I do so love it when a plan comes together. Sure I was a bit early with my Monday headline "What Happened to Our Rally?," as it lasted until lunch but hey, it's a short week and I needed to save Tuesday's headline for actual news.
Also, it doesn't do much good if I am late with my calls, does it? So, over the years, I have pushed my timing from "right on time" to "a bit early," which gives everyone plenty of warning to get positioned for market nonsense.
As JFawcett said in chat last night about my call that oil would hit $100 into the holiday weekend: "Funny how Phil can see higher prices. He must have seen this movie before." My response was:
I wish it were funny but it's just sad that I can cynically predict that the markets will be manipulated to rip off the American people (and the rest of the World, for that matter) and then that's exactly what happens. It's not that it happens once but that it happens over and over again and NO ONE ever stops them. Not even Spitzer or Giuliani had the balls to go after commodity traders – they are truly untouchable.
The main purpose of crude price manipulation is to shift profits from refineries, which are typically located in politically stable countries with low risk of nationalization but higher tax rates, to exploration in countries that are typically low tax and corrupt.
That's right, it's all about the money and our news today (follow same link) contained several examples of our Corporate Kleptocracy in action. It's ironic that, tomorrow, this country celebrates it's 237th anniversary of "Independence Day" and we have never been less free. We are a nation of wage slaves who are held captive by Big Business and spied upon by our…
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