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Home » Discuss » Topic Forums » Economy Donate to DU
WVRICK13 Donating Member (930 posts) Send PM | Profile | Ignore Fri Nov-28-08 08:45 AM
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Where It All Started
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Correct me if I am wrong but I think the entire economic situation can be explained by massive profiteering by the oil companies. The price of fuel raised to the point that people bought fuel to drive their cars and heat their homes and had nothing left to purchase anything but necessities. Unfortunately some of the necessities had to be put on revolving credit. The oil companies, during this time, showed profits like no other industry in the history of humanity, yet, we were told it wasn't their fault. With the majority of all cash expenditures going to the oil companies, all other industries took a hit. This downturn lead to layoffs and the spiral began.

Can anyone tell me why there aren't criminal investigations into this series of events, other than the fact that asshole in the White House gave his oil buddies a parting gift? Our response is to rescue his other buddies on Wall Street, am I missing something? The rich are getting richer. People with money can purchase homes, land and business real estate for a fraction of its' value and wait for a rebound. This successfully transfers more wealth into the hands of the wealthy and obliterates the middle class. I think this is a bit too convenient.
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