OMG - GOBAMA!! Dow Jones Breaks 13,000 Threshold (Obama DOUBLES Dow Index in 3 years)

[Gary and Alla 3,694]

Making Rich people richer! YAY for the 1%!!!!!!!!!!! And now he has signed the law slashing funding for Social Security and gasoline has also doubled in price to go along with stocks. Average of $1.83 when he took office. Now at $3.66 today (exactly double!)and headed UP.

FOUR MORE YEARS!

[luckytxn 2,265]

Have you factored in the 40% decline in the dollar, from all that borrowing over the last 6 years? If not for the decline in home prices, we would be looking at double digit inflation. If you look at commodities like copper and steel, you understand why the world in drowning in oil, yet gasoline prices under Obama have doubled. The US is exporting refined products like gasoline and fuel oil, to places like China and Japan, because they have run out of places to store the product.

I have found the Fuel market amazing the past couple of years. Not just that but the commodities for the manufacturing into products for the petrochemical industry has been kicking azz since last summer. The fuel market is about to take off.

[one...two...tree 2,762]

meanwhile we are about to get raped up in the ####### with $4-$5 gasoline thanks to Obama's lack of action!

Koch Brothers in Forefront of Oil Speculation

Sky-high gas prices and record volatility are in large part the result of excessive oil speculation, an oil market corrupted by unregulated Wall Street traders who buy and hold onto oil futures contracts with no interest in the actual delivery of oil. The Koch Industries, an oil pipelines and refining company, is in the forefront of speculating on oil for profit.

Even Goldman Sachs concedes that at least $27 of the price of crude this year has been as a result of rampant speculation, not supply and demand, according to thinkprogress.org. Other experts have said that number is closer to fifty dollars.

http://westorlandone...il-speculation/

Edited February 22, 2012 by Mister Fancypants

[james&olya 1,121]

Making Rich people richer! YAY for the 1%!!!!!!!!!!! And now he has signed the law slashing funding for Social Security and gasoline has also doubled in price to go along with stocks. Average of $1.83 when he took office. Now at $3.66 today (exactly double!)and headed UP.

FOUR MORE YEARS!

The theory of supply and demand explains why gasoline is cheap when the economy nosedives and becomes much more expensive when the economy takes off! Why is anybody surprised? Is it a constitutional duty of the presidency to interfere in the free market to set fuel prices artificially low?

[luckytxn 2,265]

http://westorlandone...il-speculation/

Oh please. It is not like a major war in the Middle East talk hasn't ran the price of oil up. When talk of war of this magnitude is floating around of course some will secure oil at any price to insure supplies.

Not sure any have noticed since we are all rich but the prices for almost all goods that are consumed are higher. This is called inflation. Inflation is a silent tax. This happens when the money supply is increased. Wages always lag behind for some reason.

[james&olya 1,121]

Oh please. It is not like a major war in the Middle East talk hasn't ran the price of oil up. When talk of war of this magnitude is floating around of course some will secure oil at any price to insure supplies.

Not sure any have noticed since we are all rich but the prices for almost all goods that are consumed are higher. This is called inflation. Inflation is a silent tax. This happens when the money supply is increased. Wages always lag behind for some reason.

When you have the 'best' government that money can buy, is it any surprise that no matter what happens with the economy, the rich get richer and the rest of us keep sliding back?

[Gary and Alla 3,694]

The theory of supply and demand explains why gasoline is cheap when the economy nosedives and becomes much more expensive when the economy takes off! Why is anybody surprised? Is it a constitutional duty of the presidency to interfere in the free market to set fuel prices artificially low?

Oil prices are not being driven by supply and demand. There is no shortage of supply and demand is remarkably low. The mildwinter in the NE had oil supplies at their highest level ever. Greed and speculation are driving the prices. Obama could approve the pipeline, state that we will increase production or approve additional drilling, any of which would drive speculators off. He doesn't.

I recal very distinctly that Nancy Pelosi stated that electing Demsin 2006 would decrease gas prices, I recallObama criticizing Bush in 2008 for high gas prices in the summer, the prices feel before the election and the issue went away. Dems clearly blamed Bush for high prices before, now it is Obama's turn. There isno recovery to spur oil prices

[Gary and Alla 3,694]

When you have the 'best' government that money can buy, is it any surprise that no matter what happens with the economy, the rich get richer and the rest of us keep sliding back?

Of course, and the current president is sucking up the Super PAC money. What does one expect? Not tomention draining both the oil producer lobbies and the environmental lobbies by teasing them with the pipeline. He has a huge "for sale" sign over his head.

[Leatherneck 693]

http://westorlandone...il-speculation/

Quote

Koch Brothers in Forefront of Oil Speculation

Sky-high gas prices and record volatility are in large part the result of excessive oil speculation, an oil market corrupted by unregulated Wall Street traders who buy and hold onto oil futures contracts with no interest in the actual delivery of oil. The Koch Industries, an oil pipelines and refining company, is in the forefront of speculating on oil for profit.

Even Goldman Sachs concedes that at least $27 of the price of crude this year has been as a result of rampant speculation, not supply and demand, according to thinkprogress.org. Other experts have said that number is closer to fifty dollars.

Speculation is not only for Wall St. or done on Wall St. I buy futures contracts and options, I can assure you I never have any intentions of taking delivery of 550 barrels of oil per futures contract. Just as when I buy sugar futures contracts, I have no plans to take delivery of 112,000 lbs of sugar. Should me and the millions of commodities investors like me be regulated?

There would be no commodities market without speculation, it simply is not possible. If you took Koch Industries out of the picture entirely, there would still be millions of investors buying futures contracts for the risk and rewards of speculating.

[웃 910]

http://westorlandone...il-speculation/

That's the thing everyone forgets.

1) Oil goes with the price of the stock market (That is why it was at $30 a barrel when the Dow tanked all the way from 14,000 points in 07 to under 7,000 points by 09.

2) Oil is just a stock. It'd be like blaming Obama for the price of Exxon Mobil.

[one...two...tree 2,762]

That's the thing everyone forgets.

1) Oil goes with the price of the stock market (That is why it was at $30 a barrel when the Dow tanked all the way from 14,000 points in 07 to under 7,000 points by 09.

2) Oil is just a stock. It'd be like blaming Obama for the price of Exxon Mobil.

You can't blame them for being upset about the prices at the gas pump though. They were hoping that after spending a small fortune on their mammoth SUV's, they get a bargain on gas. It's called being financially savvy.

[Gary and Alla 3,694]

You can't blame them for being upset about the prices at the gas pump though. They were hoping that after spending a small fortune on their mammoth SUV's, they get a bargain on gas. It's called being financially savvy.

Yes and Obama has cut funding to Social Security so everyone has an extra $20 per week in their pocket, J. Carney said so.

AND Obama just proposed cutting corporate income tax 20% from 35% to 28% (thanks to generous donations he accepted from Super PACs) That will trickle down to us and we will have plenty of money for gas.