Oil's energy contribution has declined by about 12% since 1999. The world's economies have also declined by about 12%. (Using conventional metrics, which are time delayed determinations, this will only be seen in hind sight). The massive destruction of asset values now occurring testifies to it happening.
Peak is well behind us, world economies have peaked and will continue to decline.
Posted: Mon Sep 22, 2008 10:02 am Post subject: Re: It's BUNKER time !!!
This kind of economic breakdown has been decades in the making.
Since roughly the 80's.
Yep, I think I see that train a comin'. _________________ “In the Soviet Union, capitalism triumphed over communism. In this country, capitalism triumphed over democracy.”
[Fran Lebowitz
Posted: Mon Sep 22, 2008 10:42 am Post subject: Re: It's BUNKER time !!!
Asset destruction, commodity bull. Get ready for it. Any price set on a world market for products people need, in an atmosphere of reduced or unpredictable crop yield is going to go up, as the dollar loses value. Highly inflationary. Commodities, once again, along with precious metals, are going to be somewhat of a safe haven for liquidity.
The run-up to 147.00, in oil, may have been a foreshadowing, even if short selling is wrung out of the market.
Posted: Mon Sep 22, 2008 11:40 am Post subject: Re: It's BUNKER time !!!
Eli wrote:
60 trillion in Credit default swaps, are set to explode, yeah bunker time it is. A bailout bill that is set to destroy the dollar, perhaps forever. We are witnessing the Fall of the Roman Empire.
I think you mean a fall of all Empires. No one gets out unscathed. You should know that by now. Ever see what happens to a spiderweb when you cut 1 or 2 of the anchor strands? _________________ "Battle not with monsters, lest ye become a monster, and if you gaze into the
Abyss, the Abyss gazes also into you."
Ammo at a gunfight is like bubblegum in grade school: If you havent brought enough for everyone, you're in trouble
Joined: Dec 02, 2005 Posts: 6786 Location: Oil-addicted Southern Californucopia
Posted: Mon Sep 22, 2008 6:21 pm Post subject: Re: It's BUNKER time !!!
ColonProwell wrote:
jupiters_release wrote:
Zardoz wrote:
roccman wrote:
...I do not want this to happen - but it will...
We're in total agreement as to where this will probably all end up eventually. We only differ on how long it will take to get there. and that may be a decade or two from now.
I am going to add a sentance so we can search for this next year and bring it up again to see how funny this is: willy nilly silly predictions abcxyz 001 made on 9/17/2008 prior to elections..
Okay, see you then. I'm pretty confident we'll still have a functioning society.
But it undoubtedly won't be functioning quite as well as it seems to be now... _________________ "Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
Joined: Jun 18, 2005 Posts: 3985 Location: In a van down by the river
Posted: Mon Sep 22, 2008 7:40 pm Post subject: Re: It's BUNKER time !!!
Quote:
For who would bear the whips and scorns of time,
Th' oppressor's wrong, the proud man's contumely
The pangs of despised love, the law's delay,
The insolence of office, and the spurns
That patient merit of th' unworthy takes,
Posted: Mon Sep 22, 2008 10:27 pm Post subject: Re: It's BUNKER time !!!
timmac wrote:
very little personal debt,,
That might be true as far as credit cards & student loans, but interest only loans for homes were pretty common in the 20s and many went into foreclosure when the depression hit.
We didn't learn the 1st time. The 2nd is going down as well. Will we repeat the same mistakes if we get a chance for round 3? Probably
Posted: Mon Sep 22, 2008 11:59 pm Post subject: Re: It's BUNKER time !!!
Justagirl :
What I mostly meant by little personal debt was not just during the 20's and 30's but at mostly any time in our American history.
Sooo many people are loaded down with debt and many business's as well,, here in Vegas every body has a new car/truck, big house, countless credit cards, paycheck loan stores out number any other business in this town, no wonder we have the highest number of forclosers in the country.
Many things are going to cause more economy problems in the coming months because of our large personal debts, if gas goes back above $4 a gal nation avg and food continues to rise there will be more problems than what our goverment can handle, just wait untill Christmas shopping time when sells are way down and what will happen with places like sears/target/small ma and pop stores/etc, we are only seeing the beginning of somthing bigger.
I Hope I am Dead Wrong,, But lots of folks here in Vegas are really worried about the economy because we survive mostly off the extra $$$ that America spends during vacations and that is the frist thing people cut back on.....
Last edited by timmac on Tue Sep 23, 2008 12:06 am; edited 1 time in total
Joined: Nov 11, 2007 Posts: 122 Location: Portland metro, Oregon
Posted: Tue Sep 23, 2008 12:06 am Post subject: Re: It's BUNKER time !!!
timmac wrote:
Justagirl :
What I mostly meant by little personal debt was not just during the 20's and 30's but at mostly any time in our American history.
Sooo many people are loaded down with debt and some many business as well,, here in Vegas every body has a new car/truck, big house, countless credit cards, paycheck loan stores out number any other business in this town, no wonder we have the highest number of forclosers in the country.
Many things are going to cause more economy problems in the coming months because of our large personal debts, if gas goes back above $4 a gal nation avg and food continues to rise there will be more problems than what our goverment can handle, just wait untill Christmas shopping time when sells are way down and what will happen with places like sears/target/small ma and pop stores/etc, we are only seeing the beginning of somting bigger.
I Hope I am Dead Wrong,, But lots of folks here in Vegas are really worried about the economy because we survive mostly off the extra $$$ that America spends during vacations and that is the frist thing people cut back on.....
Just because Las Vegas residents have lived off of the excess and stupidity of the gluttonous masses doesn't mean they should act in the same manner. You'd think that by living in Vegas, they'd learn not to gamble...but you know what grifters say, "Con men make the best marks."
Posted: Tue Sep 23, 2008 12:17 am Post subject: Re: It's BUNKER time !!!
Freedomslave wrote :
You'd think that by living in Vegas, they'd learn not to gamble...
Your right about that many here in Vegas are addicted one arm bandits,, I know so many that have lost every thing from to much gambling and they steal and beg and go back to the casinos to give them more, the only thing that stops them is death.
I myself can not stand losing more than $20 than I leave,, I only use casino's for the cheaper food and bars..
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