Early this week, President Obama took to the Rose Garden to attack the invisible enemy – oil speculators. “We can’t afford a situation where speculators artificially manipulate markets by buying up oil, creating the perception of a shortage, and driving prices higher – only to flip the oil for a quick profit.” The president then asked “Congress to pass a package of measures to crack down on illegal activity and hold accountable those who manipulate the market for private gain at the expense of millions of working families…” adding, “And be specific.”
It was a talking-points memo – as Fox’s Bill O’Reilly would say – begging a compliant press to help deflect blame for rising gas prices from an incompetent administration to … “them.”
20012 is, after all, an election year.
If Obama has one outstanding trait, it is this: He loves to delegate. When Nancy Pelosi was Speaker of the House, Obama gave her the thankless task of drafting 2,700 pages of what became his signature health-care monstrosity. Now the hapless Obama charges the press and Congress to identify the evil-doers who “manipulate the market for private gain …”
Oh, “And be specific.”
This child-like naiveté clearly illustrates the disconnect Obama’s worldview has with, well, reality. In Obamaland, three-dimensional reality bends to the Progressive’s will to power. Who can forget his boast at the 2008 Democratic Convention that his nomination for president “was the moment when the rise of the oceans began to slow and our planet began to heal”? If he can rehabilitate our globe and quiet seven-eighths of the world’s liquid surface, why can’t he control something far less complex – the price at the pump?
The answer, of course, is “them.”
Obama’s enemies shift from “millionaires and billionaires,” to Republican “social Darwinists,” and now oil speculators. But the oil speculator is of singular importance to Obama for one reason: This enemy bases his speculation on the actions of others – in particular, the actions of the incompetent man-child in the White House.
After all, who wouldn’t bet on ever-rising fuel costs while the Federal Reserve wildly prints dollars that inflates the cost of dollar-denominated energy contracts? And then there’s Obama’s moratorium on off-shore oil drilling and his nixing of the Canadian Keystone pipeline deal. The “smart money” doesn’t have to be all that smart to turn a profit from Obama’s very public blunders.
In the real world, speculators react and don’t instigate. Attempting to move markets is far too risky. Profiting off the mistakes of incompetents – what investors generously call “inefficiencies in the market” – is how speculators turn “a quick profit.”
Say you’re a cock-eyed optimist who fancies himself capable of manipulating markets while creating new ones. You also have an unprecedented reserve of investment capital. You tell your backers that your idea represents the wave of the future and is certain to turn a profit and create the jobs of the future. You are confident because your scheme includes a plan to drive up costs for your competitors, which drives down consumer demand for their antique product. You boldly pour billions of dollars into your new speculative venture … and the solar-panel manufacturer Solyndra goes belly up anyway.
You see, attempting to manipulate markets is far too risky for sane speculators.
These sane investors are careful for one reason: If they’re wrong, they lose their shirts. Yet in spite of monumental obstacles thrown their way by our government’s market-manipulators, the oil speculators continue to insure we get a needed product in a timely manner.
The Progressive speculator in the Oval Office, on the other hand, dreams of markets that never were. His prospectus to investors is simple as well as simple-minded – “hope and change.” If his “investments” go bankrupt faster than he can throw your tax dollars at them, it’s because evil oil speculators actively conspire against him – that is to say, they capitalize on his monumental mistakes.
The enemy is not the free market or its investors. The enemy is the distorter … the creator of inflation and artificial shortage … the debt accumulator … the promoter of boondoggles … the engine of economic chaos … the meddlesome manipulator of the natural order – Barack Obama.
How’s that for specific?