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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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  Topic: The Great Depression 2
jdmartin

Replies: 19
Views: 1908

PostForum: Economics & Finance   Posted: Fri Jul 18, 2008 9:53 am   Subject: Re: The Great Depression 2
From Wiki:

Marriner S. Eccles, who served as Franklin D. Roosevelt's Chairman of the Federal Reserve from November 1934 to February 1948, detailed what he believed caused the Depression in his memo ...
  Topic: WTH is going on with the markets right now?
jdmartin

Replies: 73
Views: 3051

PostForum: Economics & Finance   Posted: Fri Jul 18, 2008 8:58 am   Subject: Re: WTH is going on with the markets right now?
I do have one little issue with the chart. I'm no expert, but aren't 'demand' and 'supply' supposed to be in synch, so to speak? Or at least very close as portrayed on the left side of the chart?
...
  Topic: GM cancels healthcare
jdmartin

Replies: 80
Views: 3172

PostForum: Economics & Finance   Posted: Fri Jul 18, 2008 8:26 am   Subject: Re: GM cancels healthcare
It's quite a dichotomy, really. On the one hand you've got a picture of people who just bought a brand new, 2008 Chevy HHR, complaining about losing health care benefits that they're receiving $300/mo ...
  Topic: Housing & Economic Collapse - In Progress - #2
jdmartin

Replies: 1387
Views: 77171

PostForum: Economics & Finance   Posted: Thu Jul 17, 2008 10:46 am   Subject: Re: Housing & Economic Collapse - In Progress - #2

Whats the option? I mean really. Let the cash sit? Its only going to take 1 or 2 more failures anywhere to bring the whole house down anyways. So you either take huge chances for huge profits NOW or ...
  Topic: Housing & Economic Collapse - In Progress - #2
jdmartin

Replies: 1387
Views: 77171

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 8:53 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
Completely off-topic, I suppose, but this thread lasted 400 pages total in "Current Energy News". Any reason to move it over here now?
  Topic: Housing & Economic Collapse - In Progress - #2
jdmartin

Replies: 1387
Views: 77171

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 12:49 pm   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.

Hey by the end of the day they may wish that it had been stopped!
  Topic: Housing & Economic Collapse - In Progress - #2
jdmartin

Replies: 1387
Views: 77171

PostForum: Economics & Finance   Posted: Mon Jul 14, 2008 10:28 am   Subject: Re: Housing & Economic Collapse - In Progress - #2
Hmmm....I checked and didn't see National's stock halted - couldn't find more info - any links?
  Topic: Airline Bankruptcy/Merger/Layoffs Thread
jdmartin

Replies: 320
Views: 22887

PostForum: Current Events   Posted: Sat Jul 12, 2008 11:59 pm   Subject: Re: Airline Bankruptcy/Merger/Layoffs Thread
Heres my take on what remains after the dust settles:

Delta(NWA), Continental, American, a combination or parts of United/USAirways, then Southwest, and maybe one or two low cost carriers. They w ...
  Topic: Housing & Economic Collapse - In Progress - #2
jdmartin

Replies: 1387
Views: 77171

PostForum: Economics & Finance   Posted: Sat Jul 12, 2008 9:30 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
anyone in the damn media ask that question?
  Topic: Fortis CEO gets the boot
jdmartin

Replies: 5
Views: 504

PostForum: Current Events   Posted: Sat Jul 12, 2008 9:28 pm   Subject: Fortis CEO gets the boot
[url=http://www.bloomberg.com/apps/news?pid=20601087&sid=aSgzfhmC0LSU&refer=home]Votron gets the boot

Wasn't this the guy that we had the post in here on a couple of weeks ago talking about ...
  Topic: Housing & Economic Collapse - In Progress - #2
jdmartin

Replies: 1387
Views: 77171

PostForum: Economics & Finance   Posted: Sat Jul 12, 2008 9:07 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
“The real outrage is that none of this had to happen,” said William A. Fleckenstein, co-author of “Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve” and president of Fleckenstein Capit ...
  Topic: Airline Bankruptcy/Merger/Layoffs Thread
jdmartin

Replies: 320
Views: 22887

PostForum: Current Events   Posted: Fri Jul 11, 2008 9:32 pm   Subject: Re: Airline Bankruptcy/Merger/Layoffs Thread
Ah, do I smell desperation?

Airline CEOs ask customers for help over high fuel prices

Normal market forces are being amplified by “poorly regulated market speculation,” the airline bosses wrote ...
  Topic: Housing & Economic Collapse - In Progress - #2
jdmartin

Replies: 1387
Views: 77171

PostForum: Economics & Finance   Posted: Fri Jul 11, 2008 9:25 pm   Subject: Re: Housing & Economic Collapse - In Progress - #2
IndyMac's now a carcass. Aside from the fact that a shitload of depositors are now going to see 50% or so return on their deposits, would you deposit your money there knowing it was under federal admi ...
  Topic: IndyMac Bank shut down by Federal Government
jdmartin

Replies: 49
Views: 2760

PostForum: Economics & Finance   Posted: Fri Jul 11, 2008 9:16 pm   Subject: Re: IndyMac Bank shut down by Federal Government
It was announced after market close. FDIC people starting passing out flyers to customers at about 3PM Pacific Time which would be 6PM EST. I know the news release wasn't out until I got home after 6. ...
  Topic: My Car
jdmartin

Replies: 45
Views: 1902

PostForum: Current Events   Posted: Fri Jul 11, 2008 9:34 am   Subject: Re: My Car
I drive a 95 Miata, ~32-36mpg highway depending on how I drive. Wife drives a 07 Ford Focus just like FranktheTank, about the same on the highway. I have an 01 Nissan Pathfinder 4x4 for the winter and ...
 
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