Subprime big losers now drive oil and gas prices higher

U.S. crude oil prices rose more than $9 a barrel to a record $137.70 a barrel, the biggest gain in dollar terms in the history of the market, on bullish forecasts from big investment banks like Morgan Stanley — which said Friday oil could hit $150 a barrel by early July. Morgan Stanley, the same losers that had a total fourth quarter writedown of approximately $9.4 billion (2007) on subprime issues! What right do they have to speculate on oil, when the net result is an immediate jump in gasoline prices for every man, woman, and child in the United States? Morgan Stanley – the same self serving subprime losers that are attempting to make a profit on the backs of everyone and anyone they have yet to touch.

In an article seen on Household – HSBC Watch, we see how the top five users of swap agreements are investment banks, four of which dominate swap dealing in commodities and commodities futures. And if that is not enough to anger you, the way in which such investments are allowed is through a loophole.

One analyst said problems happened “…well after the U.S. dollar had its little bump, so to attribute that to the fares of the dollar would seem to be incorrect.” Little bump? NO, I’m sorry but subprime problems were a planned experiment gone wrong. It was more than a little bump. And now the subprime big losers can drive oil prices even higher by being “bullish.” Thanks, Morgan Stanley. Thanks from every American home and household. Clearly our current leadership is happy as long as they don’t get caught lying to Americans about Iraq and other cover-ups. Clearly the worst president the United States ever had is happy in his little game of give and take. Clearly the current administration is happy to sacrifice America while running up the larget debt ever seen.

Look behind the scenes to discover who is financing the great American debt and you will see the real power, and the real bandits. It is to their advantage to pile debt upon debt. It is to their advantage to encourage the worst president America has ever had. With a mix of encouragement and blackmail – or shall we say turning a blind eye to the facts – the investment banks and subprime losers can turn a huge profit while breaking the backs of everyone. It shall remain unabated. High fuel prices and food costs reduce the quality of life. Stimulus checks are worthless. Trucking is all but ruined. Farmers are bitter. Young people cannot find jobs. And reality is just now hitting home.

What a legacy for our current president. What a sad day it is for his father, as Bush senior evaluates Bush junior. The elderly are falling upon hard times, and people are doing without the basics just so they can afford to drive to work. Do you know what gasoline prices will be next week? How much to budget? What to expect? Maybe if Morgan Stanley has their way we can all be in more pain. People are riding bicycles and scooters. Others are walking. Older, smaller cars are making a comeback. Study the traffic jams and crazy drivers in India and perhaps you will see America by summer’s end. Quality of life ladies and gentlemen. Quality of life. A farmer cannot exist on a moped, a trucker cannot make ends meet, and foreigners are buying the United States for a dime on the dollar. Bush gave us away!