The Fed pushes gasoline prices even higher
trudogg
keeps going up. And nobody sees an end to this surge let alone a drop
in price. For just this past weekend the price of oil per barrel
jumped again to an all time record high of $117.01. The New York Times
commented that "what was striking about this latest milestone was what
didnＵ happen: there was no shortage of oil, no sudden embargo, no
exporter turning off its spigot."
But there is something going on and it means more bad news for the
American public. And that is the Fed's Ben Bernanke has been pulling
out all the stops to save Wall Street from paying for the mess they
made while keeping all the prolfits. On Sunday in the Washngton Post,
the conservative writer George Will said Americans should tell the
congress the free ride is over and it is time to start dismantling
Wall Street Socialism.
In Will's words, "the Fed has no mandate to be the dealmaker for Wall
Street socialism. The Fed's mission is to preserve the currency as a
store of value by preventing inflation." But that is not the way that
George Bush, Treasury head Hank Paulson, Bernanke and most of the
congress see it.
You see very time the Fed lowers interest rates, it weakens the dollar
and the Fed has been very active slashing these rates in order to keep
the big banks afloat. That dollar devaluation then raises gasoline
prices at the pump, about 8 cents per gallon per each 25 percentage
point cut by the Federal Reserve.
Since September there have been 12 of these cuts made - eventually
costing America 96 cents extra for each gallon of gas. Between
September 18, 2007 and March 18, 2008, the Federal fund rate was
lowered from 5.25% to 2.25% and the discount rate was lowered from
5.75% to 2.50%.
Check the dates: In Butte on October 3, 2007 the price of a a regular
gallon of gas was $2.80. On New Years Day $3.06. St Patrick's Day
$3.25. As of this writing the price is $3.50 ($3.49.9) a gallon and it
will go even higher in the coming weeks, roughly $3.75 a gallon, as a
result of the Fed's giving in to Wall Street.
Of course, the Fed has yet to mention this gasoline price surge in
statements concerning those rate cuts for Wall Street and for good
reason. As George Will pointed out, continued dollar deflation means
higher and higher prices for the American public and even more $
billions for Wall Street investment banks like Goldman Sachs.
And there's more. Before the current Fed cuts in the interest and
discount window mentioned above run their course, regular gasoline
prices will have reached $3.76 per gallon according to the Fed
formula, nearly a dollar increase since last October. And like the
moon follows the sun, a higher price for gas further pushes up already
rising food prices.
So it's no wonder people want change and the hell with experience.
"Bailout Ben" Bernanke, Hank Paulson (a former Goldman Sach's CEO) and
of course, Alan Greenspan, the former Fed guy, are long on experience
and look where they got us. And we might also remember the present
disaster originated in the unregulated Wall Street investment banks
who were set free to plunder and loot after Bill Clinton and Robert
Rubin in 1999 deep-sixed the old New Deal banking law, Glass-Steagall.
And what have they learned? Needless to say, the Wall Street guys and
gals are still calling for more tax cuts even with a war going on that
is further bankrupting us.
Jackie Corr
--
http://gssites.com/bbg/index.html
Littleguy
wrote:
This stuff is really pissing me off.
--
Littleguy
Never ride faster than your guardian angel can fly
~Author Unknown
I was here before you and I'll be here after you
leave.
--CG
Please keep checking your reader for the following new group:
alt.cg.is.important.post.here.to.him
Dave K
<Mark.Li...@nospam.gmail.com> wrote:
<snip>
>This stuff is really pissing me off.
Care to elaborate?
--
Cheers! :)
trudogg
<Mark.Li...@nospam.gmail.com> wrote:
>>And what have they learned? Needless to say, the Wall Street guys and
>>gals are still calling for more tax cuts even with a war going on that
>>is further bankrupting us.
>This stuff is really pissing me off.
...what's pissing me off is these two chickenhawks at the head of our
government are allowing it to happen. It's their friends and business
associates that are raping this country and no one seems to connect
the dots. The oil whores know what is coming with the next
administration and they are ripping this country off for all they're
worth now. It's past time to put controls, and very strict ones, on
the oil industry. They have proven themselves incapable of policing
themselves...time to drop the hammer.
--
http://gssites.com/bbg/index.html
Littleguy
Sure.
I'M TIRED OF NOBODY FUCKING DOING ANYTHING ABOUT IT!
Did i make my point? -:)
Littleguy
wrote:
I just heard that Sams and Costco has a (2) 50 pound bag limit on
rice.
Now the scare tactics start. Somebody, I don't give a fuck who better
step up to the plate and do there fucking job and then some.
My next door neighbor is a painter by trade for 30 years I guess or so
and his wife made him take a job at the county to get them thru these
lean times. The guy is a hard working man that is used to working 12
to 15 hours a day and he's telling me that all they do for 25 bucks an
hour is fuck around looking at signs for half a day and painting them
the other half. Our fucking tax dollars at work......
I'm not in a good mood about this stuff.
Gerry Ford
"Dave K" <dav...@att.net> wrote in message
news:ec9v04dfldod7al63...@4ax.com...
of its value, oil prices double.
The dollar losing its shorts is what happened when the Penguin made his
mideast land grab, failed, and put trillions of dollars on the national
credit card.
Bush asks for another $104 billion, Pelosi says, no, here's $1.78e09.
Pelosi is every bit the failed pol that her white house counterparts are. I
guess having a good rack doesn't make you a good constitional steward.
--
"Life in Lubbock, Texas, taught me two things: One is that God loves you
and you're going to burn in hell. The other is that sex is the most
awful, filthy thing on earth and you should save it for someone you love."
~~ Butch Hancock
edward ohare
wrote:
>You see very time the Fed lowers interest rates, it weakens the dollar
>and the Fed has been very active slashing these rates in order to keep
>the big banks afloat. That dollar devaluation then raises gasoline
>prices at the pump, about 8 cents per gallon per each 25 percentage
>point cut by the Federal Reserve.
>
>Since September there have been 12 of these cuts made - eventually
>costing America 96 cents extra for each gallon of gas. Between
>September 18, 2007 and March 18, 2008, the Federal fund rate was
>lowered from 5.25% to 2.25% and the discount rate was lowered from
>5.75% to 2.50%.
>
>Check the dates: In Butte on October 3, 2007 the price of a a regular
>gallon of gas was $2.80. On New Years Day $3.06. St Patrick's Day
>$3.25. As of this writing the price is $3.50 ($3.49.9) a gallon and it
>will go even higher in the coming weeks, roughly $3.75 a gallon, as a
>result of the Fed's giving in to Wall Street.
Why is that when people see something happen, they look for **one
reason** why it happened? And if that one reason involves a
conspiracy for the rich to get richer, that clinches it as fact in
their minds.
So why is the price of gas so high... pushing three times what it was
when Bush took office? There's more than one reason - the reason in
this article doesn't make the A list - and this whole article more
than anything else shows the inability or unwillingness of people to
think. If that continues, we're doomed.
trudogg
<Mark.Li...@nospam.gmail.com> wrote:
>>...what's pissing me off is these two chickenhawks at the head of our
>>government are allowing it to happen. It's their friends and business
>>associates that are raping this country and no one seems to connect
>>the dots. The oil whores know what is coming with the next
>>administration and they are ripping this country off for all they're
>>worth now. It's past time to put controls, and very strict ones, on
>>the oil industry. They have proven themselves incapable of policing
>>themselves...time to drop the hammer.
>
>I just heard that Sams and Costco has a (2) 50 pound bag limit on
>rice.
>
>Now the scare tactics start. Somebody, I don't give a fuck who better
>step up to the plate and do there fucking job and then some.
>
>My next door neighbor is a painter by trade for 30 years I guess or so
>and his wife made him take a job at the county to get them thru these
>lean times. The guy is a hard working man that is used to working 12
>to 15 hours a day and he's telling me that all they do for 25 bucks an
>hour is fuck around looking at signs for half a day and painting them
>the other half. Our fucking tax dollars at work......
>
>I'm not in a good mood about this stuff.
...I hear ya on that. But that Department of Transportation stuff
seems to be country wide, no matter what state you look in...the same
lame shit is going on.
trudogg
<edward...@nospam.yahoo.com.invalid> wrote:
>>Check the dates: In Butte on October 3, 2007 the price of a a regular
>>gallon of gas was $2.80. On New Years Day $3.06. St Patrick's Day
>>$3.25. As of this writing the price is $3.50 ($3.49.9) a gallon and it
>>will go even higher in the coming weeks, roughly $3.75 a gallon, as a
>>result of the Fed's giving in to Wall Street.
>
>
>Why is that when people see something happen, they look for **one
>reason** why it happened? And if that one reason involves a
>conspiracy for the rich to get richer, that clinches it as fact in
>their minds.
>
>So why is the price of gas so high... pushing three times what it was
>when Bush took office? There's more than one reason - the reason in
>this article doesn't make the A list - and this whole article more
>than anything else shows the inability or unwillingness of people to
>think. If that continues, we're doomed.
...you have it right in the first sentence of the last paragraph
above...there may be numerous reasons why prices are so high, but they
all stem from the actions of the idiot you mentioned.
Amused
news:1209005...@news.newsgroups.com...
>
> "Dave K" <dav...@att.net> wrote in message
> news:ec9v04dfldod7al63...@4ax.com...
>> On Wed, 23 Apr 2008 13:48:06 -0700, Littleguy
>> <Mark.Li...@nospam.gmail.com> wrote:
>>
>> <snip>
>>
>>>This stuff is really pissing me off.
>>
>> Care to elaborate?
> I don't see the Fed as a culprit in oil prices. When the dollar loses
> half of its value, oil prices double.
>
http://www.gravmag.com/oil.html
Very good summary page. (Circa 2005)
(And about 3/4 of the way down the page, you'll fine a summary of the upward
pressures on fuel costs.)
If you read the page, you'll find that the US Federal Government has little
or no control over the price of gasoline, except to drive it higher with
taxes, and regulations.
Calls to institute price controls are monumentally ignorant. In fact,
localized price controls, (and believe it or not, in the world of petroleum
production, America is a local market) would serve only to destroy American
distribution systems, and eventually lead to HIGHER prices for American
consumers. The last time it was tried...1971, to control inflation, it
resulted in a doubling of the inflation rate.
http://www.econreview.com/events/wageprice1971b.htm
Dave K
<Mark.Li...@nospam.gmail.com> wrote:
>On Wed, 23 Apr 2008 21:09:54 GMT, Dave K <dav...@att.net> wrote:
>
>>On Wed, 23 Apr 2008 13:48:06 -0700, Littleguy
>><Mark.Li...@nospam.gmail.com> wrote:
>>
>><snip>
>>
>>>This stuff is really pissing me off.
>>
>> Care to elaborate?
>
>Sure.
>
>I'M TIRED OF NOBODY FUCKING DOING ANYTHING ABOUT IT!
>
>Did i make my point? -:)
Oh. I see.
--
Cheers! :)
Dave K
Old Joke:
Q: What is yellow and blue, and sleeps 4?
A: A state road truck.
Years ago I knew of a guy who drove a pesticide spraying rig
(mosquitoes) for the county. He would buy an 8 pack of beer, back the
truck into the woods, and let it run until it was empty, while
drinking his 8 pack and listening to the radio.
Nothing new.
--
Cheers! :)
Gerry Ford
"Amused" <jamesc...@carsoncomm.com> wrote in message
news:Ot-dnRlB-M6k_o3V...@news.ruraltel.net...
(why couldn't he just agree).
Tom Friedmann is as good as any journalist on this topic. When gas was $2.0
a gallon, he advocated a tax of a dollar a gallon on gas. This would put us
only closer to Eurpaen standards here.
Gas vendors are no philanthropy; they will pass on the taxes to the
consumer. Back then, that would give us, $3. for a gallon of gas. Can the
consumer shoulder this burden?
We've seen Reaganomics live long enough to find its reductio in BushCo.
They have not the slightest interest in making government sound but
profiteering from its spoils.
Amused
It kinda depends...
Lots of agricultural equipment is still gasoline powered and as for the
rest, diesel is actually more expensive than gasoline. If people think food
is expensive this year, just wait until next year when some of this high
priced fuel starts factoring into the food production/distribution costs.
And the bitter truth is, I don't care who is in the White House or Congress,
there ain't a frickin' thing they can do about it.
I suppose they could ban the export of wheat, corn and soybeans. One
shudders at the thought...
trudogg
>>...I hear ya on that. But that Department of Transportation stuff
>>seems to be country wide, no matter what state you look in...the same
>>lame shit is going on.
>
> Old Joke:
>
> Q: What is yellow and blue, and sleeps 4?
> A: A state road truck.
>
> Years ago I knew of a guy who drove a pesticide spraying rig
>(mosquitoes) for the county. He would buy an 8 pack of beer, back the
>truck into the woods, and let it run until it was empty, while
>drinking his 8 pack and listening to the radio.
...someone should have snuck around and detoured one of the nozzles
into the cab...
--
http://gssites.com/bbg/index.html
Duine
scum-suckers whining makes it all worthwhile. I say "To $6 a gallon and
infinity!"
2,418 days without another terrorist attack on the United States. Thank
you President Bush! <cheering>
Duine
"trudogg" <indep...@long.last> wrote in message
news:d8k01493vceing54t...@4ax.com...