If government doesn't cut drastic boost of Gas prices, Harvey may trigger another Great Recession.

a reply to: The angel of light

In a free market, the government doesnt set the price of commodities.

And because of Bretton Woods, the world's commodities are priced in and are a reflection of the US dollar's strength.

Although many people believe that commodity prices and the dollar's value are manipulated by the banksters.

a reply to: gladtobehere

Although many people believe that commodity prices and the dollar's value are manipulated by the banksters.

You don't? Every market is manipulated not just commodities.

a reply to: olaru12

When regulations are loose or lacking, as it was the case during the G.W. Bush era before the great recession arrived , as well as, during the years of Calvin Coolidge in the white house preceding the great depression, speculation was always a phenomenon that occurred without control.

please check:
www.bbc.co.uk...

www.great-depression-facts.com...

During many periods immediately before huge crises, specially in wall street, it has been unfortunately very common.

The Angel of Lightness

originally posted by: The angel of light
a reply to: olaru12

When regulations are loose or lacking, as it was the case during the G.W. Bush era before the great recession arrived , as well as, during the years of Calvin Coolidge in the white house preceding the great depression, speculation was always a phenomenon that occurred without control.

please check:
www.bbc.co.uk...

www.great-depression-facts.com...

During many periods immediately before huge crises, specially in wall street, it has been unfortunately very common.

The Angel of Lightness

Nowhere in your links does it say fuel prices were the cause of the Great Depression in 1929.

Unless you're going off on a tangent to avoid the fact you're wrong about the 2008 depression.

Yes but something triggered mortgage defaults out on mainstreet in order to secondarily collapse Wallstreets credit default swap house of cards.

This OP fits with my recollection of events quite well.

Energy prices were stick broke camels back, credit default swap was one of many consequences following problems out on mainstreet.

20/20 hindsight shows we'd been far better off bailing out main street instead wallstreet.

The increase of gas prices from this Hurricane are supposed to only last two to four weeks till the refineries get back on line. This is not what caused the last crash, that was speculation gone crazy. People buying oil then selling it back to the oil refineries. It was a legal way of raping the people. I think the government passed some legislation to control that, but I have not been able to find it. There was a real lots of money made in speculation for a while, they would double the price of a barrel of oil without even touching it. The CEOs made money in speculation too.

Isn't it funny every time there is a storm or a disaster it's where all the oil is being bought?wth Calif has largest oil reserves in the world,yet no one buys their gas,or other oil producing states?,what a damn joke

The 08 recession was more then just high gas prices. What the banks were doing is what caused it. Gambling with the housing market. Then what we do. Like feeding an addict we gave them more...a lot more.

This hurricane is going to hurt but we will make it. We always have. And always will. So don't worry to much. We got this.

a reply to: jkm1864

I'm assuming you think we were at 40% unemployment at one point. Which may be true of some of the small and poor cities whose populations are only in the thousands. Only problem being that if the national average was really 40% that would be much worse than the percentage we hit during the great depression when there was only 90 million people.

a reply to: Oldtimer2

Well Dear Oldtimer2,

First, it is true that Katrina also had something to do with the oil in 2004, but not with refineries, mainly with platforms of extraction off shore in the gulf, so the impact was not as determinant or important as Harvey by sure will have.

Second, I want to be clear that you were the one that mentioned California in this thread, not me, but with respect to that I have been warning that I expect a really strong and important seismic event in the San Andreas fault to occur in Between March and September of the 2018.

I believe we are approaching at incredibly fast pace toward the Big one, but I am not sure that it will come lonely, it may have been preceded by other strong earthquakes and by sure it will be followed by many aftershocks.

How do I know that? well I have some psychic abilities that in the past have proven to be very accurate to foresee natural disasters, including the Harvey, IKE and Sandy Hurricanes, Japan earthquake of 2015, the 2008 Volcanic Eruptions in Okmok and Kasatochi, Alaska, the 2012 Charlotte island Earthquake, East Waterboro quake of 2012 in Maine, Chino hills earthquake in California 2008 , Tonga seaquake 2007, Guerrero in Mexico 2007.

Pls check:
a reply to: Paranormalility commenting achieved earthquake prediction of the Angel of Lightness

Californians must be aware that to don't have insurances already taken that protect of losses by natural disasters is insane, as well as, to don't have already designed emergency contingency plans to affront a major catastrophe.

What this Trump administration has done through an executive order to overthrown the improvements in construction codes approved by the Obama administration to affront floods will have devastating consequences when the big one arrives to California, there will be by sure responsibility for omission and probably liability for negligence in to have taken such decision.

Pls Check
www.nydailynews.com...

www.businessinsider.com...

www.nytimes.com...

If the President thinks that he has his administration in siege due to the HackersGate, the involvement with the Russian manipulation of the 2016 election, I must warn that such an issue is a children game in comparison with the kind of scandal that this executive order may trigger when the incoming event in California arrives.

Third, it is so premature to say that this Harvey hurricane is not really going to mess the economy, there are still floods everywhere in the coast of Texas and the rains have not yet stopped, so the reconstruction of the damaged infrastructure can not be started to be repaired.

Also who is going to cover all that cost? Texas is a State that is practically tax exempt, so the State does not have resources to use in emergencies like this one, the private gas companies need the support of the insurance companies, and it is clear that the last ones will be overwhelmed by the amount of claims, that are not just the refinery losses, but all the destruction occurred in the State in terms of Highways, housing, business buildings, cars, etc.

Thanks,

The Angel of Lightness