Rain will not dampen our Labor Day celebration, with the wife grilling merrily under a canopy and guests soon to arrive to meet, greet and eat.
While we await them, it’s a good time to reflect on current events.
Our hem-kissing, fist-bumping simpleton president thought he’d made a deal with the Saudis to increase oil production, the better to rein in rising gasoline prices and help get Democrats elected in the coming mid-term elections.
This act, coming as it did from a man who had blasted the Saudis in his campaign and since, rankled even his customary apologists in the media. Talk about convenient principles, Biden has them.
Today, the Saudi-driven OPEC-plus announced a small production DECREASE for oil. While you still were dreaming of hamburgers, hot dogs and corn on the cob, oil prices jumped three percent or so. Can gasoline be far behind?
When it comes to coping with such things, I’m reminded of a book by economist Andrew Tobias, published in the early 1980s, whimsically titled “Getting By On $100,000 Dollars A Year.”
Tobias realized the title was absurd. The advice inside was not. He pointed out that one needn’t be invested in stocks, bonds or futures to make economic hay.
A good investment might be finding canned tuna on sale at a great price and, instead of buying a can or two, buying a case. Do this often enough and the savings (investment return) add up quickly.
It was with a nod to Tobias that in recent days I filled the gas tanks of not one, not two, not three, but four of my cars. I was anticipating rising oil/gasoline prices and made an investment at 3.99.9 a gallon.
On a more traditional investment front, I’d scalped a trade in the exchange traded fund OIH, which holds companies that provide services to oil companies. I bought it on Thursday, a big down day for oil, and sold quickly Friday when oil jumped.
I didn’t want to hold it over this long holiday weekend, with no trading available today. I guess I should have waited to sell.
The Dow on Friday went from being up 370 points or so to closing down 337.98, a 700-plus point swing, when news broke that the Russians had closed down a natural gas pipeline to Europe for maintenance. Cynics noted this neatly coincided with yet more economic actions being taken against Russian energy.
No kidding!
As written previously here, it’s extremely naive to expect to punish a country economically and not have it punch back. Biden should have considered this when he thought all his past rhetoric would be forgotten when he went to visit the Saudis and beg for more oil.
The Biden propaganda team even tried to slip one past the Saudis by claiming that Biden had chastised their leaders verbally in private. The Saudis said no such thing happened.
This is a common Biden PR flack trick, used regarding Russia’s Vladimir Putin, too. The problem is these countries have their own propaganda operations and the means to get it out in the international media, thereby avoiding the filter of U.S. media, most of which sits squarely under the thumb of Biden and his fellow socialists.
Take a moment today to reflect on the schizophrenic behavior of Biden.
He shows up last week — in front of Independence Hall for historical irony — to give a hate speech regarding Trump voters. The lighting was blood red, suggestive of Hell, and a couple of Marines stood as sentinels, an implicit reminder that Biden can and will use force to cow his enemies.
Biden apologists immediately tried to walk back the image, which was as bad as anything you’ve ever seen in movies about dystopian futures ruled by dictators.
But Biden got to his cell phone and tweeted Sunday (who was supposed to be watching him?) that “MAGA proposals are a threat to the very soul of this country.”
MAGA, shorthand for Make American Great Again, is a threat to the country’s soul only as defined by Marxist, progressive, anti-American, anti-Constitution types who make up the Democratic party.
It’s going to require more than buying a couple of extra cases of tuna to prepare you for the coming carnage brought to you by Biden and his ilk.