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My Question HT is how long can they afford to keep doing this? I think they are going to have to come to terms with there own inflation problems. Now they can fudge there numbers alot easier for alot longer than the U.S. can. But if they do that for too long... and when the crack in there economy start to show....you know the dam is going to break soon afterward.
how long can they avoid doing this? let me see. for as long as i can remember and probably as long as you can, everything with a tag on it read "made in china"! the tags still do and we're still buying! can you even begin to fathom how big china's dollar reserves are? let me tell you what they are doing. as we speak they are trying to get rid of every single dollar they ever earned and commodity producers "with their lack of foresight" are still excepting these dollars. when the dollar crashes, and it will crash, they don't want to be left holding the sack
I appreciate the anecdotal story. However, there are people who live check to check and never had money for "extra gadgets". That means more people falling behind, that means less spending, that means a even worsening economy and so on and so on. To wish for higher gas prices (not that it wouldn't happen other wise) is to ignore the over all impact on this nation.
2011/2012 is going to be the real kick in the groins for a lot of people.
when it becomes unaffordable the you walk, cycle, carpool or catch a taxi(not the aircon limosine, the 15 seater taxis they use in africa)
Location: Sitting on a bar stool. Guinness in hand.
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Quote:
Originally Posted by evilnewbie
I am hoping it reaches 4.50 a gallon by July, I bet someone a couple months ago that it will hit that milestone in July... I hope I win the free lunch otherwise I have to buy him a free lunch..
Oil soars on dollar, Energy Department report - Yahoo! News (broken link)
Funny how few people in the media are using the term Peak Oil, those two words no one wants to touch it seems.
Which is to me is a little strange . . . or maybe I am . . . in a Dr. Strangelove sort of way -- need to do a movie -- How I Learned To Stop Worrying and Love Peak Oil.
I have never accused the media of being real bright, and the GRE scores bear that out, although media types get offended when I mention it, but it is the truth.
But once you "get it" all you have to do is beat the oil production shortfalls that are fully known by the model for the next 10 to 20 years -- in whatever business you may be in. Very few business opportunities one can encounter in life have this little risk and this much reward.
If you followed the model from two years ago at around two dollars, you could see that it would be four now, and if there is no major recession, it just goes geometric forward until low bidders who try to stick with oil are washed away.
But if, instead you actively choose to cut oil loose, you instantly win and win big time. For example, just before the turn of the New Year, I could have grabbed a 3/4 ton truck. They have the tax break scam and all for businesses. When shopping -- none and I mean NONE of the 3/4 ton trucks were designed to be Flex-fuel. That means oil/gas only and that means (by Peal Oil model) it is a bad buy. Which was great for me to know that. Saved me $33,000 instantly and more daily by not buying it.
On the other hand, anything you choose that is not oil means you win big time. This is not too difficult. Even a Journalism Major should be able to follow. Play it out further and anything that is aligned to replace oil is A BIG MONEY making winner. If folks would think this through, I really do not see what the stress is
What a convoluded argument. So what you're saying, is that by not buying that Lamborghini today at lunch, because it's not flex fuel I just made $200K? Well at this rate I'll be rich, because I'll consider not buying that Gulfstream V this afternoon and be up another $20M.
Is peak oil true? Of course it is. Ultimately you will peak at some point with every finite resource. The timeline that is being touted by the oildrummers is totally out to lunch though. Fossil fuel will continue to be the most cost effective - but that cost is rising - fuel we have for the forseeable future. There is nothing as of today, we as a species have discovered that delivers equivalent $ for $ punch in terms of energy as petroleum. Until that changes, which it will, we will use oil & gas. We will just pay more for it.
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