Mike Krieger Sees Widespread Panic

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Thu, 06/23/2011 - 13:56 | 1395627 Hugh G Rection
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complete unmitigated disaster

Thu, 06/23/2011 - 14:01 | 1395664 schoolsout
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....



Thu, 06/23/2011 - 14:20 | 1395711 schoolsout
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?


Thu, 06/23/2011 - 14:20 | 1395715 Hugh G Rection
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Never sweat the junk touchers

Thu, 06/23/2011 - 14:40 | 1395818 Doña K
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Desparately looking to discredit Zerohedgers

Thu, 06/23/2011 - 16:33 | 1396432 Mr Lennon Hendrix
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!

Thu, 06/23/2011 - 17:45 | 1396657 Spirit Of Truth
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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:



Thu, 06/23/2011 - 17:49 | 1396699 IQ 145
IQ 145's picture

 My response; buying votes; as usual.

Thu, 06/23/2011 - 17:56 | 1396724 Mr Lennon Hendrix
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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.

Thu, 06/23/2011 - 19:36 | 1396961 nope-1004
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.


Thu, 06/23/2011 - 20:50 | 1397135 WonderDawg
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Obama has gone full tard. Dimishes the emergency supply and provides hardly a ripple in the global supply.

Thu, 06/23/2011 - 21:20 | 1397213 Spirit Of Truth
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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. 

Fri, 06/24/2011 - 08:37 | 1398065 FrankDrakman
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?!)

Thu, 06/23/2011 - 18:01 | 1396718 Mr Lennon Hendrix
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World production has peaked.  That is pretty huge.  Yet that is an unmitigatable problem, so Obama acts foolishly once again.

Thu, 06/23/2011 - 20:29 | 1397086 monkeyshine
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. 

Thu, 06/23/2011 - 21:02 | 1397172 FreedomGuy
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!

Thu, 06/23/2011 - 21:43 | 1397259 trav7777
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.

Thu, 06/23/2011 - 21:00 | 1396847 macholatte
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




Thu, 06/23/2011 - 18:45 | 1396842 SilverDosed
SilverDosed's picture

Because WSP SUX

Thu, 06/23/2011 - 14:22 | 1395725 Herd Redirectio...
Herd Redirection Committee's picture


Big Wreck - "Broken Hands"

Whose hands, I don't know.

Thu, 06/23/2011 - 14:19 | 1395729 Herd Redirectio...
Herd Redirection Committee's picture

The band name is fitting for our times as well!

Thu, 06/23/2011 - 16:28 | 1396407 I think I need ...
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

Thu, 06/23/2011 - 14:26 | 1395743 InMisesITrust
InMisesITrust's picture

Aint life grand.......

Thu, 06/23/2011 - 14:39 | 1395800 HungrySeagull
HungrySeagull's picture

The Butterfly should now say One word....



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

Thu, 06/23/2011 - 16:06 | 1396314 Nathan Muir
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. 

Thu, 06/23/2011 - 20:13 | 1397059 HungrySeagull
HungrySeagull's picture

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

Fri, 06/24/2011 - 00:02 | 1397512 sun tzu
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

Thu, 06/23/2011 - 16:38 | 1396439 ian807
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.


Thu, 06/23/2011 - 17:44 | 1396663 Monedas
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 !

Thu, 06/23/2011 - 20:17 | 1397061 HungrySeagull
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.

Fri, 06/24/2011 - 00:03 | 1397506 sun tzu
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.

Thu, 06/23/2011 - 21:15 | 1397200 DRT RD
DRT RD's picture


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

Thu, 06/23/2011 - 15:50 | 1396254 doesmybuttlookf...
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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.

Thu, 06/23/2011 - 16:49 | 1396467 Partisan
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.

Thu, 06/23/2011 - 17:49 | 1396654 hambone
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.

Thu, 06/23/2011 - 21:12 | 1397184 Bringin It
Bringin It's picture

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

Fri, 06/24/2011 - 00:12 | 1397523 sun tzu
sun tzu's picture

Ever heard of Phalanx and Seadart?

Thu, 06/23/2011 - 20:15 | 1397063 HungrySeagull
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.

Thu, 06/23/2011 - 20:30 | 1397104 ratso
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.

Thu, 06/23/2011 - 13:56 | 1395635 Ancona
Ancona's picture

I predict mayhem. Any day now....

Thu, 06/23/2011 - 14:15 | 1395694 eureka
eureka's picture


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

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

Thu, 06/23/2011 - 17:55 | 1396719 ratso
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.

Thu, 06/23/2011 - 18:09 | 1396763 Rusty Shorts
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.

Thu, 06/23/2011 - 21:17 | 1397196 Bringin It
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.


Thu, 06/23/2011 - 21:36 | 1397246 Eireann go Brach
Eireann go Brach's picture

Is that you Timmay?

Thu, 06/23/2011 - 19:20 | 1396920 Timmay
Timmay's picture

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

Thu, 06/23/2011 - 19:41 | 1396986 Mr Creosote
Mr Creosote's picture

How 'bout a riot?

Note the fine print on the album cover


Thu, 06/23/2011 - 13:55 | 1395640 The Axe
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...

Thu, 06/23/2011 - 13:58 | 1395651 baby_BLYTHE
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!

Thu, 06/23/2011 - 14:06 | 1395667 Hugh G Rection
Hugh G Rection's picture

Operation Iranian Liberation


problem solved...

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