The Banana Peel of Destiny (James Howard Kunstler)

[Tace]

James Howard Kunstler -- World News Trust

Apr. 25, 2011 -- That was a cute move by President Obama last week, calling out the "oil speculators" with a memo to his Attorney General, Eric Holder.

The President proved a few weeks ago, in his energy speech to the nation, that he doesn't understand how these resources are produced and traded. Consequently, the people he addressed remain clueless, but ticked off nonetheless. And the logic of politics now compels Mr. Obama to call out the dogs on... people who make money trading paper claims on oil?

Funny, he didn't show any interest the past two-plus years in people who make money swindling taxpayers via booby-trapped Collateralized Debt Obligations and Credit Default Swaps. Maybe those things sound too abstruse to get excited about -- but believe me, it was a heckuva lot more money. In fact, a case could be mounted by God's attorney general -- if he has one -- that Mr. Obama abetted a gigantic conspiracy in fraudulent financial paper which makes the oil speculators look like shoplifters in a Kentucky WalMart.

For those of you interested in the reality side of things, here's the scoop: The price of oil is going to go way up, and way down, and way up again, and way down again until everyone is too broke to ask for any, and companies are too ruined to go get it for them, and governments are too broken to interfere in the process.

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http://worldnewstrust.com/all-content/the-banana-peel-of-destiny-james-howard-kunstler.html

[midnight]

1. Interesting take on our countries attorney general....and lack of interest in

the crime occurring towards the country on his watch.... Our attorney general is very distracted last I read by medicare fraud....

[yurbud]

3. yeah, some old people get TWO hip replacements...

[dixiegrrrrl]

2. That last paragraph above can apply to all resources, eventually.

[Demeter]

4. For a Constitutional Scholar

(which claim, I am beginning to think, is a tissue of lies) Mr. Obama shows a callous disregard for both justice AND the rule of law. Not to mention common sense.

Don't get me started on his economic shortcomings....

I thought we elected a President, but all we got was another damn actor. Photogenic, articulate, bought and paid for by the studio contract. Reagan, at least, knew which side of his bread was buttered....

[txlibdem]

5. Obama, Holder, the thieving speculators. Just a bunch of millionaires patting each other on the back

Obama net worth: over 10 million dollars
Holder net worth: over 5 million dollars
Oil Speculators: your guess is as good as mine but definitely in the millions.

Why would these good buddies go against each other for our benefit??? I predict much hot air and harrumphing and press conferences... and no arrests, no change in trading practices, no paying back of ill gotten gains. Status quo.