Tip of the Iceberg

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Trust me, ladies and gentlemen: it is just beginning.

Crude oil price up, gold down
January 22, 2009 – 7:44AM
Crude oil rose the most in three weeks, following equities higher, on speculation a bank-rescue plan from President Barack Obama will boost financial companies.

March futures also advanced as traders narrowed the differential to later contracts amid rising inventories.

Crude oil for March delivery rose $2.62, or 6.4 per cent, to $43.46 a barrel at the close of floor trading on the New York Mercantile Exchange. Oil has fallen 2.4 per cent since the end of December and is 52 per cent lower than a year ago.

Oil prices rose $10 in one day, Wednesday, the first day of the Obama Administration — predicated upon President Obama’s proposal to close offshore drilling once again, do you suppose?

This is just the veritable “tip of the iceberg.”

It is already beginning.

Just slightly over half of the American population refused to listen and now you, those responsible for electing Mr. Obama, are about to, literally, begin paying the price.

BZ
P.S.
Caroline Kennedy just withdrew her consideration for Hillary Clinton’s former US Senate seat. She states the decision is due to Ted Kennedy’s medical condition; I suspect it’s instead her vapidity.
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19 thoughts on “Tip of the Iceberg”

  1. I don’t know about Oil but I do know about investments.

    Yesterday I lost $9.00 give or take a few zeros. Today I made $13.00 give or take a few zeros.

    This economy was in the tank long before Obama and it will be in the tank for some time to come.

    Will Obama make it worse? Maybe.

    There is one thing I know for sure, it wasn’t Obama that got us where we are today.

    Today J. Crew sold more orders online than ever before. Their retail online shop couldn’t handle all the orders and had to shut down. Their stocks went up over 10%, not bad for one day. All due to the Obama’s.

    http://thecaucus.blogs.nytimes.com/2009/01/21/j-crew-gets-a-seat-at-the-inauguration/

    Who knows, maybe a turn around has all ready started. If retail sales go up the economy may start showing some signs of recovery.

    Just saying, it’s not all bad news.

  3. Ranando..that isn’t because the Obama’s economic plans are so promising! MIchelle Obama wore J. Crew GLOVES at the inauguration!!

    The iceberg is SCARY. I wish I were 65, on Medicaire, owned my home and had a vegetable garden. I was thinking it’s those people who’re the only ones who won’t be suffering. I’m getting scared.

    Caroline Kennedy is so suddenly worried about her uncle’s health? GIVE ME A BREAK! He’s been sick for MONTHS. grrr

  5. Caroline knows there is no way in Hell she would ever win in 2010 and doesn’t want to look like the asshat she is, that’s why she jumped ship.

    ….There is one thing I know for sure, it wasn’t Obama that got us where we are today….

    He was part of it. He and his law firm sued banks(citi and countrywide–I don’t remember which) because they weren’t giving out enough high-risk loans. Just the “tip of the iceberg” as to what started this whole sub-prime fiasco. Every time the Republicans tried to put the brakes on CRA, NObama voted against them. He, Dodd, and Franks got big money from Fannie Mae for their campaigns as a thank you for their help. So, YES, NObama certainly does get a good portion of blame for our economic mess.

  9. Ranando: I’ll be the first to agree that the Bush Administration spent money like water — more like mercury. But I submit it’s not the individual smaller stores that will grossly affect the economy, it’s the massive mandatory consumables precisely LIKE gasoline, LNG, fuel oil, wheat, corn, etc. These are not discretionary-purchase items. These are items all Americans pretty much MUST purchase and, in my opinion, an indicator of where an administration is going. If you can’t assist or attempt to influence the mandatory consumables. . .

    Update: Kennedy has now released an official statement indicating she is out, BTW.

    But in COMPLETE concurrence: HANG THE HELL ON.

    BZ

  10. Z is right. I’m in my 60’s, own my own home, grow my own gardens, and have no debt. It’s not myself or Walt that concerns me, it’s the welfare of this country. This is going to be a bumpy ride!

    I’m glad Kennedy gave it up. I don’t care why she did, I’m just glad she did.

  11. Will Obama make it worse? Probably.

    Bush’s biggest failure was that he didn’t hold the line on spending or securing the borders, though he did do a lot of things right.

    I see Obama as repeating or magnifying Bush’s mistakes and not repeating what he got right.

  15. I love to see the Obama Bonce in the stock market BUT; after the honeymoon and all that swooning and admiration of our “Black guy in office” the Markets will see the business aprt of Obama…The tax everyone making money and give to those that don’t work Obama… This is the type of Business sense that Business folks really have. They are going to capitalize on the novelty of Obama, but soon enough that wears off and you are left with character, morals and courage. I have never seen ANY of that from a CHICAGO politician.

  16. Yes we are so much better with Obama deciding on which way the economy should go… say, who put that in the Constitution, anyways? Oh, the ‘Progressives’ wanted it… just hand over the keys to everything to government. And government gets everything so ‘right’ like there *always* being more than enough youngsters to pay off social security! And Medicair! Socialized Medicine!

    Plus it was ever so wise on just everything to do with wages and prices like Nixon did when he froze them. Gotta love that commitment to the government marketplace of ideas… always comes down to government wanting *more*.

    Really, since the child labor laws just what has government done that it doesn’t then cross-up completely? And just why *does* Congress write themselves out of health and safety laws for the workplace? Why its almost like they think they are know-it-all aristocrats or something.

    It seems that so many conservatives miss the point about government ‘supporting’ something, is that when you LOSE the other side then gets to twist that ‘support’ into something horrific. The idea of good government is small and limited government.

  17. 01 23 09

    BZ:
    I feel you here. But I don’t think McCain’s monetary policy would have been any better. If more fiscal cons voted libertarian and put a libertarian in the white house, spending problems would be solved.

    Since that isn’t happening now, my biggest fear is that Obama will make an effort to ‘stabilize the economy’ by devaluing gold.

    FDR did that and made it a crime to own gold unless it was in jewelery. Do you know we are STILL paying the price for his poorly crafted policies sixty years after the fact? Obama better wake up and smell the coffee cuz otherwise, he will have a revolt on his hand.

    Already we feel raped when we look at our paychecks. And now this asshole has decided to use our TAX DOLLARS to fund abortions in the third world? What a sick fuck of a man.

    Please pardon my language. I am mad today. The melanin mafia’s hold is growing looser and looser each day. Hmph!

  18. Mahndisa, all I can say is that you’d best figure out how you or your husband can work a second or third job, because all the non-producers are going to suck even more cash out of your pockets via taxes. With all these bailouts AND with more “programs” at the behest of Barama, this MUST happen.

    BZ

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