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Lip-smackingly d…

PattyJ on October 15, 2008 at 11:25 AM

Months??? Yeah right, two weeks max.

This relief would be a down payment on the Obama-Biden long-term plan to provide middle-class families with at least $1,000 per year in permanent tax relief an effort to ensure that voting Republican in the future would cost you a thousand bucks in government bribe money.

Oil prices and Obama’s dilemma
One of the few bright spots in the current financial debacle has been
the rapid decline of oil prices. Earlier this year, oil hit an
all-time high of $147 per barrel. As of this morning, however, oil dropped……

I hope McCain is aware of this fact and smacks Obama with it tonight.

At least in the US we still don’t have traffic flag waving dummys protecting the guys watching the guy do the work…

DarkCurrent on October 15, 2008 at 12:16 PM

Are you kidding me? You should see the IKE cleanup crews at work here. They have one guy driving the truck, one guy driving the little crane to pick up the debris, one guy carrying a rake around but not using it, one guy carrying a flag to direct traffic, one guy sitting in a car following behind to watch(probably supervisor) and then another car will stop by every so often to check on the crew. Then the truck gets full and heads off to dump the debris, and what does the crew do? sit around and wait for the truck to get back. If it weren’t costing the taxpayer so much money it would be laughable.

DarkCurrent on October 15, 2008 at 12:16 PM

I thinkhope you are right about the attitude. But I think we many Americans, including myself at times, feel pretty confident about our economy as long as we embrace FREE MARKET principles and self responsiblity.

I forgot to add, here in China I usually only see 2 or 3 guys watching the guy who digs the holes, and they probably earn only a little more than the Japanese mannequins, while the guy digging earns less

LOL but a little sad…what are you doing in China? I am visiting for the first time in December. Any suggestions for an 8 day stay based in Beijing?

There is a real downside to low oil prices and that is that it makes alternative petroleum and alternative energy source development less attractive financially. Keeping the price around $100 a barrel is probably best for us in the mid-to-long term.

njcommuter on October 15, 2008 at 10:28 AM

That may be fine for enviro nuts, but the US economy cannot handle gas prices above $2.50 a gallon right now. If the prices had risen slowly we might have slowly adjusted our individual budgets to absorb it. Gas prices rose so fast and that drove up the prices of the staples people need(as opposed to wants) they couldn’t absorb the increases into their budgets. The majority of people don’t have a lot of room for error in their budgets(they spend everything they earn). Much of the mortgage mess was caused by people having to spend more on the basics, and having no reserve, couldn’t afford their mortgage payments. Combine this with the adjustable rate mortgages going up, and the actual fraudulent mortgages and you have the current mess. But for most of the adjustable rate mortgages, even if you froze the rates, the people couldn’t afford the mortgages because they need to buy gas and food.
The quickest way out of the current recession/depression is lower energy costs. Unless we can find cheaper alternatives, not just alternatives, we need to have oil prices around $50.00 a barrel for a short period, then if prices go back up, they need to go up slowly so we can slowly adjust to it ourselves.
The oil cartel brought this on themselves when they allowed oil to go above $100.00 a barrel and had $’s in their eyes. Now the US needs to drill our way out of the problem no matter what the oil prices are because we now see what our enemies can do to us with the oil squeeze. Second step is find alternatives(and use the alternatives we have now – nuclear,coal, even expensive wind) but until we get a better alternative for our cars, the reduction of use in electrical production will help.

MB4 on October 15, 2008 at 11:00 AM

MB4, with a dem congress and house do you really need to think how obama could effect oil prices?

besides additional barriers he could implement towards oil exploration have you ever heard of KYOTO?

Complete repeal of every single tax cut under Bush won’t cover even close to half of this- and Obama is (supposedly) only reverting the top 2 brackets.

So he’s going to have to go back on pretty much all of his campaign promises or take the honor from Bush as being the most fiscally irresponsible president in history.

I think the way things are going it will actually be both.

tottoritodd on October 15, 2008 at 10:48 AM

I lived there during the height of the bubble and early stages of collapse. One big difference is the psychology. The vast majority of Japanese at the time thought Japan had pretty much achieved economic hegemony over the world and it would last forever. They just couldn’t comprehend any sort of reversal and were in denial for years, which greatly slowed down reaction. On the other hand, Americans always seem to feel the US economy is on the verge of collapse and seem to react more quickly to events. Unfortunately, like Japan, too much of that reaction is also to expect government to be the solution.

At least in the US we still don’t have traffic flag waving dummys protecting the guys watching the guy do the work…

So what are you saying? That on November 5, 2008 the price of a barrel of oil will go to $200? $300? I guess we all better put all our 401k’s in oil stocks. You first.

MB4 on October 15, 2008 at 11:08 AM

By Presidential Order… as for 401Ks… well that will be the covered by the Presidential Order that comes right before the oil price order. Anyone with a 401K is obviously part of “the rich”, so it will have to be confiscated for your own good and to share the wealth.

Actually, I doubt very seriously that Ms. Pelosi, Senator Reid and a President Obama will push hard on ANY drilling or alternative energy as long as Soros has $800 million plus invested in Petrobras. He won’t give them permission.

CC – BHO: “my Muslim faith”

I remember Clinton going on TV and saying, “I’ve worked harder than I ever have trying to keep my campaign promises…but I failed…oh well, sorry.”

blink on October 15, 2008 at 10:43 AM

This was due the deficit being bigger than he he had expected. Funny thing is, during the campaign he had been telling people that the deficit was over $100Billion higher than the final number turned out to be.

Clinton lied about the tax cut.
Clinton lied about the reason why he had to do a tax increase rather than a tax cut.

The media never called him, rather they praised him for being a great statesman.

Why does anyone believe the media will do any less for Obama?

Remember Clinton? “I’ve worked harder than I ever have these past 3 weeks and I just can’t find a way to give you the tax cut I promised”

obladioblada on October 15, 2008 at 11:43 AM

Did he really say that? Can you link the quote?

You do realize this is taken from Sarah Palin’s energy rebate for Alaskans and her taxes on the oil companies.

At least the 1000 energy rebate you are speaking of.

How nice that Obama stole Sarah’s idea. What an Asshole!

and mining like Moria-Dwarves for coal,
Bishop on October 15, 2008 at 10:39 AM

would this make Obama the Balrog?

Because if the country elects an unqualified, unaccomplished, corrupt and incompetent criminal like Barry O’Bama to the White House, we’re playing Russian Roulette with the future of our country.

NoDonkey on October 15, 2008 at 10:22 AM

Russian Roulette with an automatic…