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 29, 2008 11:05 pm Post subject: Knew bailout wouldn't work but wanted it anyway!
Anyone out there like me who thought that the bailout wouldn't work longterm, but it might buy them a few months.
I'm not yet prepared, but working towards it, and could do with a fe months to execute plans.
Now I'm pretty scared I won't be able to carry out my plans!
Interested to know peoples opinion on bailout related to preparedness. _________________ Live, Love, Learn, Leave Legacy.....oh and have a Laugh while you're doing it!
Joined: Oct 18, 2004 Posts: 2130 Location: kiwibush
Posted: Mon Sep 29, 2008 11:47 pm Post subject: Re: Knew bailout wouldn't work but wanted it anyway!
Quinny wrote:
Anyone out there like me who thought that the bailout wouldn't work longterm, but it might buy them a few months.
I'm not yet prepared, but working towards it, and could do with a fe months to execute plans.
Now I'm pretty scared I won't be able to carry out my plans!
Interested to know peoples opinion on bailout related to preparedness.
I'm not convinced that the markets going to tank just yet. I think when push comes to shove, the majority (around the world and not just the US...and I include those "bad" Muslims in this list) will work their butts off to preserve this seductively decadent way of life. _________________ Bugger me, I hear oil's runnin out mate!
Joined: Dec 07, 2005 Posts: 2025 Location: Australia
Posted: Tue Sep 30, 2008 12:35 am Post subject: Re: Knew bailout wouldn't work but wanted it anyway!
Any chance they "sweet talk" some of the negative congressmen and then present a "revised" version of the bailout that gets approved?
Otherwise I think we will see much more volatility as there is a tug-o-war between market forces and CB's. And not I am not just including Fed Reserve but all those CB's that are keen to reflate whether it be through lowering of rates or other methods.
I am therefore still in the hyper stagflationary camp.
The bailout would have tipped the scale more towards inflation, but in either case they seem hellbent on sacrificing the fiat money for shorter term gains. _________________ It's not a bailout, it's a buy-in" - Nancy Pelosi
Joined: Oct 18, 2004 Posts: 2130 Location: kiwibush
Posted: Tue Sep 30, 2008 1:15 am Post subject: Re: Knew bailout wouldn't work but wanted it anyway!
Micki wrote:
Any chance they "sweet talk" some of the negative congressmen and then present a "revised" version of the bailout that gets approved?
Otherwise I think we will see much more volatility as there is a tug-o-war between market forces and CB's. And not I am not just including Fed Reserve but all those CB's that are keen to reflate whether it be through lowering of rates or other methods.
I am therefore still in the hyper stagflationary camp.
The bailout would have tipped the scale more towards inflation, but in either case they seem hellbent on sacrificing the fiat money for shorter term gains.
I suspect that the Chinese, Russian or Arabs...or a consortium of this group may ride to the rescue in a bid to rescue American capitalism. I simply cannot see these elites accepting the loss of corporate America which, inspite of political differences, is the other risk haven for capital other than Switzerland and in addition, has the military might to defend its status. One wonders just how much lies protected beneath the American umbrella. _________________ Bugger me, I hear oil's runnin out mate!
Joined: Dec 07, 2005 Posts: 2025 Location: Australia
Posted: Tue Sep 30, 2008 8:06 pm Post subject: Re: Knew bailout wouldn't work but wanted it anyway!
Micki wrote:
Any chance they "sweet talk" some of the negative congressmen and then present a "revised" version of the bailout that gets approved?
Otherwise I think we will see much more volatility as there is a tug-o-war between market forces and CB's. And not I am not just including Fed Reserve but all those CB's that are keen to reflate whether it be through lowering of rates or other methods.
I am therefore still in the hyper stagflationary camp.
The bailout would have tipped the scale more towards inflation, but in either case they seem hellbent on sacrificing the fiat money for shorter term gains.
Maybe I was right. Bailout proposition coming back in revised format. This time also bailing out larger bank deposits.
There is also chatter about globally co-ordinated rate cuts. (Maybe won't apply to US if the bailout goes through.)
Quote:
US Senate Democrats and Republicans have agreed to vote Thursday morning, Australian time, on a $US700 billion ($885 billion) financial-rescue plan, amid evidence that voters and lawmakers are regreting the US House rejection of the bailout.
"This is an important accomplishment and a way forward,'' Republican Leader Mitch McConnell said.
The final version of rescue package is still being drafted. Under the accord, announced on the Senate floor, McConnell and Majority Leader Harry Reid have to agree on the language of the legislation before a vote can take place.
Senators plan to include a provision that would raise the limit on federal insurance for bank deposits to $US250,000 from $US100,000 now, a move demanded by some of the rescue plan's critics.
President George Bush and Senate leaders vowed to revive the legislation after the House voted down the package on a 228-205 vote, with 40% of Democrats and two-thirds of Republicans against it.
Article _________________ It's not a bailout, it's a buy-in" - Nancy Pelosi
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