Posted by
rycK on Friday, June 27, 2008 7:41:09 AM
Krugman of the NYT Condones, Predicts and Celebrates High Gas Prices.
We can always derive some historical and future political theorems from the political essays of the NYT—aka the Walter Duranty Papers[1]-- as they attempt to ‘form public opinion’ or justify the antics of their ideological partners in Congress by suggesting new and sweeping changes that ultimately lead to socialism and the loss of Constitutional Rights. Today, the notion that oil prices may decline is pooh-poohed.
“Congress has always had a soft spot for “experts” who tell members what they want to hear, whether it’s supply-side economists declaring that tax cuts increase revenue or climate-change skeptics insisting that global warming is a myth.”[2]-- Fuels on the Hill By PAUL KRUGMAN June 27, 2008. [Emphasis is mine in all quotes.]
Read “stooges” for experts here as in the case of Alar where some dim bulb from Hollywood named Meryl Streep, mounted the stand and testified using her what—talents?[3] She must be some kind of ‘expert’ on something. But, she was wrong. Using Krugman as an analogy, she is probably as good or betters a biochemist or pharmacologist as our krugmaniacal writer for the NYT is skilled in elementary economics.
Notice that the only two ‘expert theories’ mentioned in his opening burst are implicitly counterfeit as they favor the unacceptable supply-side economics or dump on climate-change critics who expose the phony science[4] in their plans.[5] This is typical in a propagandistic screed where some hot points are included in the opening verses and used to misdirect the reader. The New York Times is skilled in such propaganda. [6] These theorems are false as supply-side economics works well but to the detriment of the left and the EcoNazis are a phony as a Frank the Crank Rich [7]op-ed piece.
So, the propagandistic props are set up for the freak show:
“Right now, the welcome mat is out for analysts who claim that out-of-control speculators are responsible for $4-a-gallon gas.”
This is as phony as writing long essays that disprove that Barack O’Bozo is not a Muslim. All leftists celebrate the high gas prices and are going to the mat on this one.
“Back in May, Michael Masters, a hedge fund manager, made a big splash when he told a Senate committee that speculation is the main cause of rising prices for oil and other raw materials.”
This is like saying that howling dogs are responsible for the high cost of dog food. Masters is nobody and everybody knows that. His opinions are worthless except for those who foolishly bought shares in his scam. The role of speculators is usually to flatter out highs and lows in markets and the impact of speculation on ‘bubbles’ is unclear[8] They are not to blame, but what is the truth worth in politics and especially the New York Times in an election year?
“And it was John McCain, not Barack Obama, who recently said this: “While a few reckless speculators are counting their paper profits, most Americans are coming up on the short end — using more and more of their hard-earned paychecks to buy gas.”
Why are politicians so eager to pin the blame for oil prices on speculators? Because it lets them believe that we don’t have to adapt to a world of expensive gas”
McCain is a moron who needs a nose ring and mindlessly mouths political points. But, the central point of this screed is that we have to adapt to a world of expensive gas!!
Let us stay focused on the leftist dogma here.
We will not have expensive gas if we drill and expand our oil supply. Krugman has major problems with supply and demand schedules as he prefers a command economy that reeks of the famous Moscow Central Planning Circus [9]that wrecked the USSR and its disnimble satellites. We have perhaps ¼ of all the oil on the planet available to us, but the left needs an economic crisis to blame on capitalism and get control. Their phony tax dodge is Climate Change, a transparent version of EcoNazism.
There was even a call to nationalize the oil companies by leftists such as Maxine Waters.[10] Cruz Bustamanteof CA also called for the state to seize oil companies. He is a hate-twisted Stalinist-style Hispanic supremacist. [11]They seem to have backed off this nationalization campaign temporarily. It will return. Maxine is not the brightest star in the leftist orbit, but she is as vindictive and hateful as Cruz and will do her part to grunt and grab some wealth for her party.
“O.K., let’s talk about the reality.”`
O.K., let’s talk about the ‘reality’ of the situation after the stipulations and preconditions have been set up by Krugman.
“In any case, one thing is clear: the hyperventilation over oil-market speculation is distracting us from the real issues.”
A fact. This is precarious as our krugmaniacal propaganda artist gives up a neat leftist political vector to sally forth on something else. But, all is well.
The prediction that conforms to the leftist dreams:
“Regulating futures markets more tightly isn’t a bad idea, but it won’t bring back the days of cheap oil. Nothing will. Oil prices will fluctuate in the coming years — I wouldn’t be surprised if they slip for a while as consumers drive less, switch to more fuel-efficient cars, and so on — but the long-term trend is surely up.”
This is a notion that resembles sulfurous swamp gas or perhaps the glitter of fireflies in the night. Our ‘economist’ here ignores the wild antics to drill and drill by everybody else in the world except us even including Cuba. Eric Sevareid, in his closing piece for CBS News after the Peanut Jimmy Follies , predicted an ‘oil glut.’ That happened and oil went down to $14 a barrel for a long while. Where there is money some bozo will put diamonds or guns or furs on the drum and do some bidness. The supply will increase and world prices will fall unless politicians impose huge taxes on fuels, which they will certainly do. Capitalism is fueled by fuel and energy and that must be severely limited so socialists can wreck the US as they did most of Europe.
And the tautological finale!
“But we won’t have even the beginnings of a rational energy policy if we listen to people who assure us that we can just wish high oil prices away.”
High oil prices no matter what!! That is what the leftists want and they derive high taxes now and those will soar with their phony Cap and Trade Follies.[12]
As the dog returns to its vomit, [13]the leftist returns to the sacred Tax Base for their survival and future. And, this goes on as long as people are foolish enough to vote for the idiot Marxist stooges known as liberal Democrats. All the Democrats have is your money and they want a lot more.
The liberals will say and do anything to get more political power and grab more wealth. Anything at all.
rycK
Comments to: ryckki@gmail.com
[1] In honor of that celebrated Communist stooge and liar and winner of the Pulitzer Prize for the NYT. The color RED is used in my essays in honor of Walter Duranty, a saint, if there could be one, in the Marxist Archives of Honor.
[2] Fuels on the Hill By PAUL KRUGMAN Op-Ed Columnist Published: June 27, 2008. http://www.nytimes.com/2008/06/27/opinion/27krugman.html?_r=1&hp&oref=slogin
This link references all quotes in this essay unless otherwise indicated.
[3] http://www.edweek.org/login.html?source=http%3A%2F%2Fwww.google.com%2Fsearch%3Fhl%3Den%26q%3Dalar%2Boregon%2Btestify%2Bstreep%26btnG%3DSearch&destination=http%3A%2F%2Fwww.edweek.org%2Few%2Farticles%2F1989%2F03%2F22%2F08220034.h08.html&levelId=2100&baddebt=false
[8] The cause of bubbles remains a challenge to economic theory. While many explanations have been suggested, it has been recently shown that bubbles appear even without uncertainty,[3] speculation,[4] or bounded rationality.[5] Most recently, it has been suggested that bubbles might ultimately be caused by processes of price coordination[6] or emerging social norms.[5] Because it is often difficult to observe intrinsic values in real-life markets, bubbles are often identified only in retrospect, when a sudden drop in prices appears. Such drop is known as a crash or a bubble burst. Both the boom and the bust phases of the bubble are examples of a positive feedback mechanism, in contrast to the negative feedback mechanism that determines the equilibrium price under normal market circumstances. Prices in an economic bubble can fluctuate chaotically, and become impossible to predict from supply and demand alone.
http://en.wikipedia.org/wiki/Economic_bubble
[11] A MEChA (Movimiento Estudiantil Chicano de Aztlan) slogan translates as "For the race everything. For those outside the race, nothing." El Plan de Aztlan, a founding document carried now on many MEChA Internet sites, talks about the "call of our blood" and the need to reclaim the Southwest (Aztlan) from "the occupying forces of the oppressor." As if the Nazi-like call to the power of blood isn't scary enough, Miguel Perez of Cal State-Northridge's MEChA raised the issue of ethnic cleansing. Once Aztlan has been taken over, he said, non-Chicanos "would have to be expelled" and opposition groups quashed "because you have to keep the power."
http://www.usnews.com/usnews/opinion/articles/030915/15john.htm
[12] http://en.wikipedia.org/wiki/Emissions_trading