Question: Are the rising costs of oil and the falling value of the dollar Bush's fault?

[Fire Walk With Me]

I believe that they are directly the result of BushCo and friends tampering with the global markets and personal profiteering.

What say you? I don't seem to hear much talk about the economy, and in my opinion, it's ALL about the economy.

[adadem]

1. absolutely n/t

[BobRossi]

2. Does a bear shit in the woods?

Do Dems choke at impeachment?

[yardwork]

3. It's bigger than just Bush. The entire world is being taken over by corporatists.

Bushco is one symptom of a highly destructive force that is enveloping the globe. Corporations are seizing control. They are driven by one goal - power. The worst possible human beings have taken control of every medium, and they are using them to grab control of everything else. Materialism is their guiding philosophy. Dick Cheney embodies the mindset, but he is only one. Bush is his tool.

[enid602]

13. upper class solidarity

It's almost as if the elite of the world now tend to associate themselves with others of their class in different countries, rather than with their respective nationalities. I think the corporatists' attempts to debunk global warming/ecological issues is feigned; they know resources are dwindling, and want to make sure they get what's left.

[yardwork]

14. Definitely. But it's not entirely a class issue, I actually think it is a world view.

Some people just don't care about anything but money and power. Unfortunately, they're in charge now.

[Warpy]

4. It's the fault of loopy GOPonomics

because their reckless tax cuts to the rich and the corporate are threatening to bankrupt the government.

This country's fiscal house is not in order because of their stupidity and the rest of the world is simply voting "no confidence" in their ability to notice they've blundered and roll those ridiculous tax cuts back.

[Basileus Basileon]

5. The first, not really. The second, sort of.

The costs of oil are driven mostly by economic growth in India, China, and to an extent Africa outstripping the ability of OPEC to increase oil production. There's some degree of uncertainty involved in the price; had we not invaded Iraq and were the situation with Iran less tense, things would probably be a bit better. However, to believe that oil prices are simply a result of Bush or Exxon controlling the world's energy market is little more than sticking your head under the sand. The problem is not a small pack of white guys or Arabs or Jews or whatever. The problem is we're starting to use more than we can pump. And that's a problem that's far more dangerous.

The falling dollar? That's largely deliberate; it's just another form of economic protectionism. I'm surprised our anti-free-traders here aren't thrilled.

[napi21]

6. YES, it's a direct result of Shrub's monetary policy. n/t

[ORDagnabbit]

7. No...come on people learn some basics about how the world works

www.moneyasdebt.net

fiat money always...I repeat always fails at some point. we are at that point.

[The_Casual_Observer]

8. I thought he promised to jawbone OPEC & get them to open the spigots!

It was that easy.

[indepat]

9. Does the sun rise in the east?

[pansypoo53219]

10. tax cuts/breaks for those that do not neeed it helps.

denying the inflation we can see.

[Kurt_and_Hunter]

11. Bill Clinton demonstrated that deficits matter (He focused obsessively on the Bond market)

[DemocratSinceBirth]

12. China And India Are Bidding Up The Cost Of Oil

But some of the price of oil has a "political uncertainty" risk built in...That's Bush's fault...

[Doctor_J]

15. Bush himself thinks so

he blamed the "high cost of oil" in 2000 ($22/bbl) on Clinton, so he must believe this disaster is his fault.

[Fire Walk With Me]

16. Thanks for the insights...but not one mention of BushCo controlling Iraq's oil output?

Controlling such a huge reservoir provides a certain amount of manipulation of supply, thus altering demand.

[Andy Canuck]

17. Oil is rising because of speculators buying up

oil futures pushing up the price of oil. People are buying oil futures and other commodities like gold, because of the credit crisis brought on by the sub-prime lending disaster. The US dollar has lost a great deal of its value due to the fact that the US no longer has any real assets backing its currnecy. As well Bush has doubled the debt and doubled the money supply, while lowering interest rates scaring the shit out of the world's economy and driving people even further away from dollar. SO yes, Bush's administration has done nothing right for the economy and is directly responsible for the rise in oil prices and the falling dollar.

People sell their US dollars, buy euros or other viable currencies and with that purchase oil futures and commodities.