 |
|
|
|
Next: Well hellllloooo, nurse!
|
| Author |
Message |
External
Since: Oct 28, 2006
Posts: 1028
|
(Msg. 16) Posted: Tue Mar 11, 2008 4:15 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: rec>boats (more info?)
|
|
|
On Tue, 11 Mar 2008 09:42:22 -0400, "Eisboch" <rce.DeleteThis@nowhere.com> wrote:
>
>
>Fair enough, but still, it's speculative and subjective. I am looking for
>specific reasons why and how the *POTUS* controls the price of oil on the
>world market and the value of the dollar.
>
Ask yourself why the Captain is responsible when a ship runs aground.
Same difference.
Don't get me wrong. It's not just Bush. The Wall Street Greed gang
is running this ship, and the crew has lost all discipline, drunk as
they are on cheap Chinese grog. Bush is just their figurehead,
nothing more. It started with Reagan's hare-brained Voodoo economics,
and his successors have carried on.
But each Captain is still responsible.
The cheap dollar - Polish people tell American dollar jokes - can be
directly tied to U.S. deficit spending and debt, and lack of goods
production in the U.S. due to offshoring jobs to keep the grog cheap.
The price of oil is a storm the ship was willingly steered into, when
all the radar showed it was there. Good Captains would have treated
oil with at least as much respect as made water, and confined the crew
to Navy showers while he had the engineers work on alternatives.
But the Captains were weak, and the crew were whiners.
Long luxurious baths in oil were the norm.
The law of supply and demand was ignored.
We're on the rocks now. There's only one Captain.
I don't see the upcoming replacements as being much better.
It will take Pat Buchanan, Dick Nixon, maybe Lou Dobbs
types to get us off the rocks permanently.
A hardass, not the gutless internationalists in the hopper.
Might be facile analogies, but that's one way to look at it.
From my perspective, our biggest weakness is consumer deadbeatism.
As a country, you can't consume more than you produce.
Not for long, anyway.
Anyway, that's how I see it. Of course, I might be all wrong.
--Vic |
|
| Back to top |
|
 | |
External
Since: Nov 12, 2007
Posts: 262
|
(Msg. 17) Posted: Tue Mar 11, 2008 4:22 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
On Tue, 11 Mar 2008 08:51:39 -0700, JamesGangNC wrote:
> McCain is a close to being a democrat as a republican can be. If he
> wins it will be because moderates put him in so he's not going to owe
> the extreme right wingnuts anything.
The American Conservative Union gives McCain an 83, out of 100, lifetime
rating, hardly a Democrat. He doesn't follow the party line, which I
think is a good thing whether Democrat or Republican. But the only ones
questioning his conservative credentials, are those extreme right wing
nuts. |
|
| Back to top |
|
| |
External
Since: Oct 28, 2006
Posts: 1028
|
(Msg. 18) Posted: Tue Mar 11, 2008 4:23 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
On Tue, 11 Mar 2008 08:07:37 -0400, "Ernest Scribbler"
<replies RemoveThis @newsgroup.only.please> wrote:
>"F.L.A.-J.I.M" wrote
>> I wonder if there will be a renewed interest in sailing?
>
>I switched in 2006. Used about two gallons of gas last year.
>
Heh. Never even considered anything but sailboat or gas-miserly
skiff. The skiff is looking less likely.
--Vic >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Dec 13, 2007
Posts: 39
|
(Msg. 19) Posted: Tue Mar 11, 2008 5:00 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
"Eisboch" <rce.TakeThisOut@nowhere.com> wrote in message
news:RIWdnbTtVd-dFEvanZ2dnUVZ_jCdnZ2d@giganews.com...
>
> "jamesgangnc" <jamesgangnc.TakeThisOut@gmail.com> wrote in message
> news:13td0qkdnv5nbea@corp.supernews.com...
>
>>
>> A significant part of that is the fact that the dollar is worthless.
>> Factor in the declining value of the dollar. Thank you idiot bush.
>>
>
> What does Bush (or any president) have to do with the price of oil or the
> value of the dollar?
>
> (Not argumentative, but I am really interested in learning how the POTUS
> controls and is responsible for such things)
>
> Please be specific and not speculative.
>
> Eisboch
Obviously Bush did not do it alone, the republican congress and senate share
in the responsibility. The single largest factor - national debt. When you
have more debt then you could ever pay, the easy solution is to print more
money! That is exactly what is happening, the printing presses are running
full tilt to print our way out of debt - which is extremely inflationary and
since there is already a glut of dollars on the world market - makes them
worth less!
Price of oil - if the value of the dollar drops by 50% oil cost 100% more.
A $40 bbl of oil now costs $80 add in higher demand and that accounts for
the rest of the inflated price.
long term what Bush and the Republicans have done to the dollar:
http://futures.tradingcharts.com/chart/US/M
And notice just what has happened in the last week which co-insides with the
price of oil.
http://futures.tradingcharts.com/chart/US/W
price of oil to compare to
http://futures.tradingcharts.com/chart/CO/W >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Jan 24, 2006
Posts: 2759
|
(Msg. 20) Posted: Tue Mar 11, 2008 5:15 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
"John" <nyob DeleteThis @justspam.com> wrote in message
news:47d6f2e7$0$30508$4c368faf@roadrunner.com...
>
>
> Price of oil - if the value of the dollar drops by 50% oil cost 100%
> more. A $40 bbl of oil now costs $80 add in higher demand and that
> accounts for the rest of the inflated price.
>
I just don't get it. (I am an engineer, not an economist  )
The dollar has not dropped by 50%, yet the price of oil has more than
doubled (more if you go back a couple of years).
Plus ... it's a world wide price .... not unique to the US. All countries
are paying much higher prices.
Eisboch >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Dec 20, 2007
Posts: 507
|
(Msg. 21) Posted: Tue Mar 11, 2008 5:43 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
"Vic Smith" <thismailautodeleted.DeleteThis@comcast.net> wrote in message
news:bb1et3l1pajdccfv4e3ol0pheqrmh3h5kb@4ax.com...
> On Tue, 11 Mar 2008 08:07:37 -0400, "Ernest Scribbler"
> <replies.DeleteThis@newsgroup.only.please> wrote:
>
>>"F.L.A.-J.I.M" wrote
>>> I wonder if there will be a renewed interest in sailing?
>>
>>I switched in 2006. Used about two gallons of gas last year.
>>
> Heh. Never even considered anything but sailboat or gas-miserly
> skiff. The skiff is looking less likely.
>
> --Vic
$3.45/gallon on the street at the 3 stations near us today.
I hate to see what the dock prices will be when marinas start to open up in
April. >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Apr 29, 2007
Posts: 1559
|
(Msg. 22) Posted: Tue Mar 11, 2008 5:51 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
On Mar 11, 5:45 pm, Short Wave Sportfishing <em....RemoveThis@swsportsremove.org>
wrote:
> On Tue, 11 Mar 2008 17:15:12 -0400, "Eisboch" <r....RemoveThis@nowhere.com> wrote:
>
> >"John" <n....RemoveThis@justspam.com> wrote in message
> >news:47d6f2e7$0$30508$4c368faf@roadrunner.com...
>
> >> Price of oil - if the value of the dollar drops by 50% oil cost 100%
> >> more. A $40 bbl of oil now costs $80 add in higher demand and that
> >> accounts for the rest of the inflated price.
>
> >I just don't get it. (I am an engineer, not an economist )
>
> >The dollar has not dropped by 50%, yet the price of oil has more than
> >doubled (more if you go back a couple of years).
> >Plus ... it's a world wide price .... not unique to the US. All countries
> >are paying much higher prices.
>
> It's not about demand - demand accounts for maybe 10% of the increase
> over the fundamental price of $48.75 (based on current demand,
> historical data and current demand data). They are blaming "demand",
> but demand has stayed relatively level - despite the best efforts of
> the IOC prognosticators. OPEC, at the last data point, has at least a
> 3.7 million spare production hold on a per day basis.
>
> What's fueling this is pure speculation. If you take a look at the
> long contracts, over the past six months that this run up has been
> occurring, the increase in long term interest has quadrupled. That
> means that interest in buying oil in say May, at $125 a barrel, has
> increased four fold - there's money on the table that is willing to
> buy at that level.
>
> It's a self-fullfilling prophecy. If there is that kind of money
> willing to buy against $110, which is going to win out?
>
> Add the fact that there is too much money chasing too little profit
> and you get speculation.
>
> Also, I read something today that oil is now being used as a currency
> - people are buying oil and using the contracts as currency to
> purchase other commodities in commodity swaps which is driving up the
> prices of wheat, corn, soy bean and palm oil.
>
> That is a classic speculative bubble. And when it explodes, it's
> going to be spectacular.
>
> That's my story and I'm sticking to it. :>)
Here's hoping you are right, even if I don't get the boat;) >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Apr 17, 2007
Posts: 1069
|
(Msg. 23) Posted: Tue Mar 11, 2008 6:52 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
On Mar 11, 5:15 pm, Vic Smith <thismailautodele... RemoveThis @comcast.net> wrote:
> The Wall Street Greed gang
> is running this ship, and the crew has lost all discipline, drunk as
> they are on cheap Chinese grog.
"The only traditions of the Royal Navy are rum, sodomy and the lash."
- (Churchill's assistant, Anthony Montague-Browne ) >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Jan 12, 2007
Posts: 1844
|
(Msg. 24) Posted: Tue Mar 11, 2008 7:58 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
"JimH" <askme.DeleteThis@nope.com> wrote in message
news:47d6fcfe$0$1100$4c368faf@roadrunner.com...
>
> "Vic Smith" <thismailautodeleted.DeleteThis@comcast.net> wrote in message
> news:bb1et3l1pajdccfv4e3ol0pheqrmh3h5kb@4ax.com...
>> On Tue, 11 Mar 2008 08:07:37 -0400, "Ernest Scribbler"
>> <replies.DeleteThis@newsgroup.only.please> wrote:
>>
>>>"F.L.A.-J.I.M" wrote
>>>> I wonder if there will be a renewed interest in sailing?
>>>
>>>I switched in 2006. Used about two gallons of gas last year.
>>>
>> Heh. Never even considered anything but sailboat or gas-miserly
>> skiff. The skiff is looking less likely.
>>
>> --Vic
>
> $3.45/gallon on the street at the 3 stations near us today.
>
> I hate to see what the dock prices will be when marinas start to open up
> in April.
You've got me wondering about marina gas at the first of the season.
Are you getting last falls fuel..or do the marinas let the tanks pump dry
and replenish in March/April? >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Dec 20, 2007
Posts: 507
|
(Msg. 25) Posted: Tue Mar 11, 2008 7:58 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
"Don White" <whited.RemoveThis@ns.sympatico.ca> wrote in message
news:47d70e9e$0$4038$9a566e8b@news.aliant.net...
>
> "JimH" <askme.RemoveThis@nope.com> wrote in message
> news:47d6fcfe$0$1100$4c368faf@roadrunner.com...
>>
>> "Vic Smith" <thismailautodeleted.RemoveThis@comcast.net> wrote in message
>> news:bb1et3l1pajdccfv4e3ol0pheqrmh3h5kb@4ax.com...
>>> On Tue, 11 Mar 2008 08:07:37 -0400, "Ernest Scribbler"
>>> <replies.RemoveThis@newsgroup.only.please> wrote:
>>>
>>>>"F.L.A.-J.I.M" wrote
>>>>> I wonder if there will be a renewed interest in sailing?
>>>>
>>>>I switched in 2006. Used about two gallons of gas last year.
>>>>
>>> Heh. Never even considered anything but sailboat or gas-miserly
>>> skiff. The skiff is looking less likely.
>>>
>>> --Vic
>>
>> $3.45/gallon on the street at the 3 stations near us today.
>>
>> I hate to see what the dock prices will be when marinas start to open up
>> in April.
>
> You've got me wondering about marina gas at the first of the season.
> Are you getting last falls fuel..or do the marinas let the tanks pump dry
> and replenish in March/April?
>
Come April they will be selling last years gas until they refill the tanks.
Our marina sells at the price they paid for the gas at the time, plus a
small profit, rather than real time prices........so whatever they paid in
2007 for the last fillup is close to what they will be selling it for come
April.
Not knowing how they stabilize the gas over the off season I (nearly) top
off the tank just before the boat goes to sleep for the winter. >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Mar 09, 2008
Posts: 586
|
(Msg. 26) Posted: Tue Mar 11, 2008 9:45 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
On Tue, 11 Mar 2008 17:15:12 -0400, "Eisboch" <rce RemoveThis @nowhere.com> wrote:
>
>"John" <nyob RemoveThis @justspam.com> wrote in message
>news:47d6f2e7$0$30508$4c368faf@roadrunner.com...
>>
>> Price of oil - if the value of the dollar drops by 50% oil cost 100%
>> more. A $40 bbl of oil now costs $80 add in higher demand and that
>> accounts for the rest of the inflated price.
>
>I just don't get it. (I am an engineer, not an economist )
>
>The dollar has not dropped by 50%, yet the price of oil has more than
>doubled (more if you go back a couple of years).
>Plus ... it's a world wide price .... not unique to the US. All countries
>are paying much higher prices.
It's not about demand - demand accounts for maybe 10% of the increase
over the fundamental price of $48.75 (based on current demand,
historical data and current demand data). They are blaming "demand",
but demand has stayed relatively level - despite the best efforts of
the IOC prognosticators. OPEC, at the last data point, has at least a
3.7 million spare production hold on a per day basis.
What's fueling this is pure speculation. If you take a look at the
long contracts, over the past six months that this run up has been
occurring, the increase in long term interest has quadrupled. That
means that interest in buying oil in say May, at $125 a barrel, has
increased four fold - there's money on the table that is willing to
buy at that level.
It's a self-fullfilling prophecy. If there is that kind of money
willing to buy against $110, which is going to win out?
Add the fact that there is too much money chasing too little profit
and you get speculation.
Also, I read something today that oil is now being used as a currency
- people are buying oil and using the contracts as currency to
purchase other commodities in commodity swaps which is driving up the
prices of wheat, corn, soy bean and palm oil.
That is a classic speculative bubble. And when it explodes, it's
going to be spectacular.
That's my story and I'm sticking to it. :>) >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Jan 24, 2006
Posts: 2759
|
(Msg. 27) Posted: Tue Mar 11, 2008 9:45 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
"Short Wave Sportfishing" <email.DeleteThis@swsportsremove.org> wrote in message
news:ckudt3pk2tl0dddfaupup50cpg2mllhrep@4ax.com...
> On Tue, 11 Mar 2008 17:15:12 -0400, "Eisboch" <rce.DeleteThis@nowhere.com> wrote:
>
>>I just don't get it. (I am an engineer, not an economist )
>>
>>The dollar has not dropped by 50%, yet the price of oil has more than
>>doubled (more if you go back a couple of years).
>>Plus ... it's a world wide price .... not unique to the US. All
>>countries
>>are paying much higher prices.
> It's not about demand - demand accounts for maybe 10% of the increase
> over the fundamental price of $48.75 (based on current demand,
> historical data and current demand data). They are blaming "demand",
> but demand has stayed relatively level - despite the best efforts of
> the IOC prognosticators. OPEC, at the last data point, has at least a
> 3.7 million spare production hold on a per day basis.
>
> What's fueling this is pure speculation. If you take a look at the
> long contracts, over the past six months that this run up has been
> occurring, the increase in long term interest has quadrupled. That
> means that interest in buying oil in say May, at $125 a barrel, has
> increased four fold - there's money on the table that is willing to
> buy at that level.
>
> It's a self-fullfilling prophecy. If there is that kind of money
> willing to buy against $110, which is going to win out?
>
> Add the fact that there is too much money chasing too little profit
> and you get speculation.
>
> Also, I read something today that oil is now being used as a currency
> - people are buying oil and using the contracts as currency to
> purchase other commodities in commodity swaps which is driving up the
> prices of wheat, corn, soy bean and palm oil.
>
> That is a classic speculative bubble. And when it explodes, it's
> going to be spectacular.
>
> That's my story and I'm sticking to it. :>)
Well, you and Doug have convinced me. I've thought and read about this
quite a bit since our last discussion and I think you guys are absolutely
correct. The price of oil (not the actual oil) is being bet on daily.
Other market factors influence the price, but not like the wild, get rich
quick speculation.
Oh, and for the politicals .... Bush has absolutely no control over this.
Eisboch >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Jan 22, 2008
Posts: 162
|
(Msg. 28) Posted: Tue Mar 11, 2008 9:45 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
"Eisboch" <rce RemoveThis @nowhere.com> wrote in message
news:AcCdnS_mnMNrYkvanZ2dnUVZ_gCdnZ2d@giganews.com...
>
> "Short Wave Sportfishing" <email RemoveThis @swsportsremove.org> wrote in message
> news:ckudt3pk2tl0dddfaupup50cpg2mllhrep@4ax.com...
>
>> On Tue, 11 Mar 2008 17:15:12 -0400, "Eisboch" <rce RemoveThis @nowhere.com> wrote:
>>
>>>I just don't get it. (I am an engineer, not an economist )
>>>
>>>The dollar has not dropped by 50%, yet the price of oil has more than
>>>doubled (more if you go back a couple of years).
>>>Plus ... it's a world wide price .... not unique to the US. All
>>>countries
>>>are paying much higher prices.
>
>
>> It's not about demand - demand accounts for maybe 10% of the increase
>> over the fundamental price of $48.75 (based on current demand,
>> historical data and current demand data). They are blaming "demand",
>> but demand has stayed relatively level - despite the best efforts of
>> the IOC prognosticators. OPEC, at the last data point, has at least a
>> 3.7 million spare production hold on a per day basis.
>>
>> What's fueling this is pure speculation. If you take a look at the
>> long contracts, over the past six months that this run up has been
>> occurring, the increase in long term interest has quadrupled. That
>> means that interest in buying oil in say May, at $125 a barrel, has
>> increased four fold - there's money on the table that is willing to
>> buy at that level.
>>
>> It's a self-fullfilling prophecy. If there is that kind of money
>> willing to buy against $110, which is going to win out?
>>
>> Add the fact that there is too much money chasing too little profit
>> and you get speculation.
>>
>> Also, I read something today that oil is now being used as a currency
>> - people are buying oil and using the contracts as currency to
>> purchase other commodities in commodity swaps which is driving up the
>> prices of wheat, corn, soy bean and palm oil.
>>
>> That is a classic speculative bubble. And when it explodes, it's
>> going to be spectacular.
>>
>> That's my story and I'm sticking to it. :>)
>
>
>
> Well, you and Doug have convinced me. I've thought and read about this
> quite a bit since our last discussion and I think you guys are absolutely
> correct. The price of oil (not the actual oil) is being bet on
> daily. Other market factors influence the price, but not like the wild,
> get rich quick speculation.
>
> Oh, and for the politicals .... Bush has absolutely no control over this.
>
> Eisboch
According to some, he could just say STOP IT.  >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Dec 27, 2007
Posts: 746
|
(Msg. 29) Posted: Tue Mar 11, 2008 9:45 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
On Tue, 11 Mar 2008 18:01:39 -0400, "D.Duck" <Don DeleteThis @ald.duck> wrote:
>
>"Eisboch" <rce DeleteThis @nowhere.com> wrote in message
>news:AcCdnS_mnMNrYkvanZ2dnUVZ_gCdnZ2d@giganews.com...
>>
>> "Short Wave Sportfishing" <email DeleteThis @swsportsremove.org> wrote in message
>> news:ckudt3pk2tl0dddfaupup50cpg2mllhrep@4ax.com...
>>
>>> On Tue, 11 Mar 2008 17:15:12 -0400, "Eisboch" <rce DeleteThis @nowhere.com> wrote:
>>>
>>>>I just don't get it. (I am an engineer, not an economist )
>>>>
>>>>The dollar has not dropped by 50%, yet the price of oil has more than
>>>>doubled (more if you go back a couple of years).
>>>>Plus ... it's a world wide price .... not unique to the US. All
>>>>countries
>>>>are paying much higher prices.
>>
>>
>>> It's not about demand - demand accounts for maybe 10% of the increase
>>> over the fundamental price of $48.75 (based on current demand,
>>> historical data and current demand data). They are blaming "demand",
>>> but demand has stayed relatively level - despite the best efforts of
>>> the IOC prognosticators. OPEC, at the last data point, has at least a
>>> 3.7 million spare production hold on a per day basis.
>>>
>>> What's fueling this is pure speculation. If you take a look at the
>>> long contracts, over the past six months that this run up has been
>>> occurring, the increase in long term interest has quadrupled. That
>>> means that interest in buying oil in say May, at $125 a barrel, has
>>> increased four fold - there's money on the table that is willing to
>>> buy at that level.
>>>
>>> It's a self-fullfilling prophecy. If there is that kind of money
>>> willing to buy against $110, which is going to win out?
>>>
>>> Add the fact that there is too much money chasing too little profit
>>> and you get speculation.
>>>
>>> Also, I read something today that oil is now being used as a currency
>>> - people are buying oil and using the contracts as currency to
>>> purchase other commodities in commodity swaps which is driving up the
>>> prices of wheat, corn, soy bean and palm oil.
>>>
>>> That is a classic speculative bubble. And when it explodes, it's
>>> going to be spectacular.
>>>
>>> That's my story and I'm sticking to it. :>)
>>
>>
>>
>> Well, you and Doug have convinced me. I've thought and read about this
>> quite a bit since our last discussion and I think you guys are absolutely
>> correct. The price of oil (not the actual oil) is being bet on
>> daily. Other market factors influence the price, but not like the wild,
>> get rich quick speculation.
>>
>> Oh, and for the politicals .... Bush has absolutely no control over this.
>>
>> Eisboch
>
>According to some, he could just say STOP IT.
>
That might work for some of the investors in this country, but it probably
wouldn't have much affect on those in Singapore.
Of course, it's Bush's fault anyway. He should have taken action several
years ago to make sure we weren't using oil any more.
--
John >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
External
Since: Mar 09, 2008
Posts: 586
|
(Msg. 30) Posted: Tue Mar 11, 2008 10:44 pm
Post subject: Re: Hate to bring up boating... [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
|
|
|
On Tue, 11 Mar 2008 17:56:04 -0400, "Eisboch" <rce.DeleteThis@nowhere.com> wrote:
>
>"Short Wave Sportfishing" <email.DeleteThis@swsportsremove.org> wrote in message
>news:ckudt3pk2tl0dddfaupup50cpg2mllhrep@4ax.com...
>
>> On Tue, 11 Mar 2008 17:15:12 -0400, "Eisboch" <rce.DeleteThis@nowhere.com> wrote:
>>
>>>I just don't get it. (I am an engineer, not an economist )
>>>
>>>The dollar has not dropped by 50%, yet the price of oil has more than
>>>doubled (more if you go back a couple of years).
>>>Plus ... it's a world wide price .... not unique to the US. All
>>>countries
>>>are paying much higher prices.
>
>
>> It's not about demand - demand accounts for maybe 10% of the increase
>> over the fundamental price of $48.75 (based on current demand,
>> historical data and current demand data). They are blaming "demand",
>> but demand has stayed relatively level - despite the best efforts of
>> the IOC prognosticators. OPEC, at the last data point, has at least a
>> 3.7 million spare production hold on a per day basis.
>>
>> What's fueling this is pure speculation. If you take a look at the
>> long contracts, over the past six months that this run up has been
>> occurring, the increase in long term interest has quadrupled. That
>> means that interest in buying oil in say May, at $125 a barrel, has
>> increased four fold - there's money on the table that is willing to
>> buy at that level.
>>
>> It's a self-fullfilling prophecy. If there is that kind of money
>> willing to buy against $110, which is going to win out?
>>
>> Add the fact that there is too much money chasing too little profit
>> and you get speculation.
>>
>> Also, I read something today that oil is now being used as a currency
>> - people are buying oil and using the contracts as currency to
>> purchase other commodities in commodity swaps which is driving up the
>> prices of wheat, corn, soy bean and palm oil.
>>
>> That is a classic speculative bubble. And when it explodes, it's
>> going to be spectacular.
>>
>> That's my story and I'm sticking to it. :>)
>
>Well, you and Doug have convinced me. I've thought and read about this
>quite a bit since our last discussion and I think you guys are absolutely
>correct. The price of oil (not the actual oil) is being bet on daily.
>Other market factors influence the price, but not like the wild, get rich
>quick speculation.
>
>Oh, and for the politicals .... Bush has absolutely no control over this.
There is literally nothing any politician can do about it - that's
what's so interesting.
The bubble will burst when the EU and BRIC countries start feeling the
inflation. BRIC is already feeling some inflationary pressure and the
EU is ignoring inflation to concentrate on growth and they will be
seeing it very soon - most likely by July, possibly before.
Oddly, the one agency that can do something about it is actually the
FED. These two really innovative moves it's made over the past two
days makes it pretty clear that the FED has a handle on it and it
using some unique magic in their bag of tricks. What they are
basically saying is screw inflation - get the dollar back on track,
get the banks lending again and growth back to 2.5/3% - then we'll
deal with inflation because by the time we get back to steady,
inflation will take care of itself. Even more interesting, the EU
Central Bank has finally woke up to the fact that they have to
coordinate with the FED which they did today.
Very interesting what Bernacke and his cronies have done - not your
usual techniques. >> Stay informed about: Hate to bring up boating... |
|
| Back to top |
|
| |
| Related Topics: | Why Abolishing Government Would Not Bring Chaos - Why Abolishing Government Would Not Bring Chaos by Brad Edmonds I wrote recently that government should be abolished. Among the responses to the article were objections of the sort shared by most who encounter for the first time the prospect of living...
Anyone knows if it's relatively easy to purchase US boat (.. - My engine seized and it looks like I must either purchase a new or old engine or simply replace the boat altogether (could probably only afford a used one). I am looking on the Net and find that there is much more options, choices (and better prices!) i...
hate speech - Traitor Democraps Should All Be Killed For their Hate Speech! Now, who is not shaking enrage and walking down the street angrily muttering to themself while holding their George W. Bush action figure proudly for all to see? Well, I am for one. But I..
I hate to share... - this post is not archived.
I hate airboat noise - Although I am a sailor/canoer, I dont mind jetskis, PWCs or most power boats but airboat noise drives me nuts. The noise level these things produce is painful at distances of several hundred feet. They scare wildlife with their noise and stop all.. |
|
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
|
|
|
|
|
FAQ
Profile
Private Messages
Log in
