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Consumer spending and credit card use will be up! BTFR!
Clearly this surge in price is due to sudden EM demand from strong growth.
EM's have sophisticated energy diets now.
Those tanks, APC's, 'copters, jets, etc. take lots of petroleum. Heck, just think about how much (Q/G/K)adhafi is burning on his Caracas junket.
and now you know why oil is soaring. "Libya" is a symptom and in no way causing the oil price to soar. It's the "slight issue of various militaries" needing fuel i think.
Ragnarok, LOLOL. "strong growth"...gotta luv it. Great board.
Ya know all, as strange as this seems to 90% of America, I think it is safe to say that none of us are very surprised, amazed or bewildered with what is going on, and when gold reaches 1,500, and oil is 110 well ok then, just part of the process that we are aware of.
The sad part is most Americans have no idea what the "dollar" means outside of the fact it buys an Ipad, and most have no idea of POMO, derivatives, or monetization. And few govt. workers get it that it is over, high pensions, no health care costs, free meals for govt. workers. It is Over.
But when gas is $4.50 a gallon and bread is $5.50 a loaf. Then maybe, just maybe, "the March of Millions here."
would be surely interesting to see
On local news tonight (RI station) they stated signs that economy is picking up:
underwear sales are up as are sales of Venti Lattes
Everything is fine - as you were - nothing to worry about.
#clh WTI march contract is currently 92.56 on that little spike. Thanks fro the interuption Ragnarok.
Surely this is bullish for the oil companies! Oh wait....whose that guy in Libya again?
I love the smell of pain on Tuesday morning. I can smell it from here.
Im just glad we have been concentrating on otc derivitives the last decade rather than making sure out big tractor trailers were outfitted with natural gas engines.
what happens when our big truck companies go bankrupt from 7 dollar gas will we be hunting deer?
now i know why soros was buying delta airlines last week, just like peter schiff said circa 2007 they airlines will all be bought out by foreigners because they won't be able to afford gas in us dollar terms
Would now be a good time to top off the Suburban before the price hike Tuesday?
Hold off - I suggest buying the dips.
No shit Sherlock, only difference being mine is a Yukon...ugh. Oh well, the Taurus will be getting more miles as long as we are not snowed in.
Yes, fill the suburban and every can of gas that you can SAFELY store.
Think of it as more insurance... You might need to drive an ailing family member/friend to an ER when emergency responders are short fuel.
Heh, will be fun to see what the XRT does tomorrow....
as mentioned last friday, what about that cat at the fed who advised us that rising oil was gdp positive.
He must have been talking about oil exporters like Saudi Arabia and Canada
LA drivers will be luxuriating in $5 gas. Get your bus pass out Robo. LOL...
LA Libs want higher gas prices. WTF?
Libs everywhere are driving hybrids and electrics, best top off the f-250 tonight!
I didn't know you had to be a liberal to not like US dependence on foreign anything especially oil (wars). The Gulf of Mexico comes to mind, aside from the fact it's expensive and bad for your engine if it's gasoline you are burning.
Can't see how higher oil prices can benefit retailers, really...
It will keep pushing higher, IMO.
This jump in oil (+10.62% in one day, quite unusual) is the perfect sign the global economic recovery is accelerating.
If there is no demand, there is no jump in oil.
So there must be some pretty good demand out there.
I've converted the rest of my cash portfolio in AAPL and NFLX stocks.
hat tip to ya hamy. you sucked me in and buffaloed me a couple of times to your brand of humor. i didn't realize you were channeling harrywanger's idiocy, playing him for the fool until late in the game. took me a while to see the humor.
personally, i'm stocking up on Colavita Extra Virgin Olive Oil.
yes. i'm taking physical delivery. and yes, i CAN eat oil!
...and you can freeze it.
for the love of junk! let hamy up for some air!
yes this is about demand and not supply
Funny as always, hamy.
wish i knew more about this, but you were predicting this.
do you have crystal balls, tyler?
Dave Chapelle is looking to get a pair also
i just had the funniest hour of my life†
TD's great, great, great-grandfather was pretty good at predicting shit as well, they called him Nostradamus!
luv your ID
Anyone remember the 2008 top in commodities? This is the beginning of the end. Crack up boom. Blow off top. Head fake. Take your pick. Global economy is going to puke in its mouth again as the pass through costs tip us back into depression.
That is what happened in the summer of 2008, and once the meltup started it was hard to see how it was going to end. "Never under $100 a barrel again."
Agreed, it's getting more obvious by the day that (hyper)inflationairy depression has been the right call all along. I see it as inevitable unless The Bernank stops monetizing treasuries, in which case the U.S. government will default. So...?
But, but...the Decepticrats say this is no time to cut spending because the Economic Recovery ™ is still fragile, while the Republicons are trying to cut the Federal Budget tree with a weed trimmer -- Bizarro world continues to spin on its axis...
Topping off my cars today (should have done it last week).. Fortunately, this is already priced into the market, so you can bet the DJI will close up at least 1% tomorrow.
It was already priced in on Friday, they knew today was a holiday. Up 2% tomorrow.
How much oil can a bankrupt US and the world buy again?
Wall Street Silver Gold Theft and World Economic Collapse
This jump in oil is very good news for equities. It means the recovery is accelerating, and demand in emerging markets gaining strength.
I know youre baiting Wanger2.0 but that was exactly the sales pitch the Goldmanites used in 2008. Price action makes headlines and all that - gotta fit a narrative to the squiggly lines!
Fast forward to "Oppps , the lines going down at 45 degrees , what does that mean"?
It means you will feel better if you rotate the graph 90 degrees counter-clockwise.
I sense the irony!
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