May 31, 2010

Defeating the Rule of Oilzilla



  1. We’ll get stuck with the tab over this,hide and watch.
    Not only will the people have to pay for the clean up but since the lost oil will mean shortages,they’ll ratchet the price up to $5.00 bucks per gallon.

    The OPEC accords tied the price of oil to the strength of the US Dollar.
    When the dollar gains value the price of oil drops.
    When the dollar is devalued the price of oil goes up.
    Remember stagflation?
    The oil goes up in price and so the price of everything goes up too.
    The Government strapped for cash prints more money,devaluing the dollar so the price of oil goes up again and so on,infinitum.

    A lot of People are ignorant of the fact that the sub-prime lending mandated by the Bush Administration was subsidized by printing Fiat money.(see above)
    I always hated to agree with our long lost fiscally conservative friend(forgot his name),but along the lines of Bush’s ill-advised policies of printing money(for the sake of winning even more dullards under the GOP big tent)I sadly agreed with much of what He/She had to say.
    But for one exceptional point:
    A flat tax is so much rubbish!
    Why should anyone making less than $40,000 per year pay any taxes while the top 1% pay nothing,nada,zilch,zero?

    That tax cut for the wealthiest not only cost us an estimated six trillion dollars but served to move US jobs overseas and put millions out of work.

    Now they want to make this oil spill Obama’s fault.
    Come again,how does this work exactly?

    Comment by Rain — June 1, 2010 @ 1:08 am

  2. You’re right, Rain. It may even be up to $6 a gallon by the end of summer. Americans will scream but they’ve got us over an oil barrel — we have to buy gas.

    Obama should nationalize the oil companies doing business in the US, and strip them of their exptravagant ill-gotten profits, but that’s not likely to happen. Still, it’s always possible the outcry of the public will be such Congress will be forced to act.

    In the meantime, I’m boycotting BP, and I hope everyone else will do likewise.

    Comment by RS Janes — June 1, 2010 @ 2:18 pm

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