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Yeah, I think we need some more demand destruction with lifting of subsidies in the BRIC economies and a global slow-down to see any decline in commodities. The price drop will come, but not anytime soon. I am watching Fannie get kicked in the fanny and Freddie getting kicked in--well, just ask Jessie Jackson where!
Lets wait and see what China does after the Olympics.
There has to be a bubble in order for one to burst lol
Don't confuse them with facts.
Now Chant with me >>>
This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble. This has to be a bubble.
Now click your heels together three times and you will wake up.
Did you see how the price of crude oil, US dollar, and US treasury notes reacted in unison, not all in the same direction, to today's announcement that the Fed would backstop Fannie and Freddie? A component of the crude oil trade is acting as a bet against the US dollar. There is a bubble in crude oil and the participants are betting that the Fed will be hamstrung by the banking crisis from acting to protect the US dollar.
Did you see how the price of crude oil, US dollar, and US treasury notes reacted in unison, not all in the same direction, to today's announcement that the Fed would backstop Fannie and Freddie? A component of the crude oil trade is acting as a bet against the US dollar. There is a bubble in crude oil and the participants are betting that the Fed will be hamstrung by the banking crisis from acting to protect the US dollar.
I agree. With this housing crisis, its a difficult decision for the Fed. At first thought, I say raise rates and to hell with the irresponsible ignorant people who bought homes they couldn't afford on ARMs, but then that would mean more bank failures which is a path we don't want to go down. I can see the Fed's perspective by focusing on housing, but the dollar and commodities is just a big if not a bigger threat to economic growth than housing is.
The FED is controlled by the same interests who wanted the real estate bubble. They want to protect the stupidity at the expense of the dollar. What do they care if the dollar becomes worthless? It's all debt anyway and inflation cancels out debt, right?
New record high mid day high today. Congress is going to be feelign more heat next week again.
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