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My Vindication On Gas Prices

On February 25th, I posted an article titled  ”Gas Prices: Why Your Outrage Is Misplaced” (found here: http://t-j.cc/ykuhsa), Where I said:

#1 – Gas prices are at the levels they were in the late spring/early summer of 2008. (Graph 1)

#2 – Inflation has spiked tremendously since the same time in 2008 – when gas prices went even higher.  Thus the reason that gas prices dipped in 2008, and have climbed since then in conjunction with the inflation rates. (Graph 2)

#3 - Oil is currently trading about 34% lower than its all time nominal high set in July of 2008 (Graph 3)

#4 - Declining retail inventories will (and have?) help setup the perfect storm for massive price inflation across the board (Graph 4)

Again, Is this outrage justified?  No, because the American people are outraged at the wrong people.  Rather than being outraged at the oil companies and oil producers, the outrage needs to be on those who control the money supply – The Federal Reserve.

Instead of President Obama talking about releasing oil from the US Reserves, he should be talking about – and pressuring Congress for – the need for monetary reform in the United States.

This seemed to arm the Insult Cannon – which was aimed squarely at me.

Why, you ask?  Because I did not blame Barack Obama for high gas prices.  Instead I  blamed the high cost of fuelon the REAL cause for it: inflation and the devaluation of the US Dollar.  Apparently, because I highlighted this truth, I am “an idiot”, as well as “a socialist”, and more inappropriate terms.

Then I guess there are two other names to add to the list of “idiot” and “socialist”: Senator Rand Paul and WXIX Fox 19 anchor Ben Swann.  These two went on television after my article was written to say exactly what I had said.  Hmm….

Here is Ben Swann’s “Reality Check” from February 29th:

http://t-j.cc/xI38O9 (embed code failed, sorry!)

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And here is Senator Paul on FoxNews Channel from February 28th:

If telling the truth is makes me an “Idiot Socialist”, and being ignorant of the facts makes one a “Smart Capitalist Patriot” … Then this country is in far worse shape than I thought.

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  1. DJ Redman says:

    Who said truth-telling about the Feds printing of money, which will result in hyper-inflation makes you some kind of Socialist? That makes no sense.

    Bernanke at least recently has been talking about the Greek-style debt cliff we are driving off of in a Chevy-volt due to our never-ending debt-spending. many economists believe bernanke is/will be scapegoated for the hyper-inflation that is CURRENTLY rocking this nation and crippling the middle class.
    The bottom line is that this mess falls on the shoulders of the man at the top, Barack Hussein Obama, and if we the people do not defeat BHO this year, we are in a world of hurt as far as the economy is concerned. It will be bad enough for the next POTUS in 2013, let alone 2016 to stem the bleeding and put us back on a course to fiscal sanity to avoid the financial collapse and the chaos that will come with it.

    Some uninformed people( esp. younger ones) can’t see tomorrow to save their arse. No vision. A $40 tax break [which will help kill SSI today], will buy their votes for BHO, with no idea of the implications to the very near future. You are 100% correct here TJ, hyper-inflation is coming, and hell is coming with it.

    • Anonymous says:

      Oh believe me… I had multiple people call me a Socialist! I didn’t quite understand that either, but it happened!

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      “hyper-inflation is coming, and hell is coming with it.” …My new favorite quote!