A note to those complaining about the speculators running up the price of crude oil. Please remember that oil is priced in dollars. Print more dollars, the value of the dollar decreases, the price of goods go up. Yes, speculators also helping to increase the cost of oil.
Also remember that part of the high cost of fuel in Europe are taxes. Vat, excise, sales, etc.. These high taxes help pay for their "free" medical care.
JM2¢W......
SRT
2000 32' HR Vacationer with Banks
1998 Subaru Outback Ltd. 5 spd
Brake Buddy & Blue Ox Aventa II tow bar
FMCA #266040 HRRVC #84109
Gasoline prices around here just bumped up again. Most stations went from $3.67 to $3.73. If this keeps up prices will be over $4.00 by the end of April.
mudmaker wrote: Crude oil speculators beware, there is a huge target on your back.
Instead of complaining, why don't you just buy Oil futures? You seem to think it's a quick get rich scheme.
That target has been on my back for a long, long time. Nothing has changed, buying oil futures is still legal, and my 401-K is looking better now. Anyone that couldn't see this coming three years ago must of been blinded by all that Hope.
Actually it was about 10 years ago when oil became a business of government. I agree with Obama that we need to put a tax on commodity orofits at about 12.5% or more. This would begin to bring the prices backs in line. This is "oh no not a tax" even though it affects every single American and would only apply to some.
It's already taxed at 15%, it's a capital gains. And for some, like me, when it's in a IRA, it's taxed as regular income. So you and Obama seem to not know what you're talking about. Either that or you're just trying to spin it so it makes a good sound bite, but in reality has no basis in fact. That's usually what Obama does.
* This post was
edited 03/20/12 12:37pm by bid_time *
mudmaker wrote: Crude oil speculators beware, there is a huge target on your back.
Instead of complaining, why don't you just buy Oil futures? You seem to think it's a quick get rich scheme.
That target has been on my back for a long, long time. Nothing has changed, buying oil futures is still legal, and my 401-K is looking better now. Anyone that couldn't see this coming three years ago must of been blinded by all that Hope.
Buying oil futures to offset the inflated price would be great if one can afford it. However, many, myself included, cannot afford to do that. I have to get to work...
Speculators are the major problem. If that includes anyone here, well, unfortunatuly that makes you part of the problem.
mudmaker wrote: Crude oil speculators beware, there is a huge target on your back.
Instead of complaining, why don't you just buy Oil futures? You seem to think it's a quick get rich scheme.
That target has been on my back for a long, long time. Nothing has changed, buying oil futures is still legal, and my 401-K is looking better now. Anyone that couldn't see this coming three years ago must of been blinded by all that Hope.
Buying oil futures to offset the inflated price would be great if one can afford it. However, many, myself included, cannot afford to do that. I have to get to work...
Speculators are the major problem. If that includes anyone here, well, unfortunatuly that makes you part of the problem.
Oh No !!- It's not unfortunate at all. It's really quite fortunate, "Unfortunate" would be if someone changed course to make the price go down. For at least the next two weeks I'm betting they won't. After that I'll have to re-evaluate.
bid_time wrote: You wouldn't recognize the devil if you were staring him in the face. I merely read the tea leaves and play my hunches. This one was easy to foresee.
Who said I didn't see the price increase coming? Speculators are a huge part of the problem. Those that don't care that they are part of the problem will continue. But that has nothing to do with me or the devil, if you believe in such a thing...
bid_time wrote: No !!- It's not unfortunate at all. It's really quite fortunate...
If you don't mind being part of the problem...
You wouldn't recognize the devil if you were staring him in the face. I merely read the tea leaves and play my hunches. This one was easy to foresee.
Your response about Cap gains taken make that Obama tax 27.5%on futures. Thanks for the clarification.
2008 Silverado D/A,CC 4x4 ,3.73,IBC LTZ+
2012 Jayco 322 FKS
2 Trek bikes
Honda EU2000i
It must be time to go, the suns out and I've got a full tank of diesel! Lifes short enough without bitch'n about it!
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