Oil jumps us$16 to a high of us$120

Oil spiked up sharply on 22 September 2008, to us$120, after falling to us$92 last week. Why? The answer is not difficult to find. Financial markets are jittery and the us$700bn that Signor Paulson our anal hair stylist supremo & US secretary of the Treasury thought he would get and control with impunity is slow in coming. Bless the US congress for demanding terms which won't favour Paulson & his motley crew who created the subprime mess and waxed rich from it. Already Morgan Stanley has sold a goodly share to a Japanese bank; from Japan, it can tap into liquidity, but surrenders control; the Japanese are no fools; they know a good bargain when they see it for after all they've had 20 years after the Japanese miracle bubble burst and they know how to deal with the US bubble in a way which will bring benefit to Morgan Stanely, something a hookup with Wachovia wouldn't. Instability in the market place tilts towards finding a haven in a hurricane in commodities...hence the precipitous rise in oil. Gold is up again, and so the merry go ride continues with more headaches for the US & its 'rentier' class of sponges, blood suckers, and rich. If congress had the power to dump Signor Paulson, it should have. He's an incompetent and a loyal soldier for his class of plutocrats, most of whom deserve to be behind the thick bars of a prison cell! So as long as there's no agreement on a bailout oil will bounce higher and higher and higher.