This Depressing Recession…

Posted: 02/07/2008 in Uncategorized
Tags: , , , , ,
You say recession, I say depression…
It looks like the major media outlets are finally starting to come around to reporting about the true reasons for the increasing cost of what we put in our cars, that dirty, filthy disgusting word nobody likes to use. Recession. The NY Times has an article headlining today reporting that “The Deepening Cycle of Job Loss Lasting Into 2009” They go into more sectors with huge, and growing losses as well, and even quote Lehman Brother’s Ethan Harris as saying “It’s a slow-motion recession,” “In a normal recession, things kind of collapse and get so weak that you have nowhere to go but up. But we’re not getting the classic two or three negative quarters. Instead, we’re expecting two years of sub-par growth. Growth that’s not enough to generate jobs. It’s kind of a chronic rather than an acute pain.”
The Houston Chronicle also shares bad tidings with a story regarding Starbucks plan to close 600 stores and lay off 1200 people over the next year, with a new store roster being cut by 50% to 200 stores. But getting back to the core issue, the Washington Post has an article describing the pain of getting burned by trading in that Mega-SUV you may have been dumping barrels of gas into every week in for a more fuel efficient model. Seems nobody wants them anymore, and of course, the value of the larger vehicles is plummeting, as demand for them dries up. There’s that old supply and demand issue again.
Those of us that get an hourly paycheck have known for a long time that the United States has been spiraling towards depression, even if we haven’t wanted to admit it. Rising costs have gone along with layoffs and closures of businesses, even as new businesses open, slightly offsetting the bad news that the newspapers have been ignoring. We’re headed for a depression. Plain and simple. And then you have these dream riding public officials like Senator McCaskill of Missouri, who still seems to labor under the misguided claim that the high price of oil is due to the Iraq war. The Hill has a blog entry with a video that explains it all. Of course, the thing here is that she’s not only a Democrat, she’s National co–chair of Obama’s election campaign.
These Left Wingers really need to get off of that wagon. We’re not leaving Iraq, no matter who gets elected. Bush and Cheney are not going to get impeached. The price of the gas you pump into your car is not because of the war in Iraq. It’s funny that the Democrats are so eager to jab at the oil industry, demonizing them for their profits, when so many of them own so much of those very same industry stocks. The problem is the value of the dollar, and while the dollar has been sliding incrementally for years, much of the decline has come since Nancy Pelosi took control of the Senate, and that value started to plummet drastically since the primaries guaranteed our choices would be McCain and Obama. Them furriners ain’t got much faith in us Americans anymore, I guess. Actually, that’s a pretty simplistic insult, as the real issue is pretty complicated. Maybe that’s why the Democrats just don’t get it? An article today in the New Zealand Herald has a pretty good article, The crude facts about oil prices, that does a good job of explaining the real costs of gasoline.
Meanwhile, the AP published an article over the $141US per bbl price and indicating that the issue of Israel’s threat to bomb Iran over the nuclear missile state issue that has been broiling for a while has come to a tipping point, with Israel threatening to attack Iran by the end of the year. has a piece, Leaders seek stability as oil, gas go higher, that further highlights the global situation of the oil price dilemma, further emphasizing the fact that oil has risen in price by more than 50% this year alone, far exceeding any previous years increases. This rise is in tandem with the suddenly increasing plummet of the dollar’s value that began in late February to early March.
Finally, an IBD article calls attention to the real price we need to be looking at here in Maine, and that is the price of heating fuel, which averages $4.60 per gallon today. It’s expected to top $5.00 per gallon by the end of December, and possibly go as high as $5.60 or more by the end of the season. We need to start rethinking all of those emotional strings the Liberal Left like to pull, making us feel guilty by not supporting their causes. America is becoming weak due to their influence and the changes in this country they have orchestrated. When you think about politics, and the people who represent you in Augusta and Washington, who do you want to see representing you? A weak willed Leftist, willing to sell our soul for the sake of convenience, or a strong willed leader who can put America back where she belongs?
Obama might be sharp enough to cut the mustard, but his knife isn’t anywhere’s near sharp enough to cut the cake at this party.

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