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Wait... is Obama from Texas???

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Wait... is Obama from Texas???

Unread postby Ziner » Thu Apr 08, 2010 9:45 pm

How else can we explain rising oil prices? Bush was to blame for high oil prices during his term. It is only logical to assume Obama is to blame now.

Halliburton!!!!

Exxon!!!!

http://www.ft.com/cms/s/0/28f1e2a6-432e ... ab49a.html

:hide:

NHB has been boring lately, want to hear all the Bush was just making money for his oil buddies people now.

On a serious note between rising oil prices and the expiration of the First time home buyer credit it isnt looking good for an economy looking to turn the corner. If I were king I would propose some sort of tax credit that encourages downsizing (or upsizing if you can afford it) to keep the housing market going.

Edit: Swerb trying to rope you in here a little to hear your take on the current economic situation, have been reading your dailydish lately.
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Re: Wait... is Obama from Texas???

Unread postby swerb » Thu Apr 08, 2010 10:11 pm

It's all Bush's fault. Just ask Obama.

Regarding housing, the Fed is already sitting on about 1.3 trillion in US mortgage backed securities. The right play is to begin to flush some of that back into the market and let natural market forces go to work.

But more federal intervention is likely to happen. People are spoiled by low rates, unemployment is going to be 10% for a long time, and the housing market is still a mess. Obama has no backbone and will cave like a little girl.
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Re: Wait... is Obama from Texas???

Unread postby Cerebral_DownTime » Thu Apr 08, 2010 11:24 pm

Oil is expensive because it's controlled by A-rabs. I heard that somewhere.
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Re: Wait... is Obama from Texas???

Unread postby Ziner » Thu Apr 08, 2010 11:36 pm

Cerebral_DownTime wrote:Oil is expensive because it's controlled by A-rabs. I heard that somewhere.



Nut-uh, I done heard that Bush is making millions off this shit. He paid off Obama, that is the only logical explanation.
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Re: Wait... is Obama from Texas???

Unread postby Cerebral_DownTime » Thu Apr 08, 2010 11:45 pm

Bush doesn't know how to make money off oil, his time running those companies in Texas proved that. The speculators on the other hand.......
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Re: Wait... is Obama from Texas???

Unread postby Ziner » Thu Apr 08, 2010 11:52 pm

Cerebral_DownTime wrote:Bush doesn't know how to make money off oil, his time running those companies in Texas proved that. The speculators on the other hand.......


Now quit speaking logical, I want to hear from the people who blamed oil prices on Bush, enough out of you logical libs. (oxymoron?? ;-) ;) :wink: )
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Re: Wait... is Obama from Texas???

Unread postby Erie Warrior » Fri Apr 09, 2010 8:20 am

I'm certainly not happy with lifting the ban on off-shore drilling. I understand why it was done, I just don't see it as a sustainable venture. It may drop prices in the short term, but there's not a lot of oil (more natural gas) off the Virginia coast. The tar balls and waste water will certainly ruin my beaches and salt marshes, so I got that going for me.

I did my part to stimulate the economy, so now it's a waiting game. Everything I've read recently is pointing to a rebound, but Swerb's right about the unemployment, I think it will stay high for a while longer. There just isn't a lot of product manufactured in the US anymore. People got greedy and outsourced a lot of work. This is the result.

The Fed needs to take hit on those mortgages and get them sold. A lot of first time home buyers don't realize how much it takes to actually buy a house. You can do the math to figure out the monthly payments, but closing costs and down payments require a lot of initial capital. If they could take that 8K tax credit and get it to the buyers early in the process, that would get the housing market rolling, increase tax revenue and retail sales as well.

It sucks to save money for a few years to get the 3.5% down payment for mortgage, just to realize that you need an additional 5K to close.

EDIT: http://money.cnn.com/2010/04/02/news/ec ... tm?cnn=yes
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