6.13.2010

BP's gusher of oil and Obama's sea of red ink

Where Is BP Headed: $70 or $0?

Excerpts:

.... 536 engineers working on this problem are likely to achieve better results in solving the problem than 536 politicians only interested in being photographed picking up tar balls ...

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You think BP’s spill is big? BP is a drop in the bucket compared to the gusher of borrowed money the US has squandered while looking for love (or campaign contributions which, to a politician, amounts to the same thing.) The trillions our nation has borrowed simply cannot be repaid merely from increased productivity any more. So our government will depreciate our currency via inflation.

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Comment: Interesting read. I'm not likely to buy BP stock, but this analyst sees a future for it!

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