There is no shortage of oil.
Brent P
http://biz.yahoo.com/ap/080516/oil_prices.html
<...>
"Still, Saudi Arabia, the world's largest oil producer, does not see
enough demand from customers to increase oil production, the White House
said Friday morning."
<...>
"Shum said oil is still seen as a better bet than investors' other
options."
<...>
--------
Oil is the replacement for the housing bubble that took out the
financials when it burst.
Thank the federal reserve.
necromancer
No surprise there. The dollar hasn't been worth the paper its printed
on against the Euro or the Pound Sterling for a long time (since about
the time that shit for brains appointed that other shit for brains as
chairman of the federal reserve).
OBTW, how do you like this little bit of statictical manipluation
from the bureau of labor statistics:
http://in.biz.yahoo.com/080514/137/6tq8x.html
Only someone in the bush administration could say something like gas
prices actually went down last month.
--
"That's interesting. I hadn't heard that. ..."
--George W. Bush on the prospect of US$4.00 gas
Brent P
> No surprise there. The dollar hasn't been worth the paper its printed
> on against the Euro or the Pound Sterling for a long time (since about
> the time that shit for brains appointed that other shit for brains as
> chairman of the federal reserve).
The thing is basically anyone who followed greenspan was going to have
to face this. It's not so much that the central banker is stupid but
that central banking is going to fail. There is no way a central
management can ever be subsitute for the entire aggregate of the
population.
Now some accuse me of being off topic and that I should go to political
forums, so I'll point out the link to driving. It's when I learned that
practically everything that government does and teaches us with regard
to driving is wrong that I began to see it in other places. It's the
same thing over and over again. Since they muck up something as simple
as driving, odds are they'll muck up everything with the same ideas,
same motives, and same mentality. The point is we know that if we take
the decisions everyone makes with regards to speed on a road we can
find the safe speed of the road. Not by declaration of the elected, not
by the neighborhood busy body, but by the result of many individual
decisions.
The same is true with regard to interest rates, markets, etc and so
forth. When the government or other central control starts trying to
manipulate things, disasters occur because people make incorrect
decisions because the environment they are making their decision in is
distorted. Greenspan fixed very low interest rates. The result was
careless lending, the bubble of higher housing prices, and the bubble
bursting.
The idea of central banker declaring what the interest rate should be
is no better than some elected office holder doing the same for the
speed limit. Both are trying to pick numbers to modify people's
behavior and both will cause problems trying to do that.
> OBTW, how do you like this little bit of statictical manipluation
> from the bureau of labor statistics:
> http://in.biz.yahoo.com/080514/137/6tq8x.html
"Overall, the consumer price index rose by a smaller-than-expected 0.2
percent in April. So-called core prices, which strip out food and
energy costs, were up just 0.1 percent, half the increase that analysts
had forecast."
Not on this planet. Although the computer I bought back in sept has
been replaced by a model with more ram a bigger hd, and costs about
$350 less.... oh wait, the computer business is one with little
government interference! Food, fuel, medical care, etc are a full of
government interference....
> Only someone in the bush administration could say something like gas
> prices actually went down last month.
Welcome to 1984.
necromancer
<tetraethylle...@yahoo.com> wrote:
>The same is true with regard to interest rates, markets, etc and so
>forth. When the government or other central control starts trying to
>manipulate things, disasters occur because people make incorrect
>decisions because the environment they are making their decision in is
>distorted. Greenspan fixed very low interest rates. The result was
>careless lending, the bubble of higher housing prices, and the bubble
>bursting.
And what has the current central banker been doing in the mean time?
he has cut interest rates even further, flooding the world market with
US dollars and devaluing the US dollar to near worthlessness. Hence,
part of the reason for the huge run up in the price of oil in US
dollars.
>The idea of central banker declaring what the interest rate should be
>is no better than some elected office holder doing the same for the
>speed limit. Both are trying to pick numbers to modify people's
>behavior and both will cause problems trying to do that.
>
>> OBTW, how do you like this little bit of statictical manipluation
>> from the bureau of labor statistics:
>
>> http://in.biz.yahoo.com/080514/137/6tq8x.html
>
>"Overall, the consumer price index rose by a smaller-than-expected 0.2
>percent in April. So-called core prices, which strip out food and
>energy costs, were up just 0.1 percent, half the increase that analysts
>had forecast."
"Strip out food and energy prices," the two very things that people
buy the most of. Another nice bit of statistical manipulation by the
US Government to make things look better than they really are. Would
be interested in knowing what the inflation rate would *really* be if
food and energy were included as they should be.....
>Not on this planet. Although the computer I bought back in sept has
>been replaced by a model with more ram a bigger hd, and costs about
>$350 less.... oh wait, the computer business is one with little
>government interference! Food, fuel, medical care, etc are a full of
>government interference....
Do you buy a computer every week? Didn't think so....
>> Only someone in the bush administration could say something like gas
>> prices actually went down last month.
>
>Welcome to 1984.
The year '84 wasn't all that bad compared to 2004 to 2008....
"Our excessive dependence on OPEC has already taken a
tremendous toll on our economy and people. It's a
cause of the increased inflation and unemployment we
now face. This intolerable dependence on foreign oil
threatens our economic independence and the very
security of our nation. The energy crisis is real.
It is worldwide. It is a clear and present danger
to our nation. These are facts and we simply must face
them."
--President Jimmy Carter, July 15, 1979
Brent P
>>Welcome to 1984.
>
> The year '84 wasn't all that bad compared to 2004 to 2008....
No, the book 1984. Economically it's like 1978.
> "Our excessive dependence on OPEC has already taken a
> tremendous toll on our economy and people. It's a
> cause of the increased inflation and unemployment we
> now face. This intolerable dependence on foreign oil
> threatens our economic independence and the very
> security of our nation. The energy crisis is real.
> It is worldwide. It is a clear and present danger
> to our nation. These are facts and we simply must face
> them."
>
> --President Jimmy Carter, July 15, 1979
The danger is the central bank and government interference (in the
market and in the affairs of other nations) which has caused many of
poor economic results. Without US interference Iran and Iraq would be
first world nations with consumer economies. Manufacturing could have
stayed in the US. People would buy oil from them and those dollars would
come back to buy jeans, ipods, etc. But instead, the US federal
government has chosen an interventionalist foreign policy and managed
trade which has resulted in the US importing just about everything and
exporting war, war materials, and political unrest. People are
impoverished overseas and at home. The dollar is backed with guns, and I
have no reason not to believe those guns won't be turned on the people
of the US at some point.
Matthew T. Russotto
Brent P <tetraethylle...@yahoo.com> wrote:
>
>The danger is the central bank and government interference (in the
>market and in the affairs of other nations) which has caused many of
>poor economic results. Without US interference Iran and Iraq would be
>first world nations with consumer economies
Dream on. Contrary to the beliefs of many, there is evil in the world
outside the US.
--
There's no such thing as a free lunch, but certain accounting practices can
result in a fully-depreciated one.
Brent P
> In article <1YydncCXIKvouqnV...@comcast.com>,
> Brent P <tetraethylle...@yahoo.com> wrote:
>>
>>The danger is the central bank and government interference (in the
>>market and in the affairs of other nations) which has caused many of
>>poor economic results. Without US interference Iran and Iraq would be
>>first world nations with consumer economies
>
> Dream on. Contrary to the beliefs of many, there is evil in the world
> outside the US.
Yes there is, the trouble is the US federal government seems to find it
useful.
I am taking the line both nations were on until the US federal
government interfered in their affairs and extending it to
today. Sure there might have been some other interruption from some
other outside force aiding a saddam type person or something....