We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
Its about time the herd starts thinking about inflation. It seems like usually people think it doesn't really affect them. In fact I bet most people will cheer when the fed comes out with its next big interest rate cut.
Posted: Tue Mar 18, 2008 3:43 pm Post subject: Re: Americans Finally Worried About Inflation
By the time most people catch up to the fact of prices going up, they'll be headed down again. Unfortunately, by then the economy will be so bad, they will be even less able to buy. Well, that's my thesis anyway--first a crackup boom, then, deflation lasting for the foreseeable future.
If I'm right, then when prices are going up, we should be saving for when they go down again. If I follow that strategy and I'm wrong, then I lose a lot of buying power.
Place your bets, ladies and gentlemen! _________________ Local fix-it guy..
Posted: Tue Mar 18, 2008 5:15 pm Post subject: Re: Americans Finally Worried About Inflation
The Western World is slowly waking up to the fact that the guy making a million dollars a year and Joe six pack making 60 grand shouldn't be living the same relative lifesytle... Nice house, couple cars, eating really well, and Disney vactions of course. Why not money is free !
Middle class "Joe" needs to be very afraid. With homes at best not a liquid all of a sudden, and vertually everything inching up in price, inflation probably should keep Joe up at night.
Rest assured though as soon as the masses start fretting about inflation, it will be stagflation that should be on our minds.... but Joe likes being one step behind.
Posted: Tue Mar 18, 2008 8:38 pm Post subject: Re: Americans Finally Worried About Inflation
In Calif*, houses R up to $3 million. Anything under $3 million doesn't sell, so they've been delisted. When builders realized the executive market was booming, they stopped making $1 million Japan towns & focused on $3 million executive mansions. They don't need middle class incomes to sell houses anymore. Executives R scoring, thanks to free credit, subprime & loan bailouts, & leverage to raise prices. Workers & their subprime woes R just getting left behind. _________________ People first, then things, then dollars.
Posted: Wed Mar 19, 2008 1:26 pm Post subject: Re: Americans Finally Worried About Inflation
Too bad they didn't wake up earlier, before Ron Paul lost all hope of becoming the Republican candidate. _________________ "If humans don't control their numbers, nature will." -Pimentel
"There is not enough trash to go around for everyone," said Banrel, one of the participants in the cattle massacre.
"George W. Bush loves poor people. He keeps making more of them." -unkn
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