The New York Times reported on June 1st, that Americans are not using their rebates checks, courtesy of your elected officials, for leisure purchases.
People are using the money to pay energy bills – to survive. I’m not surprised by this at all…in fact, I predicted it.
I never believed for one minute that the ‘Economic Stimulus’ package was going to help.
Well for one thing they never have. Secondly, the rebates were limited. $800.00 for a family of four? That a month’s worth of groceries, if that. Maybe some of the $120 our Congress and President is spending in Iraq might help.
Just a thought.
What the power-elite in this country fail to realize that the debt driven economy they have forced upon us, is failing. It is failing because real wages are flat, Americans don’t – or more appropriately won’t save, and job opportunities are drying up faster than a water puddle in death valley during mid-July.
Gotta love that oil and coal driven global warming.
I believe we are not going to escape the house-of-cards we have constructed. This economy will continue to flounder until elected officials wake up and make substantive energy changes that make sense.
Here is my two cents worth…
Create a Western Hemisphere Oil Cartel and nationalize U.S. oil.
I know this sounds nuts, but hang in there. In the 1970’s, the U.S. relied on foreign sources for roughly 1/3 of all oil needs. Today that figure is over 50%. Currently, the U.S. imports roughly from 5500 (barrels per day) of it’s total 10500 (barrels per day) from North American countries including Canada, Columbia, Brazil, Mexico, etc. Read stats here. All of these countries have some form of a nationalized oil program.
I don’ think it is a stretch for me to say that nationalized oil is pie in the sky right now. The conservative backed U.S. corporate elite would never settle for letting billions in profits go down the drain while they take only a teeny fraction of that in royalties? Other nationalized oil firms, such as PEMEX in Mexico and PDVSA in Venezuela, filter profits straight back to their governments and into oil production or subsidies for consumers. With America’s current system, instead of helping ourselves, we help a select few, namely corporate fat cats. I’m not against companies making a profit, but I can see no reason Exxon’s CEO, Lee Raymond, should receive a $400 million retirement package while I’m paying $4.12 for a gallon of gas. Wouldn’t it be nice to know that when you fill up at the gas pump, a little of that money that you spend, just a little, on some level, goes to give working people a break?
Combine this with alternative fuel research initiatives, and a national rapid rail program with teeth, and now making soup.
But what do we do? We let some over-fed detroit auto executives and oil industry brass dictate our future as we run the economy into oblivion.
Its the American way.
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