Tuesday, June 28, 2011
Make that Coffee Caffeine Free
6/28 A day or two ago I was traveling to work listening to CNBC. This is far more entertaining than music and for some reason I feel comfortable with the geekspeak they carry on. Everything is in code and decifering the code takes a little sting out of the message for some reason. Anyway, on this day there was a loud pundit screaming (pretty much literally screaming) about how strategic oil reserves were just that, strategic. This person was annoyingly strident as he interupted the guest who I assumed to be someone respresenting the administration. Now as many times as I have heard financial types demanding that we use the oil reserves to effect the economy and equally stridently complaining when that didn't happen, I thought this guy to be rather humorous except for the annoying grating loudness of his voice. As I listened I gathered that the reason for using the reserves now was in an attempt to ween the economy off of QE2 infusions of money and provide that soft landing we have all been hoping for, rather than that double dip. Further this was an international agreement, and while this guy seemed to be concerned about what the Arabs would think about this, I kind of guessed they might have been consulted at least in secret. The loud guy said the oil reserves were not for getting Presidents reelected. I thought that an odd complaint, because this election more than any before it will probably hinge on how well the economy is doing, and personally, I want it to do well. The pundit also exclaimed (a word I borrow from Hardy Boy's books to point out his continued annoying tone) that the price of oil was much higher a few months ago and why would we use it now when the price was coming down, and besides "strategic" might include other things than war. Not only that but the price of oil was recovering today already. As his argument became more and more self-contradictory I arrived at work. Today, I was listening to CNBC and the folks there were talking about the seeming long term lowering of the prices of commodities, citing gold and, yep, oil. I believe gold speculation was hit by that side maneuver of demanding higher reserves for speculatiing on silver. Silver took a dive and should have been a shot across the bow for anyone speculating in other comodoties. This adminstration was going to wring out speculation. One might doubt that they could, but hey, an international agreement to use everyone's strategic oil reserves is pretty amazing. Can we get that loud guy back and make him pinkie promise not to go to Starbucks before going on the air again?