06.22.08

The Oil Catch -22: VOTB

Posted in Politics, Vote Out The Bums at 6:42 pm by Administrator

“Drill Here: Drill Now” could triple the price of gasoline in the U.S. Initially, the thought of drilling for our own oil might sooth the pocketbook worry, but the downside consequences could bring on more inflation than we have already.

Citizens don’t realize that part of our national debt is tied directly to oil. Politicians that know this aren’t talking. Their only concern is lining their pockets and becoming fixtures in America’s ruling elite. (VOTB)

The top five foreign buyers (trade balance adjusted) of our national debt include OPEC, Canada and Mexico. These oil-producing countries are buying U.S. treasury notes with a percentage of the oil profits they make from us gasoline buyers. If we stop importing oil from these countries, they won’t have the money to invest in the U.S national debt. What happens to the value of the dollar? Science fiction inflation could occur, where a jar of strawberry jam would cost $235. (What movie?)

The other two of the top five foreign buyers of our national debt won’t let science fiction inflation occur. They have the power to cause it though. But, inflation of the U.S. dollar wouldn’t be in their best interest, today. But some inflation might be beneficial for future financial leverage. (Amero?)

Politicians are selling out the U.S. by overspending. U.S. citizens are paying the price at the pump. Several countries are buying the U.S. Oil is the common dominator.

Are politicians so blinded by their quest for power and money that they have lost their economic curiosity? Why aren’t they figuring this out? Would these same politicians overspend their family fortunes then borrow money from foreign creditors and pay them interest? Of course not, but they’ll do that with our money. What else would you expect from a bunch of self-serving politicians? Many of them are attorneys that have no clue about economics except what goes into their bank accounts.

The price of oil will never come down unless dependence of oil producing countries investing in our national debt is reduced. And of course, the national debt has to be controlled. That means the national budget has to be less than the money we raise.

The ratio of GNP to our debt argument is the political smoke screen. Politicians spend and increase our national debt saying that we’re ok because our GNP is higher than the debt. That’s code for we’re going to make ourselves and our friends rich on citizens’ backs. Some of them may even become wealthy, Rockefeller style.

The citizens that feel voting is a meaningless endeavor need to come out as a group. The non-participating electorate (75% of eligible voters) must get involved.

There is something we can do. We can all “Vote Out The Bums” every election cycle. Then we’ll get their attention. Then politicians will do something about our national debt.

Wake up America. The cry should be – VOTB – every incumbent, every election, not Drill here: Drill now!!

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