Oil just went past $135/barrel and it's going to go higher. A large part of this run up is speculation. You know, people drive up the price and then bail on the market when mom and pop jump in thinking they're missing out on some easy profit. Kinda like what happened in housing. Note to mom and pop: these scumbags are professional profiteers and they are licking their chops waiting for you to jump in the market.
It was bad enough we bailed out real estate speculators. But if I have to read any sob stories about greedy bastards who lose their shirt buying oil futures when the bubble pops, and how the government needs to bail them out, I'm going to scream!
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Thursday, May 22, 2008
Bail Outs
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2 comments:
In that case, you'd better start doing your vocal warm ups now, so you don't strain anything. Greed-heads are so keen on their corporate welfare I think they do this stuff on purpose just to get it. Then they use it to buy plane tickets to go visit their siphoned profits in the Cayman Islands.
You'd think the fact that so many of us are on to them would stop them, or make them smarter, but no.
You'd like reading Naomi Klein's book about this Disaster Capitalism...we're with you 110%, and I HATE the investment bankers milking the top 30% out of EVERYTHING including food and oil, and our health. See.. we should have gone to dinner with you in New York...we'd be talking non-stop. Hope all was well on your return home.
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