Democrats

American Problems With Foreclosures And Oil prices

September 18, 2007 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

We have a foreclosure rate that is rising faster than anything ever seen in modern times and how do we solve the problem? We cut the fed rate. Come on, this is smoke and mirrors. If we do not create more domestic jobs and create more industry in the domestic United States then we will only see more and more foreclosures and bankruptcies. Give me a break; do the idiots in Washington really think a fed rate cut will protect Americans over the long haul? All this really does is frees up a little penny cash to buy a few extra items at Wal-Mart, it does not address the problem at the root of the foreclosure issue, the unemployment or under-employment of most domestic Americans. Come on, we need real policy change in America, one that will punish imports so that it is more productive and cost efficient to build things here in America. Additionally, we need to tax companies who outsource or off-shore work and then bring it back into the United States. Free Trade and Capitalism were a great idea at one time but the global economy has changed things and unless America protects itself just like China, Japan, and India it will suffer and get punished in the new economic environment of global trade. I also want to know why oil commodity trading has become the new playground for rich people. In speaking with oil producers I have found that it does not cost them one penny more to create a barrel of oil today as it did when oil was produced at 20$ a barrel a few years ago. I have been advised that demand is up but not enough to justify any price over 40$ a barrel. What gives? Has oil become the new junk bond or boiler room tactic? Why hasn’t any legal body anywhere in the world addressed this issue of oil price manipulation? Why have the rich who dabble in oil futures been allowed to utilize the oil futures like a pyramid scam?
Does anyone have any real answers?

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