Mammon Posted June 24, 2008 Report Share Posted June 24, 2008 http://money.cnn.com/2008/06/24/news/econo...sion=2008062409 There is a thread debating the merits of speculation itself, but I made this one, with this article, to illustrate the "solutions" Congress is coming up with. Funny thing is, while I was reading this I had C-SPAN on in the backround and someone said "This is the most restrictive and unpopular congress in history" Geez, I wonder why? Quote Link to comment Share on other sites More sharing options...
Thomas M. Miovas Jr. Posted June 24, 2008 Report Share Posted June 24, 2008 http://money.cnn.com/2008/06/24/news/econo...sion=2008062409 The proposals for new laws regarding oil trades and speculations are all evil because what we need -- that is both moral and practical -- is a greater freedom to find new oil sources and to refine such oil into gasoline and other commodities freely. Effectively, the new laws would have the effect of choking off the supply of oil by force, thus driving up prices. After Congress enacted many laws regulating where oil can be drilled and refined they made it impossible for supply to meet demand, resulting in higher prices. The crises we are in was caused by Congress and what they propose is more of the same -- i.e. laws to regulate oil production and trade. You know that Congress is philosophically corrupt when in all of their proposed new laws there isn't one opening up vast areas of wilderness for oil drilling and refining. And once again, they are making the businessman the scapegoat. One only has to compare oil production and regulations to the computer industry which is not regulated to see the difference. It is utterly amazing what $500 can buy you in terms of computing power and features theses days compared to only a few years ago, because the computer industry is free to produce and to distribute. Not so with the oil industry, and so we get higher and higher prices. And that is not even counting the effects of devaluing the dollar by inflationary policies that flood the market with newly printed dollars that make every other dollar out there less valuable. So, my assessment is that our lawmakers, especially Congress, are corrupt to the core. What we need, and is ours by right, is freedom from coercion. In effect, all of these regulatory laws are forcing us to pay higher prices. Quote Link to comment Share on other sites More sharing options...
adrock3215 Posted June 24, 2008 Report Share Posted June 24, 2008 I hope that every single one of these laws, regulations, and prohibitions is signed and turned into law. After this occurs all meaningful oil trades will occur overseas in some sort of new euro-denominated crude oil market, causing the US dollar to collapse. And that'll be the end of fiat currency (hopefully). Quote Link to comment Share on other sites More sharing options...
Benpercent Posted June 24, 2008 Report Share Posted June 24, 2008 I hope that every single one of these laws, regulations, and prohibitions is signed and turned into law. After this occurs all meaningful oil trades will occur overseas in some sort of new euro-denominated crude oil market, causing the US dollar to collapse. And that'll be the end of fiat currency (hopefully). I must say I share these sentiments. My reason being that I would like the climatic "shrugging" of society to come sooner rather than later, and then for the end or the rebirth to begin. Nothing's worse than a slow slow trip to hell. Quote Link to comment Share on other sites More sharing options...
~Sophia~ Posted June 24, 2008 Report Share Posted June 24, 2008 (edited) I hope that every single one of these laws, regulations, and prohibitions is signed and turned into law. After this occurs all meaningful oil trades will occur overseas in some sort of new euro-denominated crude oil market, causing the US dollar to collapse. And that'll be the end of fiat currency (hopefully). I must say I share these sentiments. My reason being that I would like the climatic "shrugging" of society to come sooner rather than later, and then for the end or the rebirth to begin. Nothing's worse than a slow slow trip to hell. The right ideas must have some recognition (much wider than today) in order for a crisis to generate the right response of accelarating the penetration of said ideas. Otherwise capitalism maybe blamed again. Crises in the past brought more regulation not less. Edited June 24, 2008 by ~Sophia~ Quote Link to comment Share on other sites More sharing options...
softwareNerd Posted June 24, 2008 Report Share Posted June 24, 2008 Crises in the past brought more regulation not less.I agree. Wishing a quick descent to bad times is a dangerous bet. Historically, I don't think the odds are good for a turn-around. People like Hitler thrive in a situation where people have lost hope in the tried solutions and are willing to try "radical" change. The better bet is to try to stop or slow any descent toward bad things. Quote Link to comment Share on other sites More sharing options...
Steve D'Ippolito Posted June 24, 2008 Report Share Posted June 24, 2008 That is a damned fine point sNerd. One of Lenin's favorite sayings before 1917 was "The worse, the better." The worse things got the more people hated the current government (the Tsarist system) and wanted to change it... to anything else. Quote Link to comment Share on other sites More sharing options...
softwareNerd Posted June 24, 2008 Report Share Posted June 24, 2008 One of Lenin's favorite sayings before 1917 was "The worse, the better."We might express it in "DIM" terms (with apologies to Peikoff), thus: the more the disintegration, the more likely that voter will buy into the confidently-proposed mis-integration. Quote Link to comment Share on other sites More sharing options...
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