NO! NO! NO! Its the oil companies fault. They hiked the price, they are trying to gouge us. They must be stopped!
















Good post.

 

from source

that just looks bad

 

These things happen.

 

So, since Hurricanes and travel season failed to generate goo gobs of revenue, they just devalued the dollar...

Just another way to screw us.

Bend over, and take it like a man.

 

True. But it sure seems a little eerie the past few days. Guess we'll see what happens tomorrow. - Og

 

No s#!t. - Og

 

Love this "There are many factors that lead to this meltdown."..."if you want to blame on a president, you need to blame on the Clinton Administration." So basically, when I, a conservative am defending Bush, there are a lot of factors, but we can blame Clinton.

You should just copy this into a text file and save some typing for the future

It is Bill Clinton To Be Blamed for <insert issue here>

Seriously, has Bush done anything wrong? If this glaring screw up by Clinton was so obviously going to lead to catastrophic failure, why hasn't Bush reversed it?

 

It'll come back down, this is the same thing that got oil going so high in the first place. Speculation! People think there is a shortage so they buy oil stocks and prices go up because in the stock market there is a proceved demand. People are shifting their money out of other stocks and into oil because they feel it's safer, so price will go up. Looks to have little to do with the actual demand of the product but moreso for the stock.

It doesn't cost oil companies any more today as it did last week to produce oil and gas but the price will jump because people are buying the stocks sending prices higher. If you're playing the game and making money off of buy and selling oil stock then life is good, but if you're just seeing the gas prices kill you then life isn't so rosey.

 

As far as the mortgage meltdown, look at the Clinton administration for fault. He is the one that pressured the loan institutions to make these bad loans. Bush's problem is he did nothing to stop it.
The spike in oil is just a hiccup folks and I can only hope the speculators that have driven the price up end up broke and eat out of garbage cans. I look for this to be one of the campaign issues in the next few weeks, regulating the speculation on oil. I would assume there will be some very high taxes to be paid on the profits from oil futures. Oil futures only moved up a little over $6.00 and was weak at the end of trading. I would think it indicates that by weeks end it will back to Fridays close or possibly cheaper. But demand is not there and there is lots of oil available. FWIW, they have found a new field off of Brazil and it is several times BIGGER than the reserves of all of the Arab countries. It should start producing in 2-3 years. Watch prices fall below a buck a gallon as new technologies finally start showing up and vehicles really start getting fuel mileage without sacrificing the power we've become accustomed to.

 

It was just the prompt month contract. The longs were just crushing the shorts today as the contract closed. none of the outward months moved anywhere near that much.

 

BS. crazy. Mccain was waring the congress of the fannymae and freddlymac poroblem in 2005. But dodd and obama where too busy sucking up the money from them to care. And now 2 of the guys from fanny are obama's financial advisors. Those programs where predominatly started by democrats. They felt a need to make housing affordable for everyone..even if they couldn't pay. Andrew cumo and clinton get plenty of blame too.. Get your facts straight. Unfortunatly mccain is talking about cumo as some high financial office. I may have to pull my support for mccain again if he does that.

 

It's already back down to $108.

 

Gold prices are up. It usually does the opposite of the dollar.

Yes, the Clinton administration made the banks charge top dollar for subprime loans they profited from then sold the stock market and all around the world. Now Bush wants to keep the same people in charge and give them an unconditional 700 billion to cover their loses.

Nobody saw it coming...most republicans said the economy was ok until the bottom fell out....Nobody fired from 1 firm bailed out, nobody fired from government watching from the sidelines saying all ok?

Dam the clinton administration!

 

Gold is worth a lot recently, $892 an once because of a "flight for safetly" in the stock market.

This is a crazy market though, down 500, up 350, down 400, could go up again once things calm down regarding the bailout.

 

While I understand what you are saying .. I wonder where the reality check is when a 3% market fluctuation is considered crazy.

The media also has a pretty big hand in this ..

you see the Headlines today, for example: Dow plummets as Oil soars!

but if the market gains that 300 points back today, I promise you that the headline tomorrow won't read : Dow rockets upward as oil holds steady.

The media decided a long time ago that negativity sells, and that is all we get. Everyone is on edge because of it, and they over react to every little bit of bad news. No matter what the facts show, it will get reported as negatively as possible, by almost everyone reporting on it.