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Low gas prices bad for the economy???

Discussion in 'Anything goes' started by hondo, Sep 19, 2006.

  1. hondo

    hondo Well-Known Member


    Proof that George W. Bush can't win in the eyes of some people. No matter what, it's always going to be his fault.
    Was there one single article two months ago in which someone wrote high gas prices were good because it would keep inflation in check?
  2. The Big Ragu

    The Big Ragu Moderator Staff Member

    Ha ha. This is funny. Bush can't win? First of all, what does Bush have to do with gas prices? And where does that story--which is pointing out an economic truth--lay any blame on "Bush"? He's not even mentioned in the article.

    If you want to talk about things that Bush has affected, though, I'll oblige. And since the topic of the day is inflation, why don't we start with MASSIVE deficit spending? This administration turned a $200 billion surplus into a record $400 billion deficit in only four years. There's a talent! This year, we are "only" looking at a $300 billion deficit. Not sure if we should be patting ourselves on the back or slitting our wrists. We've created a mess that is going to sink our economy. It's just a matter of when.

    The whole reason we are staring at inflationary pressure is that deficit spending. The economy can easily survive fluctuations in energy prices--all things being equal. When bad government fiscal policy has us on the edge of an inflation problem, energy prices get magnified in importance.
  3. hondo

    hondo Well-Known Member

    Actually, you just proved my point. There was much blame pointed at the Bush administration for high gas prices. I'm not going to waste time looking up every article and post the link. It would be too easy.
  4. The Big Ragu

    The Big Ragu Moderator Staff Member

    Well, go back and look at those threads. I have been pretty active on all of those threads pointing out the economic realities of gas prices. A limited supply commodity with heavy demand which is increasing due to increases in worldwide demand. I pretty much shouted my head off at anyone who blamed Bush. Anything in short supply that is under heavy demand is going to be expensive.

    But I didn't see anyone in the article you posted blaming Bush for anything, so I am not buying the premise of your thread. I did see a story about how the dramatic reduction in gas prices might trigger inflation. And since massive deficit spending has a cloud of inflation hanging over our heads--and you were the one who brought up Bush--I thought my response was fair.

    How do you feel about the fact that we are setting records for deficit spending and the economic problems that loom because of it? Or the fact that China owns a good chunk of America, thanks to Bush's fiscal management?
  5. Mystery_Meat

    Mystery_Meat Guest

    From today's American Pie Chart ... er, USA Today

  6. old_tony

    old_tony Well-Known Member

    The thing you have to ask yourself is this: Would that story have ever been written when Bill Clinton was president? And you know the answer is no. Remember in 1999 when oil prices caved and gas fell below a dollar? No such stories appeared. Then OPEC cut production and prices went back up. When that happened, all the coverage was on how OPEC did this, OPEC did that. Anyone remember the oil companies being blamed?

    Over the past year when oil prices rocketed, does anyone remember reading a single story about OPEC? No. It was all evil Bush and the evil oil companies. I can honestly say that I have not heard the word "OPEC" uttered once in the national media over the past 18 months.
  7. The Big Ragu

    The Big Ragu Moderator Staff Member

    Ah. Now that you have gotten your finger pointing out of the way (and, honestly, I'm certainly not the "liberal" enemy), wanna have an intelligent conversation? Why is our economy under a cloud of inflationary pressure?
  8. dog428

    dog428 Active Member

    First of all, no one "blamed" poor ol' Shrubby for the high prices. He was criticized for sitting on his ass and doing absolutely nothing about them.

    And let's discuss that. Out of all the proposed actions for lowering gas prices, don't you find it somewhat ironic that the three ideas our esteemed president came up with just happened to help the oil companies? A coincidence, I'm sure.

    Spare me the poor, pitiful routine when it comes to this jackass. Anything less than a nasty chipper incident shouldn't provoke a single tear for this despicable man.
  9. So Bush wasn't doing enough to lower gas prices when they were skyrocketing ... now he's being accused of manipulating the prices downward.

    Shows how deranged some people are when it comes to their hatred of GWB.
  10. And some people around here think "media bias" is a figment of the imagination.
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    Jeez. You all are so eager to find boogymen! You are acting no differently than any idiot who blamed Bush for high gas prices. You are being irrational. That story would absolutely have been written if Clinton was president. The people quoted in the story are bank and brokerage economists. They don't give a shit about political parties. They try to advise people about how to invest their money. The conclussions they are coming to about the possible inflationary effects of a sudden decrease in gas prices are an example of how REASONABLE people, who use their heads instead of their jerking knee, approach macro financial issues. Get over it, folks.
  12. dog428

    dog428 Active Member

    Wonder why that is? Could it be because OPEC has absolutely NOTHING to do with the current problem?

    Read this carefully: THERE. IS. NO. SHORTAGE. OF. CRUDE. OIL.

    It's refinement. Damn. How many threads is it gonna take for you to get that? There's plenty of damn oil. There's not plenty of refined product.
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