Monday, October 6, 2008

Low oil in exchange for high debt?

As we all have been reading the news, watching TV, and pulling our hair out over our countries attrocious behavior when it comes to managing money, I found one great positive. Lower Gas Prices.

Now, I myself am really confused. If the economy is crumbling. Mortgage giants are failing. Hobo's are being churned out faster than china makes cheap products, how come the price of Oil is coming down?

Did the demand decrease? no
Did our independece from oil increase? no
Are we winning really well in some war? No

So why did these prices all come down?

Ahh yes, loophole trading has stopped! Those giant companies that once would speculate on the market to make billions in profits, allowing shell, BP, and chevron to raise prices so they can keep up with the luxurious lifestyles of the loophole traders.

Well now the loophole traders are bankrupt. They ran out of speculated money to spend. Of course they still have millions of profit squirreled away in the caymans, luxury cars, and multi-million dollar homes, but they need the taxpayer help. Yep, thats right. Instead of making those who made the problem pay, we are going to pay for them. Now wouldn't that be great if we could do that with our loans and mortgages? I mean, how awesome would it be to say "ohh, sorry wells fargo, I took out this loan, knowing it was a risk, and I probably couldn't pay it back, so here, go raise corporate taxes to pay for it.

Darn, Sadly that isn't happening. It makes me pretty depressed too. I was almost certain that these companies would be forced to bail themselves out. Fix their mistakes. Pay for their illegal actions! Darn! I was wrong. Sadly as soon as we fix this credit crisis, those companies start making massive profits again, they can start speculating more, and the oil companies can raise prices more, and all those hobo-americans can sit there, and suffer. As usual. Lets fuck the working class.

I think Dilbert, in his infinite wisdom and ability to see the Future summed it up the best in 2002 with this comic.

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