From Reuters:
President Barack Obama said on Thursday the U.S. attorney general was assembling a team to root out any fraud and manipulation in the oil markets that might be contributing to higher U.S. gasoline prices…
…”The Attorney General’s putting together a team whose job it will be to root out any cases of fraud or manipulation in the oil markets that might affect gas prices – and that includes the role of traders and speculators. We are going to make sure that no one is taking advantage of the American people for their own short-term gain,” Obama said.
Investigate yourself, Obama – “short-term gain” is what Obamunism is all about. In order to make it look like the economy is improving we’ve borrowed and printed trillions of dollars. We’ve essentially manipulated our whole economy in order to get stock prices higher, bail out failed banks and give you some GDP numbers which look like a recovery. But the cost of this, among other things, has been a crashing value of the US dollar – and that is why oil is at $110 a barrel and gold at $1,500 an ounce. It is also why our food prices are higher. Because, Barry, the problem is that when people make something of value they’re not going to take less value for their product…and as you have made each dollar less valuable, those who make, mine and grown real things want more of them for each item.
This isn’t brain surgery – and, in fact, people warned of this from the get-go. People were sending up flares, writing it up on walls, shouting from the roof tops – you can’t borrow and print your way in to real prosperity. It was said – all you’ll get for your printed and borrowed money is a few quarters of bogus “growth”, followed by a renewed crash. Well, just as was predicted, we got our few quarters of growth and now the economy is sputtering…but now not just in bad shape, but getting hit with a bout of inflation, in to the bargain. It’s called “stagflation” – and I predicted this result as far back as March of 2009.
And now that Obamunism has come a cropper, what does The One do? Naturally, he tries to sucker us in to thinking that oil companies – ie, enterprises which actually create wealth – are responsible. Not Obama. Not the Federal Reserve. Not Big Government. Oh, no – none of them are responsible. They were just there, minding their own business, wallowing in hopey-changiness and, whammo!, out of nowhere those SOB oil companies decided to force the price of oil higher just for the heck of it…just because they are mean and nasty and, at any rate, wasn’t Bush in the oil business? Don’t fall for it – the economic mess we’re heading in to originated in Washington, DC and is the result of deliberate policy choices made by the President of the United States of America.
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