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Fear is driving the presidential election of 2008. Since the economic meltdown in early October, Barack Obama's poll numbers have steadily risen as millions of Americans are afraid of losing their investments. They fear the federal government has lost control of the financial marketplace and are looking for a white knight to turn the situation around. That fear is well founded, as the Bush administration has allowed speculators to run wild in the stock and commodities markets. This column stated last spring that oil speculators were artificially driving up prices and the oil companies were taking advantage of the situation by raising prices based upon "futures contracts," not supply and demand. Naysayers criticized me, but when the speculators pulled out, oil prices cratered. The entire gas price deal was a scam and the folks got hurt. Continue reading the full column...
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