June 25, 2008 (LPAC)--Are Missourians as upset at exploding oil and gas prices, food inflation and disappearing jobs, as the rest of Americans? Is their state also leading the country in bank failures so far this year?
Yesterday their freshman Democratic Senator, Claire McCaskell, burst out in a Senate hearing against any Congressional action to stop the wild speculation by hedge funds, investment banks, etc. on oil futures exchanges. Everything that could be done to stop the skyrocketing price of oil had already been done, McCaskell claimed, and hadn't worked. So Congress should do nothing more to control the oil and gas prices, and should invest instead in green, "alternative" energy sources including biofuels. Oil would have to stay well above $100/barrel, she concluded.
That same day, June 24, two Congressional sources told LPAC that House Speaker Nancy Pelosi had put the brakes on House legislation aimed at stopping the out-of-control "offshore" markets speculation in oil and gas futures--legislation they had thought could be voted on as early as that afternoon.
What were McCaskell and Pelosi doing? Senator McCaskell is suddenly a major spokesman for Barack Obama, even rumored as a possible VP choice. So, does Senator Obama believe nothing can or should be done about oil and gas prices? Or is this rather the line of George Soros and Al Gore? Speaker Pelosi rarely says anything about the economy without being instructed by banker Felix Rohatyn, Gore, or megaspeculator Soros--who is on recent record saying energy prices need to keep going up, to force cuts in consumption and "fight global warming."
Economist Lyndon LaRouche suggested that McCaskell's constituents should tell her straight up: She doesn't know what's she's doing. She's incompetent to be a Senator--let alone Vice President--protecting oil prices, and pushing biofuels in the face of a worldwide food price and shortage emergency.
As for those Congress Members who do want to clamp down on speculation, they need to admit what their constituents are sensing--the wild speculation is part of a general hyperinflationary financial collapse. If they don't put the financial system through bankruptcy in order to start rebuilding the economy, their anti-speculation measures will not work for long.
