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Wednesday, April 13, 2005 |
The Bush administration consists of shrewd, unscrupulous capitalists. By depleting the American Treasury they want to make sure that the Government will never again be able to impose its laws against corrupt corporations and their relentless exploitation of Americans and other nations. They are even taking advantage of the fall of the dollar to increase the oil prices.
CounterPunch: "There's been a lot of hand-wringing going on among economists and politicians, and a lot of fuming at the gas pump by consumers over the soaring price of oil over the last two years. The US will have lost its reason to start wars for dollar supremacy and as a result the American economy would benefit enormously.
Increasingly, concern is being expressed by treasury officials and economists about the negative impact soaring oil prices and related gas prices could have on the overall economy. Politicians-especially Republicans - are also fretting, since the thousands of extra dollars consumers are now spending on electricity, home heating and gasoline have, for all but the wealthiest taxpayers, more than cancelled out any minimal benefits they saw from the president's tax cuts.
In fact the real culprit behind these higher oil prices is the Bush Administration, which, thanks to its massive deficits and tax give-aways to the rich and corporations, to its war spending, and to its failure to combat unprecedented and ever-larger trade deficits, has been causing the dollar to plunge in value.
Oil is a commodity and it is priced in dollars. If dollars decline in value, then the price of oil will rise in inverse proportion."
It stands to reason that the dollar must soon be replaced by the Euro to create a secure and healthy world economy. The US would lose its reason to start wars to maintain the dollar dominance and, as a result, the American economy would benefit enormously. With that freed capital it would be possible to do research on alternative energy sources.
An IMF chief economist said: "We should expect to live with high oil prices."
There is no reason why we should put up with greedy and irresponsible corporations and governments.
11:47:04 AM 
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