Oil Bubble Burst?
On Sat, 19 Jul 2008 20:00:57 -0400, hk wrote:
Remember poor, maligned Jimmy Carter? About 30 years ago, he urged us to
cap the amount of oil we were importing, and to force automakers to take
the steps necessary to manufacturer 48 mpg cars, and to develop
alternative sources of energy.
Carter, Ford and Nixon were the last American presidents who thought
"America." Every one since has thought "business" even when that
weakened our underpinnings.
America will continue to go downhill until it gets back to work,
actually producing the goods it consumes.
That's going to be a big change for its citizens, because they've
become accustomed to cheap foreign goods and voodoo economics
ignoring balance of trade and national debt.
It's been a good hedonistic ride, but the legs are going to fall off
the horse.
'Course I was saying that 25 years ago. Surprising to still be in the
saddle. Yipeeee!
The only guys of prominence agreeing with me are Pat Buchanan and
Lou Dobbs.
I'm a lonely feller.
--Vic
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