Saturday, December 27, 2008

Wealth As Illusion part 2

1. Bernard Madoff, 50 billion dollar ponzi scheme.

2. 700 billion dollars bail out money from Congress, also a ponzi scheme.

3. Oil went from $145 dollars this summer to $35 this winter.
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{(http://money.cnn.com/2008/07/15/markets/oil/?postversion=2008071516)
"Biggest oil price drop in 17 years"

By Kenneth Musante and David Goldman, CNNMoney.com staff writers
Last Updated: July 15, 2008: 4:56 PM EDT

NEW YORK (CNNMoney.com) -- Oil prices plummeted by the second-largest margin on record Tuesday as investors feared a further decline in U.S. demand after hearing comments from Federal Reserve Chairman Ben Bernanke.

Light, sweet crude fell $6.44 to settle at $138.74 a barrel in trading on the New York Mercantile Exchange.}

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By Kenneth Musante, CNNMoney.com staff writer
Last Updated: December 26, 2008: 2:54 PM ET

NEW YORK (CNNMoney.com) -- Oil prices rose back above $37 a barrel Friday after OPEC member United Arab Emirates detailed how it would cut production as part of the trade group's pledge to reduce output by 2.2 million barrels a day in January

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