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Is Oil a Bubble? Part 3

The old French saying: Each country has the best government its people deserve to have. No better and no worse.

It is just stupid to blame the Congress for high gas prices and dependence on foreign and unfriendly energy suppliers.

The US Congress just reflects the overall bankruptcy of the entire US way of life. Its moral, intellectual and economic values are in disarray and in crises. The degradation started at Lyndon Johnson "Great Society", and started to accelerate during both Clinton and G. W. Bush administrations.

The American consumer-consumption driven economic model is nothing more or less as a parasitic way of life using somebody else money without any intention to pay it back.

For the last 40+ years, America lived well above its means. It is a very long time; it could not last forever [similar to the Soviet Communist model], and eventually the time is up.

Just to blame specific individuals in the Congress and in the Administration is stupid. These scoundrels were elected by American people.

Now, America is about to start a transition to its new way of life. It will not be a painless transition. Just look at Russia. Ten years ago, Russia was in a terrible crisis. Now, it is one of the most dynamic and growing prosperity society.

America will survive. It will take some time. America will be a very much different country.