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Reply #11: The President is an economic ignoramus [View All]

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Hawkowl Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-14-11 11:23 AM
Response to Reply #10
11. The President is an economic ignoramus
His reliance on the free market, the Chicago school of economics, and Wall Street robber barons for economic policy is an absolute travesty. This is his biggest weakness. I think he simply does not understand economics. He actually believes the lies of Wall Street.
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  -Exxon CEO Admits that Oil Should Be $60-70 Dollars a Barrel Based on Supply and Demand enough  May-14-11 08:33 AM   #0 
  - That means it should be about 40% less than today.  kentuck   May-14-11 08:37 AM   #1 
  - If the futures contracts establish a fixed price  wtmusic   May-14-11 09:09 AM   #2 
  - A futures contract only establishes a fixed price between two counterparties...  badtoworse   May-14-11 09:30 AM   #3 
     - But delivery is never taken on the product at the speculated price  tridim   May-14-11 10:41 AM   #7 
        - That's not how it works. One of them is a seller and the other is a buyer  badtoworse   May-14-11 12:18 PM   #16 
  - I think that was the biggest story that came out of those hearings. It should be on the front page  jillan   May-14-11 09:42 AM   #4 
  - Yes, but the price isn't only determined by supply and demand  hughee99   May-14-11 09:56 AM   #5 
  - And since the speculators are in collusion they can "speculate" whatever price they want.  tridim   May-14-11 10:42 AM   #8 
     - Do you have any evidence they're acting in collusion?  badtoworse   May-14-11 12:23 PM   #17 
  - We need to tax those son of a bitches and get our money back!  The Backlash Cometh   May-14-11 10:21 AM   #6 
  - Fuckers  somone   May-14-11 10:43 AM   #9 
  - The President's reaction: Drill for more oil!  Poll_Blind   May-14-11 11:16 AM   #10 
  - The President is an economic ignoramus  Hawkowl   May-14-11 11:23 AM   #11 
  - He's NOT an ignoramus. He's on their leash at best and one of them at worst.  Poll_Blind   May-14-11 11:26 AM   #12 
     - Yes, that's the alternative  Hawkowl   May-14-11 11:49 AM   #13 
        - So he's either an ignoramus or a bad person?  Poll_Blind   May-14-11 12:06 PM   #14 
           - He could be both  Hawkowl   May-14-11 12:34 PM   #18 
  - Wall Street speculation versus oil drilling?  Yon_Yonson   May-14-11 12:51 PM   #20 
  - Wall Street speculation versus drilling for more oil  Yon_Yonson   May-14-11 12:53 PM   #21 
  - I've been thinking about what determines oil prices...  dkf   May-14-11 12:15 PM   #15 
  - Shut eh down  Yon_Yonson   May-14-11 12:49 PM   #19 
  - If former Secretary of the Treasury Paulson actually said there was no speculation  indepat   May-14-11 03:51 PM   #22 

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