Saturday, June 19, 2010

The Pete Morin Editorial Review--Issue #51

Recession Redux

Got a very interesting piece of mail a few days ago. It was from my heating oil supplier. The prepaid contract they were offering listed fuel oil at $2.60/gallon, but was only good until February 15, 2011. What are they trying to tell me, other than the obvious that they won't have oil available at that price beyond February 15. Here's what I think they're saying and everyone, regardless whether you heat with oil or not, should be very concerned.

Early next year the economy could start to get extremely shaky; by this I mean not just a new recession, but something much worse. We could be looking at inflation like we haven't seen in thirty years. Our wise and wonderful government--and I don't mean just the fools in the current administration--has set the stage for a currency debasement that will cause the cost of everything to skyrocket. This is what's at the heart of the fuel oil people telling me that they probably can't supply oil at a reasonable price beyond the middle of winter. In fact, some investment guru's expect the price of a barrel of oil to go well beyond $100. Think this isn't possible? Watch the stock market closely this fall because it's usually leads the economy by six months.

Sooner or later the predatory beast that is our Federal Government will devour everything; not just our liberty and freedom, but all that we own. The socialist fools and their liberal sycophants will, if given a chance, make us all dependent to them for our very existence. If, on the other hand, you like BIG GOVERNMENT, you'll have a fine old time wearing several layers of clothing this winter. Why, you'll show those big, bad oil companies you're not going to be intimidated. If you're really lucky maybe the Feds will nationalize oil.

Happy days are here again!

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