It's the Economy STUPID!

A reader asked me how long a bounce Mr. Obama would get from the killing of OBL...I predict 2 weeks.  That's about how long the MSM will be able to wind this out.  The love fest was evident on ABC tonight with their "news breaks" on "late breaking news."  What'shername, the ABC evening news anchor, just gushed about "our brave seals."...

After 2 weeks, reality will return, and people will see the cost of gasoline rise above $4.50...and begin it's inexorable climb to the $5 dollar rung.  Of course, pretty much our entire economy is tied to the price of fuel.  Very soon, we'll see real inflation rates approach 10%.  The current system for measuring inflation doesn't count the cost of energy or food...both of which require intensive use of petroleum products to reach market, not just to grow.  Thus, the GAO continues to insist that there is no inflation...but then, they don't do any grocery shopping.
Mr. Obama claims he can't do anything about the cost of gasoline in the immediate future (the next few months).  While technically, that's correct, we as a nation, have some of the largest reserves of oil in the world.  We are continually finding new oil fields.  What this government has refused to do is permit new drilling.  The reason that the deep water BP spill happened at all is that environmentalists have successfully blocked the exploitation of newly discovered (over the past 20 years) of  oil fields located on the continental shelf (The CS lies in waters from 0 feet to approximately 500 feet deep).   This has forced us to exploit very deep water fields.  But now, even that's off limits.

But not for Brazil.  We gave Brazil's Petrobaz (spelling?) $2,000,000,000.00 to exploit  a new field discovered in deep water off the south east coast of Brazil.  Now, just who holds the largest block of privately held stock in that partially publically (Brazillian government) owned company?  Why George Soros, one of the huge contributors to Obama's 2008 presidential campaign.

Then throw in Mr. Obama's faux "deficit reduction plan" (which budget is still 25% larger than the largest signed by Mr. G. W. Bush)...that has markets in flux, and has caused Stardard & Poors, among other bond rating agencies to down-grade US Treasury bonds...plus the Chinese have started to sell off  US T-Bills (one common indicator that an attack on the dollar is imminent)...and IT'S THE ECONOMY STUPID!

Now, the real question is...will Washington listen?