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Bloviating Zeppelin: The Weak Dollar: It's Starting

Bloviating Zeppelin

(in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Wednesday, January 13, 2010

The Weak Dollar: It's Starting


And there isn't a thing you can do about it.

The survival or crash of this nation now rests in the hands of Mr Obama.

And it's starting here:

Gasoline.

I'm sure you've noticed gas prices rising steadily at your local station. In Fornicalia, for example, the prices I've been paying recently have run from $2.93 to $2.99 for 87-octane unleaded at ARCO, one of least expensive series of stations in this state. The trade gap grows as oil prices jump.


Imports advanced 2.6 percent to $174.6 billion. Today’s report estimated petroleum prices rose to $72.54 a barrel in November, the highest level since October 2008. The increase in costs more than offset a drop in volumes as the U.S. imported 245 million barrels in November, the fewest since February 1999.


Prices have been jumping on the back of a strong oil market where the cost for a barrel has spiked 20 percent in the past month on the New York Mercantile Exchange.

Skyrocketing gasoline prices couldn't come at a worse time for motorists, who will see heating bills jump after the worst cold spell in years.

Oil prices are now about three times what they were a year ago.

"There is a long history of tripled oil prices causing consternation among consumers," Peter Beutel of Cameron Hanover said in a report Monday. "We are not there, yet, but gasoline prices at more than $3.00 is certainly an unwelcome sign of consumer distress."

Prices almost always tick up toward the spring as more people begin to drive and refiners switch over to cleaner burning fuels as required by law.


And of course, how it affects your wallet:
Motorists are paying about $50 more a month for gasoline than a year ago, and the total fuel bill for Americans now tops $1 billion per day compared with $650 million per day last year. Add in heating oil and diesel fuel, and the total fuel bill is probably $400 million to $550 million more each day than a year ago, said Tom Kloza of the Oil Price Information Services.

Ladies and gentlemen, it is just beginning; fuel prices are one of the first nodes to be impacted.

I am telling you now: Mr Obama possesses a remarkable amount of power that he could voluntarily wield for the benefit of the American taxpayers, and he will not. He will refuse. He will continue to print money and to insist on the creation of massive social programs, more spending, more bailouts, more so-called "stimulus" which isn't.

If you have money invested, you could pull it out and place in gold. You could put it all in your mattress. You could create your own series of sealed caches. And, ladies and gentlemen, you will still not be spared. Recession, depression.

Mr Obama will not stop spending -- therefore, he is locked into a plan of fatal errors.

BZ

18 Comments:

Blogger Well Seasoned Fool said...

Front range Colorado has a lot of oil rigs working. Some are reworking existing wells but some are new wells. May not mean anything but the industry has been shut down for months. Doubt the companies are expanding thinking oil prices are going down.

Tue Jan 12, 07:21:00 PM PST  
Blogger Clint said...

Unfortunately TeamObama has us right where they want us -- another economic trauma waiting to happen so we can all be dependent on the government for our every need.
I work in the airline industry and we are just now recovering from the 2008 Fuel prices. We furloughed pilots and they have all been recalled. Plus, we are doing more flying and we are going to be hiring more pilots this spring.
If fuel prices go back up, we can kiss this reality goodbye.

Tue Jan 12, 07:31:00 PM PST  
Blogger Milepost 154 said...

This comment has been removed by the author.

Tue Jan 12, 07:59:00 PM PST  
Blogger Old NFO said...

Inflation is starting... With the extreme cold weather, heating fuel is selling like hot cakes, leaving less for gasoline, requiring more bbls of oil for refining, driving costs up, when you add inflation, I'd not be surprised to see $100-120/bbl by summer.

Wed Jan 13, 12:36:00 AM PST  
Blogger Bloviating Zeppelin said...

WSF: thanks for visiting and thanks for commenting. You make a good point -- I can only envisage prices continuing to climb.

Clint: I fear that's going to be the path.

NFO: and you're correct, couple this all in with the inflation we'll all be seeing in 2010.

BZ

Wed Jan 13, 09:34:00 AM PST  
Blogger Z said...

BZ...it's dependence; they want us dependent for EVERYTHING from the government.
Oh, BZ....at least if our kids weren't so completely indoctrinated, I'd feel we have a chance out of this thing. As it is, I pose the suggestion that if the Left had just waited another 5-10 years to put someone as leftist as Obama is in office, America'd have been finished off in one year; Who'd have FOUGHT other than so many senior citizens as they are today against the healthcare bill?

Wed Jan 13, 09:50:00 AM PST  
Blogger Bloviating Zeppelin said...

Z: we can fight and complain but I'm starting to have serious doubts. The more people become mired in their own debt, the more. . .

Well, I'm wondering when the People will really reach their tipping point, if they're continuously ignored.

BZ

Wed Jan 13, 10:06:00 AM PST  
Blogger shoprat said...

The tipping point is close. Prices are going up and wages aren't.

The left has one weakness that we can exploit and that is that the typical leftist is a total coward who will not risk their I'm not-expendable skin for anything.

Wed Jan 13, 10:12:00 AM PST  
Blogger Debbie said...

Prices here in Tennessee have been fairly steady over the past month ($2.40 - $2.50's) per gallon. Obama has the power, but his agenda is not concerned with high gas prices. In fact, the higher the better as far and the Left is concerned. They always claim to be for the "little guy", but the opposite is true.

Debbie
Right Truth
http://www.righttruth.typepad.com

Wed Jan 13, 12:29:00 PM PST  
Blogger Greybeard said...

Thank you BZ.
Without the assurance of a few like minds, I'd truly think I was going crazy.

Wed Jan 13, 01:31:00 PM PST  
Blogger Ron Russell said...

A rise in the price of fossil fuels will fit right in to the Obama agenda and he will continue to do everything to assure these prices continue to rise.

Obama and those around him in the west wing secretly want inflation, and perhaps hyper-inflation, so they can declare an emergency and make more draconian moves. Just an idea, but one that does cross my conspiracy ladden mind from time to time.

Wed Jan 13, 01:33:00 PM PST  
Blogger dons_mind said...

funny - i heard on the radio news at lunch today that it was announced that although the total amount of unrefined oil in the country at this moment is extremely high, fuel prices had continued to rise. it's $2.59/2.69/2.79 here in west texas...

Wed Jan 13, 02:33:00 PM PST  
Blogger Bloviating Zeppelin said...

Debbie, you bring an excellent point; numerous Leftists, and the sterling Thomas Friedman, have said gas needs to be at least $7 + a gallon in order to stave off our usage of petroleum products.

Yes. Wonderful. And that would resultingly kill national transportation, including locomotives which transport items by bulk, trucks which transport less-than-carload items point-to-point, other common carriers, not to mention those needing to work daily. But wait! The electric car, the electric truck, the electric locomotive -- these will save us all, yes?

No. Just where do you think we'll be acquiring all that required extra electricity? The electrical generation stations that we have refused to build for years and years?

Greybeard: no. You're not nuts.

Ron: Draconian Moves? You mean like Obama's EO for the establishment of the Council of Governors? Like the Rand Report to the Obama Admin calling for a "National Stability Police Force?"

Like THAT?

Don: and being in Texas, home of the Chemical Coast and various refineries, are they all up and running now?

BZ

Wed Jan 13, 03:16:00 PM PST  
Blogger Tim said...

GB- You ARE crazy. How soon you forget that gas was nearly $5 a gallon when W and Cheney were in the driver's seat. Remember when you were paying $100 a week on gas and not $50 like you are now? That's $2,600 more over one year, which can be directly attributed to the Iraq war.
The decline of the dollar was also in full swing under their sterling stewardship. The dollar will gain value when interest rates on US bonds begins to rise. When this happens, you will also see gold, oil and other commodities begin to decrease in value little by little.
With the execption of the value of my home, I have completely recovered my investment portfolio and increased it by over 25% since Jan 07. When you all were burying gold coins in the backyard I bought Apple at $88 a share. It's at $210 now. We are at the beginning of an economic uptick. As Warren Buffet says "be fearful when everyone is greedy and greedy when everyone else is fearful."
A certain amount of inflation is expected when there is an economic expansion.

Wed Jan 13, 04:05:00 PM PST  
Blogger Bushwack said...

The dollar is going to mirror Obama's homeland currency if he, Reid and Pelosi have their way... The things at work these days in our government are typical of Obama's fatherland. Need money? Print more... Gas prices are just the tip of the iceberg.

Wed Jan 13, 09:08:00 PM PST  
OpenID bd said...

Amazing how wingnuts blame Obama for residual Bush incompetence.

Thu Jan 14, 05:53:00 PM PST  
Blogger Tim said...

BD- It's all they got. They are going for the Hitler method: Tell a lie enough and people will believe it's the truth.

Fri Jan 15, 08:24:00 AM PST  
Blogger A Jacksonian said...

Godwin's Law on reductio ad Hitlerum.

Back up the equivalencies with the NSDAP and how they operated, demonstrate relevence or otherwise factually illustrate the reference to Hitler and the NSDAP.

That is the National Socialist Democratic Worker's Party... the Nazis. Strange to say it Hitler was quite direct about what he was going to do in Mein Kampf, and got public adulation for it. He wasn't selling a lie, but selling something that he told everyone about, in detail. He got his war a bit early, true, but then he thought the West was going to continue rolling over and play dead.

BTW the 'repeat the lie' is a Stalinism. Also of 'one death is a tragedy, a million deaths is a statistic' that he used to cover up the deaths under his rule. Can we at least keep the International Socialists and the National Socialists differentiated?

And do keep Godwin's Law in mind. Not minding it loses arguments immediately: show the parallels directly or find another venue to attack as using Hitler and the NSDAP is a way of just attacking people without basis.

Doing such things helps keep discussions civil.

That builds civilization.

Sun Jan 17, 04:13:00 AM PST  

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