![]()
- The Richest Members of the US Congress
- New Consensus Sees Stimulus Package as Worthy Step
- Wall Street Jobs Slow to Return Despite Record Profits
- Thanksgiving Week Stuffed With Economic News
- Black Friday Deals May Not Signal Retail Comeback
- Investors to Goldman: Be Less Greedy
- UPS Sets New Rates For 2010
- Victoria's Secret Hopes to Rekindle Desire for Lingerie
- 'New Moon' Takes Record $72.7M Box Office Bite
- How Stock Investors Can Play Holiday Travel
- Time Lapse World Series Is A Great Play
- Hirschhorn: Greed...or Fear
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
- May Day For Dendreon
- 100% Mortgage Financing From USDA
- Holiday Tipping: Who And How Much
- Deep Discounts Should Make It a Very Tech-y Holiday
Oil companies are fixing the price of oil and should suffer penalties, according to developer Donald Trump.
![]() |
Donald Trump |
Speaking on CNBC this morning, the real estate magnate said taking punitive measures against companies reaping big profits in a capitalist society is against his nature, but the energy situation is unique.
"I consider myself to be a great capitalist, but I think the oil companies have been ripping off this country and the world for a long time," Trump said. "I can see doing something against the oil companies. They're making numbers--nobody's ever seen numbers like this. They and OPEC and lots of people together are having a lot of fun."
Trump also said the US economy is at depression levels in terms of real estate, but he nevertheless has used the drivedown in prices as a buying opportunity.
"Outside of Manhattan the United States is closed down," he said. "I've built up a lot of cash, and what I'm doing is going around and buying things that two or three years ago were absolutely impossible to buy."
To help the country out of its economic slump Trump recommended keeping the dollar cheap and not raising taxes, a point he made in a discussion about the difference between presidential candidates Barack Obama, the Democratic nominee, and Republican John McCain. Obama generally favors raising taxes on top earners and large companies, which McCain opposes.
"Raising taxes at this very critical juncture would be a very bad thing for the economy," Trump said.
He also commented on tight monetary policy by banks, which have been hesitant to loan money even though the Federal Reserve has dropped interest rates dramatically over the past nine months.
"The banks are virtually out of business," he said. "The banks are not loaning money, and no matter how strong you are, no matter how strong your cash position, it doesn't make any difference. It's very, very hard if not impossible to get any money."
- Technology can make or break a fortune in the world of alternative energy.
- Many people are facing the holidays with substantially smaller incomes. Here’s how some are adapting.
- Jim Cramer is a proponent of stocks that pay healthy dividends, and here are his top five dividend plays.
- From salt, to lip balm to envelopes, it turns out that bacon flavoring can sell almost anything.
- The homebuyer's tax credit jacked sales for a while, but 2010 is looking weak. Now what?
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.













