This article "re-blogged" with permission from www.TheHeroesofAmerica.com

The New York Times had this to say about the “volatile swings” in the price of oil over the last 12 months:

“A wild run on the oil markets has occurred in the last 12 months. Last summer, prices surged to a record high above $145 a barrel, driving up gasoline prices to well over $4 a gallon. As the global economy faltered, oil tumbled to $33 a barrel in December. But oil has risen 55 percent since the beginning of the year, to $70 a barrel, pushing gas prices up again to $2.60 a gallon, according to AAA, the automobile club.

“To call this extreme volatility might be an understatement,” said Laura Wright, the chief financial officer at Southwest Airlines, a company that has sought to insure itself against volatile prices by buying long-term oil contracts. “Over the past 15 to 18 months, this has been unprecedented. I don’t think it can be easily rationalized.””

Well, its not that difficult to “rationalize” if one takes into account the massive hedge fund speculation in oil last year (and now again this summer). Oil was never remotely worth even close to the $145 a barrel it went for last summer. Its estimated that 60% of the price was pure speculation! The large Wall Street hedge funds, in collusion with big oil, robbed the American people blind last summer. Actually, the “Oil Bubble” of last summer was a direct response to the bursting of the real estate/sub prime bubble - hedge funds were looking for a quick buck after losing billions in the crash of that casino.

There is, once again, absolutely NO shortage of oil right now - in fact, there is a MASSIVE GLUT! Americans have cut back literally tens of billions of miles of driving - that’s right, billions of miles less. So the rational explanation once again is obvious - these large Wall Street hedge funds have once again tried to re-inflate the oil bubble. And again, its starting to crash. This is a clear and obvious portent of another coming crash - the new financial investment bubble created by the Bush/Obama Bank Bailout. This sudden deflating of “Oil Bubble 2″ means that the crash of the artificial “Bank Bailout Bubble” can only be a couple months away.

Artificial financial bubbles do NOT a healthy economy make. What new phony “Hail Mary” pass will the great Obama and his Wall Street lackeys Tim Geithner and Larry Summers come up with next to try and save the economy? Another 800 billion dollar gift to their Wall Street cronies?

Sorry, the money is all gone Mr. President. “Change we can believe in” - what a terrible cruel joke. Obama could have spent that bank bailout money on a national industrial policy to rebuild our manufacturing sector - you know, have America ACTUALLY MAKE THINGS instead of just, as that crazy koot Ross Perot said many years ago, “just playing with money”.

Instead, President Obama and his Wall Street Kabal decided to simply try and restart their gambling casino.

Now we will really have to pay the price. False prophets lead their people down a very destructive path.