Discussion in 'The Guru's Pub' started by Pill Monster, Nov 7, 2012.
Yeah I stayed up to watch.
What happened to Mitt's 'over 300' electoral votes? lol
I wonder how long it will take Fox to start yelling and screaming about recounts and bullcrap. Before voting even started they were readying up to blame hurricane Sandy for it. Probably already saying these things, good thing I get my news from elsewhere.
proving that america is on it's way down. i'm quitting my job, smoking and starting to suck off the government tit. Higher unemployment than when he took office... just pathetic.:stewpid:
Please don't tell me you actually bit the "I'm gonna make 12 million jobs!" line. :wanker:
In all fairness, unemployment was rising when he took office, and it peaked sometime later, and has fallen down to where it is now.
I did not vote for him, fyi.
Although, anyone who thinks the president is in charge of the economy is a bit... misinformed.
Granted that the government as a whole does things to influence it... but it's mostly in our hands, and in the hands of investing institutions, with some influence from the federal reserve.
Good result, I'm dying here, 5am, how long till the victory speech, should I just go to bed and watch it online tomorrow.
i bought the record of obama. didn't close gitmo, didn't get unemployment under 6, didn't cut the deficit. didn't grow the middle class. didn't work with the other side. bow's to every world leader, gas doubled. amazing. all i want is my soma or a lobotomy to get down to your level so i can see rainbows and unicorns on every street.
Either way i'm out of this thread. Peace and Love!
Now all these lame bashing ads can go away.
Although, he got the U.S. making so much gas that we're now an exporter...
2011 was the first year we made more fuel than we used, since 1949.
Too bad you can't force our companies sell the fuel here.
And they'd rather export it to places where it sells for more.
*Related personal pet peeve is that if you owned land that has natural resources underneath, a neighboring business can drill for it at an angle, past your property line... because you don't own what's below the surface of the ground... or what's above it either, strangely enough.
Hopefully BP takes another dip due to this and I can scoop some up cheap in a day or two.
I expect Obama's energy policy to increase the price of energy, and the democrats will take blame for the next few years of problems whatever they are. So in about 2-4 years depending on republican house/senate election performance, BP's position should be substantially improved (barring further accidents anyway).
Sides P.E of 8 and high dividend is rather attractive irrespective of the election.
The USA has always imported oil and exported gas/petrol products. Oil is not gas until it has been refined.
That's a given.
What's new is that we now export more product than we import.
And this new domestic capacity it not doing a damn for our prices.
We exported 439,000 barrels/day of product (diesel, gasoline, etc).
We imported 269,000 barrels/day of product.
Here're the agency reports :
I just wonder if America's economic problems continue to get worse, will it still be Bush's fault? Will the blame game finally be over?
I don't like Obama, but for the sake of this country, I hope he is successful in his next term.
Well in a few year's we're looking at $5-6 for gas imo. Reason is a little indirect, banks have a lot of real estate assets on their books which they take out loans against. If those assets go down in value then they can't make loans against them which slams the brakes on the economy. So the solution at the macro level is to let the currency gradually inflate in a contro(lol)ed fashion, which will devalue the dollar a little more against foreign currencies. This is also politically desirable because the weak dollar drives up exports helping Bidens constituency (manufacturing), but it will drive up the cost of oil in dollars even if the cost of oil holds steady or goes down.
eta: downside is problems in Europe or if the Chinese bubble pops then demand drops pushing both the dollar higher and the gas of price down; double feedback in the wrong direction if you're investing in oil.
It never was Bush's fault.
It was the result of investors working in their self interest.
Sell loans, package them into products, resell them for cash up front, run. Let the buyer take the fall when they fail.
Before that it was oil speculation. Buy all the futures, let prices rise, sell of when they're high. Screw what it does at the pump.
And politically, what allowed the banking/loan portion to run amock unchecked was this : http://en.wikipedia.org/wiki/Gramm–Leach–Bliley_Act
Republican sponsored bill, supported by Democrats and Republicans, signed into law by a Democrat.
But in their defense, they didn't predict where it would lead.
But if you remember, the stock market down turn was directly following 9/11, and lasted for years, and it was the lead-in to the oil speculation, when investors left the stock market and shifted to commodities.
Obama wins yes! America is full of stupid people...God help us all.
Trance even obama shouldn't be called the N word, just saying.
Problem with that is that more than half of all dollars in the world are held overseas as reserve currencies.
If we devalue the dollar, it will trigger a sell off, which would cause a dollar collapse (or at least a strong reduction in value).
We need exports, but we also depend too much on imports.
Look at what the average person uses on a day to day basis... close to 100% is imported.
And we currently have the 2nd highest manufacturing GDP in the world... except it's in heavy industry and technology, and not in consumer goods.
We sell lithography machines for making computer chips, and we import shoes/shirts.
Not really looking forward to competing with other shirt makers.
We really depend on the strong dollar.
We even went to war to protect it.
Since 1972/73 all OPEC nations only accept dollars for fuel purchases.
Everyone in the world that wants to buy oil from an OPEC nation, needs to first buy dollars.
That causes more dollar demand, and inflates the dollar value.
Iraq opened a euro based oil exchange - and we squashed them.
Iran is in the process of making an oil exchange that accepts other currencies - and we're looking at them rather closely.
Venezuela also is in the process of making an oil exchange that accepts other currencies - and they're not very popular here either.
The petrodollar is a big deal. It keeps us "wealthy".
The reason we import so much isn't that our exports suck, it's simply that we can afford to import so much more than the rest of the world can afford to import from us.
A loss in dollar value, would crush our quality of life.
So we're going to be treated to pics of Michelle Obama with a face like a torn ar$e for another four years, are we?
Jesus ****ing christ.
I think someone is about to get hit by the banhammer....