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White House Comments On Surging Gasoline Prices

Tyler Durden's picture




 

Just when we thought that when it comes to nonsensical announcements Europe is second to none, here comes the White House and takes the cake:

  • WHITE HOUSE SAYS RISE IN GASOLINE PRICES CAUSED BY VARIETY OF GLOBAL FACTORS, INCLUDING UNREST IN SOME PARTS OF WORLD, FAST GROWTH IN OTHERS - RTRS

Uhm, would the "unrestful" parts of the world be those that have an above average US drone presence. At least we know that said price surges have nothing to do with the following chart:

As a reminder, we did note over the weekend that inflation is about to become the biggest concern of "investors" everywhere:

Oddly enough, one very crucial item missing is once again surging inflation courtesy of trillions in stealthy central banks reliquification, sending crude to the highest since May 2011, and the most expensive gas price in January on record.

Sure enough...

Rising U.S. gas prices have been fueled by a number of factors in world markets, including unrest and rapid growth in emerging markets, the White House said on Tuesday.

 

White House spokesman Jay Carney said recent increases in gasoline prices were "clearly the effect of a variety of factors on the global price of oil," including unrest in some parts of the world and economic growth in countries including India and China.

 

"The fact that this is happening only underscores the need ... to have a comprehensive energy policy," Carney told reporters.

 

U.S. gasoline prices jumped in January, leading overall consumer prices higher and offering a reminder of the risks energy costs pose to the economic recovery.

 

After rising throughout January, the national price for regular unleaded gasoline in the United States rose to $3.58 a gallon in the week through last Monday, according to the Energy Information Administration. It had started the year around $3.32 a gallon.

The people demand more Solyndras!!!

 

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Tue, 02/21/2012 - 14:52 | 2181615 Let The Wurlitz...
Let The Wurlitzer Play's picture

Dont forget to blame George Bush.

 

Tue, 02/21/2012 - 15:03 | 2181652 SilverIsKing
SilverIsKing's picture

Not only are the balance sheets growing in absolute terms but their rate of growth is going parabolic as well.  In other words, we've already jumped out of the plane and tried the chute...it didn't open...tried the safety...it didn't open either...LOOK OUT BELOW!!!

 

?????GOLD?????

Tue, 02/21/2012 - 15:06 | 2181661 Leopold B. Scotch
Leopold B. Scotch's picture

It was the Ewoks.  The Ewoks did it.

Tue, 02/21/2012 - 15:09 | 2181678 BLOTTO
BLOTTO's picture

Mad Max time.

We are going to be driving around in our GMs, Ford... Honda's and Toyota's looking for gasoline.

Tue, 02/21/2012 - 15:11 | 2181684 Smiley
Smiley's picture

Dibs on the midget who knows how to distill pig shit!!!

Tue, 02/21/2012 - 15:18 | 2181704 redpill
redpill's picture

Well if it's just a matter of unrest, why don't they take a nap?

 

AND ZEN FIRE ZEE MISSILES!

http://www.youtube.com/watch?v=84Ud3V9NPw8

Tue, 02/21/2012 - 15:35 | 2181797 whstlblwr
whstlblwr's picture

Surging gas prices from Bernanke printing press, they leave that out of the news. We are such dumb Americans we believe everything the news tells us. LOL. Fucking wake up status quo, you're losing it. This helps Ron Paul win.

Tue, 02/21/2012 - 15:43 | 2181841 BW
BW's picture

Ron Paul is going to win. 

Tue, 02/21/2012 - 15:56 | 2181867 whstlblwr
whstlblwr's picture

Not if we don't stop them from rigging the election. Voters have to stay behind and take a video of the results before it goes for collection.

Paul has huge rally, twice as many people come to see him than Romney or Santorum. There is veteran march in DC with at least 2000 who come, even after military sends out warning to not participate. Only one MSM news reports it and reports it as "hundreds."

Any idiot voting for Santorum is wasting your vote, if Santorum wins GOP, then Obama wins general. It's what the status quo wants.

Tue, 02/21/2012 - 16:14 | 2181939 TruthInSunshine
TruthInSunshine's picture

Obama's Ministry of Truth has said that they have formally requested that The Bernank increase the daily rations of interest free Federal Reserve Notes distributed to the commodity trading floors of 'evil speculator' institutions with which they can gamble (but risk free gambling thanks to taxpayers backstoppping) on commodity speculation, including oil futures, so as to try and ease the price of gasoline and heating oil (and nearly everything else).

In other words, only by doing more of what has significantly contributed to the dramatic rise in oil/gas prices can help ease this situation (but it will actually only make it worse) although Obama will blah blah blah about "evil speculators" (that he and his administration have empowered) as he prays that the equity markets don't crash prior to November 2nd.

And hey look, everyone, the BOE is going Full Bernank Retard, too:

02-21 14:59: BoE's Bean says QE boosts asset prices and encourages spending

 

You see. If you make things more expensive to purchase, you increase spending. It's not as if this runs contrary to the most (and one of the few accurate) fundamental laws of economics.

Tue, 02/21/2012 - 17:07 | 2182026 Pinto Currency
Pinto Currency's picture

 

 

Gideon Gono similarly found rising prices were caused by strong growth in surrounding countries and, yes, it led people to save less.

 

Perhaps the Bernank should check with Dr. Gono (also known as No-go) as to how well that worked out.

 

http://www.newzimbabwe.com/pages/gono11.12660.html

 

 

 

 

Tue, 02/21/2012 - 19:37 | 2182660 Conrad Murray
Conrad Murray's picture

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe"($6-$8/gal) - Barry O'Dumbo's Energy Secretary, Steven Chu

O-BA-MA! O-BA-MA! O-BA-MA!

Wed, 02/22/2012 - 01:14 | 2183440 Dead Canary
Dead Canary's picture

I'm off to my local caucus to try to became a delagate on the third. Anybody here jumping in?  It's all well an good to talk about RP but we need boots in the trenches people.

Tue, 02/21/2012 - 15:45 | 2181850 General Decline
General Decline's picture

What energy source do you use to compress the air?

Tue, 02/21/2012 - 15:18 | 2181709 knightowl77
knightowl77's picture

I need one of those

Tue, 02/21/2012 - 20:13 | 2182794 TruthInSunshine
TruthInSunshine's picture

Whatever became of this?:

 

 

Japanese Company Invents Water Fueled Car
Wed, 02/22/2012 - 01:01 | 2183492 Dead Canary
Dead Canary's picture

This technology was superseded by the motorcycle that runs on unicorn piss! PA-LEEZE!

Tue, 02/21/2012 - 15:19 | 2181714 kito
kito's picture

compressed air vehicles bitchezzzzzzzz.......

 

http://www.gizmag.com/compressed-air-car-set-for-us-launch-in-2010/8896/

Tue, 02/21/2012 - 15:22 | 2181726 redpill
redpill's picture

Must be some serious PSI...I wonder what happens to the little plastic car when the tank gets punctured in an accident

Tue, 02/21/2012 - 15:31 | 2181772 Matt
Matt's picture

Carbon-fibre reinforced plastic tanks don't explode the way steel ones do when compromised; hopefully that is the way they are going.

Tue, 02/21/2012 - 15:35 | 2181801 redpill
redpill's picture

I hope so, or it will be "tata!"

Tue, 02/21/2012 - 16:31 | 2182025 trav7777
trav7777's picture

the air leaks out if the tank is punctured...what did you think would happen?

compressed air as a kinetic energy reclamation mechanism isn't actually all that new

Tue, 02/21/2012 - 18:08 | 2182450 Matt
Matt's picture

With a common steel air tank, if the valve stem gets sheared off, the tank becomes a projectile that can punch thru a cement wall.

http://www.youtube.com/watch?v=ejEJGNLTo84

Tue, 02/21/2012 - 20:03 | 2182768 Common_Cents22
Common_Cents22's picture

A sheared tank would give a nice 0-60mph rating.

Tue, 02/21/2012 - 22:34 | 2183151 superflyguy
superflyguy's picture

vehicle A

0-60 - 6sec

with a sheared tank - 3 sec*

 

 

* DIRECTION OF MOVEMENT MAY VARY

 

Tue, 02/21/2012 - 15:32 | 2181783 kito
kito's picture

@redpill---hindenburg bitchezzz.....

Tue, 02/21/2012 - 18:16 | 2182474 Matt
Matt's picture

compressed air is NOT Hydrogen gas. see above for MythBusters example of air tank with sheared off valve stem. With a steel tank, if the metal gets punctured, it could make ALOT of shrapnel.

I'm pretty sure the risk of shrapnel is removed by using carbon fibre reinfocred plastic tanks, but the valve stem shearing issue would need something else, like safety vents on the tank to vent the air thru multiple holes to prevent directional thrust, and to reduce the thrust.

Tue, 02/21/2012 - 15:26 | 2181746 Matt
Matt's picture

So what you are saying is, more Coal power plants?

I'm guessing they meant 100+ MPG cars, not 100+ MPH cars.

Tue, 02/21/2012 - 15:36 | 2181812 John Law Lives
John Law Lives's picture

"I'm guessing they meant 100+ MPG cars, not 100+ MPH cars."

Probably so.  Cars that travel 100+ MPH have a nasty habit of running into fixed objects... like a Kentucky Fried Chicken store in Washington D.C.

http://www.dailymail.co.uk/news/article-2104381/One-dead-injured-woman-c...

Tue, 02/21/2012 - 17:31 | 2182335 pods
pods's picture

For the stereotype of the day read the article as to which road the BMW careened off.

pods

Tue, 02/21/2012 - 19:56 | 2182744 Moe Howard
Moe Howard's picture

All roads are going to be named that. I just saw that I65 Louisville is called that. Coming soon to all the streets near you.

Tue, 02/21/2012 - 18:20 | 2182485 Matt
Matt's picture

The driver being drunk and not buckled are bigger factors in her death than going 100 MPH, although if she was on a Big Wheels doing 5 MPH she likely would have been fine, so it is still a factor.

Tue, 02/21/2012 - 16:05 | 2181930 AnAnonymous
AnAnonymous's picture

Written in 2008, to be launched in 2010...

If you have not seen by now a US citizen banker drive around with that, in spite of all bonuses...

Tue, 02/21/2012 - 16:17 | 2181971 Hobbleknee
Hobbleknee's picture

According to the article, which was written in 2008, they were supposed to hit the streets in 2010.  It's 2012, so where are they?

Tue, 02/21/2012 - 16:59 | 2182167 aerojet
aerojet's picture

They're being stored in the same warehouse that the government stores the Ark of the Covenant.  Right down the aisle are the light bulbs that last 100 years.

Wed, 02/22/2012 - 00:32 | 2183413 The Navigator
The Navigator's picture

The website for Zero Pollution http://zeropollutionmotors.us/ (the distribuor for those cars) is a dead link - Solyndra-ized?

Tue, 02/21/2012 - 15:33 | 2181786 SheepDog-One
SheepDog-One's picture

Watch out for those biker fags in assless jeans there BLOTTO!

Tue, 02/21/2012 - 16:56 | 2182155 j0nx
j0nx's picture

Yes, elst you end up as that skinny blonde catamite on the back of bennett's (from commando) bike in mad max.

Tue, 02/21/2012 - 15:41 | 2181831 DCFusor
DCFusor's picture

Yeah, driving my solar-charged Volt around to find gas for my chainsaw and tractor, that's it.  Solar panels and electric cars, bitchez!  (and oh yeah, don't forget the shiny)

Actually, those electric chainsaws work pretty well if you can bring a power source near enough...mine does, anyway.  It'll run off an inverter I installed in the Volt, or a 98 cc honda generator/inverter - not much gas used per tree in the latter, and a lot quieter.

 

Tue, 02/21/2012 - 16:40 | 2182080 trav7777
trav7777's picture

you just committed sacrilege talking about using a fkin electric chainsaw...your man card is hereby revoked

Tue, 02/21/2012 - 17:01 | 2182177 aerojet
aerojet's picture

Electric motors can produce a shitload of torque.

Tue, 02/21/2012 - 23:27 | 2183267 Taint Boil
Taint Boil's picture

Here's a V8 powered chainsaw link

Tue, 02/21/2012 - 18:24 | 2182491 Matt
Matt's picture

Using a gasoline powered electric generator to power an electric chainsaw?! That's the height of efficiency right there.

Tue, 02/21/2012 - 20:29 | 2182847 PrintPressPimpin
PrintPressPimpin's picture

I cut trees for a living and the only time i have ever seen an arborist grab an electric chainsaw was during a demonstration where they brought a huge tree trunk indoors to showcase climbing techniques. Electric chainsaws are not a viable substitute to a a large saw or a climbing saw. On my land i have 50 gallons of gas i rotate and mix oil for all of it just for my saws just in case.  Gas powered chainsaws have my vote as one of mankinds best work and time saving inventions ever. running a generator to power a saw has got to be very inefficient compared to using that same amount of gas in a powerhead

Tue, 02/21/2012 - 16:01 | 2181921 The Big Ching-aso
The Big Ching-aso's picture

 

 

The idea of a giant bald guy holding chains in ass chaps chasing me down does not appeal to moi.

 

Tue, 02/21/2012 - 16:14 | 2181965 BLOTTO
BLOTTO's picture

lol.

It sure is a scary thought though.

However, that would be the 1st guy to get the bullet - the giant bald headed leader fuck.lol.

Tue, 02/21/2012 - 17:04 | 2182195 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

Screw you guys, I've got the last of the V8 Interceptors!

 

(Actually, got a Volt, 5600mi in less than 19 gallons, bitchez!)

Tue, 02/21/2012 - 18:56 | 2182568 Miffed Microbio...
Miffed Microbiologist's picture

Hmmm, drove 1000 miles in my Nissan Leaf for 27 dollars. At least that's what it costs when my solar panels are at peak efficiency.

Tue, 02/21/2012 - 18:02 | 2182431 Chief KnocAHoma
Chief KnocAHoma's picture

"We are going to be driving around in our GMs, Ford... Honda's and Toyota's looking for gasoline."

And we will be towing them behind horses. Might be a good time to reopen that buggy whip factory.

 

Tue, 02/21/2012 - 16:13 | 2181957 jwoop66
jwoop66's picture

you mean the jewish ones, right?

Tue, 02/21/2012 - 16:39 | 2182074 jekyll island
jekyll island's picture

Please tell me why I should care that the White House released a statement about the cost of gasoline?  Or for that matter, why the WH should care if health care plans don't cover oral contraceptives?  

Tue, 02/21/2012 - 18:45 | 2182535 GeezerGeek
GeezerGeek's picture

The WH cares about the price of gasoline because Candidate Zero said he wanted to make our energy more expensive, so they have to monitor it.

The WH cares about health care plans covering contraceptives because they a) want to control everything, and b) because the next step is to make contraception mandatory if you didn't graduate from an Ivy League college or university. Unless you're here in the U.S. illegally, in which case you can have an anchor baby or two.

Tue, 02/21/2012 - 18:10 | 2182455 Id fight Gandhi
Id fight Gandhi's picture

Wasn't gas under $1.90! When Obama took orifice?

Tue, 02/21/2012 - 20:13 | 2182800 Common_Cents22
Common_Cents22's picture

Yep,  but obama is only half done, thats why he needs a second term.  He wants gasoline at Euro prices  8-10 bucks a gallon.   4 more years!

Tue, 02/21/2012 - 22:05 | 2183111 Seer
Seer's picture

Actually, as someone NOT found of govt, I think he did a wonderful job.  Massive debt due to illegal wars abroad and for starting the bankster revolt.  Perfect storm started by the ex-Yale cheerleader!  Go Team!

Tue, 02/21/2012 - 14:53 | 2181616 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Inflation and it's going to backfire soon.

Tue, 02/21/2012 - 15:34 | 2181792 Clueless Economist
Clueless Economist's picture

Damn you Bush, Cheney, and Halliburton.

We need to have another stimulus, only this time make it big enough to work, like say $5 Trillion.

This will lead to millions of shovel ready jobs and break the back of BIG OIL.  Gasoline prices will drop as will Unemployment.

"The only solution to the debt problem, is more debt"

P. Krugman

Nobel Winner

Economist

Professor

NY Times Blogger

Ivy Leaguer

Genius

and All-Around Douchebag

Tue, 02/21/2012 - 16:42 | 2182088 Pinto Currency
Pinto Currency's picture

 

There is no Nobel Prize for economics.

It is a prize given out by the Swedish Central Bank in honour of Alfred Nobel. 

 

https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences

 

Your odds of winning are increased these days if you are a money printing fan.

Tue, 02/21/2012 - 21:04 | 2182973 unununium
unununium's picture

Wow.  Thank you.

I had no idea!

Now Krugman's prize makes every bit as much sense as Ben Bernanke's appointment.  Biggest value to the purveyors of the monetary status quo.

Tue, 02/21/2012 - 18:48 | 2182543 GeezerGeek
GeezerGeek's picture

The only shovel-ready job I'd like is digging graves for all the idiots, usually identified as having a 'D' or 'R' after their names, that got us into this mess. I'd come out of retirement for that opportunity.

Tue, 02/21/2012 - 22:06 | 2183114 Seer
Seer's picture

Well... for everyone who thinks/believes that "growth" is the answer.  For all, this track WILL lead us to the grave...

Tue, 02/21/2012 - 22:17 | 2183127 NoClueSneaker
NoClueSneaker's picture

E.T. connaisseur ....

... and freaking humanist praying for an Armmageddon to boost his Keynesian Recovery ®

He should start singing with McCain & Netanyahu in harmony:

 

BOMB_BOMB_BOMB.... BOMB_BOMB_ IRAN ...

( two bricks to crush his balls to give him an nice soprano ... )

___________________________________________________

How about easing the gun permits in NJ ?

 

Tue, 02/21/2012 - 15:48 | 2181865 vato poco
vato poco's picture

OK, maybe y'all can help a brother out here. It seems to be the position of ZH and its rabid legion of commenters that a) Obama and his puppet The Fed (or vice versa) is manipulating the stock market by various nefarious maens, and b) Goldman & JPM and all the rest of TPTB are suppressing the "true" price pf gold and silver via CFTC shenanigans and naked shorting and that bitch Blythe who knows what else.

Presumably, all this is done for political gain. Or the gain of Warren Buffett and the Rothschilds and the Freemasons and the sinister 1%. And they're basically the same reason: to prop up the fiction that fiat currnecy is just as good as real money. So they - TPTB - can snap up _all_ the hard assets and he - Jam Master Barry - can win re-election before TSHTF. That about cover it?

So now everybody and his brother "knows" oil is going to $150, gas is going to $5, blah blah blah....which would seem to be counter to the immediate interests of TPTB and BHO. If "they" can manipulate worldwide stock markets, and "they" can manipulate the worldwide price of PM's, which must be *pretty hard* to do....why can't they suppress the price of oil in an election year?

Tue, 02/21/2012 - 16:00 | 2181915 astroloungers
astroloungers's picture

from the guy that said we need $5 a gallon gas....?  more like making good on a promise.

Tue, 02/21/2012 - 16:13 | 2181945 chistletoe
chistletoe's picture

"why can't they suppress the price of oil in an election year?"

 

"they" can ...

 

the thing is, the higher and faster that prices go up now,

the quicker and deeper that they can drop them back down ...

and american voters have terrifically short memories....

wait til around September and then they will announce an emergency and release a few barrels from the strategic reserve ... and Jamie Dimon will add to it by bringing one or two of his extra tankers into port ....

 

the americans will be so bloody thankful ....

 

Tue, 02/21/2012 - 16:22 | 2181994 NotApplicable
NotApplicable's picture

Rachets, FTW!

Tue, 02/21/2012 - 16:21 | 2181989 ElvisDog
ElvisDog's picture

The answer is quite simple. The main purpose of recent Fed monetization is to keep interest rates low and fund the U.S. federal budget deficit. However, that same monetization is causing oil prices to rise. The Fed/Obama administration can't have it both ways. The only other way to cause a drop in oil prices without letting interest rates rise to their equilibrium level would be through demand destruction, but that implies a nasty recession, which wouldn't be good for Obama in 2012.

Tue, 02/21/2012 - 18:06 | 2182444 Chief KnocAHoma
Chief KnocAHoma's picture

DING DING DING .... winner winner chicken dinner!

That Elvis is one smart dog.

 

Tue, 02/21/2012 - 19:59 | 2182759 Moe Howard
Moe Howard's picture

We already have demand destruction, no workee no drivee.

Amerians using the same amount of gas as 2003.

Tue, 02/21/2012 - 16:34 | 2182044 Village Smithy
Village Smithy's picture

You haven't read enough ZH if you don't realize that TPTB don't care who is President, it doesn't matter, both parties are puppets.

Tue, 02/21/2012 - 22:26 | 2183139 NoClueSneaker
NoClueSneaker's picture

The boost of simple solutions fer the TPTB in €U is even greater. The crooks that fuck 500 MM ppl. in the arse r cheaper, and the sheeple don't have guns ...

Camo is much better, all the colours you can imagine, all the same shit ....

Tue, 02/21/2012 - 17:22 | 2182296 poor fella
poor fella's picture

I'm thinking oil at these levels is EXACTLY what Wall $treet and TPTB want - at these prices, all the petrol alternatives are in play. Tar sands and shale are F'ing dead in the water with oil at 60$.. Americans are slowly being acclimated to accept high energy, zero growth, temp jobs, low wages,sack lunches, and home cooked meals. Last time high oil caused Main Street finances to fall off a CLIFF, and oil went down - the current economic state is 'acceptable' due to transfer payments, food stamps, and OWS taking a winter break. This is a managed collapse. Normally one would expect oil market weakness and you can bet China is NOT HAPPY subsidizing gas at these levels. Peak oil is real, but when have market 'investors' had enough foresight to look out 5-10 years?!?! (it's not in the HFT programming).

Pretty soon the double-dip (or Great Depression v2 leveling off) is going to be impossible to mask.. The economic engine is broken yet the Fed keeps adding gas - Their 'PhD' curiosity is going to get the better of them and central banks are going to print like $%^&* to prove their thesis - in effect looking into the gas tank with a match.

Just because all those a-holes you mention are trying to take the whole pot - doesn't mean they're always successful. Besides the G20s, G7s, and Sunday-night solutions you can bet these fucknuts are on each other's speed dials in one massive collusion-circle-jerk of incestuous greed and santorum.

Tue, 02/21/2012 - 22:02 | 2183108 NoClueSneaker
NoClueSneaker's picture

Cause they're flat broke, and single "bussiness" is a fuckin' fraud.

 

BTW: Gasoline price has absolute nothing to do with 6 months cornering of the brent, and Carlyle Group expansion of a BS. ( Libya, greets to half brother of french Göbbels sitting on the board of directors of CIA & Saudi pigs hedge fund ).

Actually, everything is broken, and according to the industrial production decrease, crude should cost about $82 a barrel, worldwide.

Me no clue, but I've red the screenplay and live it 32 years ago, when our world dissappeared, thanks to Reagan and the fundamental borderliners ...

Schadenfreude long, bitcheZZ !!!!!! Feel the luv ....

 

Tue, 02/21/2012 - 22:24 | 2183136 Seer
Seer's picture

It's not DIRECTION that's important, it's getting the JUMP, the INSIDE INFORMATION that is key.

I'd think that those who have a handle on all of this KNOW that if they crush demand too much (increasing unemployment and increases in other KEY stuff, like FOOD) that people aren't going to be able to keep those prices held up there.

Tue, 02/21/2012 - 14:55 | 2181619 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

WH admits they are a sock puppet, and would like to invite all of America over for some burgers and cake.

Tue, 02/21/2012 - 15:02 | 2181645 AL_SWEARENGEN
AL_SWEARENGEN's picture

White house spokesman Carney... nuff said..

Tue, 02/21/2012 - 15:06 | 2181660 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They should give him a clown car and a bear suit and one of those funny hats the bears wear.

Tue, 02/21/2012 - 15:37 | 2181808 Shitters_Full
Shitters_Full's picture

And pixie dust.  Lots and lots of pixie dust to spread around the global Tilt-A-Whirl we're calling the economy.

PS

Swearengen - every one of your posts should end with 'cocksuckerz' in place of the usual ZH 'bitchez'.  Just my two bits.

Tue, 02/21/2012 - 17:43 | 2182372 AL_SWEARENGEN
AL_SWEARENGEN's picture

Done and done you cocksucker(z)!

Tue, 02/21/2012 - 15:59 | 2181911 SilverFocker
SilverFocker's picture

Give the bear a break. At least he trys to prevent the burning beforehand.

Tue, 02/21/2012 - 16:36 | 2182056 pods
pods's picture

You talking about the forest fire one?

Or the hundreds of them that congregate outside of the "Cash for Gold" joints?

pods

Tue, 02/21/2012 - 18:55 | 2182561 GeezerGeek
GeezerGeek's picture

There are only one or two at a time lined up at the "Cash for Acapulco Gold" joint. Or was it "Acapulco Gold joint for Cash"? I'm a bit confused right now, but I don't care.

Tue, 02/21/2012 - 15:10 | 2181679 azzhatter
azzhatter's picture

I always find it interesting that the white house spokesman is named Carney. How appropriate

Tue, 02/21/2012 - 15:21 | 2181723 Terminus C
Terminus C's picture

Yea well, Canada can one up you 'Merikan types.

Carney is the name of our head central banker.  Carney's runnin the bank... sounds about right.

Tue, 02/21/2012 - 15:39 | 2181824 Mark Carney
Mark Carney's picture

OH HAI!

 

Sorry, just got off the phone with The Bernak, seems as though we  missed the Ctrl +P seminar, so was getting caught up to speed.  i guess we've fallen behind in the race.

Tue, 02/21/2012 - 16:11 | 2181952 johnQpublic
johnQpublic's picture

more appropriate still, if his name was asshat.....i notice you are channeling him in some way...

Tue, 02/21/2012 - 15:32 | 2181781 redpill
redpill's picture

Carneys. Circus folk. Nomads, you know. Smell like cabbage.

Tue, 02/21/2012 - 15:33 | 2181791 SheepDog-One
SheepDog-One's picture

Small hands.

Tue, 02/21/2012 - 14:57 | 2181621 Leopold B. Scotch
Leopold B. Scotch's picture

stir, crush, chop, mix, puree, liquify.

Tue, 02/21/2012 - 14:54 | 2181624 Dr. Engali
Dr. Engali's picture

I blame swamp people.

Tue, 02/21/2012 - 14:54 | 2181625 VelvetHog
VelvetHog's picture

The Idiot Son did this!  (happy now?)

Tue, 02/21/2012 - 14:55 | 2181626 carguym14
carguym14's picture

Hopefully the high gas prices don't put a damper on the recovery!!

 

/sarc

Tue, 02/21/2012 - 14:56 | 2181628 The Big Ching-aso
The Big Ching-aso's picture

 

 

"How many fingers, Winston?"

Tue, 02/21/2012 - 14:57 | 2181629 Zymurguy
Zymurguy's picture

It's the Inflation stupid!!!

Tue, 02/21/2012 - 14:57 | 2181630 Scotch-n-Soda
Scotch-n-Soda's picture

In other words, don't blame us, it's everyone elses fault, including the Ewings of South Fork!

Tue, 02/21/2012 - 14:57 | 2181631 silverbullion
silverbullion's picture

A weak Dollar due to quantitative easing (QE)  and messing with Iran are the main culprits... the U.S. Government is ultimately responsible for the state of affairs.

Tue, 02/21/2012 - 15:13 | 2181690 bigdumbnugly
bigdumbnugly's picture

hey cut that out!  and who do you think you are?

an authority says otherwise.

Tue, 02/21/2012 - 15:14 | 2181694 scatterbrains
scatterbrains's picture

Is this what the birth of a baby crack up boom looks like ?

http://fiatflaws.blogspot.com/2012/02/uga-vs-tlt.html

Tue, 02/21/2012 - 18:59 | 2182576 GeezerGeek
GeezerGeek's picture

Looks like a diagram of a pincer movement to me.

Tue, 02/21/2012 - 15:15 | 2181696 CrashisOptimistic
CrashisOptimistic's picture

Coolaid.

The oil price spike of 2008 was before Quantitative Ease entered the lexicon.

Tue, 02/21/2012 - 15:47 | 2181839 Nigh Eve
Nigh Eve's picture

Although your statement is factually correct, it is not applicable here.

In the year 2008, "monetary velocity" was higher than it is today.   Thus, a smaller money supply (vs today) was still sufficient to allow excessive inflation in 2008.

http://en.wikipedia.org/wiki/Quantity_theory_of_money

http://en.wikipedia.org/wiki/Velocity_of_money

http://en.wikipedia.org/wiki/Equation_of_exchange 

http://seekingalpha.com/article/315789-monetary-velocity-and-dollar-hoarding

http://seekingalpha.com/article/249686-money-velocity-is-a-key-to-potential-inflation

 

Tue, 02/21/2012 - 15:47 | 2181858 Flakmeister
Flakmeister's picture

Don't confuse them with facts....

In fact the dollar is up substantially since the summer of '08...

It is Euro-zone that is getting crushed this time... for them oil is a record high (in Euros)

 

Tue, 02/21/2012 - 19:01 | 2182582 GeezerGeek
GeezerGeek's picture

"In fact the dollar is up substantially since the summer of '08..."

Against what? The POG? Hopium?

Tue, 02/21/2012 - 19:38 | 2182661 Flakmeister
Flakmeister's picture

Against other fiat (with some minor exceptions)....

Tue, 02/21/2012 - 20:22 | 2182824 Common_Cents22
Common_Cents22's picture

Wonder if the bernank drives a Fiat?

Tue, 02/21/2012 - 16:33 | 2182038 myshadow
myshadow's picture

Refining, or the lack there of is another.  We had a refinery fire here in WA state, and our prices have spiked 15 cents in a week.

There is China and India inhaling what we aren't using plus the innane sabrerattleing between israel and iran and you have another reason for the speculating sharks to jack things up.

Tue, 02/21/2012 - 15:00 | 2181633 Smiley
Smiley's picture

Don't worry, Obama will pass out no limit gas cards to everyone but white taxpayers and all will be well in the magical Land of Rainbows and Unicorns!

Tue, 02/21/2012 - 16:31 | 2181978 Hobbleknee
Hobbleknee's picture

You mean painbows and screwnicorns.

Tue, 02/21/2012 - 16:43 | 2182092 francis_sawyer
francis_sawyer's picture

Peggy Joseph called to say she is doing fine...

Obama is still paying her gas & mortgage...

Tue, 02/21/2012 - 18:11 | 2182458 quasimodo
quasimodo's picture

She is one stupid, brainwashed two holer. That video will come back to haunt her some day. Dumb c-nt

Tue, 02/21/2012 - 21:49 | 2183087 gtb
gtb's picture

C'mon, be serious...she's so stupid she doesn't know the meaning of the word haunt.

Tue, 02/21/2012 - 20:23 | 2182829 Common_Cents22
Common_Cents22's picture

Actually Obama hurt the poor w/ cash for clunkers.  Destroying perfectly good cars for people to go to work.  Taking used car supply off the market, raising cost of transportation.  Oh yeah, move to city government housing and take the train and shut up.

Tue, 02/21/2012 - 23:33 | 2183280 Seer
Seer's picture

DING, DING!  We have a winner!

That fucking money went right to the banks via the car dealers.  Car execs and bank execs got their inordinately large share because, well, they're having a tough time and all having to hack bodies... shrink time is expensive these days...

Stupid fucks who think that all this shit is going to the poor.  No different than the bastards that are bilking everyone.  May you all land in an exceedingly warm place in your (permanent) retirement.

Tue, 02/21/2012 - 14:58 | 2181634 Dick Darlington
Dick Darlington's picture

DICK DARLINGTON SAYS RISE IN GASOLINE PRICES CAUSED BY
VARIETY OF GLOBAL FACTORS, INCLUDING UNREST IN SOME PARTS OF WORLD BALANCE SHEETS,
FAST GROWTH IN OTHERS - Horsemen News Outlet

Tue, 02/21/2012 - 15:07 | 2181667 WALLST8MY8BALL
WALLST8MY8BALL's picture

First time, I did it for the hell of it
Stuck it right up and that
Was the end of it
Second time, things are
Getting easier
Hairs on the back of
My neck are getting stickier

Third time unlucky - perversely bloody
Doctor I'm ill please pass
Me the brandy
5-6-7 I heard George Foreman say:
Slow horses loose
Fast women frighten

Tue, 02/21/2012 - 14:58 | 2181635 surf0766
surf0766's picture

WHere are those politicians who were screaming about gas prices in 2008 at? I don't hear any of them making press releases on gas prices now.

 

Tue, 02/21/2012 - 15:36 | 2181809 SheepDog-One
SheepDog-One's picture

And wheres all the media reporters standing in front of gas stations demanding ANSWERS from someone for this travesty!

All suddenly silent, groveling, and accepting what theyre told to say by TPTB. 

Wow, we really are fucked here, goin down big time.

Tue, 02/21/2012 - 20:25 | 2182834 Common_Cents22
Common_Cents22's picture

They are literally gloating that the Dow touched 13,000 and wondering if that helps obama's re-election chances.   It's been every story on the lame stream media.

Tue, 02/21/2012 - 16:20 | 2181985 jwoop66
jwoop66's picture

they were all Dems.   Don't bring that up here, though or else you'll hear how you are stuck in the left/right paradigm because they are all the same.

Tue, 02/21/2012 - 21:58 | 2183104 gtb
gtb's picture

Agreed...they're not the same.  If they were the same, we wouldn't have such obvious media bias.

Tue, 02/21/2012 - 17:27 | 2182311 Tsunami Wave
Tsunami Wave's picture

Shhhhhhhh! Don't ask such intrusive questions, it's because the liberal media wants to suppress this information along with the completely awful economic data, and the other current state of affairs.  While Fox News has mentioned this, you won't hear a peep from ABC, CBS, NBC, CNN, CNN HLN, MSNBC, CNBC, Bloomberg, and the rest of the print press. Now if there was a republican presidient in office and this was going on..... You can guess exactly what would happen.

Tue, 02/21/2012 - 15:00 | 2181641 Uber Vandal
Uber Vandal's picture

"Uhm, would the "unrestful" parts of the world be those that have an above average US drone presence.."

Oh darn, that might be us soon....

http://www.naturalnews.com/034919_spy_drones_America_surveillance.html

30,000 drones / 50 states + DC = appx. 588 per state.

Wow, it is like the whole US will be like being inside of a Wal-Mart soon!!


Tue, 02/21/2012 - 15:12 | 2181686 CrashisOptimistic
CrashisOptimistic's picture

Where would you fly the drones?  Over the Bakken oil field?

Yes, that Bakken.  The Bakken, producing less than 500,000 barrels/day, up just 300,000 bpd over the 2-3 years that US oil imports (consumption) have dropped almost 4 million bpd -- and somehow is given credit for that 4.  

Sorry sportsfans, arithmetic still matters.  4 million bpd does not care about an increase of 300,000 bpd out of the ground in one place.  In fact, US overall production all regions was up only 150K bpd in the last two years.  That's rather a lot less than 4 million.

 The 4 million bpd decline in US imports (consumption) is from unemployment (aka disability) and household consolidation as parents cars now buy groceries for 3 adult families in one house.  We aren't pumping much new oil and that rise will soon fade back to negative.  China, OTOH, is buying 26 million new cars a year and burning gasoline in every single one of them.

 

Tue, 02/21/2012 - 15:24 | 2181727 V in PA
Tue, 02/21/2012 - 15:25 | 2181741 Terminus C
Terminus C's picture

China's credit bubble should solve the issue of them buying and driving too many cars soon enough.

Tue, 02/21/2012 - 16:47 | 2182110 trav7777
trav7777's picture

dude, ionic liquids and space elevators, ok?????//

YOU JUST WORSHIP BALE

Tue, 02/21/2012 - 18:07 | 2182447 CrashisOptimistic
CrashisOptimistic's picture

all

hail

bale

Tue, 02/21/2012 - 18:48 | 2182540 takinthehighway
takinthehighway's picture

SAVE THE BALES1

Tue, 02/21/2012 - 15:00 | 2181642 blu
blu's picture

Shorter WH: "Fear not, we'll invade Iran as soon as we have a good excuse."

Tue, 02/21/2012 - 15:30 | 2181763 V in PA
V in PA's picture

 "Fear not, we'll invade Iran as soon as we fabricate a good excuse."

Fixed. :)

Tue, 02/21/2012 - 15:01 | 2181643 Idiot Savant
Idiot Savant's picture

Everyone's known this was coming. It's been obvious for the last five to ten years. If you're still driving an SUV or large truck, and it's not a work/farm vehicle, you have no one to blame but yourself. Cheap fuel is not a god given right or civil liberty. Just wait until you warmongers get your war with Iran.

Tue, 02/21/2012 - 15:37 | 2181817 SilverIsKing
SilverIsKing's picture

Wait a second.  Based on what Obammy, Pelosi, and Reid told me I thought everyone had a right to own their own home, a right to health insurance, healthcare, cheap fuel, food, a flat screen television with 6 billion channels, an internet connection with wi-fi, a macbook pro, iPhone, iPad, pre-paid iTunes account, and an endless supply of unemployment checks.  If the unemployment checks run out, then they have a right to collect disability.

They didn't lie, did they?

Tue, 02/21/2012 - 16:35 | 2182046 myshadow
myshadow's picture

when did 'they' 'say' that?

Tue, 02/21/2012 - 19:07 | 2182596 GeezerGeek
GeezerGeek's picture

You don't even have a right to your own thoughts or ideas any more. Keep asking questions like this and someone is going to say something to Janet.

Tue, 02/21/2012 - 23:41 | 2183298 Seer
Seer's picture

Psst!  Don't tell the Party Pussy that HIS party was a HUGE supporter of NDAA.  Two sides of the SAME coin: http://www.govtrack.us/congress/vote.xpd?vote=s2011-218

Fucking morons!  Again, yes, fucking eat shit and die.  This has NOTHING to do with left v. right or this party v. that party.  It has EVERYTHING to do with POWER.  And YOU, yes YOU fucking morons, you just fucking help perpetuate this shit voting for your supposedly "superior" pieces of shit.  Hey!  Fuck You!

Oh yeah, God Loves You!

Tue, 02/21/2012 - 17:52 | 2182400 zerozulu
zerozulu's picture

I was buying bicycles from yard sales last summer. My average buying price per piece is $7.00. Wonder what will be the return on my investment???

Tue, 02/21/2012 - 20:28 | 2182844 Common_Cents22
Common_Cents22's picture

your return? you'll get jail time for hoarding transportation and the bikes will be confiscated and redistributed 3 years hence, the time it takes govt to do 4 studies to decide which of the needy would get them.

Tue, 02/21/2012 - 23:43 | 2183302 Seer
Seer's picture

Might have wanted to ask yourself whether people would actually ride them.  Really, where will people go when they have no jobs?

Tue, 02/21/2012 - 15:04 | 2181644 Gringo Viejo
Gringo Viejo's picture

Government lies as a matter of course. It must; lest it be shown for what it is. Force and coersion; nothing less, nothing more.

Tue, 02/21/2012 - 23:46 | 2183309 Seer
Seer's picture

Oh, but it's necessary in order to protect people's property rights!

Been asking this (about this fundamental flaw) for quite some time, how people can expect to have enough power to protect their property rights but not have it be intrusive.  When it's, as you say, about force and coercion it will ALWAYS end up taking rather than protecting.

Tue, 02/21/2012 - 15:02 | 2181646 PontifexMaximus
PontifexMaximus's picture

This is the biggest rubbish I have read this year. Give them the Pullitzer! Probably you need MITand Harvard etc. to be qualified making this kind of statement. Shame on you !

Tue, 02/21/2012 - 15:02 | 2181648 kito
kito's picture

its not that im fatter, its your depth perception thats changing....

Tue, 02/21/2012 - 15:42 | 2181838 exi1ed0ne
exi1ed0ne's picture

My balls are HUGE

Tue, 02/21/2012 - 15:03 | 2181649 LawsofPhysics
LawsofPhysics's picture

Long stills.  Glad to see there are still some sheep that believe in the two party lie.  Long sheers as well.

Tue, 02/21/2012 - 15:03 | 2181651 Alien Harvest
Alien Harvest's picture

The economy isn't going to recover, at this stage the best we can hope for is either divine intervention or benevolent aliens landing in December to make us look in the collective mirror.

The house of cards is falling, the only question that remains is  to who will be left to pick up the deck and deal the next hand.

Tue, 02/21/2012 - 15:03 | 2181653 CrashisOptimistic
CrashisOptimistic's picture

Before folks drink the cool aid and embrace the whole money printing drives oil price up meme . . .might want to notice that oil's superspike of mid 2008 (which will soon be looked back on as mild pricing) . . . took place before that printing ramped up.

THIS IS NOT ROCKET SCIENCE.

We are burning oil faster than it comes out of the ground.  The ugly part of this is the three agencies that track oil production DO NOT AGREE with their reports.  They are substantially different among EIA, IEA and JODI.  

It's very very very hard to know what global oil production truly is.  Odds are what, 99% those numbers are reported higher than reality?

Tue, 02/21/2012 - 15:07 | 2181669 schoolsout
schoolsout's picture

I think that ramp up back then was in preparation for the money printing...unfortunately, everything was sold off when the bottom fell out...then the money printing began in earnest.

Not sure I buy your theory...completely.

Tue, 02/21/2012 - 15:26 | 2181747 CrashisOptimistic
CrashisOptimistic's picture

Let me add ammo then.

When oil price spiked, oil production, even that likely incorrectly reported by the agencies (they take government quotes without audits), did not.

Why didn't the big oil producers spike their production to capture the revenue from that oil price spike?  Oil's up a factor of what, 6X since 2000, but oil production has barely budged.  Why aren't producers capturing all that new revenue by selling more?

Why?  Because they can't.  Because geology rules this matter, not economics.

Tue, 02/21/2012 - 16:03 | 2181928 oldman
oldman's picture

Crash,

Not just geology, but also chemistry as in carbon/methane:





http://www.independent.co.uk/news/science/vast-methane-plumes-seen-in-arctic-ocean-as-sea-ice-retreats-6276278.html I know very little about this, but have a friend who has been in the carbon game thirty years or so; he surprised me by saying that this is a very big deal---even more, but I won't go into that. Can you imagine drilling in the Artic and lighting up a methane hole---I don't even know if this is possible Know nothing oldman      om

Tue, 02/21/2012 - 16:11 | 2181950 CrashisOptimistic
CrashisOptimistic's picture

I know something of this.

It is safely ignored.

Do NOT follow this link or you will be banned from the site!