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Reply #97: Of course they can't win it. [View All]

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Stuttgart77 Donating Member (58 posts) Send PM | Profile | Ignore Sun May-08-11 12:13 PM
Response to Reply #96
97. Of course they can't win it.
Edited on Sun May-08-11 12:13 PM by Stuttgart77
No one can. You end up hurting everyone if you nationalize it. You hurt a few rich oil executives and millions of middle class and lower middle class.

Where do you think the stocks in companies like Exxon and Texaco are invested?
In pension funds, retirement funds, mutual funds and people's 401K's and IRA's. Not just the rich have those.

What are you going to re-employ Americans with? You gonna pay them with worthless U.S. dollars? Because everyone will be dumping the USD if you nationalize or even threaten to.
Just tell me how many people around the world hold the currency or even want to hold the currency of North Korea, Cuba, Nigeria, Iran, etc?

As for imposing tariffs, you wouldn't need to. No one would want to do business with us in the first place. This sounds like a suicide mission!

Bad idea. Bad economics. No thanks.
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