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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (389295)	6/6/2008 7:32:08 PM
From: combjelly	Read Replies (1) of 1574724

"The current administration has ZERO control over ANY of these items. " Not true. A lot of the precariousness right now is because so much of the securities industry has operated with no regulation what so ever. None. They don't even have to keep records. So there is no way to figure out how bad the problem is. While the lack of regulation started in 2000, the problem has mushroomed to the point to where the majority of securities traded fall in that category now. en.wikipedia.org So, while Clinton signed the thing, the problem has been systematically ignored ever since. That, and the deficits are the reason for the weak dollar. High gas prices are because of high oil prices. One of the big factors in the high price of oil is the uncertainty because of the Iraq war. Before the war, Iraq was producing about 2.5 million barrels per day. That was wiped out when the war started. Despite hopes, production has only recently gotten into the same ball park. Taking 2 million barrels a day off line for an extended period brought in the speculators. And they pushed the price up from there. A big factor in the recent rise has to do with the growing certainty that Iran will be attacked. If that were to happen, the Strait of Hormuz gets shut down. To say they had ZERO control (your caps, not mine) shows a basic lack of understanding of the situation. Is it all their fault? No. But there was no way their ideology would even recognize the wall of the credit crisis, much less do anything about it. They, and the Republicans in Congress were content to ignore the situation and torpedo any attempt to reign the problem in before it blew up because "regulations interfere with the smooth operations of the market".

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