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Oil, gang its peak oil. China is using american dollars it has and is bidding up the price. Americans are clueless to this oil mess. Its OVER happy american motoring Nascar sundays will be a thing of the past much sooner than you think. You could be paying 5 to 6 dollars a gallon for gasoline!
OR...the price of gas will go down as it seems to go up and then come down. What will you have to complain about then???
Thats why I posted the links to your guru. The difficulty you have is knowing that if you are right it means pain and suffering for millions. I would not expect you to be altruistic in your investments. I am not. My only question with your strategy is not if it is right or wrong but do you want to be right? If you couldn't wouldn't you prefer to be wrong? Do you want to raise your children in a world where you were right or wrong? I am sure that investment philosophy is great conversation at a party or that without that topic you are fun at a party. My only advice is keep it away from the playground as the soccer moms might use you for a kicking drill
C'mon now. I'm sure those who invest in Wal-Mart, Exxon, and other companies are altruistic investors? Just because it's listed on the US stock market doesn't mean the underlying investment is "altruistic".
Whether I care if I'm right or not is irrelevant to this conversation. A market or economy cannot be "talked up" and no amount of feel good rah rah bullish attitude can help if the system is flawed. Right now, borrowing and consuming at an overwhelming pace will hurt most for years to come. It is unsustainable.
While there'll be suffering for millions, we will grow as a nation from our suffering. The dollar will eventually come back, the housing market a stable one, manufacturing will be revamped, we will regain the time valued tradition of knowing the value of a dollar. No one is entitled to security and prosperity, and freedom isn't free. Freedom from debt, freedom from increasing government intervention in our everyday lives, etc. My parents grew up in a communist country and when I visited family during the regime's rule, I saw first hand how the government offered security in exchange for their liberties. I'm seeing this happen to our country, and the rate at which the exchange is taking place is accelerating.
I NEVER mention my investments at a party. As they say, your investments should be boring, your life exciting. I know people would likely point at me as part of the problem and not the solution and words like "profiteer", "bottom feeder", and other lovely phrases might come my way, just because I acted in a manner that in my opinion is self-preserving for my family and myself. It caters to the lowest common denominator, envy. On an extreme scale, the Jews were accused of profiteering from the Germans during their Weirmar republic's economic catastrophe of the 20's. The Germans' envy against the Jews was so overwhelming and their situation so desperate, they elected a person who promised them prosperity, and the cost was dire to many. What if there were enough people like myself that could convince others to save instead of spend the economy into bankruptcy and perhaps help prevent such an occurrence? Would that now be altruistic? This situation is hypothetical by definition, because if the occurrence was avoided, no one would know. Again, this is an extreme scenario, but it illustrates the point I'm trying to make.
C'mon now. I'm sure those who invest in Wal-Mart, Exxon, and other companies are altruistic investors? Just because it's listed on the US stock market doesn't mean the underlying investment is "altruistic".
Whether I care if I'm right or not is irrelevant to this conversation. A market or economy cannot be "talked up" and no amount of feel good rah rah bullish attitude can help if the system is flawed. Right now, borrowing and consuming at an overwhelming pace will hurt most for years to come. It is unsustainable.
While there'll be suffering for millions, we will grow as a nation from our suffering. The dollar will eventually come back, the housing market a stable one, manufacturing will be revamped, we will regain the time valued tradition of knowing the value of a dollar. No one is entitled to security and prosperity, and freedom isn't free. Freedom from debt, freedom from increasing government intervention in our everyday lives, etc. My parents grew up in a communist country and when I visited family during the regime's rule, I saw first hand how the government offered security in exchange for their liberties. I'm seeing this happen to our country, and the rate at which the exchange is taking place is accelerating.
I NEVER mention my investments at a party. As they say, your investments should be boring, your life exciting. I know people would likely point at me as part of the problem and not the solution and words like "profiteer", "bottom feeder", and other lovely phrases might come my way, just because I acted in a manner that in my opinion is self-preserving for my family and myself. It caters to the lowest common denominator, envy. On an extreme scale, the Jews were accused of profiteering from the Germans during their Weirmar republic's economic catastrophe of the 20's. The Germans' envy against the Jews was so overwhelming and their situation so desperate, they elected a person who promised them prosperity, and the cost was dire to many. What if there were enough people like myself that could convince others to save instead of spend the economy into bankruptcy and perhaps help prevent such an occurrence? Would that now be altruistic? This situation is hypothetical by definition, because if the occurrence was avoided, no one would know. Again, this is an extreme scenario, but it illustrates the point I'm trying to make.
The Economics and Politics forums should be boring, the Raleigh, Durham, CH, Cary forum should be exciting. My problem with some of your posts is they have little to do with the Triangle.
OR...the price of gas will go down as it seems to go up and then come down. What will you have to complain about then???
Vicki
Vicky
Look at the price of crude oil. Its now over 90 a barrel, that equates with over 5 dollar a gallon gasoline this spring or even late winter if we have a good cold spell in the country. This has major implications for the triangle. Gasoline shortages will cause gas lines again and just wait to see what that will do to the housing market down here in the triangle.
Look at the price of crude oil. Its now over 90 a barrel, that equates with over 5 dollar a gallon gasoline this spring or even late winter if we have a good cold spell in the country. This has major implications for the triangle. Gasoline shortages will cause gas lines again and just wait to see what that will do to the housing market down here in the triangle.
My prediction: I do also believe that the price of crude oil is going to plummet in the next couple of years (especially when China suffers a long-overdue recession). The price of oil right now is spurring a lot of investment in exploration, and that's going to likely cause oversupply problems at some point, similar to what we saw during the late 90's. However, the oversupply is not going to be anywhere near as strong as the late 90's, and it's probably going to be followed with considerably higher oil prices than we see even now.
And there's not going to be gas shortages this winter...only really expensive gas. The only reason why we had gas shortages in the late 70's is because there was an actual embargo against the U.S. at the time.
My prediction: I do also believe that the price of crude oil is going to plummet in the next couple of years (especially when China suffers a long-overdue recession). The price of oil right now is spurring a lot of investment in exploration, and that's going to likely cause oversupply problems at some point, similar to what we saw during the late 90's. However, the oversupply is not going to be anywhere near as strong as the late 90's, and it's probably going to be followed with considerably higher oil prices than we see even now.
And there's not going to be gas shortages this winter...only really expensive gas. The only reason why we had gas shortages in the late 70's is because there was an actual embargo against the U.S. at the time.
Peak oil, there will be no oversupply. Those days are over. The mexican field is crashing the north sea field is declining and the big field in saudi arabia is slowing. sorry your response is pie in the sky. Oil is well in trouble and happy motoring nascar style is gonna take a beating. The southern boys are gonna be angry.
This has been a fun thread to follow. You have the "Emperor's New Clothes" crowd vs "The Emperor is Stark Naked" crowd and never the twain shall meet......
High oil prices, now there is a new phenomenon. Let see we can blame the government, other countries, oil companies, but one only has to look in their garages and the distances they travel to school/work/shop to know where the real problem lies.
Just for some perspective on the gas debate. Assume one drives 40 miles a day to and from work and another 10 miles a day for miscellaneous errands. Your vehicle gets 20 miles to a gallon. And you work 5 days a week. 50miles/day x 5 = 250 Miles/week and your vehicle gets on average 20 miles per gallon.
@ $3/gallon It cost you $37.50 / week for gas.
@ $4/gallon It cost you $50.00 / week for gas. That's about a 34% increase per week.
Bottom line is the price of gas will be what it will be.
Hopefully that takes some of the emotion out of $3/gal. gas versus $4/gal. debate.
One only has to look at the drought to combat the increase in gas prices and that is conserve, conserve, and conserve. Figuring out creative ways to stop driving will save you real money.
Dang it......I fell into the bad news trap. kicking carpet under the desk......this is a thread on good news! PLEASE!!!!
Because of the nature of our economy here(RTP, State Gov and the Universities) we are far better off than most msa's. Look at the history of our unemployment rate. Look at home appreciation since 1960. I could go on and on. If this area was a stock, it would have a strong buy on it. Sure we have problems due to growth. But these are good problems. Ask Detroit or Buffaloe or Long Island officials if they would not like to have our problems.
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great post
