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There has been some media buzz recently about the role of oil speculators in pushing up the cost of oil and gasoline again since it's recent fall. It seems like every time there is a feeling of optimism in the business press about a economic recovery the oil speculators will push up the cost of energy.
Once there is a real economic recovery in a few years the cost of oil will shoot way up which of course will increase gasoline costs, and likely hurt our economy again.
Now that the cost of oil is moderate, is now the time to do something about oil speculators in anticipation of an eventual economic recovery? What can be done considering oil is traded all over the world?
There has been some media buzz recently about the role of oil speculators in pushing up the cost of oil and gasoline again since it's recent fall. It seems like every time there is a feeling of optimism in the business press about a economic recovery the oil speculators will push up the cost of energy.
Once there is a real economic recovery in a few years the cost of oil will shoot way up which of course will increase gasoline costs, and likely hurt our economy again.
Now that the cost of oil is moderate, is now the time to do something about oil speculators in anticipation of an eventual economic recovery? What can be done considering oil is traded all over the world?
Still looking for greedy white males upon whom to blame the effects of tree hugger policies like cap and trade?
Maybe next time we should develop our own energy. You know, we could drill off shore and in ANWAR, develop domestic natural gas, build new nuclear plants, coal, synfuel, etc.
There has been some media buzz recently about the role of oil speculators in pushing up the cost of oil and gasoline again since it's recent fall. It seems like every time there is a feeling of optimism in the business press about a economic recovery the oil speculators will push up the cost of energy.
Once there is a real economic recovery in a few years the cost of oil will shoot way up which of course will increase gasoline costs, and likely hurt our economy again.
Now that the cost of oil is moderate, is now the time to do something about oil speculators in anticipation of an eventual economic recovery? What can be done considering oil is traded all over the world?
Suggestion: buy oil futures contracts then, or the options. Or perhaps you'd rather sit around and play the victim.
There has been some media buzz recently about the role of oil speculators in pushing up the cost of oil and gasoline again since it's recent fall. It seems like every time there is a feeling of optimism in the business press about a economic recovery the oil speculators will push up the cost of energy.
Once there is a real economic recovery in a few years the cost of oil will shoot way up which of course will increase gasoline costs, and likely hurt our economy again.
Now that the cost of oil is moderate, is now the time to do something about oil speculators in anticipation of an eventual economic recovery? What can be done considering oil is traded all over the world?
The recession ended June 2009 and the economy is humming along.
Don't you believe your government and your President when they told you that ?
The recession ended June 2009 and the economy is humming along.
Don't you believe your government and your President when they told you that ?
For oil speculators, the economy is great right now. They are bathing in OUR money.
For the rest of us, just when we thought there was a glimmer of hope for the economy it keeps getting worse and worse. Don't worry, the truth will be widely known by the end of this year and the government will have to admit we are in a depression.
Here are some of my predictions, call me out on them if they are wrong at the end of the year.
-Oil will spike above $147/barrel sometime this year. This is likely anytime between Easter and July 4th. Speculators will try to push it to $200 but, barring something unforeseen such as revolution in Saudi Arabia, speculation alone will not be able to sustain those prices, and serious demand destruction will set in before they are able to get it there. Oil will be well below $100/barrel by the end of the year, possibly as low as $50.
-The Dow will have some wild swings going into the summer months. It won't make it to 13,000. When the SHTF it will crash fast, going well below 10,000 and possibly testing the March 2009 lows. I still do not think the Dow has seen its bottom.
-There will be a large bank failure going into late summer that will make Lehman look like cake. The government, due to its debt situation, will not be able to provide the funds for a bailout. This will be the catalyst that will start the collapse.
-GDP will head back into negative territory in Q3 and Q4. Wouldn't be surprised to see double digit losses in Q4 going into 2012
-The Christmas shopping season will be the worst on record. Many long-standing retailers will declare bankruptcy and shutter in late 2011-early 2012.
-U3 unemployment will go back above 10% by the end of the year, hitting as high as 15% in 2012, with U6 testing Great Depression levels
With the fed out of ammunition, I don't see anything that can be done to combat the coming collapse. The market MUST be allowed to correct itself. There is no other option, period. Its going to be extremely painful, but the longer Bernanke kicks the can down the road, the worse its going to get.
Suggestion: buy oil futures contracts then, or the options. Or perhaps you'd rather sit around and play the victim.
everyone of you guys speculating on oil futures should be forced to take delivery a couple of times, that would cure you. If you aren't a consumer of crude oil you should be buy crude oil....
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