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Monday, March 10, 2008

Oil now a record $107 a barrel

Actually, as of the most recent report it's $107.44 to be accurate. And there's little doubt it will be up quite a bit again by the end of the week.

Average gas price right now around here in north-central North Carolina is $3.19 per gallon.

Why is the cost of gas and everything else skyrocketing? It's not that there's a dwindling supply as many people will argue. No, right now it's more because of the depleting value of the U.S. dollar. With diminished buying power comes high prices across the board.

And lowering the interest rates combined with pumping more Federal Reserve notes into the system is not going to do a damned thing to help matters. In fact, they will make things considerably worse by further driving down the dollar's value.

Nor will this "stimulus package" pushed on us by George W. Bush and Congress do anything. "Stimulate the economy by encouraging spending"? Feh! If President Bush actually bought his own food and pumped his own gasoline (something I doubt he has done in at least fifteen years) he would realize that for most Americans the money from the "stimulus" is going to be gone within a day, used on bare necessities like gas to get to one's job, and food for the children.

No folks, the "stimulus" by Bush and Congress is just another socialist program disguised as a cheap ploy to distract our attention while the economy falls into ruin. If these supposedly "brilliant" leaders wanted to really remedy the economy, they would (a) seriously cut taxes, (b) SERIOUSLY cut spending, which will never happen and (c) get the United States the hell out of places that it has no business being in the first place, like Iraq, which has become a drain down which $12 BILLION a month of our money is being flushed... to say nothing of the cost in human life. And again, for no reason other than the arrogance and grandeur of a few who should have never been trusted with power and responsibility to begin with.

The things that these people wanted to do and are doing was going to come at too high a price to begin with. Now we are all having to pay for it.

Maybe it's for the best. Perhaps it takes being knocked down a peg or two to come to our senses. And given the course that America is now hellbent on pursuing, maybe letting our economy fall into utter collapse will be a good thing in the long run. Lord willing, a stronger, hardier and wiser people might rise from the rubble, having learned the lessons of the folly of this current generation. If America is to yet have a bright and shining future, her posterity will be beyond false dichotomies and petty pageantry.

I still think that it's possible with this country. But if we want that for our children, we are going to have to suffer for it after having suffered fools more than we should have.


Anonymous said...

It's now at 108 and not stopping!!!!

Anonymous said...

It doesnt look like we traded blood for oil after all. Cause with as much as we have invested in the middle east. Oil should be 15.00 a barrel. I guess we didnt go to war over oil.