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Wednesday 19 October 2011



There is a massive cancerous smear on our economy, and draws negligible awareness. The forces of the 1% have successfully kept it that way.

Mergers: Exxon-mobile, Arco-bp, ConnocoPhillips, Chevron-Texaco and most of the smaller oil domestic oil companies bought up by them, is it surprising that the price of gas is $ 4 a gallon, four times from a decade ago?

This high price puts a strong upward pressure on the price of all forms of energy. Paying more at the pump is only a small part of the pain. The increased cost spreads through out the entire economy. Transporting the fuel increases the price. Manufacturing costs go up, even the cost of baking bread rises; (and for those who cannot afford the bread the price of cake). Heating and or lighting of buildings, homes and streets costs more, and taxes have gone up.

Consumers spend more on less, shrinking overall consumption. Big money of which there is plenty is not inclined to invest and dampens creation of jobs.

Republicans have successfully kept the economy stagnant as they declared they would. There will be no help for the economy from that end.

ANTITRUST laws are currently on the books, and if they can be vigorously applied the economy could boom without the help from Congress. Oil companies should be forced to divest all acquisitions. This newly formed competition will drive prices down considerably, throughout the economy, magnifying the ability of consumers to spend. Entrepreneurs will have a hay day and there will be jobs galore. The enforcement of anti trust laws should apply to all business and industries. Are banks too big to fail? Bring them down to a size they have to achieve their existence.

Contact the Justice Department, the President and your Congressperson demanding the full application of the antitrust laws.

Beware the 1% yelling ‘deflation’. Inflation is money moving to the rich with a ‘swishing sound’, deflation is money in the pockets of the 99%.

C J Primlani

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