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Old 07-11-2008, 10:06 AM
 
Location: Earth
1,461 posts, read 3,743,092 times
Reputation: 893

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Quote:
Originally Posted by Lakewooder View Post
Bubble bursting? Not hardly, as we say in Texas.

"If you don't have an oil well, get one!"
Wishing I owned some drillable land in N Dakota right about now...
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Old 07-11-2008, 10:17 AM
 
Location: America
6,987 posts, read 15,774,855 times
Reputation: 2073
Quote:
Originally Posted by Lakewooder View Post
Bubble bursting? Not hardly, as we say in Texas.

"If you don't have an oil well, get one!"
There has to be a bubble in order for one to burst lol
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Old 07-11-2008, 12:27 PM
 
Location: Lake Arlington Heights, IL
5,479 posts, read 10,678,877 times
Reputation: 2808
Quote:
LOL.......!! Step away from the bong....
Ah, so that's how you ease the pain in the @^$ one feels at the pump.
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Old 07-11-2008, 04:40 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,413,409 times
Reputation: 4544
Quote:
Originally Posted by Kurt View Post
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.
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Old 07-11-2008, 05:34 PM
 
5,090 posts, read 10,049,893 times
Reputation: 3961
Quote:
Originally Posted by Wild Style View Post
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.

What? Not working.

Let's try again . ... .
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Old 07-11-2008, 06:53 PM
 
Location: Great State of Texas
86,068 posts, read 74,813,660 times
Reputation: 27602
Lots of people don't believe in peak oil or that demand has outstripped supply or that China/India have up and coming middle class consumers.

So, we yelled at the oil companies, we yelled at OPEC and now we're yelling at Wall Street.
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Old 07-11-2008, 07:42 PM
 
8,956 posts, read 7,913,041 times
Reputation: 7326
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.
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Old 07-11-2008, 07:54 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,413,409 times
Reputation: 4544
Quote:
Originally Posted by lchoro View Post
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.
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Old 07-11-2008, 08:21 PM
 
Location: Heartland Florida
9,324 posts, read 24,279,525 times
Reputation: 4927
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?
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Old 07-11-2008, 09:11 PM
 
48,509 posts, read 86,231,222 times
Reputation: 18106
New record high mid day high today. Congress is going to be feelign more heat next week again.
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