With economy crippled and nothing passed to fight it, Congress vacations

With economy crippled and nothing passed to fight it, Congress vacations

rawstory.com

With reports of gas prices climbing towards $7 a gallon and a continuing foreclosure crisis, Congress is doing what polls show most Americans expect it to.

Not a whole lot.

Congress has gone on holiday through July 4th, ABC News reported, going on vacation without having agreed on energy legislation or a bill to rescue homeowners threatened with foreclosure.

(visit the link for the full news article)

Of course, they don't care about the middle man. If they can continue to rake in the money to line their pockets, it's all good for them. From DD, CONgress, where are you at for the PEOPLE.

rawstory.com
(visit the link for the full news article)

LOL! Goes right hand in hand with the rest of their apathy for the country and its people..."Let's pass through the treasonous FISA bill, then kick it in the caribbean at the peon tax-payers expense."

Man, are we ever in desperate need of a COMPLETE overhaul of this entirely polluted and criminal system. It's rotten to the core on all sides.

Hmm any surprises anyone? Part of the 2 party dictatorship. They dont give a damn. They wont care till the people start to riot in Washington. They are worthless and all need to be voted out of office.

Originally posted by mybigunit
Hmm any surprises anyone? Part of the 2 party dictatorship. They dont give a damn. They wont care till the people start to riot in Washington. They are worthless and all need to be voted out of office.

The ballot box has never in the history of man served as an instrument for the removal of a tyrannical government. The only instrument that has ever dutifully served that role has been the rifle. And no other instrument will EVER take its place.

And when they come back, they will vote on the blockade of Iran, which is a HUGE escalation to war.

Ah congress! The illusion of democracy.

I am not trying to defend Congress...but where in the US is gas nearing $7 a gallon. This is gross over-exaggeration, I live in the 4th most expensive state for gas and in the last week my regular station (which is more expensive than most) has been frozen at 4.35 a gallon. I understand that Congress is failing so far in thier duty to us "commoners" but maybe they are still trying to figure out what the hell to do.

reply to post by Stumpy1


Here is a thread on the gas issue rising even further:

OPEC - Oil To Reach $170 This Summer; West Leaders Look Dazed

At $170 a barrel, that is $4.05 a gallon PLUS the above costs. At the pump that means about $5.45 a gallon.

That is this summer alone, imagine winter.

What Congress can do to lower gas:

Too many to name, I'll let someone more knowledgeable speak on this one.

Originally posted by jhill76
reply to post by Stumpy1

 

Here is a thread on the gas issue rising even further:

OPEC - Oil To Reach $170 This Summer; West Leaders Look Dazed

At $170 a barrel, that is $4.05 a gallon PLUS the above costs. At the pump that means about $5.45 a gallon.

That is this summer alone, imagine winter.

What Congress can do to lower gas:

Too many to name, I'll let someone more knowledgeable speak on this one.

Ok I still dont see gas approaching $7 a gallon from that...you could easily say that gas is approaching $10 a gallon from that reasoning, I dont like the price of gas, nor do I think that it is necessary, we have no shortage of oil, I blame the speculators, and soley them, and next comes the people who support them by investing in oil futures because of their speculation, Regulation needs to come soon or maybe this time NEXT year we will be close to $7 a gallon, but not anytime soon. The good thing is that we most likely will not see this happen. Most European countries already pay $7-8 a gallon by our standard of the US$ when the global economy has finally had it then it will stop. The specualtors will be shut down in one fashion or another I feel so strongly on this that I would bet on it.

reply to post by Stumpy1


Please don't watch the news and repeat what their "Experts" say. This has nothing to do with speculators. The price of oil is being artificially driven up. There is no shortage in oil, if there was there would be lines at the pumps and government commercials on how to conserve our remaining supply. But we both know this.

And it isn't just us this is affecting. Here's a story from the BBC that talks about a global market sell-off being fueled by skyrocketing oil prices. The reason for this is because of fuel costs everything else is going up, including food, power, transportation, mail and parcel services, air travel and so forth and so on. This in combination with low wages, and outsourced jobs creates an environment ripe for the destructive force of inflation, systematically devaluing the dollar so that certain currencies can take their place such as the Amero.

This has nothing to do with speculators, or supply and demand issues(Both of which are the most recent excuses from these crooks). They are going to devalue the dollar to beyond depression numbers so that the only way to save the economy is to use the Amero. Part of it is in the green agenda. And GW(Although I believe is real) has become a very convenient excuse to sell a green infrastructure agenda, and an economic redevelopment agenda. All while trade deals like NAFTA further integrate us into the North American Union.

The South American Union has already been taken care of. The European Union has been established. The Asian Union is in the works.

The eventual goal is one world government. But to get there they will lie and cheat. This "Oil Crisis" which is causing rampant inflation, is meant specifically to solidify these Unions into using regional Currencies. So that oil and other shared resources can be regulated by even fewer people. Making it a truly fascist world order.

But hey...I could just be nuts.


[edit on 29-6-2008 by projectvxn]

Actually you almost restated everything I did. Except it is the speculators who are causing the price increase. I don't watch the news, but I can see from the market that the speculators are most of the problem, the reason being that the speculators are unregulated, and of course there are higher powers at work to allow this because through the speculators they make money. So the speculation goes unchecked because they are making money for everyone else investing in them. The price to pull a barrel of oil out of the ground remains unchanged yet the price at the pumps continues to go up. The price to refine oil may have risen a few cents a barrel because of inflation but the speculators reign and the rewards of those investing is what is driving the gas prices up. Wait and see, regulations will come through the line and the price will go down to a more economical level, this is a black gold run along the lines of the tech stock run in the late 90's and will stop soon.

reply to post by Stumpy1


Speculators are simply the villain of the week right now. A couple of weeks ago it was BIG OIL. A couple of weeks before that it was OPEC. Before that weak dollar, before that emerging economies. The fact is it is all of these things and more. Were it simply speculation driving prices, you would see a large drop in prices when the front month contract is set to expire. as speculators, since they don't want to take delivery must sell and roll into future month contracts.

There is a definate need for better regulation of OTC and electronic markets, but since oil is traded in places other than the US only some type of agreement between different regulatory authorities internationally would have any real effect on speculation.

I've said it before and I'll say it again. If you want to blame anyone for high oil, start in the mirror and move up from there. Blame yourself for buying that SUV in the 90's, blame democrats and environmentalists for not allowing development of domestic resources. Blame republicans for refusing to mandate sensible fuel economy standards, lack of a comprehensive energy policy.Blame both parties for taking things you eat and turning it to fuel. Blame that person in the third world who is finally able to afford a Tata (Indian car selling for about $1200) and wanting to drive around in it. Blame OPEC for being greedy (last time they were this greedy they sparked a decades long cycle of demand destruction and lower oil prices as new sources were found). Blame speculators for wanting to turn a profit. There is plenty of blame to go around.

I'm glad Congress is on vacation having accomplished nothing. I feel that they can only make things worse at this point. Sure they may be able to affect things short term but that only means it will be worse when things fall apart.

I must apologize, my post seemed a little abrasive after reading it back to myself.

Anywho. This is no .com bubble. This is going to get bad, really bad. This is going to take at least another administration(supposing two terms) to take place. The price of oil at this time will have gone through the freakin' atmosphere after Bush, or someone after Bush decides we have to bomb, bomb, bomb Iran. Then I would imagine a scenario that could cause gas prices to rise to 10-15 bucks a gallon. Basically unaffordable if inflation is allowed to continue unchecked. And it will be ignored. Same with the housing crisis, and the global credit crunch. There are TONS of things going on right now that are going to severely destabilize world markets just enough to "Rescue them" with new currency and new systems of "Trade". New systems of government may also play a part...We're already seeing that with the EU and the SAU.

[edit on 29-6-2008 by projectvxn]

reply to post by projectvxn


Europe is without doubt up to something that most certainly isn't in the interests of the people.

It's obvious to me that the 'speculators' are just the big banks et al who are trying to save their butts from their mortgage messes and recover their losses in that sector by driving the cost of oil and food through the roof. All of that low interest money that the FED has been giving out at auctions for the past 6 months; where do you think it has gone?? They certainly haven't lent it out to you or me. It is all but impossible for anyone to get approved for a mortgage today unless they have 20% down payment or equity, stellar credit, and at least a 5 year solid job history with the same employer. Follow the money folks. This is just round 2 of the mortgage mess and you and I are paying for it.

Our Gov't over the years has allowed this mess to unfold for whatever reason.
Either:
1-Their that blind and dumb
2-Their bought and paid for on both sides
3-Their Evil
or
4- Their brainwashed.

Any thoughts? I'm thinking all 4 apply in one way or another........

Stop the speculators! Drill our own resources now! More supply = lower prices. If the speculators see an increased supply in the future, the more likely they will short the price of oil, instead of seeing it continue to rise. Economics 101

Pelosi and the Democrats don't want lower gas prices, that might affect their election results this year. Any good news for the country is bad for the Democrats. It's been like that for a long time. Don't like the price of gas? Blame the "Pelosi Premium"

Oil producing countries really only have one major problem. Their product is priced in Dollars. By continuing to price their product in Dollars, they will continue to import our inflation. When the pressure from the collapsing dollar becomes to much and their populations come unglued, they will depeg from the Dollar and all that Reserve paper will come home. I can't stress enough how bad this will be for America.

Edit to add: The only thing the government can do is impose price controls. Which is just a band aid against inflation and never works.

[edit on 29-6-2008 by HimWhoHathAnEar]

There is a lot of truth to that 'Pelosi Premium". The dems WANT things to get as bad as they can get between now and the election so they can take action after the landslide democratic victories this November and then preach to us how they saved us from the evil republicans. They are all crooks and deserve a traitor's fate. You will see no action or the housing mess, the cost of food and oil or the war until early next year. The problems will be allowed to fester in order to foment the anger of the sheeple. It's all a game.

Going back to the Op, and avoiding the gas question, I'll just note that according to the old adage that the less the Congress and the gov't in general do, the better, we should be thankful.

This is of course the guiding principle of the founding fathers--set elements of govt against each other, to ensure the maximum of sand in the cogs of governance. Frankly, we should pour the Mojave Desert on Washington.