The Idiocy In Washington DC Continues…With the Democratic Party Proposing Things That Would Drive UP the Price of Crude Oil and Thus Gasoline on the American People! – Yes, These Are Very Stupid People! – Here’s A Thought: How About Ending ALL of the Subsidies, Tax Breaks and Giveaways To ALL the Corporations and Industries That Spend Millions of Dollars Buying Off OUR “Elected Leaders?” – Yes, That’s A Novel Idea…America Could Go Back To Being America….With Real Capitalism…Which Rewards Real Success and Punishes Real Failure – Oh, the Wall Street Bastards Wouldn’t Like That At All…Since Most of Them Couldn’t Turn Dollar One Without the Federal Reserve Bailing Their Sorry Asses Out Every Few Years! – Stop the Madness in Washington DC…But Does Anyone Think OUR “Elected Leaders” Are Going To Quit Taking Money From People They Turn Around and “Take Care Of?” – Not A Chance in Hell and That Is Why America Is Caught In A Boom and Bust Cycle That Can ONLY Be Broken With Real Reform That Would Benefit the Country and the American People.….and the American People Don’t Have Time Nor Do They Care About Buying Off Politicians…So Don’t Hold Your Breath On Anything Changing Anytime Soon!
As the Idiocy continues in Washington DC with the Democratic Party singling out ONE American industry’s special tax and subsidy goodies. “Big Oil’s” tax breaks (Vote to hike taxes on oil faces in Senate), while EVERY other corporation in America that has bought and sold OUR “Elected Leaders” skate by without hardly a look and we can only wish that someone in OUR nation’s capital would make the following speech…
From Mark Perry’s blog Carpe Diem via Daily Markets: Carp Diem, Mark Perry
“Here’s a weekly presidential address I’d like to see, based on President Obama’s address last week on “Taxpayer Subsidies for Oil Companies Farms are Neither Right, nor Smart, and They Should End.”
WASHINGTON – “As oil and gas companies American farms make tens of billions in profits and the government scours the budget for savings, President Obama called on Congress to stop handing them $4 billion $12 billion annually in taxpayer subsidies.
After the worst recession since the Great Depression, our economy is growing again, and we’ve gained almost 2 million private sector jobs over the last 13 months. But I also know that a lot of folks aren’t feeling as positive as some of those statistics might suggest. It’s still too hard to find a job. And even if you have a job, chances are you’re having a tougher time paying the rising costs of everything from groceries to gas. In some places, gas ground beef is now more than $4 a gallon $3 per pound and milk is more than $3.50 per gallon meaning that you could be paying upwards of $50 or $60 to fill up your tank $500 or $600 per month to feed your family.
Of course, while rising gas food prices mean real pain for our families at the pump grocery store they also mean bigger profits for oil companies America’s farms. This week, the largest oil companies U.S. Department of Agriculture announced that they’d made more than almost $25 billion in the first few months of 2011 – up about 30 20 percent from last year.”
Oh, that’s Rich and So Very Damn True because ALL of these corporations that spend Millions of Dollars lobbying OUR “Elected Leaders” to give them Billions of Dollars of tax breaks, subsidies and even direct access to the American People’s hard-earned money are part of the real problem in America not just “Big Oil,” but then it takes “Real Leaders” and not the demagogues that now dominate Washington DC that care little about anything but trying to gain advantage for the next election….while the American People be DAMNED of course!
Mark Perry also points out a TRUTH in his Carpe Diem blog about Oil Industry Profit Margins:
“The table below shows industry rankings for net profit margin (profits / sales) of the top 114 industries out of 215 total industries during the most recent quarter, from Yahoo!Finance.
The top five oil companies (Chevron, Shell, BP, ExxonMobil and ConocoPhillips) are part of the “Major Integrated Oil and Gas” industry, and the CEOs of the “Big Five” are appearing today before the Senate Committee on Finance, to get grilled about the “taxpayer subsidies” and “tax breaks” they receive, explain why they deserve to earn record “windfall” profits, and explain the role they play in higher oil and gas prices.
As the table below shows, the Integrated Oil and Gas industry made an average profit of 6.2 cents per dollar of sales, which ranks #114 out of 215 industries by profit margin, and puts oil companies right in the middle of industries by profitability.”
Yes, STOP THE IDIOCY in Washington DC and instead of just focusing on “Big Oil” which is not the reason why Crude Oil prices are high….
(If you want to know the REAL REASON why Crude Oil prices are around $100 Dollars a barrel don’t call “Big Oil” before the US Senate, but get Uncle Ben Bernanke and his Federal Reserve buddies up to The Hill to explain why there is a DIRECT correlation with all their money printing (QE2), the decline of the US Dollar and the rise of ALL commodity prices include Crude Oil.)
And now the Crude Oil chart for the last year:
….do away with ALL the subsidies, tax breaks and direct payments to corporations and let’s actually go back to REAL CAPITALISM in America!
What an Idea! REAL CAPITALISM without Idiots in the Congress favoring one company, corporation or industry because they stuffed a few bucks in his/her pocket and a group of Morons that haven’t done an honest day’s work in their lives, Uncle Ben and his buddies at the Fed, propping up their Wall Street Masters to the detriment of the rest of America.
Oh, the vast majority of “banks” and people on Wall Street wouldn’t last five seconds in the Real World with Real Capitalism?
Yes, you would be right, but then capitalism doing what it does best, flushing out failures and letting the cream to rise to the top, would be a Very Good Thing for the American Economy and with Real Capitalism most of these Wall Street Bastards would be picking oranges, apples and strawberries for a living because most of these SOBs couldn’t turn Dollar One if they didn’t have the US Government and Federal Reserve backing them up and cashing out their bad gambling debts.
Let’s get America back to being America and that means that members of Congress need to kick the lobbyists and influence peddlers to the curb and the Federal Reserve needs to get out of the business of bailing out the Ivy League flunkies on Wall Street.
Since most of the US Congress has been bought and sold many times over and Uncle Ben Bernanke can’t go to the bathroom without calling Wall Street first don’t hold your breath on any of the above happening!