JUST HOW MUCH MORE 'CHANGE' DO YA THINK YOU CAN STAND?

[CAP1]

Actually, it's pretty much with right on. If we still had a republican congress, gas would probably be back at $1.50-$2.50. Only reason the Republican congress left with gas at 2.10 was the crisis Katrina.


The American people got what they deserved and they're suffering for it. Congrats to them.

And the Democrats them is the 'Cut and Run' tactic. I'd rather have 'Everyones fault but my own' than 'Cut and run' atleast I got the balls to blame it on someone other than myself.

katrina was not a good excuse for the prices to skyrocket like that.

if the congress can really control gas prices, lets challeng the repubs then. we vote them back in, and within 6 months of their taking office, we get our gas for 1.50 a gallon again. i think that'll never happne though

[FrodeMk3]

--------------------------------------------------------------------------------
Hey folks.......facts are facts!!
This has to make you think a little bit, if not, then keep your blinders on!
 
George Bush has been in office for 7 1/2 years.  The first six the economy was fine.
A little over one year ago:
            1) Consumer confidence stood at a 2 1/2 year high;
            2) Regular gasoline sold for $2.19 a gallon;
            3) the unemployment rate was 4.5%.
            4) the DOW JONES hit a record high--14,000 +
            5) American's were buying new cars, taking cruises, vacations OSes, living large!...

 

But American's wanted 'CHANGE'!   So, in 2006 they voted in a Democratic Congress & yep--we got 'CHANGE' all right. In the PAST YEAR:
            1) Consumer confidence has plummeted ;
            2) Gasoline is now over $4 a gallon & climbing!;
            3) Unemployment is up to 5% (a 10% increase);
            4) Americans have seen their home equity drop by 12 Trillion dollars & prices are still dropping!!!!
            5) At least 1% of American homes are in foreclosure.
            6) as I write, THE DOW is probing another  low~~11,100--
            $2.5TRILLIONDOLLARS  HAS EVAPORATED FROM THEIR  STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS!

                 
YEP , IN 2006 AMERICA VOTED FOR CHANGE!...AND WE SURE AS HELL GOT IT!!!....NOW  OBAMA, the DEM'S CANDIDATE FOR PRESIDENT--AND THE  POLLS SAY HE'S GONNA BE 'THE MAN'--CLAIMS HE'S GONNA REALLY GIVE US CHANGE!!....JUST HOW MUCH MORE 'CHANGE' DO YA THINK YOU CAN STAND???!!!!???

What you don't understand, Stage 1, is that everything started tanking slowly since 2001. The invisible shift of our Manufacturing to China; Your gas of $2.19 in 2006 was $1.28 in 2001. The houses' on the market were still affordable in '01, but Boosh and his repub congress turned a blind eye (or simply didn't give a damn) about curbing it before it got out of hand. Katrina' impact on oil prices' was bloated and bogus, and the gov't. knew it. The biggest impact on oil prices' has been our involvement in the middle east, and problems' with other OPEC nations' like Venezuela...And not even keeping tabs' on what Oil companies were doing. None of the problems' you listed popped up in such a short time. They've been building up since GWB's first term, and getting out of hand. It will take about 3 presidential administration's to fix the damage, if that.

[mietla]

4.5% to 5% is only .5% increase

think again. It is actually more that 10% increase

0.5/4.5 * 100 = 11.11 %

[ROX]

Your stats are bogus.

Outside of a 4 word answer, can you refute those stats?

And...when's the last time you had shrimp & grits?  I put imitation crabmeat in the last time and it was awesome.)






ROX

[NOT]

lets not forget that the dems have been in control of congress for two years. now the last time i checked, they have done absolutely NOTHING   to curb any of these problems. elect osamabama, and no one will be able to stop the havoc the socialists will wreak on our nation.




NOT

[CAP1]

think again. It is actually more that 10% increase

0.5/4.5 * 100 = 11.11 %

maybe i was missing something?

4.5 + .5=5?

or is there new math?

[Stage1]

Take 5 -10%= 4.5   (duh!)   So there is your 10% increase!!

[Fulmar]

As much as I'd like to agree with the original post, I cannot since no sources are cited.  I mean I could make up whatever somewhat believable stats I want.

E.g.
The unemployment rate was actually 4.9% and your mother's maiden name was really toejamzoomski.

[Nashwan]

I know an election is coming up so people have to try to make the opposition look bad, but is there anyone who seriously believes high US gasoline prices are caused by the actions of congress since November 2006? Seriously? If so, by what possible mechanism?

[MORAY37]

Actually, it's pretty much with right on. If we still had a republican congress, gas would probably be back at $1.50-$2.50. Only reason the Republican congress left with gas at 2.10 was the crisis Katrina.

You have no understanding on this subject.  The Republican controlled congress repealed the acts that were controlling the way investors put their money into the commodities. http://seekingalpha.com/article/81243-the-enron-loophole  This has accounted for around 55% of the increases in direct gas prices at the pump.  The fact that you ignore this fact and continually vomit BS is astounding.


QUOTE IS FROM HYPERLINK ABOVE

What I do want to get to is what has come to be known as the “Enron Loophole”, a provision that was slipped into the bill literally in the dead of night by then-Senator Phil Gramm [R – TX].


The provision, allegedly at the behest of Ken Lay of Enron, exempted from regulation energy trading on electronic platforms. This provision is believed to be the primary reason for the spike in electricity costs in California in 2001 and is at the heart of the debate re the speculation in oil prices today.

The most vociferous of the expert witnesses at last Tuesday's congressional event was I. Michael Greenberger, professor of law at Maryland University and former CFTC Director of the Division of Trading & Markets (1997 – 1999). Professor Greenberger argued that the “Enron Loophole” provision in the CFMA produced a change in the supervision of certain commodities (energy, for example) that had been in place since 1922 thereby enabling Enron to engage in their trading practices (with led to the electricity crisis in California in 2001) and the development of “dark markets” (Intercontinental Commodities Exchange in Atlanta, for example) enabling unlimited positions and limited transparency to be established by speculators. All outside the purview of the US regulatory bodies such as the CFTC.

Currently, an attempt to eliminate the “Enron Loophole” has been attached to the massive farm bill (amendment by Sen. Carl Levin) that was passed with a veto proof majority and has been threatened with a veto by President Bush for stated reasons that are suspect, at best.

There are several dimensions to this dynamic issue and they will be explored in the coming days. But let me leave you with a few initial observations:

1 - There is a real probablity that investment banks will be at risk as last week’s testimony makes abundantly clear. One point illustrates the danger – Professor Greenberger noted that the largest holder of heating oil for New England residents is Morgan Stanley. Related to this, George Soros and other panelists noted that hoarding is taking place, as the incentive to convert a rising and controllable asset such as heating oil to US dollars (which is in a structural decline in value and not controllable) is not in the investment banks' interest.

2 – The obvious direct economic impact cannot be overstated. From consumers to industries (airlines, for example) are being effected by the speculation of indexers and hedgies. With consumers stressed and industries on the verge of bankruptcy, the uproar in an election year will not go unnoticed. To that end, consider the following point re the upcoming presidential election.

3 – Former Senator Phil Gramm is acknowledged as the key economic advisor to Senator John McCain. Senator McCain has joined President Bush in opposing the current farm bill for the same apparent reasons. However, in Senator McCain’s case the reason may be more ignorance by relying on his economic advisor, Sen. Gramm, than the more nefarious supporting of the Enron Loophole. The bottom line is there is real risk that McCain will look more than a touch clueless on the key economic matter of the price of energy.

Investment Strategy Implications

At last week’s congressional hearing, several experts testified to what the fair value of oil might be – a subject that I wrote about last week, without knowledge of the actual testimony. It was interesting to hear that my rather simplistic calculation of where the fair value of oil might be (approx. $80) matched very closely to several expert witnesses’ estimates, as well as the more sophisticated analysis conducted by Exxon Mobil and Shell Oil.

The coming weeks will be telling as the farm bill works its way into law. And then we shall see if $130 oil is really only about real economy supply and demand and not the supply and demand of the speculators.

[FrodeMk3]

I know an election is coming up so people have to try to make the opposition look bad, but is there anyone who seriously believes high US gasoline prices are caused by the actions of congress since November 2006? Seriously? If so, by what possible mechanism?

If I were to take a half-hearted stab at that one, Nashwan, I'd say that Gov't. de-regulation could be a culprit.

[MORAY37]

If I were to take a half-hearted stab at that one, Nashwan, I'd say that Gov't. de-regulation could be a culprit.

Specifically, deregulation in 2001 of the electonic investment platform.

[Stage1]

U.S. jobless rate jumps to four-year-high 5.7%  (www.marketwatch.com)
Oil futures close above $125, up 1.5% for the week  (www.marketwatch.com)

"Consumers' assessment of current conditions was little changed, suggesting there has been no significant improvement, nor significant deterioration, in business or labor market conditions. Looking ahead, while consumers remain extremely grim about short-term prospects, the modest improvement in expectations, often a harbinger of economic times to come, bears careful watching over the next few months."  ( http://www.conference-board.org/economics/ConsumerConfidence.cfm)


  Dow Jones Averages
 
 
  Dow Jones Industrial Average
 1 Aug
16:04
 11326.32   
 -51.70   
 -0.45   
 -1886.80   
 -14.22   
 
Dow Jones Transportation Average
 1 Aug
16:05
 4949.22   
 -122.69   
 -2.42       
 
Dow Jones Utility Average
 1 Aug
16:08
 469.53   
 -15.35   
 -3.17   
 -47.65   
 -8.95   
 
  Dow Jones Composite Average
 1 Aug
16:08
 4069.79   
 -68.26   
 -1.65   
 -256.01   
 -5.83   

Indicative Dow Jones Industrial Average (U.S.$)
 1 Aug
09:29
 11371.88   
 -4.85   
 -0.04   
 
 Indicative Dow Jones Industrial Average (euro)
 1 Aug
16:04
 8518.45   
 -6.52   
 -0.08   
 
(www.djindexes.com)
 
 
 L.A. Times blogs on Dataquick’s announcement that foreclosures are running 261% ahead of year ago levels. (L.A. Times)
 
 
 

[FrodeMk3]

U.S. jobless rate jumps to four-year-high 5.7%  (www.marketwatch.com)
Oil futures close above $125, up 1.5% for the week  (www.marketwatch.com)

"Consumers' assessment of current conditions was little changed, suggesting there has been no significant improvement, nor significant deterioration, in business or labor market conditions. Looking ahead, while consumers remain extremely grim about short-term prospects, the modest improvement in expectations, often a harbinger of economic times to come, bears careful watching over the next few months."  ( http://www.conference-board.org/economics/ConsumerConfidence.cfm)


  Dow Jones Averages
 
 
  Dow Jones Industrial Average
 1 Aug
16:04
 11326.32   
 -51.70   
 -0.45   
 -1886.80   
 -14.22   
 
Dow Jones Transportation Average
 1 Aug
16:05
 4949.22   
 -122.69   
 -2.42       
 
Dow Jones Utility Average
 1 Aug
16:08
 469.53   
 -15.35   
 -3.17   
 -47.65   
 -8.95   
 
  Dow Jones Composite Average
 1 Aug
16:08
 4069.79   
 -68.26   
 -1.65   
 -256.01   
 -5.83   

Indicative Dow Jones Industrial Average (U.S.$)
 1 Aug
09:29
 11371.88   
 -4.85   
 -0.04   
 
 Indicative Dow Jones Industrial Average (euro)
 1 Aug
16:04
 8518.45   
 -6.52   
 -0.08   
 
(www.djindexes.com)
 
 
 L.A. Times blogs on Dataquick’s announcement that foreclosures are running 261% ahead of year ago levels. (L.A. Times)
 
 
 

A year and a half ago, the DJIA was breaking 14k. What it's fallen to now, can be directly attributed to the Credit/Mortgage crisis. That can also be said for the jobless rate, as well. The price of oil isn't really affected by the stock market so much as other factors.

[Mustaine]

maybe i was missing something?

4.5 + .5=5?

or is there new math?

what is 10% of 4.5?


it's not that hard to figure out dude, it's .45

what is 5% of 4.5? isn't that .225