Mike Krieger Sees Widespread Panic

Tyler Durden's picture

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Hugh G Rection's picture

complete unmitigated disaster

schoolsout's picture

Widespread Panic....for the SpreadHeads out there

 

Don't tell the band, the devil's on his way....

Don't tell the band, just let the music play....

http://www.youtube.com/watch?v=oXH_g6MV3gI

 

schoolsout's picture

How are you going to junk a post that features Widespread Panic (which was brought up by Mr. Krieger in the post) and is the song that defines our times?

 

Hugh G Rection's picture

Never sweat the junk touchers

Doña K's picture

Desparately looking to discredit Zerohedgers

Mr Lennon Hendrix's picture

Bernanke is desperately tring to confuse the rational consumer, which is funny, because the consumer is not rational.  The Bernanke Paradox!

Spirit Of Truth's picture

People are missing the bigger picture IMHO.  The strategic petroleum reserve is only supposed to be tapped if there's some sort of disruption to the global oil supply.  There is no current disruption of significance in the world oil supply.  Hence, that the Obama Admistration is tapping it may be a sign that a major disruption is being ANTICIPATED rather than this being a response to high oil prices. 

Something may be up w/Iran:

http://thespiritoftruth.blogspot.com/2011/06/something-up-with-iran.html

 

IQ 145's picture

 My response; buying votes; as usual.

Mr Lennon Hendrix's picture

If anyone has bought a vote for Obama, they were ripped off...except the banksters that bought him off, they are happy with their purchase.

nope-1004's picture

Tapping SPR due to "Anticipated" disruptions?  LMFAO.  I don't think so.

This is another one of those manipulative "gotta show no inflation" tools the govvy is instituting.  Further evidence that QE3 is coming.

If the gov't didn't anticipate the largest credit bubble of all time, nor anticipate banks going tits up unless bailed out, nor anticipate unemployment skyrocketing, all of which are domestic problems, what makes you think this idiotic gov't led by Mr. "HOPE" can anticipate foreign events?

No.  You're wrong.  This is total, unbridled market manipulation to save face, ass, and anything else the fraudulent elite have done to mankind by helping their insolvent banking buddies.

 

WonderDawg's picture

Obama has gone full tard. Dimishes the emergency supply and provides hardly a ripple in the global supply.

Spirit Of Truth's picture

By 'anticipate' I mean that Israel has informed the U.S. or the U.S. will even be an active participant in air strikes on Iranian nuclear sites. 

FrankDrakman's picture

Silly rabbits; instant spike down in oil prices. Of course, it's temporary, and will be right back where it is now in August (or even mid-July), but...

In the meantime, they calculate CPI. Especially the "volatile energy component". Now Bambam and Ben can tout that "inflation has been tamed", so they can resume printing. Oh, and they'll save billions in SS and other inflation-adjusted benefits by using the manipulated number.

They're evil, but not stupid.

(BTW: captcha was -32 x 24, and then tells me that -768 is wrong because it's four characters long, and can only be two. What am I supposed to do, round it?!)

Mr Lennon Hendrix's picture

World production has peaked.  That is pretty huge.  Yet that is an unmitigatable problem, so Obama acts foolishly once again.

monkeyshine's picture

I think you are on to something there.  But if you are right, it is mostly in spirit.  I, like others who replied to you, don't believe there is something overt that will happen.  But all too often we forget just how big a stage this really is. 

If it has to do with Iran, then it has less to do with us and more to do with Saudi Arabia.  (Though then I guess it does have to do with us) Let us not forget that SA is pretty much as war with Iran right now.  Sunni vs Shia.  Iran is backing revolution in the Saudi Penninsula particularly Yemen and Bahrain.  Saudi sent troops to Bahrain. Iran basically took over Gaza and Lebanon, and is backing Syria's Assad. Assad comes from a sect sympathetic to Shia though his country is majority Sunni.  Point of it all is that this so-called "Arab Spring" is nothing of the sort, and these two regional powers Iran and SA are jockeying for the power position, and fighting proxy battles.

NOW what does that have to do with the oil? Well, Saudi oil is much cheaper to dig up than Iranian oil, so lower prices hurt Iran more than Saudi.  Saudi has a lot more Sovereign Wealth, along with their partners in the GCC. Iran has a lot of oil but they also have 75 million mouths to feed.  SA has only 25 million. 

So I'd day there is something there.  Anything they can do to put the pinch on Iran they will do.  If they can get the price of oil back under $80 (doubtful, but they will try and try even lower) they will cause much more damage to Iran than any of the sanctions so far. 

FreedomGuy's picture

Yeah, when Joseph was advising the ancient Egyptians to store grain for the seven bad years coming he would've settled for a 10% grain release to stabilize prices, right? And then during the famine...oops!

trav7777's picture

well he did, and because his clan had favored nepotistic access to grain, they were able to dispossess the entire egyptian nation of their land, becoming barons.  Eventually, there was another holocaust as a result.

macholatte's picture

Bernanke is desperately tring to confuse the rational consumer, which is funny, because the consumer is not rational.  The Bernanke Paradox!

 

here ya go......

Rand Paul vs Bureaucrat

http://www.youtube.com/watch?v=ePZGWvwvH_0&feature=player_embedded

 

 

Herd Redirection Committee's picture

The band name is fitting for our times as well!

I think I need to buy a gun's picture

geez did they hire someone from goldman sachs to junk everyone today

 

The writing is on the wall...this weekend or next weekend we will have a new system in place looks like by 4th of july

gold to the moon

HungrySeagull's picture

The Butterfly should now say One word....

 

ANWAR.

Get it up and running. And all our troubles go away.... I'll fly away... oh...

Nathan Muir's picture

Give ole Palin's talking points a rest bud.  All the oil in ANWAR is at best a short term fix. 

HungrySeagull's picture

Fuck you. Palin was in Diapers when they were arguing about ANWAR back in CARTER's Adminstration.

sun tzu's picture

The oil everywhere is a short term fix. Maybe we should stop all drilling for oil. You fucking dimwits don't even know why the land in ANWAR is any more precious than the Bakken fields in North Dakota or the deserts in Saudi Arabia. Some dipshit enviromental told you it was off limits and you shit-for-brains blindly repeat

ian807's picture

"...In 1998, the USGS estimated that between 5.7 and 16.0 billion barrels (2.54×109 m3) of technically recoverable crude oil and natural gas liquids are in the coastal plain area of ANWR"

The USA uses 9 billion barrels of oil a year. All of Anwar, even if it actually produced the maximum amount of 16 billion barrels, isn't even 2 years of supply for the USA.

There's this thing called "Google" and these new fangled inventions called "calculators." You really ought to give them a try. You'll avoid a lot of personal embarrassment.

 

Monedas's picture

It will take them 20 years to get that 2 year supply to market ! The pipeline is already built ! 5% a year of Anwar's oil is something when added on to existing sources !

HungrySeagull's picture

Libya's oil was reported to be what? Half of Italy's use and hardly anywhere else? ANWAR is bigger than Libya.

sun tzu's picture

Saudi Arabia has enough oil to supply the world for only 3 years, so they should stop drilling for oil and it wouldn't affect the world supply at all. You fucking idiots are hilarious. Any one oil field by itself is a very small part of the market, but if you shut dozens of them down for environmental reasons, it becomes a huge part of the market.

DRT RD's picture

http://www.youtube.com/watch?v=Hl2_HXYGU7U

What it's like washing windows when you know that there are pigeons on the roof!

doesmybuttlookfatinthis's picture

WWIII?  I can see it over oil.  It would be simple for them to grab it once we're out of Afghanistan. First Russia and China will declare war on isreal and march across Iran, Iraq, and of course we can't forget Saudi Arabia.  The dumb shit arabs and persians would open the doors wide for this, and once the ruskies and chi-coms get to the boarder of Israel *BANG* Peace. At least for a while. But just to be sure they will stay and negotiate (with a gun) a new oil contract. Now whats left of the oil fields belong to China and Russia.

Partisan's picture

Are you serious?  China can't even transport its troops across its nation, let alone twice that to the Levant.  Both nations lack force projection.  That's just dumb.

hambone's picture

US has 11 active aircraft carriers plus 2 more in construction...China is just completing it's first (it purchased an old Soviet carrier and is supposedly retrofitting it...and that's it...no more planned).  US also has 3 "amphibious assualt" ships (helicopter aircraft carriers).

That means rest of the world now has 11 carriers (UK, Brazil, France, Italy (2), India, Spain (2), Thailand, Russia, and now China.

And China is our great worry? - what a joke.

We are our own worst enemy.

Bringin It's picture

General Hambone - you are fighting the last (century's) war.  Carriers are the new battleships.  Look up 'Sunburn missle'.

sun tzu's picture

Ever heard of Phalanx and Seadart?

HungrySeagull's picture

That is what you think Sir.

The Chinese snap a finger a millions are putting boots on the ground that week.

How do you think they managed to fill North Korea with such vast numbers while Mc Arthur was shooting off his big gold bejeweled mouth about the successes.

ratso's picture

Mao has been dead for a while now and China Inc has become the new dynasty papered over with a thin veneer of socialist rhetoric.

China a threat - hardly.  Evidence will emerge over the next 18 months as they will have a really hard economic landing.

Ancona's picture

I predict mayhem. Any day now....

eureka's picture

ANCONA - YOU SAID IT !

"This is HUGE.  The Bernank has no clothes..." 

This is HUGE - US EMPIRE HAS NO CLOTHES - US collapses next 12 months.

ratso's picture

Just for the record

There is no world conspiracy in the works.

Economic collapse is not on the horizon.

The sky is not falling.

Bernanke is not a moron.

Those who sow fear are invested in that outcome.

We will just muddle through until the next technological epoch unfolds.

Rusty Shorts's picture

I think this is the great example of why so many pin their hopes on the "as-yet-unknown-future-technology-fix". We just pop together the as-yet-unknown free energy device into the as-yet-unknown spaceship and fly to the as-yet-unknown destination and *wham!* populate the galaxy.

Bringin It's picture

Those who sow complacency in the face of chaotic, violent, systemic break down are invested in that outcome.  You and the Bernark for example.

 

Timmay's picture

Let's clean that up  bit, -US collapses Dec 21, 2012.

Mr Creosote's picture

How 'bout a riot?

Note the fine print on the album cover

http://www.youtube.com/watch?v=lU4ke34dKWo

The Axe's picture

ZH continues to provide excellent info..on the sad state of the economy...However..the tenor of the market tells me the turkey is very far from being done...

baby_BLYTHE's picture

So you expect more upside in stocks?

Who will buy US debt when the FED stops QE2?

Where will the capital flow from to pump up the markets?

Americans are broke!

Hugh G Rection's picture

Operation Iranian Liberation

 

problem solved...