Any American still able to employ common sense after living through the housing market collapse, the bank collapse, the rise of Obama, and, as the gratuitous final flatulent: the bank bail out; may forget it was the spike in oil that tumbled our financial house of cards. It was easy to forget the role of higher oil because the price dropped as quickly as the stage lights at the end of a Broadway show.
It is another thing to determine what or who caused this foul spike in oil. A vile signature begins to appear in the place of the most likely suspects, and, in the ink may be found forensic evidence about who hates the United States the most.
Here is a picture of that treacherous oil spike from the Federal Reserve Bank of Saint Louis:
Although there were significant run ups in prices all through Bush’s second term, the economy continued to grow. The increases were certainly part of Bush’s growing lack of popularity, but the American economy, driven by real estate profits, continued on. It was as though some entity, frustrated at the inability to derail America’s consumer driven economic prowess, finally pulled out all the stops. The frustration, of course, was not necessary. If previous experience is any predictor of future patterns of behavior, it should have been plain that the downturn in real estate was already in the works. Because it takes about a year for higher oil prices to impact consumer spending on durable goods, including real estate, the result of the early 2007 price increases were probably about to knock down the American consumer in early to mid 2008, just in time to hand the election over to Bush’s opposition.
It’s possible that things simply got out of control. In the frantic run up to the 2008 election, agents and agencies of fantastic means from around the world, investors with great experience and clear risk recognition, must have been very passionate. The tremendous amounts of finances that had to be put at risk in order to bid oil futures out of sight are staggering. Where could all of all of this cash innocently entered the bidding war for oil? Qatar.
The Bush-Cheney war on terror was so successful that a strategy of “any administration that is not Republican” would have been rational enough for any American enemy that favored a Taliban administered, Aljazeera espoused, world view. Which of our enemies were rich enough? Which of our enemies thought America needed a soft-on-terror, anti-war administration? Perhaps something could be learned beyond Benghazi if America learns who Hilary Clinton was in contact with on her secret, private email accounts, email accounts she used in her role as Secretary of State for years. Perhaps a full background from the entire group of international donors to Hillary’s two billion dollar “charity” foundation would shed light on these answers. After all, Hillary Clinton, not President Obama was the odds on favorite to win the Democratic primary in the days of the oil spike sharp enough to flatten tires.
Headlines began to immediately illustrate the political advantage America’s enemies gained by investing so heavily in oil futures throughout 2007 and 2008. The Taliban takeover of north Pakistan happened in the first month of the Obama administration. Certainly, Al Qaeda of Pakistan didn’t take Obama’s threat of drone attacks very seriously. Likewise, foreign students of the American political process who would have taken action to assure a Democratic victory can not have been disappointed by the continuing trickle of previously classified CIA documents being posted on the World Wide Web. Not only were CIA enhanced interrogations curtailed in ways that offered Al Qaeda much greater operational security, but those who survived Guantanamo Bay have been released in droves as victors and propaganda stars in the Islamic world.
If there was a conspiracy to topple the global economy to secure a change in American policy, the conspirators were giddy at Obama administration’s willingness to expose the presence of nuclear weapons in Israel. This policy should not have been a special surprise to potential conspirators for it was telegraphed by Jimmy Carter six months before Obama was elected, right during the most spectacular section of the oil spike.
Conspiracy theories or not, a continually dripping American sore that any enemy can exploit at will: oil independence is the pain that will not go away. American Sovereignty is at stake whenever the nation cannot pay its bills. Debt matters.
Oil independence must be first for economic and national self-defense. What a shock, The American congress just failed to override President Obama’s veto of the Keystone Pipeline …And whatever happened to ANWR?
Presidential candidate Donald Trump has recently predicted that America could well suffer a serious recession in the near future. Certainly, this could be based on an analysis of our national debt and our deteriorating manufacturing sector, but one might base it equally on a patter of geopolitical economic power. Forces in favor of “free trade,” energy monopolies, and transnational monetary policy might easily be tempted to, once again, exhale a little loudly in the direction of our American economic house of cards.