The Mudcat Café TM
Thread #113326   Message #2410084
Posted By: GUEST,Jack the Sailor
10-Aug-08 - 06:18 PM
Thread Name: BS: It ain't China or Obama.
Subject: RE: BS: It ain't China or Obama.
The speculators respond to the news. Saying that the rise of the dollar was due to speculators is like saying that global warming is caused by thermometers. The international analysts I am reading are saying that the price of oil is dropping because the speculators are forecasting a world wide recession caused by the high pride of oil. Another factor is congress announcing that if speculators don't calm down then their ability to speculate with borrowed money will be drastically curtailed.

One real and irreversible, (in the short term at least) cause in the rise of oil was the drop in the dollar caused by the credit crisis. I think that the credit crisis could have been dealt with much earlier and more forcefully by the government a year ago, two years ago when the system was just starting to fall apart. But that is not the current government's fault. Its the idiots who voted for them knowing that their aim was to tear government down.

Likewise the response to Katrina. In those cases and many more. It is a matter of electing incompetent, uncaring people who do not have the best interests of the majority of the country at heart. In all those cases the costs of fixing the mistakes they have made would have paid for all of the "taxing and spending" promised by the Democrats in the campaigns that they lost.

McCain is promising an even more "hands off" approach to government than Bus promised. A vote for McCain is a vote against effective regulation and to some degree a vote against prosperity.

Lastly, I do not criticize the economic policies because I dislike the administration. I dislike the administration because they have horrible economic policies.