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The Impact Of Surging Oil Prices On The US Consumer: A Primer
Courtesy of John Lohman
A quick talking point: assuming a pure crowding out, the effective $700 tax on consumers reduces GDP by 0.5% (disclosure, the sensitivity is higher than some on the street who use 2.5-2.75 cents for every $1 in oil).
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Exactly lynnbee.
And they want you that way, until they bleed out any assets you may have: equity, savings, retirement, IRA, cash, anything.
How? Make sure you have to liquidate your assets to pay for healthcare, taxes, gas, food.
At that point having a VPN and the ability to work from home becomes a serious competitive advantage in worker retention. If I was an exec I'd look at developing this capability very quickly if it's not already present.
The people who will get raped in an evironment like this? Call center workers.
Guess that doesn't bode well for the IT's that manage those centers too eh? :(
Actually, I think it doesn't bode well - don't let your kid get sucked into the IT thing.
IM (very humble) opinion, I think the days for IT (thinking of network guys) is over unless you work for a very big company. Smaller companies are using the cloud and software is becoming more user-friendly.
Just kicking this out - like everything else, we will see.
"The people who will get raped in an evironment like this? Call center workers."
How is that?
Hoarding gas.... Bitchez!!
Don't forget to stock up on Sta-Bil too.
It's very hard to hoard gasoline, especially if it has ethanol mixed in. You need a stabilizer mixed in the gasoline IF it's 100% gasoline. If it's an ethanol blend you can't store it at all.
How come you can't store the ethanol blends? And aren't they all nearly blended these days?
ethanol is not only miscible with gasoline, but also water.
you can figure out yourself what happens when you store it ....
In a sealed, metal container (like 55gal drums), it does just fine. I wouldn't recommend plastic jugs, long term.
So define long term? past 6 months? I have been storing gas in high grade plastic jugs recently and have tested 5 gal after 3 months and it was fine. I thought 6 months to a year in plastic was ok as long as you used a stabilizer. Is this incorrect?
Sure....sorry....long term is over a year.
Under that, plastic probably OK if you seal it well, and temperature doesn't get to extreme.
Just Observing
Can't you still buy those large farm gas storage tanks? What are they 100 gallon? 500?
Ya can here, Gully. Local farm co-op sells 300, 500 gallon tanks with a 5' stand on legs so you can gravity feed the fuels.
I have a couple 300gal ones for diesel and gasoline. My 55gal drums get pumped into the bigger tanks as they empty, and then refill the drums for storage.
Great Thanks!
this is what I use atm,
http://www.shoptheoutdoors.com/30-3421331-B000MT94TC-Moeller_Scepter_ECO...
WTF? Has ZH become the harbor for the crazies? Storing gasoline? Are you kidding Judge Judy? Talk about fruitless efforts.... Do any of you crazies put a value on your time?
Good grief! Survivalists.
Good grief - she's back !
Calling Bullshit, Long John.
I regularly store gasoline ( and diesel ) for years ( up to 4 so far ) using PRI stabilizer ( Stabil brand is trash for over 1 year storage ). Been doing it for 15 years now. Plain gas, ethanol mixed gas, doesn't matter. I use 55gal drums, and store in a earth bermed shed WAY away from anything else.
We rode out the 08 spike on sub-2 buck gas, and will ride this one out using low 2 buck gas. This won't work forever, clearly, but it does hedge temporary spikes. Plus if the world ends tommorrow, I've got enough fuel to saw firewood and garden for a LONG damn time.
Thanks for the PRI tip.
Sure Gene. REALLY good stuff. 4 year old gasoline smells/burns like new. They sell PRI-G and PRI-D....only differnce is the -D has an algicide for diesel fuel.....both can be used in gasoline.
Have you checked for water eating away the steel in your 55 gallon drums? How about leakage under them?
15 years, no problems. I DO store them on some special wood pallets ( with side 'wings' ) I use to move them with forks on tractor front loader. And I inspect when empty, repaint outsides as needed ( original paint on most of them is crappy ). DID suck a drum inward once when I left too much air head space in it, and the temperature dropped a bunch.
Edit
Have you ever used a desiccant such as silica gel for adsorbtion of aqueous phases in gasoline storage?
http://www.deltaadsorbents.com/silica-gel-desiccant.html
BTW, I agree on the Stabil. Total crap without an octane booster after a couple years.
If the world end's tomorrow, your gas supply will probably be confiscated either by rogue thieves or by the government. I hope you also have weapons and are ready to defend your stockpile. ;-)
Seriously, Brian....do you HAVE to ask that ?
ahahahaaaaa....
Funny. I'd pay you in PMs to help defend it. I'm sure you won't have a problem finding help.
Bryan
"I hope you also have weapons and are ready to defend your stockpile. ;-)"
You know that only works in the movies.
http://exiledonline.com/war-nerd-apocalypse-never/
When I was a kid there was a crazy old Okie named Cecil who used to dig wells. I haven’t heard about that job in a long time. If anyone lives long enough and has something to pay them with, the last surviving well drillers will be kings. “Here, how about I trade you my daughter here for a well, sir, your honor, your crustiness?”
( I guess we Dousers would be Kings too, and I'm sure the Reiki training helps soothe the pain when the meds run out)
Haha.. yeah, good thoughts on that site I wasn't really serious when I asked about weapons... because small arms are not going to stop a hoard of people or governments from taking what they want from you. If society collapses, it'll be alliances and pacts and gangs that will gain the most, and vigilantes and loners that hoard gasoline that will lose.
But I don't think this scenario will hit the US of A, at least not in my lifetime.
Hope you're not betting on that...
Same here but in much smaller quantities. We have about 3 months worth of our average consumption on hand and rotate accordingly.
+1 on the PRI-G recommendation. A pint of the stuff runs around $20 and treats 256 gallons of gasoline.
Thanks for the PRI tip. Saw it but looked expensive but I guess compared to Stabil it's a bargain. This site: http://pure-gas.org/ lists a number of stations that carry non-blended gas and so far it's been accurate for my locale. I've already updated a few new ones. I find the e-gas just wreaks havoc on small engines and when I use the 'old' gas I have a lot fewer issues. My mileage in the truck also improves on easily measured long highway hauls. Leave it to Congress to 'improve' our lives...idgets...
Basically we are screwed. We depend on other countries to produce our oil and depend on other countries to finance our debt. Now we run our government with fiat currency that is printed out of thin air. When the dollar loses its global reserve status it will be a serious reality check for most Americans and it will happen because of oil. Oil producing countries are moving away from the dollar and setting the stage for its collapse. When this happens it's checkmate for us, nothing we can do about it except start an ugly war that we will never win. The very future of America now relies on support from countries that are starting to turn on us. When they completely dump us and move on to greener pastures, America will be left out in the cold with no way to support itself.
Excellent summary mate - spot on.
We still have domestic oil, just not enough to run all the cars in the country. The suburbs will die a swift, violent death. City centers will see food scares, but no actual starvation. Nobody will drive. Nobody will travel. Airlines will go extinct. The country might become divided for simple logistical reasons; too expensive to export governance 2500 miles on average.
Not good, but not terrible. Survivable, is the key here.
Cities will be worse off. There is nothing in the cities nowadays except financial institutions. In the event of a power outtage, you're stuck in a city with millions of people surrounding you. Even in the best of times the cities are full of crime.
Ben knew this was coming, that's why he and wife only own one car.
Living in a middle class area,I see people filling 5 gallon jug's of diesel at the gas station,purchasing on a daily basis to heat the house
Yeah I see this all the time too. They can't afford the 100 gal minimum for a delivery. I feel lucky that we're going to get through this winter without falling that close to the edge yet thanks to savings, but I'm terrified about next winter.
Buying diesel at a gas station for home heating use would be insane.....you're paying road taxed price to burn at home....
wow....THAT'S desperate !
That's paying for necessities check to check. There are probably 50M+ doing it right now.
That's gross. They pay for that? SVO is more or less free after you buy the filters.
The video is a little out of date (there are good agae diy vids now)
http://www.youtube.com/watch?v=Hoy50APLi_w
Here's an $80 passive solar rig for daytime heat: http://www.youtube.com/watch?v=DusWlsJtVfE
OT: Laughable headline of the day from Yahoo! Finance
http://finance.yahoo.com/news/State-spending-cuts-slow-US-apf-576208717....
"State spending cuts slow US economic growth in Q4"
As if state spending was growth to begin with? Twilight Zone.
...in close competition with this doozy from MW:
U.S. in Best Mood Since '08
or this fucking horseshit:
http://religion.blogs.cnn.com/2011/02/25/adopt-a-terrorist-for-prayer-site-urges/?hpt=C2
I can only imagine what Mr. Carlin would have said about that!
Grave. Spinning.
Anyone else remember when the GI Joe's shrank?
GI Joe's what?
plastics
That's a conversation stopper, Huck. Movin' on.
So I guess he needed some little plastic Viagra's if he was gonna compete with Ken for a shot at Barbie's plasti-beaver?
Has anyone considered that Obama and other 'green' liberals actually WANT the price of oil to go through the roof? It plays right into the enviromafia's hand.
All the married gay couples getting all the energy?
And motown.
Day three in office the US was doing illegal bombing runs into Pakistan and we are now setting the stage for war on multiple other fronts. Why is he a liberal? Enviromafia?
I'm sure all of this is going to play into this guys hands: http://www.youtube.com/watch?v=DusWlsJtVfE
Give it a rest, alternative energy could save your ass if you participated but if you want cling on to the dying cause of oil good luck in the future. Let me guess, you insult the firefighters when they come to rescue you too. Clearly you know nothing at all about alternative energy so you can put your enviromafia back into you Rupert Murdoch idea dumpster (oh wait- you were recycling).
People try to find order in chaos. Obama just wants to destroy.
Pebble bed reactors are alternative energy. Nuclear reactors are simply big steam engines.
Do it, or starve.
I told myself I would just skip over the obvious troll posts but I hate having stupid mis-info posted anywhere. There has NEVER been a nuclear fission project that was profitable - ever. Aside from the obvious associated security and "accident" risks. There probably are safe ways to dispose of nuclear waste and the DOE knows it but won't use it because it isn't profitable - I suppose that's the reason or they make more money selling the waste to the defense industry to poison generations on each side of our manufactured conflicts.
DU: http://www.youtube.com/watch?v=e-VkpR-wka8
Nuc waste cleanup: http://www.youtube.com/watch?v=3NWtX7IZYjM
I thought energy independence was an idea beyond such base concepts as profitability.
It is easy to regulate an industry into being unprofitable.
Oh sorry, I thought this was Zero Hedge. Psst: We're broke. Sustainable alternative energy is currently available, it's safe and affordable. We can start walking upright any time now.
yes, $40,000 of SOLAR PANELS on one sun-belt house reduced family's 'lectric bill from $250+ to $12 (yes, twelve).
Fly into ANY sun-belt city in America, you see (literally) THOUSANDS of homes of stupid hmanoids, SOAKING UP solar radiation as HEAT... while they (somewhere on the electric grid) BURN millions of years of solar energy locked up in fossil fuels to COOL DOWN said homes.... every day of the year (that the temp. gets much above 80)!
SOLAR WORKS FINE FOR the SPACE STATION - which, last I checked, is a REALLY EXPENSIVE PLACE to install solar panels, and, #2. has a VERY, VERY HIGH ENERG CONSUMPTION. What if, INSTEAD of BUILDING A NEW AIRCRAFT CARRIER, we PAID cities, to build carport like parking lots - with solar panels on top?
The treacherous, treasonous Neo-Cons (who CLAIM to be "intelligent," academic, forward looking, etc.) and their knuckle-dragger partners in OBSTRUCTION, are INTENTIONALLY SABOTAGING America's alternative energy progress, so they can make bank on MONOPOLY FOSSIL FUEL prices, which prop up the rational for their SOCIALIZED WARS & mic.
p.s.: that's $40,000 worth of solar panels (about 12' x 6', only!) at TODAY's "hunt the sperm whales, kill 'em, and boil the blubber for our street lamps" prices.
Just imagine if the president of the United States under goddamn-sachs staged a little REVOLT one day, and told Los Alamos, Lawrence Livermore, Sandia labs, and other SOCIALIZED R&D elements of the mic to STOP DESIGNING NEW WEAPONS for a few minutes, and instead come up with some cheap, high-efficiency electro-generating solar films that could be rolled up and unrolled, like the tarps they use to cover baseball diamonds in a rainstorm?!
Oh well, since the usa is now characterized by financial SABOTAGE and economic OBSTRUCTION at the highest levels (wealthy) of govt., press/media, academia, & mic, we will have to wait for the Chinese to do it first.
Just what the hell do you expect of run on 165 watts/ 12 foot section?
Air conditioning is not negotiable.
If it was as easy as one man telling the research labs to do it then why hasn't it been done in other countries that are even more dependent on foreign oil? Why haven't the Germans, Japanese, Koreans, Chinese, Brits, Swedes, Israelis or anyone else been able to do it? Maybe it isn't as easy that an executive order.
I don't care about oil and I don't care about gas, we can survive without them. The big issue about the price of oil, I think, is that people don't want to give up their current standard of living. Maybe it's time to sell the car and buy a bicycle? Shop local for your goods, only buy what you need, only eat what you need, shut off the TV and the XBox, turn down the thermostat in the winter and up in the summer. But this is anathema to our generation. I'm ready to live a simpler and humbler life. Are you? ;-)
Most Americans cannot ride a bike,weather, and temperature kills, and its too damned far to work.
Its too far to the store, you cannot carrry enough of what you need on a friggin bike.Maybe a 2 seater with a small trailer, learn mandarin.
I do what you say already, but at my age, I am not spending the rest of my years riding a frigging bike.
Thinking you can survive without oil, is going to be a shocker.
Just look around your house, and see what you have that is made from petroleum.It will boggle your mind.
"Thinking you can survive without oil, is going to be a shocker.
Just look around your house, and see what you have that is made from petroleum.It will boggle your mind."
You're assuming that I am trying to keep my current standard of living.
1. Go work on a Ukrainian farm for a year.
2. Are you aware of the fate of excess females in a purely agrarian society? Why do you hate women?
Environmentalists who think that high oil prices are going to prevent global warming are deluding themselves. It typically costs $20-$50/barrel to pump oil out of the ground. As long as the price remains above those levels, people are going to pump it out of the ground and sell it. And if the price goes to $200/barrel, they are going to pump and sell even the oil which is currently unprofitable.
Unless someone invents a new clean energy source which is cost-competitive with $20/barrel oil, all of that oil is going to be pumped and burned.
Sorry for knocking you earlier. I've already made most of the switch too. Nothing like having your hand forced though.
Have you stopped using plastics yet? Do you grow, raise or hunt for your own food?
You are crazy - it is not just jumping on a bike:
http://www.harpers.org/archive/2004/02/0079915
I believe in bikes and shopping local but you are missing the bigger picture. Like starvation.
Once again - aaagh!
Every contribution helps. So glad I live in SF, we're miles ahead of most of the rest of the country in sustainable local food. I also think that my farmer friend would pay me (in food) to take some of the deer from her property. Have you seen Monsanto's latest greatest FDA approved disaster?
http://www.i-sis.org.uk/newPathogenInRoundupReadyGMCrops.php
Speaking of Monsanto disasters:
Good news, probable CCD breakthrough in Oregon: http://oregonstate.edu/ua/ncs/archives/2011/feb/pheromone-increases-fora...
Oh, and the Pacific is right out the back door. I love my G Loomis surfcaster. People will do what it takes to make the transition, most just need to get through a few months before they're well on their way. The greenhouse fish video again: http://www.youtube.com/watch?v=jV9CCxdkOng&feature=related
Happy gardening.
Canadian north - nuts, berries, fish and stuff you can catch - family place up north.
I agree with you on Monsanto - not sure how they can be stopped - people have been trying for years.
M
If you think the bay area can self sustain millions of people, you're nuts. No urban area can feed itself with backyard gardens and local farms and fishing. You need fishing trawlers, and food shipped in from hundreds of miles away.
I'm pretty sure Obama just wants to get reelected.
But you're probably right about most of the others.
If that sorry bstd gets re-elected,my family that wants to come is headed out of team USA.
There will be nothing left of your rights, or your earnings,I would be better off in the friggin Andes.
Only in modern America could Nero get a second term.
And what the does this have to do with the current situation? The dude is a puppet, just like the last one. The argument "If Obama wins, I'm moving out of the US!" was as stupid as "If Bush wins, I'm moving out of the US!" Not only does this not happen, but we continued to be duped into thinking that one puppet is better than the other.
Some are worse than others.
Sadly, we don't have to depend on the good will of the oil barons. WE COULD be close to independent if there was the will and the rest well could be handled by nuclear and enviro friendly stuff. Bout TIME!!
US fighter planes land near Libya. War?
http://dawnwires.com/politics/us-planes-land-in-libya-war-in-the-making/
Oh, look, we're sharing our "expertise" with revolutionaries in the breakaway provinces. Aren't we thoughtful. Pure humanitarian concern, I'm sure.
+1 - it's a real fucking shame Darfur doesn't sit on more oil.
British madness...
"Children have been banned from wearing goggles during school swimming lessons for fears they could hurt themselves" - http://www.telegraph.co.uk/education/educationnews/8347956/Goggles-banned-at-school-swimming-lessons.html
This is the nonsense that one gets when the state is out of control. I have seen your future, and it doesn't work.
That is pure crazy. I expect Berkley will follow immediately.
Here are some other examples - http://www.thesun.co.uk/sol/homepage/news/3162365/War-on-health-and-safety-madness.html
Bonkers!
We have been invaded by Progressive socialist/fascists, the Brits Gvt, is completely daft, and the insane shit they foist on their people is unimaginable to me.
How do they get elected?.
I am amazed both countries have not gone total apeshit on the Political systems already.
The quality of a people is reflected in their leaders.
"The quality of a people is reflected in their leaders."
Bullshit.
We don't have "leaders".
We have capos.
So what are you going to do about it.
TD forgat to include the other stuff madewith oil as part of the disposable income equation. It effects more than just gazoline.
Diesel fuel-kerosene-rubber-plastics-egg cartons-etc etc etc as it all ads up-might want to leverage that disposible income increase X 5.
Hey what just happened to my COLA ?
Benkakke drank it...over ice with 20 year-old scotch. Guess who get's the bar tab?
Head of CME just said raising margin requirements on oil doesn't affect volatility.
What a complete assdouche!
I own a Prius and am long energy. Bring it!
Oil,gold, silver, ag and land: I'am long on fear and loathing.
How's this for a sale's pitch?
Build nukes now, you dumb shits, or say goodbye to air conditioning.
Nuclear has a low EROEI.
Kill the lawyers and feed the evironazis to the whales.
Bet that changes.
yeah, right. and DU ammunition doesn't f*** American soldiers (and, to be specific, their children) as much as it does those disposable locals...
Compared to the oil fields of old...but the EROEI is more than adequate and can be improved.
Storing the waste is very expensive. Long term EROEI negative.
Waste is a function of the fuel cycle you choose. There are some cute ideas that do have merit about how to deal with it, but that is the topic of whole other discussion.
Compared to the exchanges that go on here, we are really at the minor quibble level. In the long term, we do have to figure out how to optimize solar and geo-thermal....
Yes, very minor. Long horses and carriages, bikes and skateboards, shoes and wool socks. Hopefully reincarnation proves true, and we get another Tesla, soon.
china wants to make reincarnation illegal. all going against the Lama†
Orderly fashion
1) http://www.mod.uk/DefenceInternet/Home/
http://www.youtube.com/watch?v=lFjDVbGO2rM
2) The funds are expected to be seized within days. The Treasury is understood to have set up a unit to trace Col Gaddafi’s assets in Britain, which are thought to include billions of dollars in bank accounts, commercial property and a £10 million mansion in London.
In total, the Libyan regime is said to have around £20 billion in liquid assets, mostly in London. These are expected to be frozen as part of an international effort to force the dictator from power. A Whitehall source said: “The first priority is to get British nationals out of Libya. But then we are ready to move in on Gaddafi’s assets, the work is under way. This is definitely on the radar at the highest levels.”
3) http://www.nato.int/cps/en/natolive/index.htm
So every monarch and dictator in the world is now on notice to remove all their assets from the EU.
This is a teaching moment.
The lessons to dictators / EVERYONE is keep it in gold, keep it mobile, do not keep it digital or anywhere where "international" bankers can get their greedy fucking hands on it.
Which court convicted him of anything exactly and how are they rationalizing seizing assets without any sort of due process? Worse, if they can do it to a man in control of tanks, guns, missiles and possible WMDs ... they can do it to any common citizen AT WILL.
Some folks are slow. But after ben ali and that ivory coast guy, I think the writing is on the wall.
I expect Queen Elizabeth to move assets soon, just to be safe.
Yes; once they get that there is no more crude forthcoming, they wrap themselves in humanity, wring their hands vigorously and freeze the assets of the awful dictators.
Better have serfs to dig, whoever will take them in.
If they were, are so stupid to think that they would get to keep the gold taken, their insane.
Better have serfs to dig, whoever will take them in.
If they were, are so stupid to think that they would get to keep the gold taken, their insane.
Clear message to douchebag leaders of the world. Keep your stolen assets in gold that you hold.
THIS should be very positive for gold in the future, huh ?
1,000,000 strong Baghdad protest?
The elephant in the room.
Muqtada al-Sadr is also back from Iran. Interesting times.
Haven't seen any reports on proteters - any links?
wish it were as simple as buying miners as the price of gold and silver scroomer screams up. but with awl ripping it makes it dicey re: cogs for said miners. which is why physical is the best for sleepless nights sometimes.
has anyone seen this:
porter stansberry's research called the end of america
http://www.youtube.com/watch?v=nI-BIVWlc7A
what do you guys think?
really -i'm not junk
i mean he takes a big fat swipe at obama and says the cause of the end of america is that oil producing countries will not accept us dollar as reserve currency.
i'm just asking cause zacks.com sent this around in a email i got today.
A rehash of simple concepts we're all more than aware of here.
true. but it wasn't a complete waste of time.
One hour in you discover that it's fucking spam.
i listened to the 1 plus hour presentation. little on which one could disagree. it's logical thinking. time will tell.
for anyone who cares- after scouring he was charged with securities fruad as part of agora and he's a glenn beckian nutjob
Glad this was resolved. Watching the video, I kept thinking (though hoping it was not true) "This is pure Amway."
Natural gas starting it's very reliable 3 month steady seasonal surge. This kind of long (3month) move is good for pyramiding.
kiss the world you know goodbye. It's been a long slow death but we are getting very close to the edge now. Soon what we took for granted will be a luxury.....
So I walk up on high
And I step to the edge
To see my world below.
And I laugh at myself
While the tears roll down.
'Cause it's the world I know.
It's the world I know.
http://www.youtube.com/watch?v=boJ2BT50kFs
A good article that ties into this post:
http://gregor.us/california/data-diving-and-the-federal-reserve-the-poli...
Now it is Iraq turn: 11 killed in mass protests
http://dawnwires.com/politics/now-it-is-iraq-11-killed-in-mass-protests-...
Now DAMITALLANYWAY....we've spent years providing these folks with DEMOCRACY.....what the hell do they want now ?
WTF!? Gas in my area is up 18 cents in a week, but f it. It looks as though I need to hold my nose and BTFD.
The drilling for oil in the USA can be opened up---yes, even off Santa Barbra. Coal reserves in the US are huge; although the low sulfur coal was put into a National Park by Clinton was it not? Nuclear power generation and water desalination is workable and non dependent upon oil.
There are solutions.
Almost quite right. Kaiparowits was put into a national monument. Technically, mining is allowed on national monuments.
What it does do, it allows the politicians and lobbyists to earn their scrap of bread by giving them power over who gets to mine it. Cui bono?
Good work, John. But when should I BTFD?
It really fucking pisses me off how people live in denial. Fucking brainwashed, entitled, all is well and we'll never go hungry mentality is astounding. Sheeple need to wake the fuck up. Hell maybe the crisis is so big that not only every government sponsored economist is going to miss this bubble (standard opp procedure) , but 97% of the population as well. This is insanity.
We live in a world of flat screens. If it didn't happen on the flat screen, it didn't happen.
deleted duplicate
It doesn't matter what happens, because as it has been said, they just change the rules when it's no longer convenient. A rising oil price is a sign of recovery! When facts are no longer convenient, they change the story. I learned this lesson from the Iraq War, when they changed their story every other month to avoid telling the truth.
High oil prices will affect the poorest first because it's a subtractive effect. The rich will fly around in private jets but the poorest third will not be able to get to work. Public transit will raise fares, driving will be out of the question. Massive American suburbs will die slow deaths. Oil mainly affects transportation.
The good side is that people will walk more and get healthier and women will get more shapely.
Yeah, but the stress about money will drive up healthcare and death.
You'll look back at Jimmy Carter and he will look strong compared to the chatoic weakness we have now...
Friday, February 25, 2011 It's the End of the World as We Know ItNo big surprise, it WILL all end in war. It always ends in war. A justified war..a necessary war...whatever it gets called. There is a pattern to history and this is the pattern..economic depression and critical resource shortages (oil) always leads to war. Then we start again.
I have taken the liberty of reposting In Ponzi We Trust #997438, originally posted on the JPM Cuts Q1 GDP Forecast From 4% to 3.5%… a grassroots effort that clarifies the hedonics>>>>>>>>
I have been keeping track of my household expenses since 2009 and comparing it to the official CPI numbers, and I can tell you the CPI way understates the true cost of living. For 2010, the CPI was 1.5%, while my "personal CPI" (PCPI) was 8.38%. So far in 2011, my overall PCPI has risen 2.4%, which would be about 15% annualized. So even JPM is behind the curve on this. If anyone is interested, I have posted my inflation numbers at www.verifythecpi.blogspot.com.
Thanks for the due dilligence- or the real truth, as opposed to the lies that are supposed to build confidence. What a paradox.
You probably drive (energy) and eat (food). Price increases in those categories do not matter. No one else does that anymore.
up or down it's all negative, right tyler?
Does China realize the more gas costs, the less the proles will have to buy their cheap, toxic crap.
The elites do not buy cheap, Chinese, toxic crap.
Obama calls Fahd
http://www.bostonwealth.net/2011/02/25/obama-calls-fahd/