Thursday, March 15, 2012

Getting Simpletons to Blame Obama

This crap about trying to blame President Obama for rising gas prices needs to be seen for what it is: a cynical attempt by Republicans and their official partner, Fox News, to derail the President's reelection prospects. They, Republicans, do it in part to divert attention away from the inane clown car called the Republican presidential primaries. But they also do it it part because they know that many low-information voters will fall for it, like the guy below.

For those interested in the real reasons why gas prices fluctuate, and why they should be rising at this particular time, I invite you to read Why are Gas Prices Skyrocketing?  It is worth noting the evidence he provides showing that Asia and Europe are buying up oil because of the fear that, once again, the US will precipitate a war in the Middle East and jeopardize supplies from Iran.

But the real reason gas prices are rising is because Wall Street speculators are driving up prices. The Commodity Futures Trading Commission knew it was true in 2008, when gas prices shot up under Bush, and it knows it is true under Obama. CFTC Commissioner Bart Chilton explains in the video below how it works and who pays. It is part and parcel of conservative economic policies that ensure the transfer of capital from Main Street to Wall Street. 

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The video below is from 2008, when Bush the Lesser was still President, and is why I say Fox News panders to low information voters; especially those with short memories. Speculators drove up prices near the end of Bush's tenure. Most at Fox don't want to shine the light on Wall Street traders, but at least Bill O'Reilly knew enough--in 2008--to recognize the role of speculators and that an American President doesn't wield power to dictate gas prices, or to curb speculation.

Except, apparently, when the President is a Democrat.

The mendacious inconsistency of the arguments thrown out in the unceasing effort to undermine the Obama administration would be downright hilarious were it not for the stakes involved.

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