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President Obama's call to rein in oil market speculation comes just as those very market forces appear to be accomplishing his real goal of lowering gasoline prices in the middle of an election campaign. The president announced Tuesday that he wants Congress to crack down on oil market speculators whom he argues have helped drive up the price of crude oil and gasoline. ,,,,, House Speaker John Boehner, R-Ohio, denounced the plan as unnecessary, saying the White House already has the tools available to crack down on any possible oil price manipulation. "Where is his Federal Trade Commission? Where is...
Published on Tuesday 22nd of May 2012 05:05:14 PM
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Posted by admin! / Under Speculation
With the price for a regular gallon of gas topping $3.80 on Monday, angry politicians are blaming the higher prices on speculators and greedy oil companies. On Friday, President Obama announced that he was “making sure that my Attorney General is paying attention to potential speculation in the oil markets.” 23 Senators and 45 congressmen, all Democrats except for one independent, are calling for urgent action against the “speculators” they hold responsible. These members of congress want the Commodity Futures Trading Commission to use its new regulatory powers under a law Obama signed two years ago to limit the amount...
Published on Tuesday 22nd of May 2012 05:05:14 PM
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Posted by admin! / Under Speculation
The next time you drive to the gas station, only to find prices are still sky high compared to just a few years ago, take notice of the rows of foreclosed houses you'll pass along the way. They may seem like two parts of a spell of economic bad luck, but high gas prices and home foreclosures are actually very much interrelated. Before most people were even aware there was an economic crisis, investment managers abandoned failing mortgage-backed securities and looked for other lucrative investments. What they settled on was oil futures. An oil future is simply a contract between...
Published on Tuesday 22nd of May 2012 05:05:14 PM
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Posted by admin! / Under Speculation
For weeks the headlines have screamed that U.S. gasoline prices have hit an all-time-record high for this time of year. Other media outlets continue to speculate on the impact of the EU's proposed ban on Iranian oil, which would keep refiners based on the Continent from using it. Some question whether this new record winter price for oil will derail what looks like a reasonably strong economic recovery. And speculation on how higher gasoline prices will affect new car sales seems popular. Welcome to 2012 and our longest-running national melodrama: Oil. Read more here: http://www.star-telegram.com/2012/02/27/3765797/oil-the-never-ending-story.html#storylink=cpy
Published on Tuesday 22nd of May 2012 05:05:14 PM
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December 5, 2011, 9:58 PM HKT Ominous Ordos: Dispatch from a Chinese Ghost Town Ordos – a town in the desert of Inner Mongolia – has become a symbol of the excesses of China’s real estate boom. Reports in the local press that property prices in the eeriest of China’s ghost towns had fallen 70% had China Real Time Report on the next plane out there. We found little evidence of a collapse in prices yet. But with sales volume sharply down that could be just around the corner. “You want to know why they were building all those houses...
Published on Tuesday 22nd of May 2012 05:05:14 PM
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By Andy Xie 10.14.2011 14:52 Underground Rumblings, then a Financial Quake Private, real economic activities are on shaky ground as high-rate loans, speculation and the state sector surge A real business does not go bankrupt simply because it can't borrow money. But a money-burning speculator does. This fact explains why it's wrong to blame the recent wave of private company bankruptcies in Wenzhou on China's monetary tightening and credit squeeze. The real story is that the companies speculated with borrowed money, and lost. Excessive monetary expansion from 2008-'10 rewarded speculation through asset inflation. The Chinese government's economic stimulus, launched in...
Published on Tuesday 22nd of May 2012 05:05:14 PM
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HAVANA (AP) — It's been more than a year since Fidel Castro burst back on the scene with a spate of public appearances and dire warnings of nuclear Armageddon. But after a flurry of activity that quieted speculation about his exit from the world stage, the Cuban revolutionary's revival tour seems to be over. Castro has not appeared in public since a key Communist Party meeting in April when he seemed unsteady and unusually frail. He has also virtually stopped writing his trademark opinion pieces and didn't make a statement or release a photograph on his 85th birthday in August....
Published on Tuesday 22nd of May 2012 05:05:14 PM
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An interview with Ann Coulter on Follow the Money.
Published on Tuesday 22nd of May 2012 05:05:14 PM
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Rick Perry and Sarah Palin aren't stupid, no matter what you might think of them. They are riding a comet, and they are in no hurry to get off. I'm talking about the possibility of running for president. Neither one will probably take the plunge. Given the realities of modern campaigning and fund-raising, they'd already be in this thing if they were serious about it. Both are content in their real jobs - Perry as governor of a huge state, Palin as a money-making-machine and voice of the hard Right. But why stop the fun? As long as they are...
Published on Tuesday 22nd of May 2012 05:05:14 PM
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We continually remember before our God and Father your work produced by faith, your labor prompted by LOVE, and your endurance inspired by hope in our Lord Jesus Christ. 1 Thes 1:3 Once again the free market makes fools of the Harvard grads, which is like saying water is wet; after President Obozo announces tapping into the strategic oil reserves the pump price drops dramatically. How can this be after we have been lectured endlessly by the Dems how increasing our supply would have no effect on the prices for years? All the simpletons who don’t have Ivy League degrees...
Published on Tuesday 22nd of May 2012 05:05:14 PM
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