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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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Author Message
  Topic: Senator Jim Bunning OWNS Benny and the Inkjets...
Eli

Replies: 4
Views: 293

PostForum: Economics & Finance   Posted: Tue Jul 15, 2008 8:44 pm   Subject: Re: Senator Jim Bunning OWNS Benny and the Inkjets...
Ron Paul better lay into him, last time he I saw him he did a pretty terrible job of it.
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Tue Jul 15, 2008 7:41 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
Are you guys talking about them nationalizing the oil company's too?
  Topic: Instant millionaires
Eli

Replies: 6
Views: 582

PostForum: Current Events   Posted: Mon Jul 14, 2008 9:47 pm   Subject: Re: Instant millionaires
Had a chance to buy my Grandfathers old stripper wells, they were only producing about 3,000 a month.

Now those same wells would be producing about 20,000.
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 9:42 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
Thats fine, it makes sense.

I hope people find it, I have found it to be one of the better threads.

Lots of good stuff in this thing.
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 2:17 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
I disagree we are just now starting the fear stage.

People in general in the US are not half a scared as they should be about what is happening.
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 1:56 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
Emer if you are below the 100,000 limits you really don't have much to worry about right now.

The FDIC still has you covered, if things get rolling the FDIC gets in trouble and then the dollar real ...
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 12:42 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
Man on the street report of Bank run on Wamu.


[url=http://mrmortgage.ml-implode.com/2008/07/14/physical-run-on-wamu-happening-this-minute/]Bank run reported by Mr. Mortgage

This guy made the c ...
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 12:35 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
CNN is reporting what I was saying earlier.

[url=http://money.cnn.com/2008/07/14/news/companies/washington_mutual/index.htm?postversion=2008071412]Bank run fears hitting Wamu and NCC
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 11:38 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
Spec here is the link

Bloomberg streaming sucks for me so I just read the article.[url=http://www.bloomberg.com/index.html]Front page video
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 11:18 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
Npr and CNN are doing some good reporting on this, Jim Rogers is calling the bailout what it is an "unmitigated failure".

He is also pointing out the fact that it brings into sharp focus the cred ...
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 10:56 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
Agreed Specky Smile

JD no link it came off of News Wire, and the stock is trading again.
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 10:33 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
Spec I disagree, with you.

The Indy Mac story was buried this weekend most National papers did not put it on the front page or barely mentioned it.

The Treasury coming out early Sunday with the ...
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 10:26 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
No not really, your exposure is pretty limited to them.

People banking at WaMu are should be more concerned their balance sheet is terrible and they could easily go under. This was true back when ...
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 10:17 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
Wamu denying they are seeing any unusual depositor activity.

Translation, we are screwed.

down 30% this am.
  Topic: Housing & Economic Collapse - In Progress - #2
Eli

Replies: 1295
Views: 72023

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 10:05 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
NCC bank just halted stocks are now headed south.


edit now denying rumors they are experiencing a bank run, IMHO we are hitting panic levels.

Who in their right mind would keep any money ove ...
 
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