Originally posted by Desert_Rat:
To Jorge's point, the devalued dollar is doing a lot to impact this too since that's the currency used by oil markets.
Bullshit like this tax credit and bailing out bad lenders and stupid borrowers is making that much worse too.
The housing bailout is another problem that Congress is getting involved with that will ultimately have unintended consequences that the taxpayers will again be fucked.
There are very few sentient, intelligent beings in Congress and the majority of our society's problems are because of Congress.... and the consequences of their actions.
They are voting on more housing bailout this week I believe. The taxpayers will be in the bag for well in excess of an additional $300 billion in bad mortgages plus everyone who owns 401K's and mutual funds will be taking a hit because the market is going to have to absorb billions of dollars in losses mandated by Congress.
The devalued dollar and the futures market on oil is also being manipulated by overseas and international interests because of politics.
We are now in the age where international entities can manipulate the US economy and maybe even have a dangerous amount of control over it than we do ourselves.
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