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Car Forum / Driving, Maintenance, Tuning / Driving / May 2008There is no shortage of oil.
http://biz.yahoo.com/ap/080516/oil_prices.html <...> "Still, Saudi Arabia, the world's largest oil producer, does not see enough demand from customers to increase oil production, the White House said Friday morning." <...> "Shum said oil is still seen as a better bet than investors' other options." <...> -------- Oil is the replacement for the housing bubble that took out the financials when it burst. Thank the federal reserve. >http://biz.yahoo.com/ap/080516/oil_prices.html > [quoted text clipped - 16 lines] > >Thank the federal reserve. No surprise there. The dollar hasn't been worth the paper its printed on against the Euro or the Pound Sterling for a long time (since about the time that sh.t for brains appointed that other sh.t for brains as chairman of the federal reserve). OBTW, how do you like this little bit of statictical manipluation from the bureau of labor statistics: http://in.biz.yahoo.com/080514/137/6tq8x.html Only someone in the bush administration could say something like gas prices actually went down last month. -- "That's interesting. I hadn't heard that. ..." --George W. Bush on the prospect of US$4.00 gas > No surprise there. The dollar hasn't been worth the paper its printed > on against the Euro or the Pound Sterling for a long time (since about > the time that sh.t for brains appointed that other sh.t for brains as > chairman of the federal reserve). The thing is basically anyone who followed greenspan was going to have to face this. It's not so much that the central banker is stupid but that central banking is going to fail. There is no way a central management can ever be subsitute for the entire aggregate of the population. Now some accuse me of being off topic and that I should go to political forums, so I'll point out the link to driving. It's when I learned that practically everything that government does and teaches us with regard to driving is wrong that I began to see it in other places. It's the same thing over and over again. Since they muck up something as simple as driving, odds are they'll muck up everything with the same ideas, same motives, and same mentality. The point is we know that if we take the decisions everyone makes with regards to speed on a road we can find the safe speed of the road. Not by declaration of the elected, not by the neighborhood busy body, but by the result of many individual decisions. The same is true with regard to interest rates, markets, etc and so forth. When the government or other central control starts trying to manipulate things, disasters occur because people make incorrect decisions because the environment they are making their decision in is distorted. Greenspan fixed very low interest rates. The result was careless lending, the bubble of higher housing prices, and the bubble bursting. The idea of central banker declaring what the interest rate should be is no better than some elected office holder doing the same for the speed limit. Both are trying to pick numbers to modify people's behavior and both will cause problems trying to do that. > OBTW, how do you like this little bit of statictical manipluation > from the bureau of labor statistics: > http://in.biz.yahoo.com/080514/137/6tq8x.html "Overall, the consumer price index rose by a smaller-than-expected 0.2 percent in April. So-called core prices, which strip out food and energy costs, were up just 0.1 percent, half the increase that analysts had forecast." Not on this planet. Although the computer I bought back in sept has been replaced by a model with more ram a bigger hd, and costs about $350 less.... oh wait, the computer business is one with little government interference! Food, fuel, medical care, etc are a full of government interference.... > Only someone in the bush administration could say something like gas > prices actually went down last month. Welcome to 1984. >The same is true with regard to interest rates, markets, etc and so >forth. When the government or other central control starts trying to [quoted text clipped - 3 lines] >careless lending, the bubble of higher housing prices, and the bubble >bursting. And what has the current central banker been doing in the mean time? he has cut interest rates even further, flooding the world market with US dollars and devaluing the US dollar to near worthlessness. Hence, part of the reason for the huge run up in the price of oil in US dollars. >The idea of central banker declaring what the interest rate should be >is no better than some elected office holder doing the same for the [quoted text clipped - 10 lines] >energy costs, were up just 0.1 percent, half the increase that analysts >had forecast." "Strip out food and energy prices," the two very things that people buy the most of. Another nice bit of statistical manipulation by the US Government to make things look better than they really are. Would be interested in knowing what the inflation rate would *really* be if food and energy were included as they should be..... >Not on this planet. Although the computer I bought back in sept has >been replaced by a model with more ram a bigger hd, and costs about >$350 less.... oh wait, the computer business is one with little >government interference! Food, fuel, medical care, etc are a full of >government interference.... Do you buy a computer every week? Didn't think so.... >> Only someone in the bush administration could say something like gas >> prices actually went down last month. > >Welcome to 1984. The year '84 wasn't all that bad compared to 2004 to 2008.... "Our excessive dependence on OPEC has already taken a tremendous toll on our economy and people. It's a cause of the increased inflation and unemployment we now face. This intolerable dependence on foreign oil threatens our economic independence and the very security of our nation. The energy crisis is real. It is worldwide. It is a clear and present danger to our nation. These are facts and we simply must face them." --President Jimmy Carter, July 15, 1979 >>Welcome to 1984. > > The year '84 wasn't all that bad compared to 2004 to 2008.... No, the book 1984. Economically it's like 1978. > "Our excessive dependence on OPEC has already taken a > tremendous toll on our economy and people. It's a [quoted text clipped - 7 lines] > > --President Jimmy Carter, July 15, 1979 The danger is the central bank and government interference (in the market and in the affairs of other nations) which has caused many of poor economic results. Without US interference Iran and Iraq would be first world nations with consumer economies. Manufacturing could have stayed in the US. People would buy oil from them and those dollars would come back to buy jeans, ipods, etc. But instead, the US federal government has chosen an interventionalist foreign policy and managed trade which has resulted in the US importing just about everything and exporting war, war materials, and political unrest. People are impoverished overseas and at home. The dollar is backed with guns, and I have no reason not to believe those guns won't be turned on the people of the US at some point. >The danger is the central bank and government interference (in the >market and in the affairs of other nations) which has caused many of >poor economic results. Without US interference Iran and Iraq would be >first world nations with consumer economies Dream on. Contrary to the beliefs of many, there is evil in the world outside the US.  SignatureThere's no such thing as a free lunch, but certain accounting practices can result in a fully-depreciated one. >>The danger is the central bank and government interference (in the >>market and in the affairs of other nations) which has caused many of [quoted text clipped - 3 lines] > Dream on. Contrary to the beliefs of many, there is evil in the world > outside the US. Yes there is, the trouble is the US federal government seems to find it useful. I am taking the line both nations were on until the US federal government interfered in their affairs and extending it to today. Sure there might have been some other interruption from some other outside force aiding a saddam type person or something.... |
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