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All those analysts think some "big disruptive" incident will drive oil to $150/bbl, but it's just the greed alone that's doing it.
I got 6 gal. for $21 today (at $3.39), other places it was already $3.49. It may not even take until Memorial Day for it to climb to $4.
ya, it almost hurts to watch indexes climb, knowing full well that the house of cards is literally collapsing as we speak. Its soo "apocalyptic". The hey day before the end type stuff. just whack. and idiot, loyalist types I have the dis pleasure to work with ( Bush Loyalists ) come to me all smug, "see..it's almost over, the markets are foretelling the bounce back!" Its all I can do not to literally roll on the floor laughing my ass off.
More bad news?
w00t! Buy Buy Buy! it's just defies reason at all.
older.. ya..I saw 3.59 for regular here in Tampa bay area today.
It took the lazy cable division of the corporate media more time than usual, post the ABC debate fiasco, to rush to their cliché rejoinder in times of scrutiny. That rejoinder, "we must be doing our job if everybody's complaining" had to wait for a pundit-built bridge from the wreckage of ABC attempt to Dean-scream Senator Obama at the last debate to a pundit-created faux consensus that candidates are whining about media treatment to this afternoon's arrival at the "we must be doing our jobs right" meme. Whatever happens know that all media-built roads always lead to freshly rinsed media hands and the occasional revolving door of government/media clubbiness and across generations.
And the rich don't even lose any sleep over it, either. Heartless bastards don't mind if millions lose their homes, their jobs, their kids, any of it. Of course, relatives and friends will pitch in and help some, but not everyone has someone with the means to do that.
Can you imagine not just having to pay this much for gas but having to dig into food money, money that usually would go to other necessities? Luckily, I don't have to use my car very much, but having to pay $300-500 a month for gas would truly put me in the poor house.
And most of us don't have any alternatives for transportation (no bus, rail or other services out here in the boonies), and there aren't any other fuels to use at this time.
They've got us by the short hairs.
The fudemental economic reason is simple. If the Federal Reserve at the request of the US Treasury continues to print more dollars for bailouts and rebates they become increasingly worthless and why would any foreign oil producer keep accepting payment for his diminishing product with more and more worthless dollars?
We have to stop intervening and manipulating all of the markets from stocks to commodities and the following quotes from the former Treasury Secretary Paul O'Neil and recently from paulson tell the tale.
Paul O’Neill said:
QUOTE
``The markets actually have control over those relationships. When people say strong dollar, if they don't mean that `we believe intervention can work and we're prepared to intervene,' then `strong dollar' is ridiculous.'
Now Paulson obviously doesn’t think the strong dollar is ridiculous because he keeps repeating it so by implication from O’Neill comments PAULSON ACTUALLY MEANS: "we believe intervention can work and we're prepared to intervene"…and are they ever!! the politicians have not other choice but to keep the printing presses going because the alternative would be too painful to do otherwise. It will take a depression the likes of which we have never seen before in order to remove all of the financial rot that is in financial land. 570 trillion in derivitives alone!
So every time Paulson utters the phrase, "I believe in a strong dollar" we can substitute the phrase "we believe intervention can work and we're prepared to intervene". Isn’t that the definition of an Orwellian??