Saturday, July 19, 2008

Wall Street Shows Great Empathy For Main Street's Struggle With Expensive Oil

It's obvious now that my critical positions of Wall Street have been completely wrong. Yesterday in the New York Times it was reported that Wall Street is so concerned about gasoline and energy prices that they have mounted a full-blown lobbying effort to educate Congress on the crisis that regulation of futures markets and associated derivatives will create. And, in a great act of altruism they are doing so before Congress makes a serious mistake and passes a bill to limit speculation in the energy markets.

There is no doubt that Wall Street is paying lobbyists enormous sums of money to manipulate Congress because they are very concerned about the economy, the average American citizen and all of the world's poor unable to feed their children because of high food and energy prices. What a great act of selfless nobility and altruism.

Chiming in on behalf of his favorite lobbyists and Wall Street firms, Senator McConnell enlightens us with knowledge for the ages that “No reputable economist thinks speculators alone are the reason for the spike in gas prices.”. Now, that is most assuredly a prescient fact that was also applicable to the technology bubble in 2000. Oh great and humble Bodhisattva I feel so fortunate for achieving a new level of enlightenment.

Signing off from planet Mars...............
posted by TimingLogic at 9:17 AM