America's Petro-Terrorists

Wall Street and Washington conspire to destablize the U.S. economy, one barrel of oil at a time.

Then again, the same people have been doing the same thing for 25 years. Yet regulation just keeps getting weaker. "You will know that somebody's serious when they put 500 FBI agents and a dozen of our best prosecutors on Wall Street," says Kelleher.

In the meantime, it could all get a lot worse if Mitt Romney is elected. Even after the JP Morgan fiasco, he reiterated his plan to repeal Dodd-Frank, which also contains measures guarding against future bank bailouts.

Writes Politico: "Romney's reaction is the equivalent of putting out a small fire in your house, then deciding that the lesson is you need to stuff your house with matches, throw out your fire extinguisher and cancel your fire insurance. And doing all this after the house nearly burned to the ground less than four years ago."

These days, the oil market has again begun to dive — through no help from our leaders. A stalled Chinese economy plus fears of serial bank crashes in Europe has caused speculators to scatter. Prevailing theory: The world may soon be too broke to buy gas.

But at some point, the economy will show signs of recovery. And Washington has ensured that the speculators will return, there to suffocate it in its infancy.

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Wayne Langley
Wayne Langley

FINALLY!!! Someone tells the truth about who has been RAPING the American economy! So what do we do about it? Since it seems there is no one that can be trusted, what is our option?

Guest
Guest

A small nitpick, quoting the article: "Finally, the simple fact that we're still broke four years later has caused U.S. consumption to steadily decline. Today, America exports more oil than it imports for the first time since the 1940s." The U.S. is now a net exporter of petroleum products (i.e. refined gasoline) but is still very much an importer of crude oil. Source, US Energy Information Administration: http://205.254.135.7/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_w.htm

 
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