Monday, September 15, 2008

Oil falls to 7 mth. low; below $95 / barrel

Other energy futures also fall sharply. Those evil speculators!

I blame Geo. Bush.

Oil futures fell as "turmoil in the financial markets hurt sentiment and reinforced concerns about weaker oil demand growth," said Michael Davies, an analyst at Sucden Research, in a note. Last week, oil prices posted a loss of 4.8%.

Weak demand on future supplies drive prices down?? Golly. Note to nutroots: textbook economics lesson here.

That 'turmoil in the financial market' is Lehman Brothers Holdings filing for bankruptcy. The investment banking firm giant is closing its doors with more than $600 billion of debt.

I blame the FTC and 9% nancy's do nothing myrmidon congress.

Mr. Citizen of the World blames the Republicans. Of course. Even though it's 9% nancy & her do nothing congress which has done, well, nothing since 2006.

And guess who tops the list of recipients for the millions of dollars which Lehman Bros. has contributed to congress over the years?

Why no other than Hillary Clinton and Mr. Citizen of the World! Plus, key democrat senators on the powerful Senate banking committee.

Fight the smears? Isn't that what Mr. Citizen of the World said?? Seems to be a wide disconnect between rhetoric, fact and action.

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