Posted on 03/09/2008 2:43:35 PM PDT by fweingart
ARROYO GRANDE, Calif. (MarketWatch) -- The buck stops here: This is Bush's recession, his legacy.
It could be a chapter in a future edition of Jacob Weisberg's "The Bush Tragedy," with new comparisons to "Henry V" and other great Shakespearean tragedies. In a few sentences, the opening lines could highlight why this is now Bush's recession, and his alone.
(Excerpt) Read more at marketwatch.com ...
Are you kidding or are you serious? Bush’s friends in the oil industry are making all-time record profits. Why would he want to open up more oil exploration or do anything to reduce the price of oil that is causing record profits for oil companies.
I still never have understood how, when the price of oil skyrockets, the oil companies make monster profits, but when the price of oil collapses, they lose their shirts. That has always struck me as backwards. No matter. Oil companies are laughing all the way to the bank right now. I’m sure they are telling their president not to do anything to upset the apple cart right now.
I think you have a point about not using our oil.
We are in a ruff patch here though.
I dont understand why we help China at our expense.
We have more controls on us than them.
Read the whole article and didn’t see one sentence from the author on what Bush did or did not do, or should or should not have done to prevent “his” recession.
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The author was recounting Roubini’s report ,, Roubini seems to be stating the obvious ... this will be a bad one and there is really nowhere to hide. The author is correct in asserting that this will be hung around Bush’s neck for all time.. I’m convinced Bush is at least partly to blame for encouraging the wholesale dismantling of lending safeguards to pump up the economy after 09/11 and to get Mexicans credit cards and into homes.. the same dismantling of normal lending requirements sucked in legions of speculators and the cash bonanza spawned CDO’s and CMO’s and all sorts of derivatives that are now imploding... Greenspan bailed just in time,, he cheerlead the entire process.
It aint pretty now
With the Big Media, the headline should read "A classic 12-month strategy." When will they stop talking down the economy? After their particular RAT is elected, I'm sure...
I spent $81.00 to fill my sedan's tank with diesel fuel yesterday.
The rebate loan has to be repaid to China and the excessive fuel cost goes to our other good friends in Saudi Arabia.
Yes we are. They’ll admit as much in 6 months.
But hey, it helps fill their wallets...doesn't that make you feel good?
“Butbutbutbutbut we are ‘compassionate’. We just have a difference of opinion.”
Because he's a patriot?
Just asking.
(Examine the percentages of net profits of the major oil companies. You may be surprised. I wouldn't want to operate a business with those margins.)
If he did, that would mean you could continue to waste energy for a few more years, and then what?
I agree, ML. I sense we are in a BIG bind. And it sure could get worse, as food prices (grocery and Restaurants) are bound to rise due to the excessive gas prices. Housing is in a major slump with sales and forclosures, the dollar has dropped to record lows, companies are going bankrupt, unemployment is on the rise.
Of course I could be wrong, as all the news articles and economists may be lying to (or just kidding) the public.
The price of MOST commodities have increased, not just oil. It’s about the dollar and asset allocation. Greenspan just postponed the needed stock market correction.
At least while reducing some of the money we throw overseas--maybe we'll have a few extra years to address 'the and then what'.
Living standards have never been higher.
I feel sorry for anyone caught in a financial bind due to poorly thought-out borrowing but most of them brought it on themselves. Let the market take housing prices where it will and then let the chips fall.
We have way too much hand wringing on this site.
We are 'Compassionate Conservatives.'
Now. What's for dinner? Forget about that corn on the cob.
It aint pretty
I had in my memory that it was close to 38 percent of GDP to support horse drawn transportation. I cannot source that but if anybody else could that would be interesting to see.
True. Technically you are not dead until someone says you are.
Assumming there's 20 billion to be had, and assuming all 20 billion is economically feasible to pump and refine . . .
How long do you expect 20 billion barrels to last when America burns 7+ billion barrels a year?
And when do we talk conservation, when we are down to the very last drop of oil on the planet?
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