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.
Posted: Thu May 19, 2005 4:04 pm Post subject: Shipping Rates for Coal, Iron Ore Hit 10-Month Low
The Baltic Dry Index which measures shipping costs for bulk materials apart from oil has lost 40% of its value since December. Some commentators regard this measure as one of the most valuable indicators of world economic activity. This rapid rate of decline suggests that a global recession is on its way. At the moment world stock markets do not seem to be reflecting this trend but is only a matter of time until reality bites. When it does watch out.
thanks for the tip. Ball bearing plants seem to echo this trend, when their orders are way down, the economy is usualy headed for trouble in a few monthes or less. _________________ Eickhorn Daggers!
www.pistolanddagger.com
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