The Church of Kharma Futures

The Rev's views on politics, events,faith, and the world. All content copyright Church of Kharma Future 2007-2015 All rights Reserved

Economic Ignorance and the Politics of Control

Posted by revkharma on July 31, 2008

The evening news has just started. The lead story is the reports of the latest reports of  “Record Profits” for Exxon- Mobil. They cut to people filling their gas tanks ( Pick up, SUV) and ask if the reports of “record Profits” makes sense to them.
Of course none of the people asked could say much other than , “I don’t know, I don’t understand it”
They then cut to a phone message with a US Congressman from area  He says ( not exact words here)
” It is not right.. With people suffering here, paying $4.00 at the pump and they keep reporting all this money. I support reasonable profits, but I think this is profiteering!”
OK, congressman, tell us, the unenlightened masses, just how much is a reasonable profit?
I wonder, if asked, if the estimable Member of Congress could tell us the profit margin made by Exxon-Mobil, and how it compares to say, the margin made by the communications company that owns , the station broadcasting this news tonight.
Finally, the anchor wraps up with this bit of economic brilliance:
Well, believe it or not, Exxon-Mobil’s stock actually  DROPPED $4.00 per share today. It seems that Wall Street expected even greater profits!  How EVIL of people to expect a profit! I wonder how much of the pension plan this bubble headed broadcaster owns is invested in Exxon- Mobil stock?
Why did the stock drop today?  Because they expect to sell  less oil next year, as Americans actually cut back. This will reduce profit. Exactly the same way that the increased use of oil led to higher profits this year!
The enemies of freedom count on the ignorance of America.

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