As you all have noticed the price to fill up the family truck or car has jumped over fifty cents a gallon in the last several weeks. We read on MSNBC and CSN that the turmoil in the middle east along with increased demand in China is what is driving up the cost to fill up our 02 Dodge or Grandpa Fish's Tundra. Well lets take a closer look at this subject and I will show you another culprit that is causing our family and the rest of our great country another financial hardship to go along with the recession.
The speculative oil trading game and what a shell game it is. If you have ever seen a shell game played, the objects are moved around from one spot to the next spot and then the next shell is moved. You think you know which one the ball is under, then after a few more deft moves by the manipulator you are clueless to where the ball is. Just like in the game the oil speculators are playing with us everyday. They want you to believe the actual reason for the high price of oil is revolts in Libya and Egypt or the increased demand by a burgeoning country as China. Well these things do play a part, but lest see how the shell game is being played on us by the speculators.
Just like the shell game in which shells are moved around faster and faster the speculators sell and resell and then sell the same oil again to make a bigger profit at our expense. Grandpa's Tundra sits more and our family truck stays home more often because we can't afford the rise in gas prices. The economy takes a hit each time the price goes up, the family doesn't go out to meat for dinner because of this. We haven't met mom and dad in months because we can't afford the gas to meet them halfway to eat. Then the restaurant feels the pinch as more and more avoid eating out and thus it trickles down to each small company and family. Meanwhile the speculators line their pockets with profits that come at our expense (our meaning every little family in America) is paying out the mouth so the wall street thieves can roll around in mountains of cash.
What can be done to control the speculators? Here is a solution to the problem. Have a same day trade tax in place. The speculators may pay the tax the first time, but other than that no way the speculators would take a hit in the same place that the rest of us feel it, in the bottom line. The difference is our bottom line is the choice of feeding our families and helping our children play little league soccer or baseball. The bottom line with the speculators is millions and millions of dollars profit made by speculative trade in crude commodities that is coming out of our pockets. It amazes me to read that the "price of oil goes up the price of oil goes down" or another one that makes me laugh "the market adjusts itself" what a load of B.S. Wall street was just bailed out with taxpayers money to the tune of billions due to, they are to big to fail. This term is used by the pundits to sell the bailout, yet what about the term "the market adjusts itself"?
What are we doing as a result of the high speculative fixed oil? We are staying home more and each and every day watch the price of crude go up. We can go for walks with the family and have cookouts in our backyards. Meanwhile, as the grandkids wonder why they can't go see granny and papa, the speculators thrive as the general population scrimps on family activities. We buy the cheapest brand of food possible while the speculators throw lavish parties, catered by the finest in upstate snobbery. We eat ramen noodles they eat.......well they eat what ever the hell they want to. Explain to an 8 year old why they don't see you at their soccer games.
We here supply and demand from the oil traders, yet all across the United States oil is a surplus. Tankers off shore are loaded with it, they are basically floating oil warehouses. The shell game continues at our expense and our expense is heading higher. What do we cut out of our budget next year? Clothes, maybe have the family skip a meal or two a couple times a week, that's no big deal right. Yes I am mad and frustrated and I look towards the tipping point, what is the magical number for oil that sends our very fragile economy right down the toilet. What do you think it is Stephen, Chad, any ideas Cheyenne, what do you think?
All the while grandpa's Tundra still sits in his driveway while the kids play soccer and wonder where granny and papa are. A speculator would tell me not to worry about it because soon you won't have kids playing any stupid sports or activities because you won't be able to afford it all so quit whining. Wall street keeps getting richer off the expense of the not so rich and downright poor. Something is wrong with that. As I have stated earlier, tax the speculators or even better remove them from the market. Oil would drop dramatically. End the madness before we hit the tipping point and we have really huge problems.
Troy
