I got yet another ...

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'Reminder' that the middle-east gets 'all our money' for oil.

Now, inflation wise, oil has gone down over the years, actually (cost of production was lowered, even if the cost of raw materials went up).  That's why oil companies are making record profits.

That said, the reason that someone gets 'all our money' isn't for oil, it's for *money*.  Credit costs *way* more than oil, and since the 'Reagan Revolution' (paying the credit card minimum due w/cash advances from that very credit card, basically), we've paid a lot of money for money.

And now, we're kinda desperate for money, and it shows.

You might have noted the last time that we sent Taiwan anything, China threatened to hold the pursestrings shut, and for the first time, we listened (didn't act, but the fact that we listened is indicative of concern).

Yeah, Americans bitch about how much money they have to pay for oil.

I wonder how much they'll bitch when the Chinese won't lend them the cash to buy it?

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This page contains a single entry by writch published on March 2, 2010 7:02 AM.

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