Originally posted by: Vic
Originally posted by: Hayabusa Rider
Originally posted by: Genx87
Originally posted by: Vic
There's NO question though that his economic and foreign policies do share a large burden of the blame, as does his Calvin Coolidge-like attitude and lack of leadership towards the situation he has been instrumental in helping to create.
What besides Iraq can he do to stop the price of oil from rising?
He can't stop it. However his war threw the match on the whole situation. War=instability=uncertainty=increase in futures prices.
There isn't an increase in consumption that would cause the current prices (and the timing of those prices should be noted).
We were all told sacrifices were needed. It was the nature of those which weren't understood.
The hens are coming home to roost.
This thread is giving me deja vu. I swear we've had this exact same discussion before.
Anyway, as much as the war has been his economic policies. His admin has intentionally tanked the dollar.
So you have all these factors adding up. Geopolitical instability in major oil-producing regions, increases in demand in developing countries like China, the declining dollar, collapsing housing and banking markets, and excess liquidity being pumped into the markets by scared central banks. The sum total of all this is the next liquidity bubble: commodities, led by oil.
And in the meantime, George W. Bush is asleep at the wheel... as always. Just once -- ONCE -- I'd like him to man up and take some accountability. But no worries, less than a year from now and it will be history holding him accountable. And placing him among the ranks of Buchanan, Coolidge, and Grant.