Ok so how is this Bush's Fault

[JJP]

Originally Posted by dalakhani

The rise in Gas prices under Bush came during a period of time when the FED was TIGHTENING. The rise in Gas prices you have seen in the last year have come during an unprecedented period of FED EASING and the rise hasnt been dramatic. We are simply back up to a level where it should be when a country is not in a depression (which was why they dropped so badly before).

Look, Republicans bitch on here all the time about printing money and inflation and blah blah blah. When you look at the rise in Gas prices, you can't blame foreign policy or domestic oil policy(like dems were doing during Bush). You simply have to look at monetary policy.

Have you noticed that the dollar strengthening has led to a retreat in oil prices?

What's happening with oil is basically unprecedented. You clearly had a bubble from late 2007 to mid 2008 when it peaked at $147/barrel before the bubble burst and it came crashing down; all the way to the $34-$35/barrel level. The crashing of a bubble isn't the surprise; the fact that oil has more than doubled since the trough is a huge surprise. Look at the Nasdaq and Nikkei following their implosions. We didn't see any kind of move out of them like we are seeing in oil now. Probably only a matter of time before we see $100/barrel again. Will the libs still blame Bush?