US to cut to 1%

[Jay]

Re: US to cut to 1%

some are not good listeners then when they don't listen they blame others for their own errors.

I don't see any blame in my post and there was none intended. It is only a statement of fact which disputes your offering and which you have twisted into a misunderstanding of what I think and have attributed inaccurate motives to me because of it. You posted the link, so why don't YOU listen to it instead of defensively throwing bombs. Try starting at the 5:20 mark.

My financial decisions are my own.

[metalman]

Re: US to cut to 1%

I don't see any blame in my post and there was none intended. It is only a statement of fact which disputes your offering and which you have twisted into a misunderstanding of what I think and have attributed inaccurate motives to me because of it. You posted the link, so why don't YOU listen to it instead of defensively throwing bombs. Try starting at the 5:20 mark.

My financial decisions are my own.

now i see what you mean. i ignored/forgot about the 'oil stays high' part i suppose i don't own any stocks so don't own any oil. and 'stays high' is relative... $60 ain't exactly cheap. a few years ago $60 was 'bubble' territory.

[phirang]

Re: US to cut to 1%

now i see what you mean. i ignored/forgot about the 'oil stays high' part i suppose i don't own any stocks so don't own any oil. and 'stays high' is relative... $60 ain't exactly cheap. a few years ago $60 was 'bubble' territory.

And now OPEC is panicking and Rogers is down EVEN MORE on his crappy trades.

BTW, did you see rogers on B'berg: very defensive when asked about his P&L ytd! What a jackass!

If we really want to sink oil, let's bring all the bitumen in canada online and start pumping that into the US... sure, capex will suck, but we can flood the market with more oil than our soccermom's know what to do with!

[Jay]

Re: US to cut to 1%

now i see what you mean. i ignored/forgot about the 'oil stays high' part i suppose i don't own any stocks so don't own any oil. and 'stays high' is relative... $60 ain't exactly cheap. a few years ago $60 was 'bubble' territory.

Here is the quote, it is pretty clear to me what he was saying, you all can make your own interpretations:

"Oil prices are rising and they are probably going to stay that way. Anybody who made investments in alternative energy back in the 70's was beaten down by very, very low oil prices throughout the 80's and 90's. That's not going to happen again. A lot of what is going to support alternative energy is the markets reaction to high energy prices."

Again my investment decisions are my own. It is a stone cold fact EJ said get the hell out of equities and into Treasuries and gold. That was absolutely the right call. I followed this advice to a certain extent. Also, this site is partly responsible for the chunk of money I made selling my condo and the savings I make, now that I rent. Yet, I kept a sizable, now crushed piece of my portfolio in energy partly because of this interview and I haven't sold that allocation because I still think he will be right eventually, and because I want to be right also.

[metalman]

Re: US to cut to 1%

And now OPEC is panicking and Rogers is down EVEN MORE on his crappy trades.

BTW, did you see rogers on B'berg: very defensive when asked about his P&L ytd! What a jackass!

If we really want to sink oil, let's bring all the bitumen in canada online and start pumping that into the US... sure, capex will suck, but we can flood the market with more oil than our soccermom's know what to do with!

let's say opec cuts oil production 20%. just as a round number, obviously they'd do nothing like that. implies the price goes up 40%, right? but what of price elasticity in recession? was thinking about this today. the whole dubai shiny city mirage. even if opec manages to keep unit prices at $60 volumes will fall... what, 20% or 30%? total revenue will be waaaay off.

bad news for oil dictators. now i'm thinking of don putin. you think the usa is in a bind? russia can't make a ******* thing but spam, hackers, porn, and oil. so they turn the screws on europe, already f'cked up over their bad em bets.

see, you might think this is dollar positive but any events that lower the incentive for cooperation raise incentives for currency unilateralism. it is not any devaluation that matters per se but the condition of the system. one follows the other.

looking out, all i see is war.

[Jay]

Re: US to cut to 1%

let's say opec cuts oil production 20%. just as a round number, obviously they'd do nothing like that. implies the price goes up 40%, right? but what of price elasticity in recession? was thinking about this today. the whole dubai shiny city mirage. even if opec manages to keep unit prices at $60 volumes will fall... what, 20% or 30%? total revenue will be waaaay off.

bad news for oil dictators. now i'm thinking of don putin. you think the usa is in a bind? russia can't make a ******* thing but spam, hackers, porn, and oil. so they turn the screws on europe, already f'cked up over their bad em bets.

see, you might think this is dollar positive but any events that lower the incentive for cooperation raise incentives for currency unilateralism. it is not any devaluation that matters per se but the condition of the system. one follows the other.

looking out, all i see is war.

I agree that more war is likely on the horizon, but they all better be proxy wars of one kind or other, because the destructive capabilities of the major players are way too powerful to get into anything direct, except by accident. Let's hope cool heads prevail.

[D-Mack]

Re: US to cut to 1%

bad news for oil dictators. now i'm thinking of don putin. you think the usa is in a bind? russia can't make a ******* thing but spam, hackers, porn, and oil. so they turn the screws on europe, already f'cked up over their bad em bets.

I thought the porn thing was a US thing

I'm not sure about the accuracy of this site, but I heard it was a 10 billion $ industry in the US

Country Revenue (Billions)

China $27.40
South Korea $25.73
Japan $19.98
US $13.33
...
Russia $00.25

http://www.internet-filter-review.to...tatistics.html

[Supercilious]

Re: US to cut to 1%

$60 ain't exactly cheap. a few years ago $60 was 'bubble' territory.

C'mon metalman. Only a few months back (if I'm not wrong) you were thinking about oil at $90 as cheap and now you are saying $60 "ain't exactly cheap"??? That is laughable .

( Oh I forgot. Later You were also saying that due to the "Dollar Ratchet" oil will trade between $80 and $90 for a while )

Meatalman, if you want to make a point you need good arguments, personal convictions and feelings are not enough.

[c1ue]

Re: US to cut to 1%

russia can't make a ******* thing but spam, hackers, porn, and oil. so they turn the screws on europe, already f'cked up over their bad em bets.

Well, certainly demand is going to go down somewhat everywhere, but I don't see Europe's demand dropping as much as in the US. After all, Europe oil/natural gas consumption has been very stable for a long time due to very high taxation.

Then there's the pipelines being built to supply China - whatever else, China still has internal need for energy.

The countries that I see really getting hurt are Venezuela and the second tier oil producing, non Arab nations.

[walenk]

Mea culpa

I agree that more war is likely on the horizon, but they all better be proxy wars of one kind or other, because the destructive capabilities of the major players are way too powerful to get into anything direct, except by accident. Let's hope cool heads prevail.

Dear Dr. Pangloss
I'm feeling a bit ornery tonight...
I'm going to stop now, I don't want to interfere with your more important work, searching for an antibiotic to treat the bug up my...
"Yo, Fred. What up?"
[transmission redacted]