Today I am a genius. I've been thinking a lot about the oil situation and contemplating the speculation that is behind it. I've read articles by economists who claim the problem is not speculation and other articles by other economists who believe it could be, might be.
The reason I'm a genius today is that I received an open letter from United--as did all United customers and probably all airlines customers--asking me to support them in lobbying Congress to eliminate speculation on oil. All 12 airline CEOs seem to be asking the public to go to Stop Oil Speculation Now as part of the lobbying process. I've written individual emails to a few members of Congress. That's like trying to empty the ocean with a strainer. Useless. But I've long believed that part of the problem behind the oil prices is speculators. That seemed to be a big part of the economic problem in the late 1920s/early 1930s.
Of course, I've also spoken out against lobbyists because those specially paid professionals tend not to represent me. But now I get to be a lobbyist and represent me. Is this an awesome country or what? The big question is, of course, whether or not Congress will listen. The next big question is whether or not this is the right course of action. I dunno, but I'm on it.
I also heard on the news a very frustrated sounding Chuck Greener, SVP of Communications for Fannie Mae, speak out about the market because of the rumors swirling around the possibility of Treasury nationalizing the companies. Even Christopher Dodd, chair of the Senate Banking Committee members had to speak out in defense of Fannie Mae. I'm not remotely close to be an economist, but that market action seems like speculation to me. I'm just sayin'.
Brett Favre. Not surprisingly, it seems the guy doesn't want to retire after all. There was, of course, a ton of speculation (there's that word again) about how soon he might come back after he retired or if he'd come back. Bookies somewhere are hoping to cash in big depending on which way this goes. Of course, this might all be rumor. Because the Packers seem to have committed to Aaron Rogers for the upcoming season, Favre seems to be asking to be released and seems to be interested in shopping himself to other teams. The rumor mill is churning with the possibility he might go to the Chicago Bears (please say it isn't so!!), the Minnesota Vikings (the gloating will never end), or the hapless Miami Dolphins. I'm sure there are others. If the rumors are true and he wants to come back, and the Packers don't want him, and he wants to be released, I can only hope he goes anywhere but Chicago or Minnesota. I could live with him going to the Dolphins. I grew up in Florida and was a Dolphins fan until the Jimmy Johnson era. He was more than I could stomach. And I became a Packers fan for no particular good reason, but I love the passion and guttiness of the Packers fans and team. Just more speculation to watch and wonder about.
Now I'm off to examine Stop Oil Speculation Now a bit more closely.