Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Posted: Mon Sep 18, 2006 11:05 am Post subject: Re: Another record
Back to the subject of oil prices, it's at $64 and rising. I read an analysis on 321 energy that said that it would go up to around $68, drop back again to around $56 and resume climbing. Talk about see-sawing!
Posted: Mon Sep 18, 2006 12:36 pm Post subject: Re: Another record
BurnCalories wrote:
I wonder what would actually happen if Bush held a press conference to cancel the 08 elections, citing "national security". Since he has made the point that he is commander in chief, would there have to be a mutiny in the armed forces to remove him from office? Would federal marshalls do it? I just wonder what the scenario would be.
Well, first off, the chance of that happening are slim and none, but let's suppose for a second that it did. Active duty and reserve military members do not swear allegience to the President. Never have, never will. What they do swear is to "support and defend the Constitution of the United States against all enemies, foreign and domestic." So, in principle, if they understood that the President was in violation of the Constitution then they would be OBLIGATED to act to defend it. Now, as a matter of practicality, how many would truly understand and act on this obligation is a completely different question. _________________ Geko45 - Producer of Doomer Porn
Posted: Tue Sep 19, 2006 10:04 am Post subject: Re: Another record
Geko45 wrote:
Well, first off, the chance of that happening are slim and none, but let's suppose for a second that it did. Active duty and reserve military members do not swear allegience to the President. Never have, never will. What they do swear is to "support and defend the Constitution of the United States against all enemies, foreign and domestic." So, in principle, if they understood that the President was in violation of the Constitution then they would be OBLIGATED to act to defend it. Now, as a matter of practicality, how many would truly understand and act on this obligation is a completely different question.
When is the last time the military supported, defended, or upheld the constitution? If they were to do that, they would have marched on washington a long time ago and arrested everybody. Like I said before: Government employees will not mutiny. They have the second best jobs in the world. Now maybe if you monetized the debt without giving subsequent raises to the soldiers, fed agents, paramilitary police (swat) etc. and quit giving them and their families medical care, there is a very slim chance they would mutiny.
Now to stay on topic. Yes there will be massive volatility as the various PPTs keep shorting oil (and various other commodities) and the price keeps see-sawing between reality and the shorting activity. The see saws will keep swinging bigger and bigger because when you short with printed money it (the printed money) eventually comes back to bid up the commodity again.
There will also be volatility due to "demand destruction" as the economy gets worse, but oil is such an important (and fun
) resource and lower prices will just encourage more consumption. In the future, I wouldn't be suprised to see $10 oil and $150 oil within the same calendar year.
Last edited by max_power29 on Wed Sep 20, 2006 12:06 am; edited 1 time in total
Posted: Tue Sep 19, 2006 9:36 pm Post subject: Re: Another record
max_power29 wrote:
When is the last time the military supported, defended, or upheld the constitution?
You'd be surprised. I was in the military. I and the people I served with (it is service) cared about what we did and why we were doing it. It's not like what you are making it out to be. If a gross violation were to occur, don't expect the militaryto support it. We took our oaths seriously. _________________ Geko45 - Producer of Doomer Porn
Posted: Wed Sep 20, 2006 12:04 am Post subject: Re: Another record
Geko45 wrote:
max_power29 wrote:
When is the last time the military supported, defended, or upheld the constitution?
You'd be surprised. I was in the military. I and the people I served with (it is service) cared about what we did and why we were doing it. It's not like what you are making it out to be. If a gross violation were to occur, don't expect the militaryto support it. We took our oaths seriously.
Joined: Jul 12, 2005 Posts: 249 Location: The Netherlands
Posted: Wed Sep 20, 2006 1:50 am Post subject: Re: Another record
Ontopic:
Nymex Crude Future 61.71 _________________ "In the U.S., fears are so exaggerated and out of control that anxiety is the number-one mental health problem in the country.", Barry Glassner
Joined: Apr 28, 2005 Posts: 3918 Location: West shore Lake Eire, MI, USA
Posted: Wed Sep 20, 2006 4:05 am Post subject: Re: Another record
VinceG wrote:
Ontopic:
Nymex Crude Future 61.71
I find it SHOCKING that months after OPEC announced there goal was $60.00 per bbl that we might actually see that price for a while. They might not be able to set a ceiling any more due to lack of ultimate supply, but by gosh and by golly they sure as heck can still set a floor! _________________ Always appeal to a man's enlightened self interest, you can trust him to look out for himself honestly, It's when you appeal to his Honor or the Common Good that he stops paying attention.
Posted: Wed Sep 20, 2006 6:07 am Post subject: Re: Another record
I'll bet the price hangs around $60 for a while. Some say it will be driven down to $52 before it bounces. I think $60 is a good price. It will allow people to afford their oil this winter. We all have a couple of years to get ready at this price. 2008/09 may not be so forgiving.
Posted: Sun Sep 24, 2006 8:46 pm Post subject: Re: Another record
$59.95 on 321Energy as of 9:30pm cst. I really believe it's going south of $50 before the Nov. election. The Federal Reserve must be beside itself what with the parabolic drop in crude, along with the long bond yield taking a dive likewise. My buddy over at CBOT told me the other day that hedge fund money, for the time being, is fleeing energy like mad. Can't be good news for energy bulls out there. Still glad I bought my Yaris though.
Joined: Apr 05, 2005 Posts: 2606 Location: South of Atlanta
Posted: Sun Sep 24, 2006 10:04 pm Post subject: Re: Another record
I am seriusoly thinking of sinking a bunch of money into an Oil ETF If the price of crude goes below 55. Im talking a good bit of money too. Then watch it ramp right back up to 80 or so and bail.
Posted: Mon Sep 25, 2006 12:18 am Post subject: Re: Another record
Worst OPEC Production cut due to oil price lower then $60...creating huge spike...or they cut quietly without knowledge of the media.
Which is worst?
$80 to bail? I guess you will be looking at more then $100 if IRAN Turkey war breaks out...
The December OPEC meeting going to be a great NEW YEAR present to all investors including those who participated in the "positive news" propaganda that had been damping the news lately.
When finally a "Mission Accomplished" letters starts to comes out, someone will be filthy rich and retired somewhere in the Hawaii Beach...
Joined: Apr 05, 2005 Posts: 2606 Location: South of Atlanta
Posted: Mon Sep 25, 2006 10:06 am Post subject: Re: Another record
I was just mildy speculating about the price, Im thinking 90-100$ may be a better selling point. It will go higher. At some point in the next year or two its going to be painfully evident that depletion and "net oil" are going to have a lot more effect on markets than the immediate threats of Hurricanes and political instability.
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