Quote from TraderZones:
Did you EVER study what happened during the Great Depression? Or what happened during most other serious global slowdowns? Commodities go off the deep end...
Opinions don't matter. Markets do. Do a little study, dude. Really...
If America ain't buying, then China ain't selling and oil and other commodities will lose their luster.
Notice what happened the last few days in the oil market?
I agree with both you and BiLoSellHi!
What is frustrating to normal market demand corrections are the political winds that affect (before the fact) and effect (after the diaster) the economic markets, and the consuming public.
What has been raught against the American people by the Bush-II administration has really caused so much of these problems:
1) effective removal of the existing consumer protection and corporate regulations that provided a structural framework for the success we have all enjoyed previous to their taking control,
2) doping up the American public upon cheap and no documentation mortgage loans to fuel this so called "consumer lead economy", based upon no restraint credit lines, based upon mortgages that were fradulent, and intentionally sold abroad,
3) not enforcing the tax breaks given to companies to foster job growth, but allowed to remove their domestic US jobs abroad and still cash those tax breaks (millions of jobs, and don't be fooled into thinking this didn't matter significantly)
4) direct and indirect support for extreme prices in oil, diesel and fuel prices under the guise and notion that world demand caused and supports these artificially high prices
5) defiently refusing to do anything positive for the American people to provide relief by and from the whitehouse. for example, constant and conflicting direct purchases into the SPR to fuel the rise in oil prices initially and then restricting importation of refined fuel, gas and diesel, thus allowing other countries to absorb world supplies, whereas they had not previously
6) constant refusal to accept their own economists projections that this was more than just a hosing complex (actually a ghetto) of cards
7) refusal to hear the govenors of the 51 states complaining about their deficits and declining tax revenue base due to these failed policies.
8) usage of L. Kudlow on CNBC to constantly barrage world opinion that the US was doing just fine, as a commentator on CNBC, knowing that the facts and reports did not justify the statements
9) more, and more and more...
Mission Accomplished!
4 more year
more trillion dollar deficits and rotting infrastructure
more bankruptcy filings all across the board
4 more years
