Thursday, January 10, 2008

Heating Oil Prices Hit Record

Luckily my area has been warm lately.
The U.S. average retail price for home heating oil soared 5.4 cents over the past week to a record $3.40 a gallon, the government said on Wednesday

The national heating oil price was up 98 cents from a year ago, the U.S. Energy Information Administration said in its weekly survey of heating fuel costs around the country. It was the fourth week in a row that heating oil hit a record.

Heating oil prices are rising because of higher crude oil costs, which topped at a record above $100 a barrel last week, and tight supplies.

While distillate fuel inventories, which include heating oil and diesel fuel, increased by 1.5 million barrels last week, stocks are still down almost 15 million barrels from a year ago and are in the lower half of the average range for inventories at this time of year, according to the EIA.
This is just another nail in the coffin of the American middle class. So let me get this straight, we attacked an oil rich country and our prices climbed out of sight. We killed thousands of innocent people and the only ones who benefited were the rich cronies of this administration. Yet still 28% of Americans still support this President. What does he have to do to get you to see the light? Maybe if you have to decide between food and heating oil you will finally get a clue. Somehow I doubt it. The stupidity of some people astounds me.

Wednesday, January 09, 2008

Bush Keeping an Eye On The Economy

I needed a good laugh today. The mental midget is watching the economy!!
President Bush said Tuesday that he is watching very carefully to see if the struggling U.S. economy needs a short-term boost from the federal government.

"We're listening to different ideas about what may or may not need to happen," he said. "We'll work through this. We'll work through this period of time."

He wouldn't comment on any specific ideas he is considering, such as tax cuts aimed at lessening the chance of a recession. "We'll look at all different options."
The only thing this idiot seems to understand is tax cuts. With some luck this asshole will run the national deficit up to $10 trillion dollars and collapse the entire financial system of the country before he leaves office. The legacy of failure continues.

90,000 Mortgage Jobs Lost

Once again the little guy gets screwed while those at the top walk away with millions.
More than 86,000 mortgage jobs were cut in 2007 because of the weakening real estate market, according to a new report released Monday by

Countrywide Financial Corp., (CFC, Fortune 500) the nation's largest lender, shed the most staff in 2007. Net job losses at the Calabasas, Calif.-based lender totaled 11,665, or about 14 percent of all mortgage jobs lost during the year.

The numbers would have been worse, if not for JPMorgan Chase & Co. adding 4,465 mortgage jobs in 2007.
So what have we taught our children as a result of this subprime disaster? We have showed them that those that work at mortgage companies lose their jobs while those who designed and sold loans they knew would most likely never get paid back, earn millions. How is this different than the drug dealer in the ghetto who is looked up to because of his material possessions? We are saying that lying, cheating and stealing will make you rich but getting up every morning and going to work for a fair days pay will result in the loss of a job. Now thats a positive message to send our children. Nice work Wall Street, you once again have shown why strict regulations are necessary.