Friday, August 19, 2011

Want a reason for high prices?.....

Watch the price of oil! Scam artists taking advantage of Oba mama's failure of leadership and Republicans kicking his ass.

Stock market crazy? Trillions of dollars are sloshing around the globe looking for safety or profits. Bonds selling like hotcakes? The safety net for the big boys because:

The US can never go bankrupt and can pay everybody back their money!

In the mean time, Oba mama wants to raise taxes on the big boys and the Republicans want to slash government spending killing the economy!

Mike Norman Economics: Why are you paying more for gas? Speculators from Bill Gates to the Yale endowment are buying oil futures
Why are you paying more for gas? Speculators from Bill Gates to the Yale endowment are buying oil futures


What a joke. As people struggle to pay their bills and put food on their table we allow rich individuals and university endowments to buy oil futures, adding to upward price pressures. Meanwhile, nothing is done. Then, when people demand to know why this is happening, they are given bogus excuses about China and not allowing offshore drilling.


"A range of investors were in the market, too. Yale University, Singapore's government, hedge funds Brevan Howard and D.E. Shaw & Co., as well as pension funds for Texas teachers and Danish workers all held positions, according to the list.

Also featured were a handful of individuals, including Aubrey McClendon, chief executive of Chesapeake Energy Corp. (CHK - News), one of the nation's largest producers of natural gas. Cascade Investment LLC, the investment arm for Microsoft Corp. (MSFT - News) co-founder Bill Gates, appeared."

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