Had enough of obamanomics?

[steveox]

Gas went back up $3.65 again any more bright Ideas Mr Obama?

 

[Openmind]

Gas went back up $3.65 again any more bright Ideas Mr Obama?

There is one easy way to resolve this: Put a cap on how much oil industry can make in profit. . .

But, obviously, this would not fly with you or people who are for "less" government!

So. . .why don't you come up with a bright idea? By the way, gas prices were even higher for several months under Bush. . .when the dollars was stronger against foreigh currencies.

 

[Lagboltz]

IMO, globalization has had no benefit to the American people, nor to the world. In China, slave labor is continued due to the corporate influence, and to American welath being transferred there. In Africa, American corporations ignore, and take advantage of, human trafficking in child slave labor for the sake of profit.

IMO I agree with you about globalization. It has given Americans cheap stuff at the expense of out-souring jobs.

The American corporation is not dead as you assert. It simply has changed its face, and shown little concern for this nation as a whole. This globalization has caused the need for more government interference in matters, and has produced a debtor nation with some 40% of the population now dependent on the services that government provides. And people will always vote for their interests.

I didn't assert that American corporations are dead. Too many executives and BODs of US corporations are most interested in raising stock prices during their tenure, at the expense of the stability of their company (and stock prices) in the future.

Until the time comes that Americans follow the advice of the Founders, and provides for its own needs before that of the world, it will continue on its decline.

I agree that we need to start thinking about ourselves.

50 years ago 1/3 of the US population worked in manufacturing. Since 1960 2 out of 3 factory jobs have been lost. The US workforce dropped from 33% to 10% in manufacturing. 80 to 90% of our jobs are now in service industries.

 

[GenSeneca]

There is one easy way to resolve this: Put a cap on how much oil industry can make in profit. . .

[O]ver the past 25 years, oil companies directly paid or remitted more than $2.2 trillion in taxes, after adjusting for inflation, to federal and state governments—including excise taxes, royalty payments and state and federal corporate income taxes. That amounts to more than three times what they earned in profits during the same period, according to the latest numbers from the Bureau of Economic Analysis and U.S. Department of Energy.​

Gas @ $4.00 - Of that money:
Exxon Profit 10.5% (0.42c/gallon)
Gas Tax (.18:Fed+.28:State=.46c/gallon) <---Direct tax
Indirect taxes - those levied on Oil Companies - are shown over a 25 year period to be 3 times what oil companies make in profits... thats $1.26 @$4.00/gal.
Total profit from one gallon of gas @ $4.00/gal:
Exxon: $0.42c
Uncle Sam: $1.72

Besides... How would putting a cap on US oil companies profits have any impact on foreign oil companies profits? It certainly wouldn't have any affect on the price of oil.

 

[Lagboltz]

There is one easy way to resolve this: Put a cap on how much oil industry can make in profit. . .

Another problem that affects the price are commodities speculators. It is hard see how to put a cap on that.

 

[Openmind]

Another problem that affects the price are commodities speculators. It is hard see how to put a cap on that.

Yes, you are correct. Again. . . what does Obama have to do with this?

 

[Hobo1]

Another problem that affects the price are commodities speculators. It is hard see how to put a cap on that.

Why is that so difficult? Write a law that says the commodity exchanges is open one day a week. That would cut out speculators and allow business who really need the commodity exchange to do their business. Come on, the price of oil can't really fluctuate by 1%-2% overnight - the oil is still in the ground, not going anywhere. It is speculators at work that cause these price swings. F'ing parasites.

 

[Lagboltz]

Why is that so difficult? Write a law that says the commodity exchanges is open one day a week. That would cut out speculators and allow business who really need the commodity exchange to do their business. Come on, the price of oil can't really fluctuate by 1%-2% overnight - the oil is still in the ground, not going anywhere. It is speculators at work that cause these price swings. F'ing parasites.

That sounds like a plan. Now if we can only get F'ing congress to pass it.

Yes, you are correct. Again. . . what does Obama have to do with this?

I'm not sure what you mean. It doesn't seem that Obama can do much of anything without the right screaming about regulations.

 

[Openmind]

That sounds like a plan. Now if we can only get F'ing congress to pass it.

I'm not sure what you mean. It doesn't seem that Obama can do much of anything without the right screaming about regulations.

Exactly my point! I was referring to Steveox blaming Obama (again) for the return to $3.65 for gas!

 

[steveox]

I WONT BE WATCHING OBAMA TONITE! Im watching MONDAY NITE RAW!

 

[BigRob]

There is one easy way to resolve this: Put a cap on how much oil industry can make in profit. . .

But, obviously, this would not fly with you or people who are for "less" government!

So. . .why don't you come up with a bright idea? By the way, gas prices were even higher for several months under Bush. . .when the dollars was stronger against foreigh currencies.

What!? Economics 101 tells us that price controls rarely (and only under very certain circumstances of which this is not one) work.

 

[BigRob]

Another problem that affects the price are commodities speculators. It is hard see how to put a cap on that.

Speculators do effect the price (to an extent), but they also make price swings far less volatile. If you truly tried price to supply and demand and eliminated speculation from the market (which is really just private parties entering into agreements) then you would see huge overnight price changes instead of gradual run ups etc.

 

[Openmind]

Speculators do effect the price (to an extent), but they also make price swings far less volatile. If you truly tried price to supply and demand and eliminated speculation from the market (which is really just private parties entering into agreements) then you would see huge overnight price changes instead of gradual run ups etc.

I don't think I agree with that. Today, what we see is ONLY run ups. . .without the speculators, maybe the prices would be less stables. . . less stables with upward trends!

We would actually have a chance to see some DOWNWARD trends. . .even for just a few days or weeks!

 

[Hobo1]

I'm not sure what you mean. It doesn't seem that Obama can do much of anything without the right screaming about regulations.

To be the President means to be Supreme Leader and Inspirator. I've posted in the past that we have never heard the kind of speech that a football coach might give to pep up his team. Here is a quote from FDR:

Faith in America, faith in our tradition of personal responsibilities, faith in our institutions, faith in ourselves demands that we recognize the new terms of the old social contract. We shall fulfill them ... We must do so, lest a rising tide of misery engendered by our common failure, engulf us all. But failure is not an American habit; and in the strength of great hope we must all shoulder our common load.
​

Obama must carry the "we must all as individuals work together to re-build our great nation. We must all sacrifice together; rich and poor, young and old" speech to the nation. I don't feel that happening; I don't see that happening.

An inspired and confident American public can help build a common desire to put forth the extra effort to build and grow the country. In practical terms that means telling businessmen to hire the unemployed, and use their money to build new and better companies - don't just keep it in the bank or use it for personal gains. Obama must tell the unemployed to find work, even if it means taking lower pay. The young must use their ingenuity to find new opportunity in America. Fill a need: just like Facebook and Twitter. The old must recognize pain and illness are a part of getting old. Enjoy your life with family and friends - and don't be so quick to run to the doctor for every problem.

All of that I do not see. Rather, I see a National Health Care System which take the load off personal responsibility and puts it on the shoulder of the government. I see a Bank Reform Act that does nothing but add more than add petty regulations and cause more paperwork for banks. It doesn't stop the problem of over-leveraging their money and other systematic problems of bank greed. I see a stimulus that was misdirected and scattered in a hundred useless directions.

Obama is a president with tunnel vision. He governs for his political constituency and not for the country as a whole. He wouldn't know what the commodity exchange is used for, or how it works. Simply put, he is not up to the job.

He would have difficulty even participating in this forum! But he might learn some things he needs to know.

 

[OldTrapper]

Human trafficking is a humanitarian problem where people are sold into slavery to work as prostitutes, etc. It is not a significant factor in the economics of any country. In Africa the problem is corrupt governments, terrible business environment and lazy workers that keep that continent at poverty levels. Again, human trafficking is not an economic factor.

Not a major one for sure. However, to say it plays no role is kind of simplistic. Human traffickers smuggle in cheap labor here in the US to work in "sweat mills", not just as prositutes. In the cacao fields of Africa children are kidnapped, and sold as slaves, to pick the beans necessary for the production of cocoa. The American corporations that buy this product turn a blind eye to the problem since it keeps the cost of their chocoltes down, an dincreases profits. If it were not such a problem the US would not have had to pass laws against it in recent years.

American corporations face numerous obstacles not found in other countries. They are forced to meet high water and air environmental standards; must abide by local, state and federal regulations -from local zoning limitations to worker safety standards. Plus the high standard of living in the US requires that workers be paid a higher salary than most non-Western countries.

So, ou are saying the American worker should accept the lower standards of the rest of the world, corporations should be allowed to dump their industrial waste in waterways, pollute the air, and generally speaking just be allowed to do as they please for the sake of profit.

Many US companies have benefited greatly because of globalization. If you travel the world you will see that even in very poor countries, companies like McDonalds, 7-11, and Caterpillar are thriving. Plus, in the stores, products from companies like Proctor & Gamble, Johnson and Johnson, Coca-cola, Levis, plus many more are found everywhere in the most remote corners of the world.

The corporations are thriving, the people are little better off. One o fth ehings that is often ignored is that the corporation is allowed to declare their losses in those countries here in the US thus lowering the tax liability. Then they are allowed to declare their proifts here in the US in the other countries to avoid taxation on those profits. That is one way GE was able to pay no taxes. It also accounts for the idea that corporations make 50-80% of their profits overseas which is questionable considering the poverty there.

Here is an article I would suggest all read:

http://www.achart.ca/articles/publications/essays_intern_corp.html