Meathead-in-Chief declares war on oil speculators

Discussion in 'Politics' started by Tsing Tao, Apr 21, 2011.

  1. Larson

    Larson Guest


    All talk. Matters are out of his hands, unless he can impose a 55 mph speed limit and raise the gas tax. And even that may not work. This Pres. is a piece of work. What has he done anyway, besides preside over USA decline.
     
    #11     Apr 21, 2011
  2. Tsing Tao

    Tsing Tao

    he's accelerated it!
     
    #12     Apr 21, 2011
  3. TGregg

    TGregg

    You got it. A fundemental principle of these losers is that serious inequality of outcome means somebody cheated. Therefore, if one stops the cheating (aka fraud and manipulation) the prices will come back down. It's an easy shortcut that doesn't require much thought and is perfect for Dear Leader.
     
    #13     Apr 21, 2011
  4. olias

    olias

    agreed. Sadly it's a common misconception. I'm going to say that the majority of Americans believe that speculators are to blame for high prices. I see that kind of thinking all over the internet.

    There is some truth to it, but you can't blame speculators. They make it sound as if all the speculators are making a killing by manipulating prices. It's bs. The more speculators the more efficient the process of price discovery.
     
    #14     Apr 21, 2011
  5. olias

    olias

    The majority of Americans will react with 'way to go Obama! It's about time!'

    He's not a 'meathead' though. He just got this one wrong
     
    #15     Apr 21, 2011
  6. Visaria

    Visaria

    You chaps aren't very good at electing presidents, are you? :p
     
    #16     Apr 21, 2011
  7. rew

    rew

    Politicians create inflation through massive deficits and then blame it on speculators, all the while getting paid off by lobbyists who insist the government keep spending on their pet programs.

    Good gig if you can get it.
     
    #17     Apr 21, 2011
  8. By golly, you've got it! Not good at electing Congressmen, either.
     
    #18     Apr 21, 2011
  9. “The only proper purpose of a government is to protect man's rights, which means: to protect him from physical violence... The only proper functions of a government are: the police, to protect you from criminals; the army, to protect you from foreign invaders; and the courts, to protect your property and contracts from breach or fraud by others, to settle disputes by rational rules, according to objective law.”
    — John Galt
    Atlas Shrugged (Part 3, Chapter 7, Page 1,062)
    ______________________________________________________
     
    #19     Apr 21, 2011
  10. Double the margin at the NYMEx. Bet you oil goes much lower w/o killing its price discovery role which is critical in a free economy.
     
    #20     Apr 21, 2011