Bernanke will NEVER get rising housing prices unless we have rising incomes. How can housing go up say 10% per year if incomes remain flat?
Welcome to our Fed Reserve becoming now a government sponsored slum lord. This surfing the properties and jacking up the prices of houses artificialy is never going to come back, but the government wants to gauge people out of their moneys so that their banker can be there to pay their wages.
This is outrageous.
Now that is the only thing that bambi has come up with that could actually work.
Algae and all it's related organisms such as regular bacteria and the brown algae, pond scum can be genetically engineered to produce what ever. This could work.
BA the FReeper Entomologist
Meanwhile, Dear Leader, with malicious intent to destroy the United States through bankruptcy, blathers on about oil-from-algae and other assinine futuretastic concepts to tittlilate the technowhores; and provides “circuses” for the well-fed government-bread crowd by singing with the rock band in the white hut.....while the “watchdog” media swoons, and the “leadership” of the loyal opposition plots to scuttle the upcoming election and assure Dear Leader another term to finish his dastardly plans!
$1 Canadian now equals $1.001 US Dollars.
In 2008, it was around $.80 US Dollars.
We get around 24% of ALL of our oil from Canada.
The Fed has injected so much liquidity (Printed Dollars) in to the markets in the last few months, that it has SIGNIFICANTLY DEVALUED THE DOLLAR, vs other currencies, especially oil-based ones, like the Canadian Dollar.
But hey, as long as the Ponzi last past the Novenber election, it’s all good. Right?
I like Mish and I read his articles every day.
But he really goes off the deep end.
He is strictly a deflationist and everything that happens in the world of economics (even rising food and gas prices) he refuses to ascribe to inflation.
It really is not that difficult to understand. Inflation is creating more money (out of pace with GDP). Deflation is taking money out of circulation. Both economic acts have both inflationary and deflationary effects.
As I said a couple of years ago, we are going to experience the extremes of inflationary AND deflationary effects with what the leftists are doing to the economy. Costs for the essentials will skyrocket (inflationary) because of the weakened purchasing power of the dollar. Asset values and incomes will decline (deflationary) because of the recession/depression and employers having to spend more money on higher overhead (fuel, taxes, etc.).
It is almost laughable to read Mish trying to explain the rise in the cost of petroleum as not being related to the weakening dollar. Up until recently, if you overlaid graphs of the dollar and the cost of petroleum, they were so nearly perfectly an inverse reflection of one another (dollar goes up, petroleum goes down and vice-versa) that it looked a mirror image. The reflection has skewed a bit in the past few quarters, but is still very traceable.
As for all the rest, Obammie the Commie stated clearly that the cost of energy would skyrocket under his control. He stated it plainly, and he and his cronies have caused it to happen.
If we had our own petroleum reserves tapped and ready to run at the flip of a switch, the troubles in the Mideast would have almost no impact on our flow and cost of oil. If they threatened to cut production, we’d just counter by upping it. The leftists have taken that trump card away from us.
Also, Mish is a diehard Ron Paul supporter. How can anyone delude themselves into believing that Iran is not trying to obtain nuclear weapons? Seriously, do they really need nuclear power when they have all the petroleum they need? Have they really proved themselves to be the sophisticated, peaceful global partner of the 21st century. I’ll have to look into that ‘report’ that came from Israel. But Iran is a threat, regardless of what Israel says.
Only a fool or your enemy tells you to ignore the bully who is threatening to kick you a$$, is stalking you, and keeps taking sucker punches at the back of your head.
We (Europe) should have put the embargo on a long time ago. The author misses the point. The fact that oil prices are volatile and that the major exporters of the commodity can bring the global economy to its knees should be reason enough for the US to develop its own energy resources. That is the message of high oil prices, not wild speculators.
Dropped by the old Doughnut Shop to visit with the locales for the first time in a long time yesterday. The conversation turned to gas prices, and the lead locale said “wuz cuzza spekulaters”
I asked him what they based their speculation on?
He looked at me as though I was some sort of evil Demon.
Let’s see...
1-Enriching uranium beyond the point of application for anything other than a weapon.
2-Developing missile delivery systems capable of carrying a nuclear warhead.
3-Deeply buried weapons facilities scattered around the country.
Oh....but we don’t know whether they’ve decided to integrate these elements.....
Listen to Newt destroy Piers Morgan regarding Obama's energy policies and the resulting rise in prices, and how to get prices back down. Newt also rips Piers on the administration's apologies in the wake of the recent violence in Afghanistan. http://www.cnn.com/services/podcasting/popups/piersmorgan_audio.htmlProgressive scu&bags in action.
IMHO
Maybe someone can explain this profiteering gig to me?
I’d love to get in on it.
See, I’m one of those idiots who always thought it required two people to make a contract.
There’s the guy who thinks the price of oil is going up - the profiteer in this case.
He buys an oil contract.
Then there’s the guy who thinks the price of oil is going down - the rube.
He sells an oil contract.
If the profiteer makes $1000, that means the rube just lost $1000.
So, even though EVERY politician and EVERY journalist in America KNOWS the game is rigged, the rubes just keep selling oil contracts and losing all their money!
Where do these rubes come from?
I’m also confused about another thing.
If I was a profiteer - if I had the power to manipulate the oil market as I pleased - why would I take on the major political risk of forcing oil prices to go up?
I could make exactly the same amount of money by selling oil contracts and forcing oil prices to go down.
Then I’d become an international hero.
And still get rich, too!
But, I always come back to the same conclusion.
There are no profiteers.
There are no rubes.
There are just supply and demand, risk assessment, and currency issues.
Anyone remember “Windfall Profits Tax?”
The only legal power the government has in the oil business is to raise the taxes on the oil companies. Can anyone think of a reason that would lower the price at the pump?
Bill the Bloviator has been on an inane rampage asking for the government to step in, then denying that he said it, but he has been on that wagon for three nights running. He is only lookin out for the folks though.