[roccman]

W&G

There is an old saying that “You can’t fight the Fed.” But oil is fighting the Fed. In fact, oil is scoring a knockout, like Muhammad Ali over Sonny Liston. Oil is floating like a butterfly and stinging like a bee — landing body blows and pinning the Fed against the ropes.

Oh...It WILL be different this time.

[MD]

Americans need to figure out how to get by without gasoline.

Yes; you-all are included.

It just won't be there for most of you.

[roccman]

Americans need to figure out how to get by without gasoline.

Yes; you-all are included.

It just won't be there for most of you.

Not possible.

We will not "get by".

YOU will not "get by".

There is no getting by.

What there is ...is what the four horsemen bring...and right now they are at the livery stable being shod.

[Cashmere]

Agreed. Shod, fed, injected with steroids, and the horses are not going to pull a Big Brown.

[cube]

There is an old saying that "You can’t fight the Fed."

*delicate cough*
I think history has shown that ultimately in the end........"the fed" will always lose.

[DantesPeak]

Poster memmel has an interesting concept that commodities, more specifically oil, are money.

This may be an important and correct way of viewing our current monetary situation.

Last year here, I said hyperinflation was possible in the US and many scoffed at the idea. Even now, many say that commodites and especially oil are in a 'bubble'.

That may be a backward way of looking at things. What we have now is a rapid debasement of the dollar's intrinsic worth and inflationary expansion of the money supply at the same time. In these circumstances, things of value - oil - can 'rise' quickly in price. In reality, the 'high' price of oil is our warning a vicious wave of economic deflation is about to begin. But the 'price' of oil could adjust be beginning to go up.

So the worst of all possible worlds, higher prices and falling economies, could be ahead.

[MD]

Americans need to figure out how to get by without gasoline.

Yes; you-all are included.

It just won't be there for most of you.

Not possible.

We will not "get by".

YOU will not "get by".

There is no getting by.

What there is ...is what the four horsemen bring...and right now they are at the livery stable being shod.

dude, see my sig. I'm in optimist mode.

[smallpoxgirl]

So the worst of all possible worlds, higher prices and falling economies, could be ahead.

Seems right on to me. It never made sense to me that oil shortage could result in anything but stagflation. Oil shortage -> decreased economic activity, i.e. stagnation. Meanwhile high oil prices-> high prices of everything else, i.e. inflation. Seems to me that's got to be the ultimate result. Maybe in OPEC countries it would produce garden variety inflation from so much money being pumped into their economies.

[threadbear]

Poster memmel has an interesting concept that commodities, more specifically oil, are money.

This may be an important and correct way of viewing our current monetary situation.

Last year here, I said hyperinflation was possible in the US and many scoffed at the idea. Even now, many say that commodites and especially oil are in a 'bubble'.

That may be a backward way of looking at things. What we have now is a rapid debasement of the dollar's intrinsic worth and inflationary expansion of the money supply at the same time. In these circumstances, things of value - oil - can 'rise' quickly in price. In reality, the 'high' price of oil is our warning a vicious wave of economic deflation is about to begin. But the 'price' of oil could adjust be beginning to go up.

So the worst of all possible worlds, higher prices and falling economies, could be ahead.

I will be so annoyed if oil turns out to be the new gold. S***!

[Plantagenet]

So the worst of all possible worlds, higher prices and falling economies, could be ahead.

Seems right on to me. It never made sense to me that oil shortage could result in anything but stagflation. Oil shortage -> decreased economic activity, i.e. stagnation. Meanwhile high oil prices-> high prices of everything else, i.e. inflation. Seems to me that's got to be the ultimate result. Maybe in OPEC countries it would produce garden variety inflation from so much money being pumped into their economies.

I'm still holding out hope that the US oil sector will remain very active, even if the rest of the US economy goes into the tank.

You already see some local energy booms going on in Wyoming, Utah, and even in the old oilfields of the oil-producing states of Texas, California, Louisianna, etc. We may well see increases in US offshore exploration, for instance. Oilfield jobs tend to pay well, and opportunites exist for everyone from the laborer to the union welder to the trucker driver to the roughneck to highly paid professional.

[seldom_seen]

heh. great quote.

We're burning the candle at both ends. One side rising oil prices. The other side, monetary inflation (an inverse response to our energy situation and the cessation of economic growth).

At the end of the day, all the fed has is a printing press. That's all they ever had. It wasn't so obvious though when money supply growth was more or less inline with economic growth.

Now that energy supply is headed south, and money supply headed north. The gap widens and the curtain is pulled back. Surprise! Your emperors are wearing their birthday suits.

[roccman]

I'm still holding out hope that the US oil sector will remain very active, even if the rest of the US economy goes into the tank.

Well you can still "hope" PA (see my sig line).

That said, I work in the energy field. It is booming.

But when the bottom falls out...and it will...does not matter... we all will go down the shitter still hoping for something anything to ease the pain.

Ain't gonna happen PA.

[Plantagenet]

Hope .... is the worst of all evils because it prolongs the torments of man.

--Friedrich Nietzsche

[roccman]

Hope .... is the worst of all evils because it prolongs the torments of man.

--Friedrich Nietzsche

Mark this day on your calendars PO'rs !!!

PA and Rocc finally agree on one thing!!

[Revi]

Remember what was left in Pandora's box after all the other evils had flown out? Just one thing, Hope...

http://en.wikipedia.org/wiki/Pandora's_box

From the above:
Pandora had been given a large jar and instructed by Zeus to keep it closed, but she had also been given the gift of curiosity, and ultimately opened it. When she opened it, all of the evils of mankind escaped from the jar, although Pandora was quick enough to close it again and keep one value inside- Hope.

[steam_cannon]

Hope .... is the worst of all evils because it prolongs the torments of man.

--Friedrich Nietzsche

Mark this day on your calendars PO'rs !!!

PA and Rocc finally agree on one thing!!

Check!