Report Calls Out Insurers for Half-a-Trillion Dollars in ‘Dirty Energy’ Investments

By | May 24, 2016

  • May 25, 2016 at 9:02 am
    Yogi Polar Berra says:
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    This is just a case of liberals (Ceres – allegedly a non-profit*) attempting to influence (i.e. shame) capitalists into the making wrong decisions based upon improper motives.

    * – I doubt that all people with ties to Ceres are NOT now invested in alternative energy companies; e.g. solar, wind, etc.

    As Hartwig said, insurers are very careful about their investments, especially after the near meltdown of AIG almost a decade ago.

    Anyone still have any shares in Solyndra?

    • May 25, 2016 at 11:10 am
      UW says:
      Hot debate. What do you think?
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      Yogi, how many conspiracy theories do you buy into, is there any scenario where you won’t create one? What evidence do you have that this group isn’t a non-profit?

      Since you pretend to view this through economics I will explain it to you like it’s a freshman economic course, which is still over your head. Climate change creates massive problems for people, the ones causing this problem are creating an externality by passing the effects of their actions onto others. They should pay for this, and the externality should be stopped.

      In the case of climate change the externalities are so large nobody could realistically pay for their externalities so the behavior should be stopped. Groups like this can have a role to play, but cannot do enough, the only groups capable of stopping these externalities, which harm other capitalists too BTW, are governments and multi-governmental organizations. They have been far too conservative in their approach since most of the models using the middle ground projections have underestimated the changes. My solutions would make your pea sized head spin.

      Now, explain your conspiracy theories on why this group isn’t a non-profit, why almost all climate scientists are in agreement on climate change, and why Exxon and other oil companies also created “fake” climate data confirming other climate change work but hid it, even though they should have released it since it’s not true and they therefore had to fake it to confirm the conspiracy.

      At this point it’s safe to say if you don’t believe in climate change you are an idiot.

      • May 30, 2016 at 1:35 pm
        Yogi Polar Berra says:
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        I buy into 39 conspiracies theories, currently. Let me get back to you on this at the end of the week, after I study a few more, and I’ll update that number.

    • May 25, 2016 at 2:21 pm
      Agent says:
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      Good one Yogi. We have seen how valuable investments in Solar and Wind have been after giving them all those subsidies. T Boone Pickens, the famous oil and gas magnate tried to put a bunch of those windmills in west Texas, couldn’t make it work, so he went back to natural gas, the clean burning fossil fuel.

      Climate Change is the most serious national security threat that this nation has. BHO

      • May 25, 2016 at 3:24 pm
        confused says:
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        please stop spreading misinformation. a google search and clicking of the first link proved your post to be false

        “Although the plan calls for introduction of various alternatives to oil, including wind and solar, its major component is the conversion of the nation’s commercial transport sector away from OPEC diesel to natural gas

        His plan was ALWAYS to convert from oil to natural gas. He “couldn’t make solar/wind work, so he went back to natural gas” is blatantly false. please stop spreading misinformation.

    • May 27, 2016 at 5:36 pm
      Agent says:
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      Yogi, judging from the reactions from the Save the Earth, Climate Change, Global Warming, Tree Hugging crowd on this forum, I think we have hit their nerve big time. There is very few groups I can think of as despicable as Progressive Socialists who have bought into the lie hook, line and sinker and seek to silence anyone who might disagree with their agenda.

      Now Progressives, you can downvote me at least 100 times.

      • May 28, 2016 at 12:58 am
        Captain Planet says:
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        Agent, like Jesus would ask of me, I have nothing but love for you. Yes, we give each other a hard time quite a bit out here. But, I don’t hate you, I pray for you. No agenda here, I just think we should take care of the planet the best we can. God’s gift to us all. It’s a living thing, let’s do our best not to poison it.

  • May 25, 2016 at 9:05 am
    Yogi Polar Berra says:
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    Only half a Trillion dollars invested in ‘dirty’ energy?

    Double down!

    • May 28, 2016 at 1:03 am
      Captain Planet says:
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      Man, snake eyes. Pay the house. Trump called and said that attitude is LOSER. Like Romney and his penguin walk (Trump’s words, not mine).

  • May 25, 2016 at 10:23 am
    Tim says:
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    His reasoning is BS, stranded assets on the books of insurance companies. GAAP and Statutory reporting requires a company with investments to review them periodically for impairments whether available for sale or held for investments. This impairment, if any, due to reduced valuations, would go directly against the value of the security held and record a loss to income. There would be no stranding, once an investment is down to zero, and is deemed worthless with no recovery it would be removed from the inventory.

    If a company has assets that are available for sale, any loss in value is already affecting other comprehensive income (part of shareholders equity) so it is already impacting book value per share of a company.

    His motive is a pure vote grab in a liberal based state that has tree huggers in it. If he is so concerned about insurance holdings he should warn against investing in California based communities. Anyone remember Orange County, California mess! Bet that hurt investors more than the fossil fuel.

    I hate nothing more than a lying politician, with a hidden agenda, trying to sound like he is looking after insurance companies and policyholders.

    • May 25, 2016 at 12:12 pm
      Fair Playing Field says:
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      Good post, Tim.

      This truly is another case of Commissioner Jones exceeding his authority for political gain.

    • May 25, 2016 at 6:42 pm
      Yogi Polar Berra says:
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      Good post, Tim!

      If I have time tomorrow, I’ll add my replies to my critics above.

      For now, let me clarify; Ceres is truly a non-profit because it takes no risks, so no rewards are earned. However, the people involved in Ceres are almost certainly holding stock in ‘clean energy’ companies. I’ll posit Al Gore as an example of a person involved in non-profits who profits in stocks of other entities that do take risks.

  • May 25, 2016 at 12:46 pm
    UW says:
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    You don’t seem to think stranded assets exist, or don’t seem to get the point about them. A massive loss of investment assets like this could be terrible for companies. Having millions of dollars in assets turn to junk relatively quickly is bad regardless of how you record it in your books.

    You got your requisite tree hugging liberals lines in, of course, but you forgot to point out that AL Gore is fat. If you think minor investments in various parts of California are anywhere near as dangerous as wide scale investments in these energy companies you are nuts, and clueless. The state has a surplus, unlike the conservative economic bastions in places life Kansas.

    • May 25, 2016 at 2:12 pm
      Captain Planet says:
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      Of course they still deny climate change, UW. A typical modern conservative is afraid of any type of change. Technological change, Andrew Jackson on the $20 change, no more rebel flag on the Capitol building change, first black President change, first female President change, climate change, sex change…

    • May 25, 2016 at 6:44 pm
      Yogi Polar Berra says:
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      How did AlGore get fat without earning profits to eat? Did he forage for food on his numerous properties and cook the food on a camp fire? Hmmm?

      • May 25, 2016 at 10:37 pm
        UW says:
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        This company has nothing to do with Al Gore. Gore hasn’t said he is against profits, in fact he is a conservative, corporatist Democrat; what he is against is companies and people destroying the planet and making a profit on it. Granted, as a conservative you have a Manichean worldview, and those things don’t exist, don’t matter, and/or are explained away with conspiracy theories.

        Gore donated 100% of the profits from the film, which too goes against your idiotic theory, moron. You are so clueless on basically everything I have seen you comment on. I don’t think you have every put forward an original opinion not fed to you through right-wing media–you are totally, completely thoughtless. Nothing but ignorance and lies from you.

      • May 27, 2016 at 1:54 pm
        insurance is fun! says:
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        You wackos crack me up. Still running against Al Gore. You can’t fall in line behind your current candidate, so you dredge up the past where you stole an election just to rub it in.

  • May 25, 2016 at 3:42 pm
    Glenn says:
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    “Ceres is, after all, an advocacy group with a point of view which they regularly put forward,” That point of view is clearly a liberal one. I wish they would keep their nose out of the insurance companies’ business. Despite what they would have you believe, there are many top notch scientists who are “Deniers”.
    I have no concern that investments in fossil fuels will prove problematic – ever. What are cars going to run on. Algae? Without coal and other “dirty energy” how will electricity be generated? If you say nuclear, I am fine with that but the opponents of “dirty fuels” will undoubtedly say “No Nukes”.

    • May 25, 2016 at 4:59 pm
      UW says:
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      So, you disregard almost all climate scientists, and the vast preponderance of decades of independent research, and you think this group has no place to comment based on the fact that they are liberal; those views are idiotic.

      You are 100% unqualified to talk on this and be taken seriously. And yes, most will say no nukes, because all the evidence is that again the externalities are too large for any private company to handle. They are uninsurable, dangerous, and expensive. Private capital has not financed nuclear, it has to be subsidized by government, just like the costs associated with accidents, and the waste byproduct.

      But I might be liberal, so by your definition I’m not allowed to talk about it. No wonder conservatives believe almost nothing but nonsense.

      • May 25, 2016 at 6:46 pm
        Yogi Polar Berra says:
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        You wrongly assume there is a ‘preponderance’ of independent research. In fact, it is biased and not credible. We have numerous stories about data censoring by / in these ‘independent studies’. Claiming a preponderance of independent research is either arrogant or ignorant.

        • May 25, 2016 at 10:41 pm
          UW says:
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          No, I don’t. You wrongly think that a few bullshit stories that aren’t scientific are relevant, or that non-peer reviewed theories that are already disproven hold equal weight to decades of independent, peer reviewed research. This is because you are stupid, and/or because it confirms what you want to believe.

          For example, you have been on here spouting your moronic, ignorant lines about the ice at the poles expanding. In reality, the mass of the ice has decreased, and even though there has been more surface area for very brief periods there is significantly less ice. The BS stories you point to used satellites that cannot measure ice in 3 dimensions, and are therefore not capable of determining the amount of ice. This study has been linked by you multiple times, even after it was disproven, and you always scream about “data editing” when people point it out. You are full of crap, and a total Agent-level clown.

          Your entire worldview, and everything you say relies on ignorance and conspiracy theories.

          • May 26, 2016 at 3:11 pm
            Yogi Polar Berra says:
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            Thanks for your OPINION about the validity of ‘stories’ (not research) that aren’t scientific…. which you posit as facts.

            But no thanks are owed to you for introducing ‘indictments’ and vulgar language, which signals the end of civil, adult conversation and the start of high school maturity feuding.

          • May 27, 2016 at 10:52 am
            UW says:
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            Yogi, there is no discussion with you, don’t act like it’s because your are so offended when everything you write is an insult to the intelligence of anybody has ever read a book, and you constantly post lies. People present the undeniable fact that over decades almost all the climate scientists have come to a consensus on the topic, and their peer reviewed data supports this; you lie and say it’s opinion, cry about tone, and run away. High school would be a step up for you.

            Go post more disproven lies for Confused and Planet to shoot down, and then never reply, idiot.

            Also, moron, I didn’t post opinion, I posted about specific stories you have spammed with, and why actual research has shown it to be wrong, as well as the basic reasons for this.

          • May 27, 2016 at 4:54 pm
            Yogi Polar Berra says:
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            When you point your middle finger ’cause your plan fell through, you’ve got three more fingers pointing back at you.

  • May 25, 2016 at 4:33 pm
    Michael Arnett says:
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    Pull all the money out of this industry over the next 10 years and the USA goes black. At least it would stop ridiculous articles like this.

    • May 25, 2016 at 4:41 pm
      Agent says:
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      Correct Michael, no power, no lights, no computers to do business with.

      “Under my plan, electricity and other fuel costs will necessarily skyrocket” – Barack Hussein Obama while campaigning for his first term.

      • May 26, 2016 at 8:52 am
        confused says:
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        OMFG. stop spreading misinformation and leaving out necessary context from your “quotes” of what people said, part 2.

        “Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket…they would have to…retrofit their operations. That will cost money. They will pass that money on to consumers.”

        You make it seem like his plan has failed, but the plan never made it out of Congress and wasn’t enacted as law.

    • May 25, 2016 at 5:09 pm
      UW says:
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      Good thing nobody serious is calling for outside of conservatives creating fictitious scenarios and fantasy worlds to validate their denialism and conspiracy theories. The Obama administration’s plan is a 32% reduction in carbon output in the next 14 years. Of course under your fantastical scenario power just stops, but in reality it is replaced with other sources of power.

      • May 25, 2016 at 5:19 pm
        Captain Planet says:
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        Come on, UW, you know better. Reality doesn’t fit the Faux News/El Rushbo/Drudge/Mark Levin narrative. Get off their lawn, you punk liberal!

        • May 27, 2016 at 2:11 pm
          UW says:
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          They can’t even form a coherent defense of it anymore. It’s 100% conspiracy theories and just saying no, as if that’s a defense. Every source they have posted here they I’ve looked into has been clearly false, totally debunked and usually fraudulent.

          Also, it’s awesome you picked up on my (or also came up with) Get Off My Lawnisn. It’s a core driver with many conservatives, and I’ve never seen it apply to a person more than it does with Agent.

      • May 25, 2016 at 6:49 pm
        Yogi Polar Berra says:
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        How is electricity produced to charge electric cars? Partly by burning coal. Quite a hypocritical dilemma for Prius and Volt owners.

        • May 25, 2016 at 10:43 pm
          UW says:
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          Also by solar, wind, etc., which would be much more prevalent if oil companies, the politicians in their pockets, and the liars–like you–didn’t do everything possible to block it for the last 40 years.

          Crack a book dolt, oh wait, it might have actual information which would go against your worldview. Quite a dilemma for a righteously ignorant person.

        • May 26, 2016 at 3:13 pm
          Yogi Polar Berra says:
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          Feel the coal Bern… to fuel the Priuses and Volts!

        • May 26, 2016 at 5:22 pm
          Agent says:
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          Hey Yogi, isn’t it fun to argue with the Progressive crowd? Wind/Solar produces less than 5% of our power and yet they think it is an important source of power. They also think Algae or Cow Dung is very promising as a fuel. Planet’s state would pretty much cease to exist if they weren’t making ethanol out of corn and getting all those subsidies to do it. By the way, ethanol harms engine injectors as any good mechanic will tell you.

          • May 27, 2016 at 10:56 am
            UW says:
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            Great point Agent. Remember when fire was 100% of all energy, and we stayed with it forever, because it’s impossible to advance or change anything? Don’t you wish those damn punk kids would get off your yard with their electricity?

          • May 27, 2016 at 11:31 am
            Captain Planet says:
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            Yes, you are right Agent. Iowa didn’t exist before ethanol. Spot on!

            Just when I thought you couldn’t possibly be any dumber, you go ahead and type something like this….and TOTALLY REDEEM YOURSELF!

          • May 27, 2016 at 2:17 pm
            UW says:
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            Agent, his state should “cease to exist,” as you moronically call it if they are based entirety on ethanol subsidies. But, idiot, most of the corn subsidies are for food, but ethanol. And of course the demand for corn as a food wouldn’t go away with renewable fuels.

            Funny you rant about the subsidies for corn when your state is driven by oil, which is effectively subsidized by the government, and is only affordable because of the externalities it passes on. Oh wait, in your td fantasy those don’t exist.

          • May 27, 2016 at 5:00 pm
            Yogi Polar Berra says:
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            No, Agent, it’s not fun to debate with Progressives.

            I’m not sure about algae, but they sure are good at flinging cow dung around in the form of words they use in replies when they’ve become frustrated by those pesky things called facts.

            Uber me up, Scotty! There’s no intelligent life down here in Planet’s comments.

  • May 25, 2016 at 6:51 pm
    Yogi Polar Berra says:
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    Any liberals out there burning charcoal to grill burgers and franks for the upcoming Memorial Day parties? C’mon; raise your paws, er, hands.

    • May 26, 2016 at 12:14 pm
      Agent says:
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      Good one Yogi. By the way, the EPA has already came out wanting to ban back yard grilling saying it will harm the environment. If they had their way, we would be eating cold Tofu on Memorial Day.

      • May 26, 2016 at 1:22 pm
        Bill says:
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        Agent, another instance of your lack of understanding the truth… The EPA is not trying to ban back yard grilling. A simple internet search provides various articles on this topic. I assume you can do that..right? If not, here is one article:
        http://www.factcheck.org/2015/07/the-epa-will-not-regulate-your-barbecue/

        • May 26, 2016 at 1:32 pm
          confused says:
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          apparently he cannot, nor can he admit he made a mistake or misunderstood/misquoted something either.

          his reply will likely be off-topic and insulting, but definitely won’t have anything to do with admitting he was wrong.

          see my two ‘stop spreading misinformation’ comments above for the most recent batch of evidence of his “communication” techniques.

          • May 26, 2016 at 3:17 pm
            Yogi Polar Berra says:
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            If you’re coal is gone and you wanna grill on, PROPANE!
            If you’re liberal and you want to grill out, PROPANE!
            She won’t fry, she won’t fry, she won’t fry… without PROPANE!

          • May 26, 2016 at 4:04 pm
            confused says:
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            thanks Slowhand! :)

          • May 27, 2016 at 9:12 am
            Captain Planet says:
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            Yogi, how’s that frying going on your gas grill?

        • May 26, 2016 at 2:10 pm
          Captain Planet says:
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          Again, Bill, that’s not what Faux News and Drudge told Agent. And, he drinks from their fire-hose of misinformation.

          • May 26, 2016 at 5:40 pm
            Don't Call Me Shirley says:
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            But Rush said so, and he has never lied in his entire life!

        • May 26, 2016 at 3:19 pm
          Yogi Polar Berra says:
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          Which EPA? Fed or state?

          • May 26, 2016 at 5:25 pm
            Agent says:
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            Yogi, we have so much energy now, we can export it to Europe since they will need it if Putin cuts them off. We could actually make some money from our energy. What a novel idea. My guess is that Trump will let the energy people do it and slow down the balance of payments deficit that is crippling the country.

          • May 27, 2016 at 9:14 am
            Captain Planet says:
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            Agent, your teeth have so much tartar, you don’t have to dip your fish sticks in anything!

          • May 27, 2016 at 10:09 am
            Rosenblatt says:
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            Agent – do you even like fish sticks?

      • May 27, 2016 at 1:56 pm
        insurance is fun! says:
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        Hee yuck. You are too funny.

      • May 27, 2016 at 5:02 pm
        Yogi Polar Berra says:
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        Darn! The BOTS invaded the Memorial Day sub-thread section! They’re worse than ants at a picnic, or in a picnic basket.

      • May 30, 2016 at 1:40 pm
        Yogi Polar Berra says:
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        I helped grill a big plate of burgers and franks and chicken on a BBQ grill stuffed full of charcoal. Yum! Sorry about all those carbon emissions, tree-hugger greenies! I was hungry and there were no picnic baskets left unattended nearby.

  • May 26, 2016 at 2:55 pm
    B.Right says:
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    Hartwig has it right. Insurers are keenly aware of their investments and are not going to let politics cost them. Exxon and Chevron are paying right around a 4% dividend right now.

    Even the liberal Buffett knows dirty energy is a good investment, which is why he’s increasing Berkshire’s holding in Phillips by 20% this year.

    • May 26, 2016 at 5:27 pm
      Agent says:
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      Uncle Warren likes to transport the oil on his trains. He got the pipeline killed (for now) but it will happen next year. We can also use the construction jobs that even the unions wanted.

  • May 27, 2016 at 10:14 am
    Captain Planet says:
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    Listen Agent, no one is saying you are a racist because you support Trump. All we are saying is, if you support Trump, you obviously don’t have a problem with racists. And that’s a problem.

    • May 27, 2016 at 5:03 pm
      Yogi Polar Berra says:
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      Goo gul “Straw Man Argument”, please.

  • May 27, 2016 at 2:14 pm
    Captain Planet says:
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    Yogi,
    No one is suggesting Agent wants to sleep with his daughter. But he does support Trump, who did want to sleep with his daughter. So, there’s that.

    • May 27, 2016 at 5:07 pm
      Yogi Polar Berra says:
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      I’ll wager that you don’t understand “Straw Man Argument”. I’m willing to risk as much as a few picnic baskets on it.

      • May 27, 2016 at 5:21 pm
        Captain Planet says:
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        Well, like a Republican in the last 2 Presidential elections, you lost. Just fill the baskets with some good craft IPAs. I can share with my lake brethren over Memorial Day Weekend.

        No, absolutely not! I am not saying Agent cares what size a 1 year old’s breasts are going to be when she grows up. But The Donald does, his own daughter none the less, and Agent supports him, so…

        http://www.people.com/article/donald-trump-daughter-tiffany-body-daily-show

        • May 30, 2016 at 1:42 pm
          Yogi Polar Berra says:
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          Goo gul “Straw Man Argument” anytime before you post again.

          • May 30, 2016 at 1:47 pm
            Yogi Polar Berra says:
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            Let me give you an example of a Straw Man argument you can understand….

            Bill Clinton was found to have rode on The Lolita Express several more times than was previously reported; about 30+ times versus about a dozen and a half previously reported.

            I’m sure Bill Clinton has visited / will visit a National Cemetery today, to honor fallen members of the US Military. (sarcasm)

          • June 2, 2016 at 3:56 pm
            Agent says:
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            Yogi, these people are outraged that the agenda they believe in so rabidly has collapsed like a house of cards. One disaster after another. Obamacare leads the pack with so many exchanges failing, 60% rate increases in many places with no end in sight until the disaster is completely repealed and replaced. Brainwashed is what they are and it is an ugly sight to behold.



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