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Old 04-30-2011, 07:05 PM
 
106,242 posts, read 108,257,613 times
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Quote:
Originally Posted by freemkt View Post
HowTF can consumers insure against loss?
most folks with any 401k's ,ira's or investments already have. its a given they own exxon mobile and a host of other oil companies in their funds.

you can buy etf's like uso,dbc,gsp and proifit everytime there is an increase. i know for us the amount we are paying extra at the pump, for energy and for food is a fraction of what our nest egg has grown over the same period..
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Old 04-30-2011, 07:17 PM
 
5,760 posts, read 11,521,904 times
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Quote:
Originally Posted by mathjak107 View Post
most folks with any 401k's ,ira's or investments already have. its a given they own exxon mobile and a host of other oil companies in their funds.
Less than half the US have 401k's, IRAs, or investments.

Real deal, if everyone was in on it, no one could get returns above average. No one to screw. Do the math.

Bottom half exists to get screwed by the upper half, it is just not polite to say so. In turn the bottom 3/4's of the world get screwed by US.

It is a beautiful thing.
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Old 04-30-2011, 07:38 PM
 
Location: Parkridge, East Knoxville, TN
469 posts, read 1,172,757 times
Reputation: 382
Oil and most other commodities are priced in US Dollars. When the dollar goes down it makes oil prices go up. The dollar is near a 3 year low. This is only 1 factor, but possibly the most important. Peak oil is coming. Demand continues to rise, and peak oil is coming. You can tell that from the production chart above.
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Old 04-30-2011, 09:20 PM
 
Location: Carver County, MN
1,395 posts, read 2,651,491 times
Reputation: 1265
Quote:
Originally Posted by Philip T View Post
Is the mass of America REALLY this stupid? Really?

I am not slamming you or anyone on that -- But is America REALLY this stupid?
Short answer, yes.
It seems like everyone here in the Mid-west believes, as a cold hard fact, that the shale fracking from the Bakken Field in North Dakota will save us all from these high gas prices. We just need to get more oil out of them dar rocks! Its that dang Obama thats preventing us from gettin to it fast enough!

Never mind that China, India etc are increasing their demand for oil faster than any new field that comes online can produce. Never mind that the worlds huge oil fields are all pretty much in decline. Never mind that is is expenseve to extract oil from this shale and never mind the consequences that it has on the environment. As long as they can drive their shinny new pick-ups (which most of the time is not used for hauling) on $1.50 a gallon gas, everything will be hunkey dorey.
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Old 05-01-2011, 01:52 AM
 
106,242 posts, read 108,257,613 times
Reputation: 79786
Quote:
Originally Posted by Philip T View Post
Less than half the US have 401k's, IRAs, or investments.

Real deal, if everyone was in on it, no one could get returns above average. No one to screw. Do the math.

Bottom half exists to get screwed by the upper half, it is just not polite to say so. In turn the bottom 3/4's of the world get screwed by US.

It is a beautiful thing.
that statistic is meaningless and most likely not even correct depending on who did the study and who is surveyed. of course the reason someone has no savings isnt always because they earn so little either..

if folks are living above their means and not saving thats one issue. if folks chose not to invest but to sit in a bank and cd's thats another issue.

if they dont earn enough to save thats still another issue.

of course you like spinning things into rich vs poor and how everything is the rich mans fault.

to that i say bull!.

those that had a plan, those that saved and those that invested did very well and they aint rich.

just over the last decade ,a decade with 2 back to back recessions and one of the worst decades for investing those that did regardless of income still saved quite a bit.

fidelity saw the average retirement account for those over the age off 55 who contributed from 1/2 to full max jump from 96k to 216k.

2/3 were the employees money and contributions and 1/3 gains.

those that took the time to save and invest have some nice money ,those that didnt for whatever reason dont .
for those that dont its everyones fault but their own. not only that but now take that 216k and divide it by those who dont have anything and didnt even attempt to save and it comes out to the 50k we are all supposed to have in retirement money on average. more bull!... those that saved and invested have alot more than 50k over the age of 55 but its diluted by all those with nothing in that less than 50k number we are all supposed to have.

heres a study that shows its less than 1/3 of americans that have no savings... no one knows what the numbers are so to shoot a statistic like you did is meaningless.

everyone needs to take control of their own financial lives, learn, save ,plan and stop blaming everyone else for their own lack of success.

http://www.e-wisdom.com/news/banking...ses-110210017/

Last edited by mathjak107; 05-01-2011 at 02:06 AM..
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Old 05-01-2011, 02:40 AM
 
3,852 posts, read 12,849,434 times
Reputation: 2529
Quote:
Originally Posted by Philip T View Post
Less than half the US have 401k's, IRAs, or investments.

Real deal, if everyone was in on it, no one could get returns above average. No one to screw. Do the math.

Bottom half exists to get screwed by the upper half, it is just not polite to say so. In turn the bottom 3/4's of the world get screwed by US.

It is a beautiful thing.
So basically you are saying that by me creating wealth I am screwing everyone else????? If I go and drill for oil and hit a massive field that produces 1 million barrels/day then I am pumping that oil at the expense of the bottom half? They are getting poorer? Even though they now have gasoline to put in their car??? What if I employ 5,000 workers to pump that oil? Are they getting screwed? What If I spend my billions on investing in new projects or just random spending? Is everyone I spend the money on getting screwed? If they are then they definitely don't have to buy my products or work for me. They also don't have to work at my investments or selling their goods/services to me. They're all getting screwed after all!! I guess they are better off living on the streets.

and if they don't have investments then its their own fault for living for the day instead of saving for the future.

Quote:
It seems like everyone here in the Mid-west believes, as a cold hard fact, that the shale fracking from the Bakken Field in North Dakota will save us all from these high gas prices. We just need to get more oil out of them dar rocks! Its that dang Obama thats preventing us from gettin to it fast enough!
I think the bigger irony is the fact that we have tons of natural gas that can be purchased at ~2$/gallon that we can put into our cars yet we insist on running our vehicles on expensive gasoline. If gas prices are so high then lets switch over to natural gas. Most big companies have already done it.

Last edited by killer2021; 05-01-2011 at 02:49 AM..
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Old 05-01-2011, 02:48 AM
 
106,242 posts, read 108,257,613 times
Reputation: 79786
get with the program will ya... its the rich that caused everyone not to save a dime.

there will always be those that blame everything negative that happens on someone else or group.. their own financial lack of success will never be their own fault. they will end up doing poorly as well most likely as you produce what you believe.

Last edited by mathjak107; 05-01-2011 at 03:26 AM..
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Old 05-01-2011, 03:40 AM
 
Location: Honolulu, HI
698 posts, read 1,506,886 times
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You know both china and India both have almost added more motor vehicles to the roads than there are people in North America.

Its hard to say the dollar is the main culprit when demand has almost increased another 300 million vehicles.
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Old 05-01-2011, 03:44 AM
 
Location: Ohio
24,623 posts, read 19,108,889 times
Reputation: 21738
Quote:
Originally Posted by Philip T View Post
See the blue portion? That is the real on-land attainable production. That is and has been the lion's share of real oil production. Both in the US and around the world. Notice it has been falling for a few years?
I don't think they understand. Oil wells are connected to main pipelines with feeder lines. Those are usually 6" to 18" pipes (depends on age). Off-shore oil wells do not have feeder lines. The oil is pumped into shuttle tankers which then empty into a larger or tanker, or which go direct to shore and dock at a jetty to unload the oil. That is a very expense operation.

Your cost-per-barrel is much higher for off-shore than on-shore.

Quote:
Originally Posted by le roi View Post
bernanke and krugman say that it is not QE and money printing that is making oil expensive.
That would be correct, and you can look at your own history to prove that.

These people aren't very intelligent, and they are devoid of economic knowledge. They can't comprehend that there are different types of inflation, each with its own cause, and it with its own solution.

It will take years, close to a decade to know if QE will have any inflationary pressure against Real Inflation.

These people are ignorant, in that they don't understand that the US Dollar is not longer the international currency reserve, nor is it the international currency of trade. Many countries are, and have been, trading in Euros, Rubles and Yuan for a decade now.

That is why they Euro is and has been worth more than the US Dollar for the last 10 years, and why the Euro will always be worth more than the US Dollar for the rest of your natural lives: because the world is no longer trading exclusively in US Dollars.
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Old 05-01-2011, 04:43 AM
 
106,242 posts, read 108,257,613 times
Reputation: 79786
Many many central banks around the world merly switched from dollars to tips as a hedge against the dollar falling further.

We are still the worlds primary place to invest but tips dont count as dollars.

As bad as things look in the United States and for the dollar , they look far worse in Europe and Japan, making the yen, the euro and the British pound a much riskier bet in 2011 in my opinion.. an exception maybe the yuan, which is more likely to rise next year as china fights inflation.

Last edited by mathjak107; 05-01-2011 at 04:51 AM..
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