Crude prices tap $65 to notch another record

[sabra]

http://www.investors.com/breakingnews.asp?journalid=30859074&brk=1

Crude prices tap $65 to notch another record

SAN FRANCISCO (MarketWatch) -- Ongoing concerns over conflicts in the oil-rich Middle East lifted crude-oil futures to a new intraday record of $65 a barrel Wednesday, even though U.S. data reflected ample domestic supplies, with imports at their second-highest weekly average ever.

[newswolf56]

1. The price is being driven up by greed, not shortages. This...

is a classic example of monopoly capitalism in action: market forces are irrelevant because the commodity in question is essential, which means the plutocrats can literally charge anything they want.

And because our DemoPublican politicians have utterly betrayed us (by refusing to build adequate public transport, and thereby selling us into permanent petroleum slavery), we have no choice but to pay whatever the plutocrats demand -- until eventually we stop going to work because we can't afford to get there, lose our jobs, default on our debts and are flung into homelessness -- the potential fate of EVERYONE who is not part of the oligarchy.

Make no mistake: petroleum prices -- from which there will be absolutely no relief ever again -- are already reducing the United States to a Third World economy.

And thanks to the politicians -- who by their greed-driven refusal to build mass transport KNOWINGLY condemned us to this fate -- no recovery is possible, now or ever. Literally -- because of the treachery of the politicians -- there are no alternatives. Period. It is simply too late. Never again will the wealth be available to finance construction of the required transport system, which means that never again will U.S. workers be anything more than the most abject of wage-slaves, working for ever-dwindling rates at ever-more-scarce jobs to pay ever-more-inflated prices for petroleum and therefore ever-higher prices for everything else.

Outsourcing? That's just the oligarchy pulling its capital out of the U.S. in time to beat the impending collapse.

What is coming is an economic horror unlike anything we've ever seen -- a downward spiral, already begun, that will make the Great Depression seem a time of huge prosperity by comparison. Starvation and homelessness will become commonplace. Socialism could radically ease this suffering by an equitable reallocation of resources, but the oligarchy will never again agree to share its wealth enough to allow it. Sure, eventually the economy will bottom out -- reach a point at which things can get no worse. But what does that matter if you've already been wiped out -- if you've already learned that, for you (and everyone like you), no recovery is possible?

[wli]

2. yes, it's time to run