Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 8 Post(s)
RE: DOW < 10k
The last time I saw him they were interviewing him CNBC, and I kid you not, everyone around the interview table laughed him out of the place.
Oil is the achilles heel. If you work the numbers, the rising price of oil becomes the brake on the ability of the economy to grow to its full potential - not only for the one obvious reason - because of the huge outflow of capital - but a second reason as well - we are trapped in a vicious circle where we buy the money back from the Saudis as debt - the Saudis have to do something with all that money, and one of the things they do is buy our government debt. So we pay for the gas twice - once at the pump, and then thru taxes to pay the interest on the debt, and again that money leaves the country. (Now you know why even tho 19 of the 9-11 hijackers were Saudi, they essentially got a free pass on the deal. We have given a few nasty little oil fascists the power to wreck our economy.) This is simply not the basis for a strong economy. It is simply an economy that will work for awhile, until something gives. If one were to describe out current economic model it would be "The Heroin Addict Economic Model", and as we go on, we will continue to act out the downward spiral of the junkie until we hit bottom.
The secret to ending this cycle is energy independence and control of government spending. If the money we waste on fuel was available for other purposes, we would all have a better life, and an economic model that was not based on procuring heroin would allow us one where the money was directed to continual technical development. This is going to require leadership that we currently have not had and may never have, because both sides have to give. The Democrats have to end their opposition to nuclear power and the Republicans have got to accept higher taxes to pay for this government's spending and to finance massive programs to build alternative power sources. Both parties have to stop spending so dman much public money on stupid crap. A massive program to become energy independent will result in large investments in new technolgy, from which will come side benefits, it will also gives us a sense of national purpose not based on "supporting our troops" in massacring people for oil, and it will result in an economy that produces wealth instead of debt. If continue down the road we are currently pursuing, the only economic sector that will increase is military spending.