyworld.com/rea/news/article/2011/11/california-approves-solar-contract-despite-its-high-cost

      it describes a pump and dump with the taxpayer taking it where the sun doesn’t shine. Given how underwitten the entire industry is by DOE loan guarantees and State give aways… reaching any “solar energy” economy of scale that can sustain itself isn’t possible at under “4.50 cents a gallon at pumps.” (Wait until carbon credit market offsets weasel their way in to the economic mix)
      Half of me wants to understand the big picture, nationally and the other is curious if there is an positive investment stream to be had.
      I am not in any way against alternative energy, it should simply reflect a true cost and if state contracts are let to the lowest bidder why then is energy any different?

  • David T

    Excellent course in basic “home economics.” The congress is not doing “enough”? I’d say they’re not doing anything about the problem. DT






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