I swear we have the dumbest president ever. And I don't say that like most political pundits do because they disagree with politicians politically. I'm saying it because he really is that dumb, I assess his knowledge and wisdom as below average.
Regardless, I'm going to try anyway.
Given Obama's announcement to launch investigations into the price of oil, let me see if I can guess and plot the logic here so that even 2nd graders can understand;
Invasion of Libya + HUGE EFFING NATIONAL DEFICITS + growing 2nd and third world nations = increased risk of oil supply interruptions + increased demand for oil + weak dollar = increased gas prices.
Oh, I'm sorry, is that too complicated for you Obamaites out there? Would you prefer I mollify your little brains by telling you it's "big oil" and "oil speculators?" Hey, I know, let's do that stupid thing where we all decide to "boycott big oil" on ONE day! You know, that incredibly inane and stupid idea college kids come up with because of their galactically incomprehensible level of stupidity when it comes to economics.
Yeah, you go launch your investigation.
Morons.
I laughed my a$$ off when I saw this article. What a bunch of dumb asses!
ReplyDeleteDo you think the 30% tax on gas, may have an effect on the price?
ReplyDeleteEvery left wing political puke, blames
traders for price problems. Doubling the money supply, no it must be greedy oil traders.
Get ready for a dollar devaluation, and the blame will all be put on currency traders. This is a very common government ploy. Blame greedy capitalists for an increase in prices, or some other failed socialist policy.
It is to laugh!
Well, the Libyan "war" is in line with French national policy. The French, unlike the US, actually have a rational energy policy (get oil by hook and by crook, and thuggery if necessary, develop nuclear power inc. breeders for home use and for export).
ReplyDeleteThey and the Italians have apparently invaded Libya.
It is pandering to the people to provide a distraction and project blame on others for the impact of monetary policies, rampant deficit spending, government bailouts of bankers and QE. There will be many thrown under the bus to appease the masses between now and the November 2012 elections.
ReplyDeleteDon't forget that imports of dirty, dirty Canadian oil need to be throttled, too.
ReplyDeleteDon't you understand. Those things have nothing to do with it. Obviously there is gouging, and speculators are artificially driving the price up for their only short term gain.
ReplyDeleteThe Government MUST step in, investigate, and most likely place price controls on free enterprise in order to ensure votes, errr.... I mean in order to protect the consumer.
Captain Capitalism, your Save Capitalism friend is depressed. Can you link to his page telling people to leave him thoughtful, positive comments?
ReplyDeletehttp://savecapitalism.wordpress.com/2011/04/22/i-need-a-break-but-ill-be-back/
Sorry, American friends. Oil prices are not
ReplyDeletegoing up; it is the US dollar which is going down.
The price of oil is about 13.4 bbl
per ounce of gold, which is neither particularly high nor particularly low. The cost of oil tends to fluctuate between about 9 bbl/oz and about 18 bbl/oz.
You have a Commie for president. That is the paramount economic fact about the US today. And there is no excuse for having voted for him. He wrote a book, "Dreams from my father", which is pretty clear. And the father wrote "Problems with our socialism" in 1965 ("our" being Kenya) which was and is freely available. It sets out a crude prototype of Obanomics.
Of course as Aaron has so eloquently documented there is pervasive rot in the economic system (if you haven't read his book for Heaven's sake purchase a copy today and READ it).
Hey, he has always been an D- student, but by the miracle of affirmative action and minority hiring the gullible believe this hesitant, uneducated buffoon has something to offer.
ReplyDeleteAnd let me modify your equation:
No gulf drilling+pissed-off Saudis+increased BRIC nation consumption+worthless US dollar=more food stamps+$8/gallon gas
Obama turning the USA into Africa, yes he can.
These are the exact same people who want to tax gasoline to $5 per gallon or more in order to protect the environment.
ReplyDeleteThese are the exact same people who mandate cleaner-burning blends of gasoline that are more expensive, provide lower fuel economy, damage engines, and BTW also hurt the environment.
Captain, very interesting blog. Does speculation contribute anything to the current price hikes?
ReplyDeleteHi Peter,
ReplyDeleteOh yes, most certainly. But that would be a spike not a general progression upward that highly correlates with the drop in the dollar. I'm sure there are speculators playing the market right now, but if you look at the general macro economics of the US, speculation is surely outshadowed by a weak dollar, HORRENDOUS deficits and just a lazy, pathetic country.
Don't forget that he punitively shut down all american oil production in the Gulf of Mexico, and hasn't restarted the permit process. (And yet, still had $2 Billion for Brazil to grow their oil industry.)
ReplyDeleteOh but I'm nitpicking- it's the evil corporations!
I'm wondering when we start shooting down Syrian planes.
ReplyDeleteThat Nobel Peace Prize was a bit premature...
but we already knew that, didn't we?
I have a couple of different thoughts. The first is, that all things come to an end. It is helpful to read history:
ReplyDelete"They say the Lion and the Lizard keep
The Courts where Jamshyd gloried
and drank deep."
Egypt was great, and is gone. No fewer than three Persian Empires have come and gone. Of the glory that was Greece, and the grandeur that was Rome, what remains? It is sad that the decline and fall of America, so protean, so creative, so vigorous, should occur in our lifetimes; but decline and fall it must.
Our individual selves shall die; I probably before you; but die we shall.
"Lo! some we loved, the loveliest and best
That Time and Fate of all their Vintage prest,
Have drunk their Cup a Round or two before,
And one by one crept silently to Rest."
Now pick up a book on astrophysics. Our planet shall end. evaporated;
our Sun shall burn itself out.
Such is the nature of our existence and to be surprised by it is a waste of time.
The other thought is, that there will always be winners; those who not only enjoy the decline, but profit from it. To be a Roman senator in 400 AD was not so fine as being a senator in 10 AD; but it was still much better than being a peasant in either era. The question is, how to be a winner. Not so easy but obviously possible.