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$100.01

Tyler Durden's picture





 

The March Brent Crude contract has just surpassed $100 for the first time since October 2008. Surely nobody is worried about monetary policy and Middle East contagion. After all, this is just throwing darts at the next disinflationary target.

And just to demonstrate how successful Genocide Ben has been at whatever his agenda is, below we present the ICE gasoline contract, which is only relevant for those who drive, use transportation, buy food, ship stuff or travel. Nobody else will be affected. It also confirms that disinflation reigns supreme.

 

 


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Mon, 01/31/2011 - 12:46 | Link to Comment papaswamp
papaswamp's picture

awww ya beat me to it!

Mon, 01/31/2011 - 13:13 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Don't worry.

Ben S. Bernanke said inflation isn't a problem, and if it ever does become a problem again in the future of the world, he's 100% confident he can act to arrest it within 15 minutes.

Scott Pelley, that shining beacon and exemplary model of invetigative journalism, forced that tidbit out of him during his hard hitting interview of The Bernank.

Mon, 01/31/2011 - 13:19 | Link to Comment trav7777
trav7777's picture

he CAN arrest it within 15 minutes.

Just stop the QE and jack up the rates and watch the entire banking system collapse in deflationary implosion

Mon, 01/31/2011 - 13:21 | Link to Comment 66Sexy
66Sexy's picture

looks like we got us a sow here 'stead of a boar

 

http://www.youtube.com/watch?v=1tqxzWdKKu8

Mon, 01/31/2011 - 13:29 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Just stop the QE and jack up the rates and watch the entire banking system collapse in deflationary implosion

Much of the world would enthusiastically welcome deflation, as it has already taken root in their wages but little else (and they care not about McMansions being heavily discounted).

I would enthusiastically welcome a collapse of many of the banks that made idiotic lending decisions, also. That'd be the cherry on top. Let 1/3 of the banks fail, and especially the TBTF ones.

Economic Dawinism would benefit those who were wise enough to not exceed FDIC limits on their deposits in chartered banks, and those with such high balances are in the extreme minority, anyways.

Print on, Hewlett-Ben, Print on!

Mon, 01/31/2011 - 13:58 | Link to Comment pan-the-ist
pan-the-ist's picture

This would result in the middle class losing all of their savings.  I'm all for a strong dose of reality, but it seems to me that hyper-inflation would be more 'fair.'  That way everyone (minus the gold bugs) would loose their wealth.

Mon, 01/31/2011 - 14:11 | Link to Comment Pee Wee
Pee Wee's picture

What savings? 

It's already long gone.  Don't kid yourself.

Mon, 01/31/2011 - 14:18 | Link to Comment pan-the-ist
pan-the-ist's picture

I meant the perception of savings printed on the monthly 401k statement.  Once that is gone it is game over.

Mon, 01/31/2011 - 14:10 | Link to Comment EscapeKey
EscapeKey's picture

Who has access to the freshly printed money during hyperinflation? Why, the elite, of course. Hyperinflation redistributes EVERYTHING to the elite.

Deflation causes everyone with investments (equity, bonds) to take substantial cuts, ie predominantly the elite.

Mon, 01/31/2011 - 14:18 | Link to Comment pan-the-ist
pan-the-ist's picture

This is true, it is already happening through the PDs isn't it?

I guess I was thinking that I would be able to pay off my underwater house and be debt free, where as in deflation my loss in wages / job would put me on the street.  Am I missing something?

Mon, 01/31/2011 - 14:32 | Link to Comment Pants McPants
Pants McPants's picture

I'm all for a strong dose of reality, but it seems to me that hyper-inflation would be more 'fair.'

What an incredibly stupid statement.  Shame on you.

Mon, 01/31/2011 - 14:46 | Link to Comment Head for the Hills
Head for the Hills's picture

It is a valid statement.

Fair == "I getz some...."

Its all in the eye of the beholder.

Mon, 01/31/2011 - 14:36 | Link to Comment trav7777
trav7777's picture

FDIC? Are you on fkin crack, man?

You don't seem to understand what deflationary "implosion" means.  There would be no freakin banking system, no FDIC, no wages, and none of the rest of this shit

Mon, 01/31/2011 - 15:28 | Link to Comment Tric
Tric's picture

In such an event, wouln't PM's get crushed as well?

Mon, 01/31/2011 - 16:31 | Link to Comment faustian bargain
faustian bargain's picture

paper PM's, yes.

Mon, 01/31/2011 - 17:43 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

And I welcome it. Get yer forklifts. Ferrari hunting time!

Mon, 01/31/2011 - 13:30 | Link to Comment Flakmeister
Flakmeister's picture

  Bingo!  And all that easy access to "capital", which should be directed towards infrastructure, energy supplies is not. Why?

  Short term, greedy speculators are to blame to a degree. Long term, the issue is more subtle, but simple in its implications. Capital cannot be invested in energy infrastructure that is economically viable, i.e. the risk-reward is not justified from the perspective of an individual investor. Equivalently, the free-market mantra that high prices will lead to investment to produce more of a good that is demanded had been trumped by physics.  Welcome to the implications of Peak Oil, neo-classical economics has failed.

Mon, 01/31/2011 - 13:55 | Link to Comment whatsinaname
whatsinaname's picture

Well, how do you think TPTB could justify XOM's lofty price ?

All that money forked out at the pump - and now even more of it ?

Mon, 01/31/2011 - 13:26 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

When dumb-asses stop racing around in their huge, jacked up trucks and hemi SUV's, I'll believe deflation is dominant. Until that time, it looks to me that there is plenty of disposable money.

Mon, 01/31/2011 - 13:53 | Link to Comment Blankman
Blankman's picture

I love my suv's, last time I checked I was not a dumbass. Perhaps I am wrong, I will check again. ...... Your right I am a dumbass for driving around in my suv. I bow to a mind far more complex. Thank you for letting me breathe your air.

Mon, 01/31/2011 - 14:14 | Link to Comment lynnybee
lynnybee's picture

 " Your right "     not meaning to be insulting, but, it is  "you're right", as in "you are right " common mistake.

Mon, 01/31/2011 - 14:22 | Link to Comment pan-the-ist
pan-the-ist's picture

you forgot "Dumb Ass!!!"

Mon, 01/31/2011 - 20:35 | Link to Comment saulysw
saulysw's picture

Like this?

Tue, 02/01/2011 - 01:16 | Link to Comment Founders Keeper
Founders Keeper's picture

[When dumb-asses stop racing around in their huge, jacked up trucks...]---InconvenientCou...

Dumb asses? Now that's just mean spirited.

(Ford F250 Super Duty 7.3L Diesel, 8inch lift, 37inch a/ts)

Git 'er done!

 

Tue, 02/01/2011 - 01:32 | Link to Comment cbxer55
cbxer55's picture

Ford SVTF-150 Lightning, supercharged 5.4. Requires minimum 91 octane, gets average 12mpg. I'm keeping it.

Tue, 02/01/2011 - 01:49 | Link to Comment Founders Keeper
Founders Keeper's picture

[Ford SVTF-150 Lightning...]---cbxer55

That'll git 'er done. Nice ride. Guess I won't be waiting for you at the finish line.

 

Mon, 01/31/2011 - 13:23 | Link to Comment Plainview
Plainview's picture

To be fair - if you want to see the disinflation then zoom out a bit on the chart.......

Mon, 01/31/2011 - 12:46 | Link to Comment Alcoholic Nativ...
Alcoholic Native American's picture

SPECULATORS!

Mon, 01/31/2011 - 12:48 | Link to Comment SheepDog-One
SheepDog-One's picture

LOL, yea flooding the world with trillions in new worthless fiat has nothing to do with it.

Mon, 01/31/2011 - 12:51 | Link to Comment Alcoholic Nativ...
Alcoholic Native American's picture

In order to save the world economy, we must place a price cap on crude, and initialize more stimulus based Recoveries.

OIL EXPORTERS WILL BE THRILLED!

Mon, 01/31/2011 - 12:54 | Link to Comment SheepDog-One
SheepDog-One's picture

OH right, price caps are whats needed....frankly I think dunce caps are more in order.

Mon, 01/31/2011 - 13:04 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I don't see the big deal when the ink from Bernanke's printing press substitutes for gasoline.  It has to be refined first of course, but that creates jobs. 

Mon, 01/31/2011 - 13:13 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

Eventually people will be bustin' caps in asses.

Mon, 01/31/2011 - 13:09 | Link to Comment EscapeKey
EscapeKey's picture

For the last time, PRICES ARE NOT INCREASING.   Raw materials are experiencing a quiver in the demand-supply curve frontier as inelastic and elastic market forces have converged in a momentary up .vs. down trajectory.   This is a momentary event, the quiver will soon abate and raw material prices will no longer be experiencing anything - after all, they are inanimate objects

Poe's law applies to economics, too!

Mon, 01/31/2011 - 19:04 | Link to Comment DosZap
DosZap's picture

EK,

Huh?

You smokin crack also?.PRICES ARE NOT going up?

My ass................look in my wallet.

I laughed a couple of hours ago, on the way to the Bank.

There was a Thom Thumb gas island, with $2.79.9 per gal.

Tommorrow it will be $3.00...........after that who knows?.

Want a Red Ruby Grapefruit?, shell out $1.80 ea.

Want a Red Del Apple?, same damn price.

I cannot think of anything that has gone down as far as foodstuffs in 2 yrs.

Mon, 01/31/2011 - 13:23 | Link to Comment scatterbrains
scatterbrains's picture

even if crude prices are lower a lot of marginally solvent peeps in the northeast are fucked with this relentless cold snap with no end in sight, let alone this relentless ramp in crude.

Mon, 01/31/2011 - 16:36 | Link to Comment Cathartes Aura
Cathartes Aura's picture

Thunderbolts on demand

What would a military strategist gain in having an "on-switch" to the weather?

Clearly, it offers the ability to degrade the effectiveness of enemy forces. That could come from flooding an opponent’s encampment or airfield to generating downright downpours that disrupt enemy troop comfort levels. On the flipside, sparking a drought that cuts off fresh water can stir up morale problems for warfighting foes.

Even fooling around with fog and clouds can deny or create concealment – whichever weather manipulation does the needed job.

In this regard, nanotechnology could be utilized to create clouds of tiny smart particles. Atmospherically buoyant, these ultra-small computer particles could navigate themselves to block optical sensors. Alternatively, they might be used to provide an atmospheric electrical potential difference -- a way to precisely aim and time lightning strikes over the enemy’s head – thereby concoct thunderbolts on demand.

Perhaps that’s too far out for some. But some blue sky thinkers have already looked into these and other scenarios in "Weather as a Force Multiplier: Owning the Weather in 2025" – a research paper written by a seven person team of military officers and presented in 1996 as part of a larger study dubbed Air Force 2025.

http://www.space.com/1725-military-weather.html

"weather" - working as intended?

Mon, 01/31/2011 - 23:03 | Link to Comment Pemaquid
Pemaquid's picture

Except those of us who have a wood lot and chain saw.

Mon, 01/31/2011 - 12:48 | Link to Comment HamyWanger
HamyWanger's picture

Well, this is driven by demand. That proves the global economy is back on track, and that it's time to massively invest in stocks.

I've just bought a few more AAPL and NFLX stocks.

Mon, 01/31/2011 - 12:50 | Link to Comment SheepDog-One
SheepDog-One's picture

Yes, the world is demanding ever more worthless Bernank fiat. Makes earningslook 'strong', and fudged storefront appearances are everything in a nation this shallow and stupid.

Mon, 01/31/2011 - 13:44 | Link to Comment 4xaddict
4xaddict's picture

LOL! Thanks Harry, you make me laugh regularly!

Mon, 01/31/2011 - 13:47 | Link to Comment Maiden Lane
Maiden Lane's picture

You've been Hamyfied hehe

Mon, 01/31/2011 - 13:01 | Link to Comment TDoS
TDoS's picture

Economic recovery (return to growth) requires increased demand in crude.  Crude prices will spike, and the recovery will tumble.  Wash, rinse, repeat, and with each sequence, lose a couple million jobs, watch a few nations crumble, etc.

Mon, 01/31/2011 - 13:15 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

Welcome to the oscillation economy. For a glimpse of the future put your head in the washing machine during the agitation cycle.

Mon, 01/31/2011 - 13:22 | Link to Comment Flakmeister
Flakmeister's picture

  I refer to it as the saw-tooth economy.

Mon, 01/31/2011 - 14:03 | Link to Comment TDoS
TDoS's picture

It never ceases to amaze me that the, "More economic activity requires more energy," equation seems to slip past so many supposedly smart people.

Mon, 01/31/2011 - 13:04 | Link to Comment DavidC
DavidC's picture

Ha! You don't get me that easily Harry...erm, Hamy...erm, Harry...

Wah!

DavidC

Mon, 01/31/2011 - 13:11 | Link to Comment mtomato2
mtomato2's picture

Yeh...  He's not even trying anymore.  Like shooting fish in a barrel.  Which, I understand, is suprisingly quite difficult.

Mon, 01/31/2011 - 15:28 | Link to Comment WaterWings
WaterWings's picture

...to clean up after the water leaks all over the floor. Only drunks ever tried it.

Mon, 01/31/2011 - 15:15 | Link to Comment A Nanny Moose
A Nanny Moose's picture

So much for oil plunging today. Or did I mis-interpret your statement that oil was going to fall today.

Open mouth - insert foot.

Mon, 01/31/2011 - 23:08 | Link to Comment Pemaquid
Pemaquid's picture

"I've just bought a few more AAPL and NFLX stocks"

Harry adds dimension to the word masochist. 

Mon, 01/31/2011 - 12:47 | Link to Comment ZeroPower
ZeroPower's picture

..only relevant for those who drive, use transportation, buy food, ship stuff or travel. Nobody else will be affected.

Thats a relief.

Mon, 01/31/2011 - 12:47 | Link to Comment Quintus
Quintus's picture

See!  Ben was right!  More signs of deflation!  Everywhere I look, prices are falling.  Oh no, wait a minute......

Mon, 01/31/2011 - 13:02 | Link to Comment william the bastard
william the bastard's picture

The one place Bernake really wants inflation is in housing and he's not going to get it. Residential real estate has much more pain ahead and many of those real estate related jobs aren't coming back.

Mon, 01/31/2011 - 13:05 | Link to Comment Quintus
Quintus's picture

Quite right.  Basically, anything you own that is dependent on the credit markets to maintain its price (Housing, vehicles etc) is going to go down in price.  Anything you need to live day-to-day is going to go up in price.

The worst of both worlds.  Thanks Ben.

Mon, 01/31/2011 - 13:14 | Link to Comment SheepDog-One
SheepDog-One's picture

Thats right, Bernank is now simply chasing his tail since he's FAILED in his mission of reinflating the housing bubble. Bond and stock pumping is reaching a disastrous precipice very quickly, its all a total fraud and wont benefit anyone.

Mon, 01/31/2011 - 13:16 | Link to Comment docj
docj's picture

Yep - Benron's plans have had precisely the opposite effect on every impacted market.  Which, of course, meant he was a shoo-in for reappointment.

Screw up, move up, and all that.

Mon, 01/31/2011 - 12:48 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

The Bernank should hang for this genocide.

Mon, 01/31/2011 - 12:58 | Link to Comment HamyWanger
HamyWanger's picture

And what's the next step, putting Alan Greenspan into the gas chamber???

I can't believe the extremism of libertarians.

Mon, 01/31/2011 - 13:05 | Link to Comment SheepDog-One
SheepDog-One's picture

Nah, gas chamber is too good for the likes of Greenspan and Bernank.

Mon, 01/31/2011 - 13:10 | Link to Comment AbandonShip
AbandonShip's picture

Hamy you tool, you're not even a real American.  Go back to Canadia or wherever you're really from.  "Sports Class", lol.  Classic.  You'll never live that one down.

Mon, 01/31/2011 - 15:28 | Link to Comment msamour
msamour's picture

I'm from Canada, and I have never heard of "sports class". I've asked older people to enquire what Physical Education used to be called in the 60's, and 70's, and they told me it was called Gym class back then. I would think this person is actually from Europe somewhere, and not Canada. There are not only idiots in Canada just so you know, Thanks.

Mon, 01/31/2011 - 13:10 | Link to Comment alien-IQ
alien-IQ's picture

is it any more shocking than the ruthless idiocy of fascists such as yourself?

Mon, 01/31/2011 - 15:02 | Link to Comment faustian bargain
faustian bargain's picture

I unjunk thee, Hamy. Geez some people just don't pay attention, do they. Or, senses of humor are in short supply.

Mon, 01/31/2011 - 12:48 | Link to Comment oogs66
oogs66's picture

I think its time to start setting small short in stocks.  Sell a bit more into close and the sell more at 9:45 if we open up tomorrow.  Today's bounce makes sense given relief that Egypt didn't crater over the weekend.  Somehow the knowledge that Rome wasn't built in a day doesn't reduce expectation that crashes happen suddenly.  They too take time.

 

Data was mixed.

I think a lot of people are also getting long (and have been getting long) in anticipation of tomorrow's almost certain rally.  Its the first day of the month!  I think too many people are looking at that trend and starting to short now will make money by end of day Wednesday.

Mon, 01/31/2011 - 12:53 | Link to Comment SheepDog-One
SheepDog-One's picture

Oh man I hope everyone is piling in long, certain that their best pal Bernank will provide them with a rally. Someday soon, it simply wont happen and theyll all deserve what they get, trading upon expectations of favorable manipulation.

Mon, 01/31/2011 - 12:50 | Link to Comment Printfaster
Printfaster's picture

Inflation?  No it is just greedy speculators.  Money printing has nothing to do with out of control price increases.

Burn all the speculators at the stake.  They are practicing witchcraft.  We can use one dollar bills to stoke the fire.

 

Mon, 01/31/2011 - 18:38 | Link to Comment Logans_Run
Logans_Run's picture

witchcraft or God's work? Which is it? I'm confused!

Mon, 01/31/2011 - 12:50 | Link to Comment bunkermeatheadp...
bunkermeatheadprogeny's picture

Aww, Tiger's Dubai golf course is no longer being watered.

Mon, 01/31/2011 - 13:37 | Link to Comment tickhound
tickhound's picture

Where's Erin Burnett when Dubai needs her?

Mon, 01/31/2011 - 12:51 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Looks like BDIY might hit 1000 going the other way.

Mon, 01/31/2011 - 12:52 | Link to Comment Pumpanddump
Pumpanddump's picture

Institutions fear of lossing $$'s is greater than their fear of anything else in this world.....greeeeeeeeeeed

Mon, 01/31/2011 - 12:52 | Link to Comment Ferg .
Ferg .'s picture

So much for the WTI/Brent spread compression . Back to $10 .

Mon, 01/31/2011 - 12:53 | Link to Comment Beatscape
Beatscape's picture

Memo from Timmy Turbo Tax to staff: It's time to update the CPI weighting system... more emphasis on flat screen TVs and terrabyte hard drives.

Mon, 01/31/2011 - 13:06 | Link to Comment bingaling
bingaling's picture

That isn't even going to work anymore with labor in China getting a 20% raise to deal with inflation .

Mon, 01/31/2011 - 13:26 | Link to Comment EscapeKey
EscapeKey's picture

Right, but the price of Ukrainian hookers is DEFINITELY going down, so there's your angle.

Mon, 01/31/2011 - 14:02 | Link to Comment bingaling
bingaling's picture

Not true , I married one, fuckin bitch took everything .I will never let my penis make emotional decisions again .

Mon, 01/31/2011 - 14:12 | Link to Comment EscapeKey
EscapeKey's picture

Heh, mine was Czech, I didn't marry her though.

Mon, 01/31/2011 - 14:29 | Link to Comment whatsinaname
whatsinaname's picture

How about some emphasis on KY jelly as well ? Lots will be needed when the turnabout happens..

Mon, 01/31/2011 - 12:53 | Link to Comment bob_dabolina
bob_dabolina's picture

The higher prices we are experiencing and global stability is a direct result of a strong and robust economy world wide. Unemployment remains lofty but we believe as long as we keep prices as high as possible that this number will come down in line with our mandate.

-Ben Bernanke

Mon, 01/31/2011 - 12:55 | Link to Comment Alcoholic Nativ...
Alcoholic Native American's picture

P.S.

Someone buy my underwater house.

Mon, 01/31/2011 - 13:11 | Link to Comment SheepDog-One
SheepDog-One's picture

Real estate only goes up, just like stocks, so just go long everything.

Mon, 01/31/2011 - 13:49 | Link to Comment jus_lite_reading
jus_lite_reading's picture

http://www.truththeory.org/zeitgeist-3-moving-forward/

 

Done. End of Story. Game Over.

Mon, 01/31/2011 - 12:57 | Link to Comment 99er
99er's picture

Carter described Mubarak as a president who has "become more politically corrupt" and "perpetuated himself in office" over thirty years. He said his "guess is Mubarak will have to leave."

http://www.rawstory.com/rs/2011/01/carter-egypts-revolt-earthshaking-mub...

Mon, 01/31/2011 - 13:11 | Link to Comment Beatscape
Beatscape's picture

Isn't that what he said about the Shah of Iran?  You can always count on Jimmy the peanut farmer to be looking after the best interests of the USA. 

As a follow-up to "Palestine: Peace Not Apartheid", he is about to publish "The Middle East: Sorry, Plurality of Shiite Fundamentalism Wins".

Who cares about women's rights anyway...  Majority rules.

 

Mon, 01/31/2011 - 14:02 | Link to Comment Turtlelord
Turtlelord's picture

Say what you like about the man but he's managed something all subsequent presidents aspired to but failed.

...brokered the historic peace agreement between Israel and Egypt in 1978. He brought Egyptian President Anwar al-Sadat and Israeli Prime Minister Menachem Begin together for an agreement that still stands today.

What peace agreements have the others to show for themselves?

Mon, 01/31/2011 - 14:05 | Link to Comment pan-the-ist
pan-the-ist's picture

Right, because in your black and white world, no Shaw means islamic revolution...  I hope the Egyptians install a secular democracy like Iran had before the US interfered and installed their dictator.

Mon, 01/31/2011 - 12:54 | Link to Comment Hook Line and S...
Hook Line and Sphincter's picture

You will ignore Brent, it has no relevance.

You will only focus on WTI.

Very good. You are starting to feel much better. Go back to work now.

Mon, 01/31/2011 - 12:55 | Link to Comment John McCloy
John McCloy's picture

  My girlfriend comes home yesterday and says, " OMG did you see that gas is back to almost $3.50?"

  I laughed and said "Wait till you see it next week it may be back to $5.00"

    She asked why and all I said was," Ben & Egypt"

Mon, 01/31/2011 - 12:59 | Link to Comment SheepDog-One
SheepDog-One's picture

People around me (and Harry) think its all nothing but happy endings, unicorn dew and rainbow glitter dust...closing the Seuz alone should be good for about a $5 pop on gasoline overnite. Of course I guess Ben can just print his way out of it and base more of 'the economy' on I apps and hard drives.

Mon, 01/31/2011 - 13:20 | Link to Comment John McCloy
John McCloy's picture

You think $8.00 if the Suez is closed? Certainly would be better than expected for the recovery I suppose.

Mon, 01/31/2011 - 15:08 | Link to Comment TruthInSunshine
TruthInSunshine's picture

When people ask me why prices are rising, I tell them it's Ben Bernank's price-stability fairies at work.

 

Mon, 01/31/2011 - 12:55 | Link to Comment Xibalba
Xibalba's picture

What inflation?

Mon, 01/31/2011 - 12:56 | Link to Comment Coming Down in ...
Coming Down in Powdery Sparks's picture

I would humbly like to offer a song....March Like an Egyptian

 

http://cretincountry.blogspot.com/2011/01/march-like-egyptian.html

Mon, 01/31/2011 - 12:57 | Link to Comment bob_dabolina
bob_dabolina's picture

HarryWanger said appl would be higher by 2% today. He is right in that apples are 2% higher today, like they are everyday along with everything else that I buy.

Mon, 01/31/2011 - 13:12 | Link to Comment HarryWanger
HarryWanger's picture

Yep. Said stocks would start on lows and straight up. Seems to be the easy call today. Also, AAPL at 1% and climbing. 

If you guys would get your collective head out of the sand and pay attention to how this game works, you'd be making money. Instead you get caught up in stories, that may be important for a day or two but have no long term affect. Pay attention and take what the market gives you.

Mon, 01/31/2011 - 13:20 | Link to Comment bob_dabolina
bob_dabolina's picture

Rice 3.3%

Wheat 2.5%

Cotton 2.2%

Oats 2.0%

Oil 2.0% (5% friday; thats 7% in two days)

 etc

So I own commodities.

You own aapl.

Who is getting a better rate of return? Harry, just pay attention and take what the market gives you. Follow the tape.

 

Mon, 01/31/2011 - 13:18 | Link to Comment Astute Investor
Astute Investor's picture

If you guys would get your collective head out of the sand and pay attention to how this game works, you'd be making money.

I'm too distracted from shopping for small, non-discretionary, home-decor items 24-7.

Mon, 01/31/2011 - 13:20 | Link to Comment digitlman
digitlman's picture

You gonna eat your iPad when the SHTF?

Mon, 01/31/2011 - 13:41 | Link to Comment BorisTheBlade
BorisTheBlade's picture

No, but I'm sure twitter will be full of: "OMG, the Shit Has Hit the Fan" (posted through Tweetdeck for Ipad)

Mon, 01/31/2011 - 13:22 | Link to Comment Prof Gulliver
Prof Gulliver's picture

I believe you also said oil would get "crushed" today, no?

Mon, 01/31/2011 - 13:26 | Link to Comment tahoebumsmith
tahoebumsmith's picture

Just one question Hair? Who got taken out on the dip before the PPT and the POMO pump kicked in? Oh that's right, the majority of stock holders who have no contol over the dips. Then the few privledged insiders ride the coattails of Ben and bring the market back. Only problem with this is only a small percentage of traders are making the dough while the majority gets the shaft. It's called stealth robbery Harry and your nothing but a cheerleader for them.

Mon, 01/31/2011 - 13:39 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Harry Wanger last night:

"Oil, gold will get killed tomorrow. Equities will start slow and make strong gains as the day progresses"

Let the score board show as of 12:28:

 

Stocks up less than .5%

Oil - UP solidly

Gold - down $3 and change - HARDLY KILLED

 

Conclusion - any anal-pore can guess about markets any given day, and like any blind pig, can get lucky on some - but the day isn't over yet for equities

Mon, 01/31/2011 - 14:12 | Link to Comment Bill Lumbergh
Bill Lumbergh's picture

Gutsy call Harry...the Russell 2000 is still looking anemic and just working off oversold conditions...to call the correction over is a bit premature.

Mon, 01/31/2011 - 22:33 | Link to Comment Temporalist
Temporalist's picture

"And oil will get crushed tomorrow. Mark this post"  Harry Douchebag 1/30/11

http://www.zerohedge.com/article/goldman-what-happens-oil-egypt-contagio...

 

How's that going for you asswart?

Mon, 01/31/2011 - 12:57 | Link to Comment Alex Lionson
Alex Lionson's picture

As long as IPhones, I-Pads, I-Mats etc do not increase in price there is no inflation in the (Un)United Kingdom of America.

Mon, 01/31/2011 - 12:58 | Link to Comment Alcoholic Nativ...
Alcoholic Native American's picture

I live right next to a military base.

Some heavy bombing going on.

Mon, 01/31/2011 - 13:02 | Link to Comment SheepDog-One
SheepDog-One's picture

Im sure its nothing, probably just testing out those new rainbow glitter bombs.

Mon, 01/31/2011 - 14:09 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Funny! 

ORI

Mon, 01/31/2011 - 16:03 | Link to Comment UGrev
UGrev's picture

being dropped by pilots of the wing aptly named "The Flying Unicorns".

Mon, 01/31/2011 - 12:59 | Link to Comment cougar_w
cougar_w's picture

Gas around here ($3.45) is already nearing the records from the last melt up in oil (~$4). People are willing to pay these prices, so they should. It will keep going up forever now no reason for Big Oil to hold back.

I don't pay it myself; I ride a bike and use transit.

Mon, 01/31/2011 - 13:03 | Link to Comment SheepDog-One
SheepDog-One's picture

Well people are 'willing to pay it' I suppose as long as the unemployment and food stamps keep rolling in to about half of americans. Higher prices historically mean nothing as we all know, people have plenty of money.

Mon, 01/31/2011 - 13:07 | Link to Comment Hook Line and S...
Hook Line and Sphincter's picture

I sometimes find myself now riding other people's bikes.

Lock cutters in a time of oil inflation are invaluable.

Mon, 01/31/2011 - 13:29 | Link to Comment hedgeless_horseman
Mon, 01/31/2011 - 14:35 | Link to Comment Hook Line and S...
Hook Line and Sphincter's picture

Your bike is next Hedgeless!

Mon, 01/31/2011 - 14:04 | Link to Comment bingaling
bingaling's picture

So is a small mobile sump pump

Mon, 01/31/2011 - 13:22 | Link to Comment trav7777
trav7777's picture

"Big Oil" does not set the fuckin price of crude

Mon, 01/31/2011 - 13:25 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

I looked into transit to save on gas. I live about a ten minute drive from work, but if I took the bus it would take me over an hour to get to work and it would cost more than the gas. Plus, I'd be walking about a mile from the nearest bus stop to the job. The caveat in my situation is that it's a suburban area, and suburban transit generally sucks as opposed to dense urban routes. Otherwise I'd gladly take it to save on gas.

I have a bike also, and there are some bike lanes in this area, but you'd have to be feeling suicidal to ride a bike on the roads around here. Three lane suburban streets inhabited by people who think they are on the freeway, yapping on cellphones.. fuck that.. I'd like to live.

Mon, 01/31/2011 - 13:52 | Link to Comment cougar_w
cougar_w's picture

I take the lane. No problems.

Of course they don't like it. But they stay in their metal shells all the same. I keep waiting for one of them yeast-boys to get out and have words with me. So far, nothing. I may starve at this rate.

Mon, 01/31/2011 - 15:32 | Link to Comment WaterWings
WaterWings's picture

lulz

Mon, 01/31/2011 - 13:36 | Link to Comment Milestones
Milestones's picture

Hmmm- Exxon profits up 53%. Kinda follows huh!   Milestones

Mon, 01/31/2011 - 13:53 | Link to Comment cougar_w
cougar_w's picture

If you buy their stock you can get in on the profit taking, it's like getting a discount at the pump.

Mon, 01/31/2011 - 13:04 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

<< Speculators!>>

<<Print billions of fiat and dilute and blah blah blah>>

<< Demand must be up!! >>

 

Not a word.  Not a single word about suspect production rate, aka supply.  This mindset is going to kill a lot of people.

Last year . . . two of the past three years oil has been above $90 (WTI).  Guess what, sports fans.  It's now three of the last four years.  One of them was 2008, and no, there was no explosive demand in 2008.

 

Mon, 01/31/2011 - 13:09 | Link to Comment SheepDog-One
SheepDog-One's picture

Demand for gas is about the most flatline non volatile thing around.

Mon, 01/31/2011 - 13:20 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Gas as in gasoline.  It does vary from flat, though, correlated to GDP.

It is VERY price inelastic.  You need enormous price changes to lower demand.  People have to spend on gasoline -- clearly even more than they have to pay mortgage payments, or credit card payments, or damn near anything else.

At some point people will understand.  The problem is supply, and that's forever.  And no, the answer to the problem is NOT to burn less.  Burn all you want.  Burn it before the Chinese do.  It's not going to matter.  Conservation won't help so don't do it.  The Chinese won't, so neither should you. 

Mon, 01/31/2011 - 14:28 | Link to Comment baddress
baddress's picture

There's plenty of oil in the USA, you're just not allowed to drill for it and get it out of the ground. So go ahead and burn all you want until the rest of the world runs out of crude. Then the USA can start their pumps up and sell oil for $1,000 a barrel. Happy days are here again!

Mon, 01/31/2011 - 13:25 | Link to Comment trav7777
trav7777's picture

man, I been sayin this for years...the lengths people will go to in order to avoid facing the even bigger elephant in the room...

It's as if people believe that because we had a 150 year run of increasing oil supply, it simply MUST be a permanent condition or something.  We are ENTITLED to oil at 25/bbl

Mon, 01/31/2011 - 13:30 | Link to Comment Tortfeasor
Tortfeasor's picture

I seem to remember a sporting event in China sometime in 2008 that had some low-level worldwide coverage, with a corresponding increase in price of oil.  But of course, no explosive demand for anything from China in 2008, you must be right.  I might have mixed up the years.

Mon, 01/31/2011 - 14:15 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

No, you are correct.  That is a valid suggestion.  It's wrong, but absolutely valid.

In the first half of 2008, global oil price rose.  China, however, capped the price of refined products inside the country.  The result was refineries literally shut down.  They were losing money on gasoline because of the price cap.  This caused great problems for the Beijing Olympics, which were solved largely with public transport.  The result was that in the weeks prior to and during the Olympics, Chinese consumption (demand) was actually down.

Only after the global prices fell, as that oil price spike (and other factors) destroyed demand, did the Chinese release the domestic gasoline price cap and see their usual demand.

Total Chinese oil consumption for 2008 was up 12% from 2007.  This was in line with their 8-15% increases registered in the previous 5 years.  That rate of increase, of course, slowed in 2009.

So, your suggestion is valid, but not definitive.

Mon, 01/31/2011 - 13:34 | Link to Comment Flakmeister
Flakmeister's picture

  I repeat what I said above:

 

Bingo!  And all that easy access to "capital", which should be directed towards infrastructure, energy supplies is not. Why?

  Short term, greedy speculators are to blame to a degree. Long term, the issue is more subtle, but simple in its implications. Capital cannot be invested in energy infrastructure that is economically viable, i.e. the risk-reward is not justified from the perspective of an individual investor. Equivalently, the free-market mantra that high prices will lead to investment to produce more of a good that is demanded had been trumped by physics.  Welcome to the implications of Peak Oil, neo-classical economics has failed.

Mon, 01/31/2011 - 14:44 | Link to Comment trav7777
trav7777's picture

yep. Wanna know why it failed?  Bc economists know fuckall about physics.  They *assumed* (they literally did) that energy inputs would and could grow forever.  Seriously.

The entire study of economics occurred within a FISHBOWL.  It only has relevance in THIS particular climate.  It's a cargo cult.  It'd be like studying weather patterns during a pattern of increasing solar activity - EVERYTHING would seem one-way.  Without knowledge of the sun's cyclical nature, one might assume temperature would go up forever.

Economics came of age in the fishbowl of sustained growth in energy production. That is like the canvas it's painted on

Mon, 01/31/2011 - 14:51 | Link to Comment Flakmeister
Flakmeister's picture

 Yeah... Sorta sad, isn't it? I try not to get angry, just even.

Mon, 01/31/2011 - 13:02 | Link to Comment BorisTheBlade
BorisTheBlade's picture

It spells "greedy speculators", "oil price controls", "taxes on financial speculations", not "inflation created by the Fed expansionary monetary policy". 

Mon, 01/31/2011 - 13:02 | Link to Comment Alex Lionson
Alex Lionson's picture

And after all this the banksters are trying to convince the public that Gold is sucks?

Mon, 01/31/2011 - 13:03 | Link to Comment alter ego
alter ego's picture

Strange things are happening in the last hours (beside Middle East Revolutions and Potential Mega Typhoon in Australia).

Please see:

1) Is Something Serious Up at Treasury?

http://www.economicpolicyjournal.com/2011/01/is-something-serious-up-at-treasury.html

2) Clinton convenes mass meeting of U.S. ambassadors

Top envoys from America's 260 embassies, consulates and posts to meet Monday

http://www.msnbc.msn.com/id/41349708/ns/politics-white_house/

I don't know you, but me think something serious is brewing.

     Just food for thought, fellas!

 

 

Mon, 01/31/2011 - 13:07 | Link to Comment SheepDog-One
SheepDog-One's picture

Looks like theyre scrambling behind the scenes! Good! Hope theyre all freaking out about something big. Threats of a closed Suez would do it.

Mon, 01/31/2011 - 13:25 | Link to Comment fallingman
fallingman's picture

 1) Is Something Serious Up at Treasury?

Anonymous said...
Sorry, "Source?", is my minimalist way of saying, "I checked the Treasury Press Center and there's no such story, please provide a link to the source which legitimizes the post".

http://www.treasury.gov/press-center/Pages/default.aspx

Mon, 01/31/2011 - 13:03 | Link to Comment NOTW777
NOTW777's picture

WLL and SU

:)

Mon, 01/31/2011 - 13:06 | Link to Comment william the bastard
william the bastard's picture

WLL BEXP NOG OAS CLR = Bakken Play. Do some homework.

Mon, 01/31/2011 - 14:25 | Link to Comment Flakmeister
Flakmeister's picture

Yep, there are some great plays in the Bakken, made an 8-bagger in KOG...

But from a national or global perspective, the Bakken don't mean shit in terms of increasing supply, but it is better than nothing.

Mon, 01/31/2011 - 15:02 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

It's not much.  I am not quite sure if it's better than nothing.  A lot of morons will depend on it and get their kids killed.  Nothing . . . if there were nothing there for morons to imagine to be significant . . . their kids might live.

Mon, 01/31/2011 - 15:07 | Link to Comment Flakmeister
Flakmeister's picture

   Fair enough, no need to quibble.

Mon, 01/31/2011 - 13:03 | Link to Comment americanspirit
americanspirit's picture

YASNY

Mon, 01/31/2011 - 13:08 | Link to Comment carbonmutant
carbonmutant's picture

And the BDI is down to 1107 in our growing economy...

Mon, 01/31/2011 - 13:13 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Pay not attention to the things that matter. Just remember, the Fed "is unsinkable" and that in turn indicates, the whole F'ing world "is unsinkable!"

 

Mon, 01/31/2011 - 14:45 | Link to Comment Flakmeister
Flakmeister's picture

  Did it ever occur to you that global shipping capacity increased faster than the underlying trend?

Mon, 01/31/2011 - 13:08 | Link to Comment Salinger
Salinger's picture

any charts for the coming blizzard?

Mon, 01/31/2011 - 13:13 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

$100.80 on a nice little green candle.  Looks like it might stick.  Remember when it was $72.50 way back in August?  Glad I am not an airline, or a bulk shipper.

Mon, 01/31/2011 - 13:28 | Link to Comment BurningFuld
BurningFuld's picture

Or car owner.

Mon, 01/31/2011 - 13:11 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Now that the world has gone mad, I am actually betting that the uprising in Egypt will take Europe by storm next. This fraudulent activity Ben is committing does indeed have unintended consequences. As they say,

 

Somethings gotta give...

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