Let’s take a break form crazy politics today. Paying down debt leads the planned use of repatriated dollars – good thing because corporate debt hit new highs as of 2016.
Note the surge in oil production under President Obama. Isn’t that a surprise. President Obama coincidentally happened to enter office just as the shale oil boom in the U.S. was getting started. The vast majority of the increase in U.S. oil production occurred on private land. On land that the U.S. government controls, it was a different story. Obama couldn’t stop oil production on private land. However, he pretty much halted it on public land. President Trump is taking the opposite position and opening up federal lands to oil exploration. Personally, I would like to see the US become the dominant oil producer.
Authoritarian regimes all eventually collapse. The reason is not because of a lack of willingness to torture and murder their citizens, but because economies don’t do well under authoritarian regimes. Check Venezuela, Cuba, the USSR, North Korea. I believe the same will happen in China and much sooner than the pundits predict.
Now this is very good news – and despite increased number of flights and air miles flown.
China definitely knows how to put on a show. China used more concrete in the three years between 2011 and 2013 than the whole of the United States used in the 20th Century. Can it last?