100% true george . I watched the same hearings.
All this Reaganomics and deregulation is the real problem. Bush and his heritage foundation economic plans are about to drive us into bankruptcy with their continuation of Reagans policies. Clinton is their paid hack to he is nothing but a political whore for sale to the one with the most money.
Strange thing is anybody with a little sense should have seen this coming. Guess the US has a lot of stupid people in it that is proven by the Bush voters who have election after election voted against their own economic interests.
People are nuts and when the economy crashes we will all feel the pain along with the nuts who voted for this for the last 20 plus years.
But I am ready I can feed myself and several others and not depend on this economy.
Quote:
Originally Posted by George O Well
>>>I watched about an hour of C-Span's coverage on the Senate's investigation yesterday. That's my source.
And no, it's not based on current market conditions. You have Lehman Brothers, Morgan-Stanley, etc. buying up huge quantities of oil on 6% margins, which they couldn't have done before de-regulation in 2000. Not only that, because the investment banks have fucked up every other market, oil is about the only place left to put their cash, creating a bidding war. Morgan-Stanley is now the largest owner of heating oil in the northeast.
But if the true cost of a gallon of gas in your tank is $2.20, and that price includes drilling, shipping, refining and mark-up at the pump, everything above that HAS to be the result of speculation, right? We've NEVER had "built in" speculation prices that high. EVER.
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