Oil hit $110 / barrel today

God, I love Revisionist-history... I could sit and watch it for hours...

LadyJazzer wrote: God, I love Revisionist-history... I could sit and watch it for hours...

So in your simplistic eyes, the whole recession was caused by derivatives?
You really need to expand your horizons beyond the simple Left/Right paradigm and talking points.

Anf for you not to believe that talk of a bad economy cannot create a recession, I suppose you also believe that fear of inflation can't create inflation either.

You do love to put words in my mouth, and extrapolate what you think I think...

Have fun with that...

Just like a politician, I ask you a question, and you deflect. Sure you aren't related to Romney? lol

Still waiting for an answer...

The price of oil has quite a ways to go before it hits the $145 a barrel while George W Bush was the President.

JSG wrote: The price of oil has quite a ways to go before it hits the $145 a barrel while George W Bush was the President.

But people actually had good paying jobs to afford it when "W" was in.

Now they are unemployed, on food stamps, underemployed, underwater on their homes, foreclosed on, etc.

The US is actually exporting more than it imports now, but oil prices are driven by speculators, just like the stock market and housing crisis. Get the speculators out and things will settle down.

FredHayek wrote:

JSG wrote: The price of oil has quite a ways to go before it hits the $145 a barrel while George W Bush was the President.

But people actually had good paying jobs to afford it when "W" was in.

Now they are unemployed, on food stamps, underemployed, underwater on their homes, foreclosed on, etc.

Hmm. You paint a gloomy picture of the economy today. I don't know anyone unemployed, or on food stamps. I know there ARE people like that but I sure don't run into them.

I wonder why consumer spending is up and big ticket items are being bought, if the economy is in as bad a shape as you claim?

Wily Fox aka Angela wrote: The US is actually exporting more than it imports now, but oil prices are driven by speculators, just like the stock market and housing crisis. Get the speculators out and things will settle down.

Exactly... With the speculators and futures-markets, "supply & demand" goes out the window...

Isn't it funny how the apologists came up with a thousand reasons why Bush couldn't be blamed when the prices were between $4-$5/gal in 2008; but somehow, those same rules don't apply today... rofllol

Wily Fox aka Angela wrote: The US is actually exporting more than it imports now, but oil prices are driven by speculators, just like the stock market and housing crisis. Get the speculators out and things will settle down.

Exports more what?