This piece was written Friday, October 23rd, 2009.
The topic concerns the price of oil, for one; but chiefly does so as a matter by considering several other multidimensional faces …noe the least of which also incuded the anticipated effect which “Cap and Trade” woul likely have upon the price of fuel in every shape and form.
I wrote it in an attempt to illustrate the futility of such a hair-brained socialist answer and approach to generate tax revenue …rather than focus on free enterprise solutions to raise revenue.
Wham! Bam! No Thank You Man!
Brazil’s coming out and tightening their monetary policy.
China’s come out and indicated that they will be tightening soon.
Several other countries’ economic health bodes well for their GDP Growth in view of their recovery’s picture.
That translates to a direct tax on the U.S.
Increased foreign consumption …and demand for oil which is and will continue to grow …coinciding at a time when the U.S. can ill afford to do anything but speak loudly …
After all …the U.S. can’t and doesn’t carry big sticks any more.
Up until now, in spite of the dollar denominated commodity, oil has suffered through contango which suffered through slumping demand.
That’s changing. Have you filled up lately? Then you know, we are walking through this door …the door of increasing demand and falling inventories.
So, in this environment …all the Fed has in its arsenal …is primarily “HOT Airâ€ and requests for mercy in terms of any world unity through the G-20.
After all, sovereignty isn’t what it used to be …especially when you are …like the U.S. is …up to our eyeballs in debt.
Can you say that I won’t be paying $5.oo to $ 6.00 for a gallon in the near future?
At that time, good luck finding an affordable home mortgage rate below % 10.
That’s just weak …
…a weak dollar …in the wake of our strong commitment under rather stronger and relatively more important considerations …in the form of demands whose interests are becoming more and more …primarily obliged to baby-sit our debt load.
Now, that is a big stick which is too big enough to fail.
As such, it is also big enough to clobber the likes of you and me.
The thrashing from which is yet to come …howbeit totally unavoidable.
And the Obama administration wants to tax our energy use to boot?
Can you say; Kick a dog when he’s down?
I feel a double thrashing coming on …Wham …BAM.
Oh, Doctor! Doctor!
Can you say Obama? …No thank you Ma’am!
I’m just saying …