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But these very tools were celebrating high gas prices on here under Obama because they said that the higher the gas prices went, the better the economy was..
Utter garbage, considering higher gas prices means less money to be spent on other things..
Obam HIMSELF said high gas prices were the result of failed energy policies of the president
Repeating what I said in #83:
And McCain blamed socialists like Obama for high gas prices.
Everyone blamed greedy Arabs and SUVs.
Is all fair in love, war and politics?
I suspect none of them had a clue why gas prices suddenly spiked in the summer of 2008.
The reason was that Wall Street opened up a new gaming table called Commodity Index Investing and it became the hottest game in town. The roots can be traced back to 2003 when the CFTC quietly allowed pension funds to enter the casino. Back then pension funds had a lot of choices for investments including private label mortgage-backed security derivatives that were deemed investment grade by independent credit rating agencies.
As the 2000's wore on and markets became more dicey each day, Commodities Index investing was the last thing left on the institutional investment menu that was not completely messed up. The stock market, credit markets and the housing market had or were about to implode. Betting on stuff that people cannot do without, like food, gas and oil made sense. When enough investment money bets prices will go up, they go up.
And McCain blamed socialists like Obama for high gas prices.
Everyone blamed greedy Arabs and SUVs.
Is all fair in love, war and politics?
I suspect none of them had a clue why gas prices suddenly spiked in the summer of 2008.
The reason was that Wall Street opened up a new gaming table called Commodity Index Investing and it became the hottest game in town. The roots can be traced back to 2003 when the CFTC quietly allowed pension funds to enter the casino. Back then pension funds had a lot of choices for investments including private label mortgage-backed security derivatives that were deemed investment grade by independent credit rating agencies.
As the 2000's wore on and markets became more dicey each day, Commodities Index investing was the last thing left on the institutional investment menu that was not completely messed up. The stock market, credit markets and the housing market had or were about to implode. Betting on stuff that people cannot do without, like food, gas and oil made sense. When enough investment money bets prices will go up, they go up.
McCain isnt president, so repeating nonsense that has nothing to do with the topic is just that.
The rest of your stuff is valid, but since Obama is President, its fair to use HIS WORDS when discussing the Presidents impact on the price of gas.
McCain isnt president, so repeating nonsense that has nothing to do with the topic is just that.
The rest of your stuff is valid, but since Obama is President, its fair to use HIS WORDS when discussing the Presidents impact on the price of gas.
The topic has to do with using facts that happen to be true in a way that creates a false impression. Saying that "gas prices doubled under Obama" sounds bad. Understanding that gas prices doubled under Obama -- back up to the place they started isn't damning. Making the first statement while omitting the second makes the first statement misleading.
The topic has to do with using facts that happen to be true in a way that creates a false impression. Saying that "gas prices doubled under Obama" sounds bad. Understanding that gas prices doubled under Obama -- back up to the place they started isn't damning. Making the first statement while omitting the second makes the first statement misleading.
But gas prices DID double under Obama, just like they actually tripled under Bush. The fact that they fell between the two, doesnt change the FACTS, especially considering Obama and the Democrats were shouting about bad presidential policies caused it to go in the $3.50 price range..
But gas prices DID double under Obama, just like they actually tripled under Bush. The fact that they fell between the two, doesnt change the FACTS, especially considering Obama and the Democrats were shouting about bad presidential policies caused it to go in the $3.50 price range..
What happened to all of those bad policies
You mean things like Bush starting an unnecessary war in Iraq?
From the mid-1980s to September 2003, the inflation adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. Then, during 2004, the price rose above $40, and then $50. A series of events led the price to exceed $60 by August 11, 2005, and then briefly exceed $75 in the middle of 2006. Prices then dropped back to $60/barrel by the early part of 2007 before rising steeply again to $92/barrel by October 2007, and $99.29/barrel for December futures in New York on November 21, 2007.[1] Throughout the first half of 2008, oil regularly reached record high prices. On February 29, 2008, oil prices peaked at $103.05 per barrel,[2] and reached $110.20 on March 12, 2008,[3] the sixth record in seven trading days.[4][5]Prices on June 27, 2008, touched $141.71/barrel,
There was not much Obama could do about Iraq except to pull our troops out and end the war.
Quote:
From Simmons' point of view, the invasion of Iraq is associated with the start of long-term increase in oil prices
So Obama is now essentially stuck with the high oil prices brought on during the Bush years, and the entire country has to live with them for who knows how long?
Thanks again Bush .... another "Mission Accomplished" !!!
McCain isnt president, so repeating nonsense that has nothing to do with the topic is just that.
The rest of your stuff is valid, but since Obama is President, its fair to use HIS WORDS when discussing the Presidents impact on the price of gas.
The Mc Cain reference related to another post. The point was and remains, everyone blamed everyone and it's unlikely any of them really knew why gas prices spiked as they did in 2008.
There was not much Obama could do about Iraq except to pull our troops out and end the war.
So Obama is now essentially stuck with the high oil prices brought on during the Bush years, and the entire country has to live with them for who knows how long?
Thanks again Bush .... another "Mission Accomplished" !!!
So the war is over, I guess since the prices havent dropped there must be some other presidential policy to blame, right?
The Mc Cain reference related to another post. The point was and remains, everyone blamed everyone and it's unlikely any of them really knew why gas prices spiked as they did in 2008.
Yes, everyone blamed everyone, but dont you think we should be electing someone who knows what the hell their talking about, not someone who blames Presidents and then back peddles after its proven they dont have a dam clue?
But gas prices DID double under Obama, just like they actually tripled under Bush. The fact that they fell between the two, doesnt change the FACTS, especially considering Obama and the Democrats were shouting about bad presidential policies caused it to go in the $3.50 price range..
What happened to all of those bad policies
Presidents have no control over gas prices.
It's just another talking point in the life of a politician.
The CFTC quiet call in 2003 to allow pension funds to invest in commodity indexes had far reaching consequences. The Wall Street lobby won. In 2004, the same lobby persuaded the SEC to allow investment banks with > $5MM in net capital to apply for exemptions to certain accounting rules to increase leverage. The fab 5 investment banks ( Bear, Lehman, Merrill, Goldman and Morgan Stanley) wasted no time applying and got the green light. It played a significant role in all that followed.
I cannot imagine Bush was personally aware of this or if he was, he understood.
Somewhere in all of this, one is likely to find a few greasy Congressmen and Senators who "influenced" outcomes. No telling who or if they understood the implications beyond the need to protect special interests.
Presidents have no control over gas prices.
It's just another talking point in the life of a politician.
The CFTC quiet call in 2003 to allow pension funds to invest in commodity indexes had far reaching consequences. The Wall Street lobby won. In 2004, the same lobby persuaded the SEC to allow investment banks with > $5MM in net capital to apply for exemptions to certain accounting rules to increase leverage. The fab 5 investment banks ( Bear, Lehman, Merrill, Goldman and Morgan Stanley) wasted no time applying and got the green light. It played a significant role in all that followed.
I cannot imagine Bush was personally aware of this or if he was, he understood.
Somewhere in all of this, one is likely to find a few greasy Congressmen and Senators who "influenced" outcomes. No telling who or if they understood the implications beyond the need to protect special interests.
yes I know presidents have very little control over gas prices, but you cant forget how the left wingers were going gaga because obama released gas from the oil reserves saying that prices were going to collapse..
Clearly that didnt happen.
Him saying it because he's a "politician" is completely unacceptable. he said it cause he believed it.. he was either lying, thus shouldnt have been elected, or he doesnt have a dam clue what he was talking about, which makes him winning even more laughable.
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