Today's Article
An increased
gambling on oil
demand may soon
crush any hope of an
economic recovery.
gambling on oil
demand may soon
crush any hope of an
economic recovery.
The American Spark
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Wall Street Oil Speculation May Wreck Recovery
By Cliff Montgomery - May 31st, 2009
Oil prices soon will post their greatest one-month spike since May, 1999. It's still too early to determine if this
sharp rise will usher in a repeat of last year's fiasco, when oil prices zoomed up to $147 a barrel. What is clear
is that the price of crude may well continue to increase through June.
It seems that speculation on future need--that is to say, old-fashioned Wall Street gambling--is at the center of
this sudden rise in crude prices. It is the same reason the overall stock market recently has been posting
higher numbers.
The fact that such wild-eyed gambling was one of the top reasons for America's financial meltdown clearly has
not been understood by this country's wealthy elite.
But why should they understand it? When they make great financial mistakes, those mistakes are paid for by
U.S. taxpayers, not by the wealthy themselves. And people who do not personally suffer for their mistakes will
never learn from their mistakes.
Regardless, this speculation may grow as Wall Street types gamble on two things:
1.) That the northern hemisphere will experience a cold winter;
2.) And that China and India will increase their demand for crude thanks to a quick economic rebound .
The immediate result of such gambling?
"Oil prices may be the greatest enemy of the recovery," stated the Internet source 24/7 Wall St.
"If consumers and businesses are forced to take whatever improving income they have and put it toward
oil-based products or gasoline," continued 24/7 Wall St., " that may suck the life out of a rise in discretionary
income."
Thus any immediate, hoped-for recovery from Wall Street's arrogance and incompetence is almost certain to
be destroyed...by Wall Street's continued arrogance and incompetence.
Like what you're reading so far? Then why not order a full year (52 issues) of the The American Spark
e-newsletter for only $15? A major article covering an story not being told in the Corporate Press will be
delivered to your email every Monday morning for a full year, for less than 30 cents an issue. Order Now!
By Cliff Montgomery - May 31st, 2009
Oil prices soon will post their greatest one-month spike since May, 1999. It's still too early to determine if this
sharp rise will usher in a repeat of last year's fiasco, when oil prices zoomed up to $147 a barrel. What is clear
is that the price of crude may well continue to increase through June.
It seems that speculation on future need--that is to say, old-fashioned Wall Street gambling--is at the center of
this sudden rise in crude prices. It is the same reason the overall stock market recently has been posting
higher numbers.
The fact that such wild-eyed gambling was one of the top reasons for America's financial meltdown clearly has
not been understood by this country's wealthy elite.
But why should they understand it? When they make great financial mistakes, those mistakes are paid for by
U.S. taxpayers, not by the wealthy themselves. And people who do not personally suffer for their mistakes will
never learn from their mistakes.
Regardless, this speculation may grow as Wall Street types gamble on two things:
1.) That the northern hemisphere will experience a cold winter;
2.) And that China and India will increase their demand for crude thanks to a quick economic rebound .
The immediate result of such gambling?
"Oil prices may be the greatest enemy of the recovery," stated the Internet source 24/7 Wall St.
"If consumers and businesses are forced to take whatever improving income they have and put it toward
oil-based products or gasoline," continued 24/7 Wall St., " that may suck the life out of a rise in discretionary
income."
Thus any immediate, hoped-for recovery from Wall Street's arrogance and incompetence is almost certain to
be destroyed...by Wall Street's continued arrogance and incompetence.
Like what you're reading so far? Then why not order a full year (52 issues) of the The American Spark
e-newsletter for only $15? A major article covering an story not being told in the Corporate Press will be
delivered to your email every Monday morning for a full year, for less than 30 cents an issue. Order Now!
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