mikestrek
Well-Known Member
Good coment. Agree.
Obamas economic news conference
- Thread starter over9five
- Start date
tieguy
Banned
Good coment. Agree.
you should educate yourself on finances before you agree. Buffett does not have the answer either. 77 percent drop in earnings is almost as bad as what congress did to our economy.
http://www.marketwatch.com/News/Story/Story.aspx?guid={547FBCD0-971C-457B-B5BC-C10E30274E3E}
paidslave
Well-Known Member
I am still waiting for this Trickle down economics to pull us out of this.
I wonder where Exxon spends it's record Profits? We will never see it because it doesn't work! The same way it didn't work for Iraqi people under Saddam Hussein's communism! It worked for a few but the rest were poor under his regime.
At least Iraq doesn't have the amount of cars we have!
We are in big trouble.
Last comment, I heard today that Alaska has the Highest gasoline prices in our country.....Go sarah and help yourself. I hope it goes to 10bucks a gallon up there.
I wonder where Exxon spends it's record Profits? We will never see it because it doesn't work! The same way it didn't work for Iraqi people under Saddam Hussein's communism! It worked for a few but the rest were poor under his regime.
At least Iraq doesn't have the amount of cars we have!
We are in big trouble.
Last comment, I heard today that Alaska has the Highest gasoline prices in our country.....Go sarah and help yourself. I hope it goes to 10bucks a gallon up there.
Babagounj
Strength through joy
Gas prices are higher because of the distance from the refineries to your local station, all those shipping costs.
Boy are you wrong about Saddam's Iraq , that was not communism. That was mass murder.
As for all those profits from Exxon, as a shareholder I would enjoy thanking for the interest you have shown. My cut would be higher but quite a bit of those profits had to be reinvested back into the company. All those offshore platforms to be repaired along with many new ones on order for future sites, man those things are not cheap.
In case you were not aware, ever citizen in Alaska get a yearly cut of all the oil profits.
Boy are you wrong about Saddam's Iraq , that was not communism. That was mass murder.
As for all those profits from Exxon, as a shareholder I would enjoy thanking for the interest you have shown. My cut would be higher but quite a bit of those profits had to be reinvested back into the company. All those offshore platforms to be repaired along with many new ones on order for future sites, man those things are not cheap.
In case you were not aware, ever citizen in Alaska get a yearly cut of all the oil profits.
moreluck
golden ticket member
"Gas prices are higher because of the distance from the refineries to your local station,.."
Baba, I always wonder about this......the California coast has several refineries right on it, and our gas is some of the highest in the country. It's got to be something else for us left-coasters.
Baba, I always wonder about this......the California coast has several refineries right on it, and our gas is some of the highest in the country. It's got to be something else for us left-coasters.
1989
Well-Known Member
Babagounj
Strength through joy
Also Ca. has all those chemicals added to your mandated type of gasoline , that results in more costs.
Since every state has different types, a surplus in one region can not be shipped & sold to another region that uses a different mixture. ( local emission laws ).
What is needed is a more unified system.
Since every state has different types, a surplus in one region can not be shipped & sold to another region that uses a different mixture. ( local emission laws ).
What is needed is a more unified system.
Ahhh, the combined tax in california is 55 cents my friend.
This goes to road repair and infrastructure not chemicals. Part of the Tax is the RONALD REAGAN "raised" FED gas tax.
Without the combined taxes, our gas would be around 1.95 a gallon.
Dont forget it was your beloved Hero who raised the federal gas tax.
Hail the tax cutter!
Here's a little something about Reagans trickle down sham:
Taxes
Before looking at taxation under Reagan, we must note that spending is the better indicator of the size of the government. If government cuts taxes, but not spending, it still gets the money from somewhere—either by borrowing or inflating. Either method robs the productive sector. Although spending is the better indicator, it is not complete, because it ignores other ways in which the government deprives producers of wealth. For instance, it conceals regulation and trade restricdons, which may require little government outlay.
If we look at government revenues as a percentage of "national income," we find little change from the Carter days, despite heralded "tax cuts." In 1980, revenues were 25.1% of "national income." In the first quarter of 1988 they were 24.7%.
Reagan came into office proposing to cut personal income and business taxes. The Economic Recovery Act was supposed to reduce revenues by $749 billion over five years. But this was quickly reversed with the Tax Equity and Fiscal Responsibility Act of 1982. TEFRA—the largest tax increase in American history—was designed to raise $214.1 billion over five years, and took back many of the business tax savings enacted the year before. It also imposed withholding on interest and dividends, a provision later repealed over the president's objection.
But this was just the beginning. In 1982 Reagan supported a five-cent-per-gallon gasoline tax and higher taxes on the trucking industry. Total increase: $5.5 billion a year. In 1983, on the recommendation of his Spcial Security Commission— chaired by the man he later made Fed chairman, Alan Green-span—Reagan called for, and received, Social Security tax increases of $165 billion over seven years. A year later came Reagan's Deficit Reduction Act to raise $50 billion.
Even the heralded Tax Reform Act of 1986 is more deception than substance. It shifted $120 billion over five years from visible personal income taxes to hidden business taxes. It lowered the rates, but it also repealed or reduced many deductions.
According to the Treasury Department, the 1981 tax cut will have reduced revenues by $1.48 trillion by the end of fiscal 1989. But tax increases since 1982 will equal $1.5 trillion by 1989. The increases include not only the formal legislation mentioned above but also bracket creep (which ended in 1985 when tax indexing took effect—a provision of the 1981 act despite Reagan's objection), $30 billion in various tax changes, and other increases. Taxes by the end of the Reagan era will be as large a chunk of GNP as when he took office, if not larger: 19.4%, by ultra-conservative estimate of the Reagan Office of Management and Budget. The so-called historic average is 18.3%.
In my opinion the gas prices of the summer were manipulated by Wall St. If you think about it, when the Tech stocks of the 90s, where any company with a .com was overvalued, it busted.
Then the housing industry was the way to go for investments, that went bust as well. Speculation buying, mortgage fraud, and bundled mortgage securities, sold to investment firms, who claimed they would make you money. Didn't happen, so investment banks went down the tubes.
Then Wall St scrambling for another entity, used the oil companies, and any reason to inflate the cost of oil, for whatever reason, now that went bust, and Wall St got caught with their pants down, and now we have today's economy.
In the meantime, hard working people are losing their retirement and personal investments, grocery prices skyrocketed along with gas prices, and people lost their homes. Could there have been anything else that could negatively impact the hardworking, honest people of the world?
Oh yeah, take a look at your real estate taxes, home values have decreased dramatically across the country, and your tax bill is probably higher than before. The reason for this, at least where I live, was a new equalization factor for your real estate value.
For me, my tax bill went up, to compensate for all the foreclosures in the county. You see, the people who either didn't qualify for a mortgage and got one anyways, or just plain irresponsible, their taxes are in default. And guess who gets to pitch in, to keep the county afloat, well that would be the people who can and are responsible to keep their homes.
What a kick in butt, for the people who do the right thing in life, holding themselves accountable for their financial responsibilities.
Then the housing industry was the way to go for investments, that went bust as well. Speculation buying, mortgage fraud, and bundled mortgage securities, sold to investment firms, who claimed they would make you money. Didn't happen, so investment banks went down the tubes.
Then Wall St scrambling for another entity, used the oil companies, and any reason to inflate the cost of oil, for whatever reason, now that went bust, and Wall St got caught with their pants down, and now we have today's economy.
In the meantime, hard working people are losing their retirement and personal investments, grocery prices skyrocketed along with gas prices, and people lost their homes. Could there have been anything else that could negatively impact the hardworking, honest people of the world?
Oh yeah, take a look at your real estate taxes, home values have decreased dramatically across the country, and your tax bill is probably higher than before. The reason for this, at least where I live, was a new equalization factor for your real estate value.
For me, my tax bill went up, to compensate for all the foreclosures in the county. You see, the people who either didn't qualify for a mortgage and got one anyways, or just plain irresponsible, their taxes are in default. And guess who gets to pitch in, to keep the county afloat, well that would be the people who can and are responsible to keep their homes.
What a kick in butt, for the people who do the right thing in life, holding themselves accountable for their financial responsibilities.
All you have to look at is the last figure on the chart.
253.4% increase under GW BUSH LEADERSHIP explains why the economy tanked.
You will not see 3 or 4 dollar gas under the OBAMA presidency in his first term. The likelyhood of seeing in his second term is not likely either depending on technology developement and implementation in 8 years.
The largest increase in history adjusted into 07 dollars was bush's first year, 60.4%.
The figures are not out yet for 08 so the number will go higher than that at the end of the year.
I dont see how anyone can say that BUSH was a great leader, With control of the White House, Senate and Congress, they DID ABSOLUTELY NOTHING about oil but let it go out of control.
This is why the republicans were T H R O W N out of power and sent to a larger minority.
With no republicans in power, the oil companies will not be able to gouge the american public. President OBAMA will flood the market with OIL from the Strategic Reserves and keep prices down if they try to do it again to attempt to stiffle any economic growth.
Babagounj
Strength through joy
The new American Way,
The Spreading of the Wealth.
We who lived & saved within our budgets, must now support those that could not do the same.
Just like wall street and the Bush administration, right? It is of course, the largest "redistribution of wealth" in the history of the united states.
Hopefully, you understand this.
..and before anyone tries to run with that "supply wasnt keeping up with demand" BS, this from the OPEC president in January 08 prior to the oil companies record prices and profits in 08.
OPEC Not to Blame For High Oil Prices, Its President Says
By Ahmed Rouaba and Maher Chmaytelli
Bloomberg
Sunday, January 6, 2008; Page A13
OPEC, the producer of more than 40 percent of the world's oil, is supplying the international market with enough crude and cannot be blamed for record prices, the group's new president said Saturday.
"There is enough oil in the market," Chakib Khelil, the Algerian oil minister who took over OPEC's rotating presidency for 2008, told reporters in Algiers. "It's the problems in Nigeria, in Pakistan and the credit crisis caused by the U.S. subprime-mortgage-market collapse that caused prices to increase."
He declined to say whether the 13-member Organization of Petroleum Exporting Countries might decide to raise output to curb prices when it meets Feb. 1 to discuss production targets at its headquarters in Vienna. "If we see that the U.S. economy has moved into a recession, we won't need to increase production because that will reduce demand" for oil, he said.
"OPEC seems happy with prices as they are," said John Hall, managing director of John Hall Associates energy consultants, based in Britain. "Otherwise, it would be thinking of increasing output to help the global economy and to meet rising demand from China and India."
Oil prices in New York rose to a record $100.09 on Thursday as violence flared in Nigeria, Africa's largest producer, cold weather in the Northern Hemisphere boosted demand for fuels and investors bought commodities to hedge against inflation. Prices closed Friday at $97.91 a barrel.
Government reports that U.S. job growth had fallen short of forecasts and that unemployment had jumped to a two-year high of 5 percent are driving concern that the economy is headed to a recession.
Two days ago, OPEC members Iran, Libya and Qatar said the organization could not curb oil prices and that speculation and fears of supply disruption from the Middle East and Africa are pushing oil gains.
OPEC, led by the world's top oil exporter Saudi Arabia, left production targets unchanged at its Dec. 5 meeting, ignoring U.S. and European Union calls to pump more oil.
OPEC Not to Blame For High Oil Prices, Its President Says
By Ahmed Rouaba and Maher Chmaytelli
Bloomberg
Sunday, January 6, 2008; Page A13
OPEC, the producer of more than 40 percent of the world's oil, is supplying the international market with enough crude and cannot be blamed for record prices, the group's new president said Saturday.
"There is enough oil in the market," Chakib Khelil, the Algerian oil minister who took over OPEC's rotating presidency for 2008, told reporters in Algiers. "It's the problems in Nigeria, in Pakistan and the credit crisis caused by the U.S. subprime-mortgage-market collapse that caused prices to increase."
He declined to say whether the 13-member Organization of Petroleum Exporting Countries might decide to raise output to curb prices when it meets Feb. 1 to discuss production targets at its headquarters in Vienna. "If we see that the U.S. economy has moved into a recession, we won't need to increase production because that will reduce demand" for oil, he said.
"OPEC seems happy with prices as they are," said John Hall, managing director of John Hall Associates energy consultants, based in Britain. "Otherwise, it would be thinking of increasing output to help the global economy and to meet rising demand from China and India."
Oil prices in New York rose to a record $100.09 on Thursday as violence flared in Nigeria, Africa's largest producer, cold weather in the Northern Hemisphere boosted demand for fuels and investors bought commodities to hedge against inflation. Prices closed Friday at $97.91 a barrel.
Government reports that U.S. job growth had fallen short of forecasts and that unemployment had jumped to a two-year high of 5 percent are driving concern that the economy is headed to a recession.
Two days ago, OPEC members Iran, Libya and Qatar said the organization could not curb oil prices and that speculation and fears of supply disruption from the Middle East and Africa are pushing oil gains.
OPEC, led by the world's top oil exporter Saudi Arabia, left production targets unchanged at its Dec. 5 meeting, ignoring U.S. and European Union calls to pump more oil.
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