Here's your "oil bubble"...................It ain't gonna pop any time soon..........
AOL and Lucent were at $80 a share
250,000 Homes were selling for 500,000
Hoping beyond hope Oil is next
ping
Also disclosing why the only things worse is government control.
ping
I share in this theory as well. You cannot discount the devalued USD, but that is also someone a rsult of energy prices. The bottom IS going to fall out of this, there is nohing substantial to support these prices. If only I could predict when... but then again, that is the million dollar question.
Yes, and once oil prices come down to earth, we will see the sob stories on the national news of offshore oil workers losing their jobs, etc., etc.
Here's your "oil bubble"...................It ain't gonna pop any time soon..........
Yet everytime the President asked, the media reported the Saudis told him no.
This tells me that their original scolding of the rest of us was not entirely based in economics, but maybe was really a projection of some other personal issue, like maybe they were secretly cheering what they hoped was the impending disaster. For stocks and real estate, the “disaster” would not be in the run-up in prices, but in the “collapse” that would follow. For oil, the “disaster” is high and ever-higher prices. Any collapse in price would only be good news for the economy. In previous asset bubbles the phrase “tipping point” was mentioned so often it got worn out. In this bubble, I have not seen the phrase used once.
Maybe I’ve missed it but I would bet that mr Soros is involved somehow..funny this problem comes up the summer before an election two times in a row..???...mmmmmmm....adjusting tin foil, but only slightly..LOL
I asked a couple of Bankers what they were doing with Deposits now they had cut down on Mortgage Lending. One said they were putting it into Commodities. I suggested that was speculative. He didn’t seem to think so.
So I believe the surplus Deposit money is driving up all commodity prices, not just oil, (and it’s an endless spiral cos the cash circulates from Depositor to Bank to Commodity to Depositor). The rules need to be changed so Banks can’t use Deposits to speculate.
It has never been this easy to be a daytrader. Open a futures account. Fund it. Buy metals and oil futures on every single pullback. Take profits.
If this is really true, the speculators need to be thrown UNDER the jail and their families put into debtors’ prison.
This profiteering is not just fattening their wallets using our money — which is bad enough and worthy of harsh punishment. It’s emboldening and enriching the people that would kill us. And that my friends is treason.
If some traders wanted to do this and since the Futures Market is a paper trade, the price could be manupulated down.
One way would be for several groups of traders put in buys for a example about of $90.00 per barrel and then another group sells that paper for $90.00 that morning. Late that same day, it is done again but for example down to $85.00 per barrel.
The next day put in the same buy for $85.00 and then trade that paper to the same opposing group. A few hours later, lower the buy price to $80.
If enough paper trading is flashing across everyone’s radar, a panic sell off of paper could result.
79 posted on Thursday, May 22, 2008 8:16:17 AM by Deaf Smith (Don’t pick a fight with an old man. If he is too old to fight he’ll just kill you.- John Steinbeck)
I’ve given up on waiting for the increase to supply or the decrease in demand to bring down the price.
We cannot afford (as a family) to do nothing.
We traded in our Fords for Toyotas already.
We’ve cut down on driving - but even that isn’t helping us now.
I’m doing grocery shopping at Aldi’s and Sam’s (buying bulk).
I am not a green thumb, but we recently bought a book on square foot gardening and will give that a try this summer.
Our next step is to figure out the best alternative to our oil fuled furnace - which is only 7 yrs. old.
We’d like to figure out a way to keep the furnace, but power it with a different source.
We also live on top of a very windy hill with enough land for wind power - but in NY the cost of implementing wind energy is out of our reach.
Pinging you for your take on this. I’m as surprised as anyone about the fact that Iran is storing its supply in tankers offshore due to being out of land-based storage.
I was aware we, the US, had decreased our consumption (116 B brls per day?) than in the past, but was unaware of the ‘over-supply’ inferred in this article.
Could somebody please tell me WHO these speculators are and WHY nobody in talking about them?
CNBC is a willing co-conspirator for all the hedge funds who have their hacks on forecasting $150 or $200/bbl. oil. They are all in bed together, promoting the Democrat victory in Nov. They should all be sued when the bubble bursts, as it most definitely will.
It is heartening though, to see that the Congressional hearings with the oil company execs are being universally panned by everyone. The publicity hogs in D.C. have worn out that old propaganda gambit, and no one believes they can do anything about the price of oil.
However, I would like to see someone ask Nancy Pelosi why the price of gasoline has almost doubled since the Dems took over Congress in ‘06. When they campaigned on “doing something about the price of oil” the voters didn’t think they meant they’d double the price.
btt