<< <i>Is deflation (ie no inflation).....the new definition for a depression? If that's the case then essentially the US 19th century was one long depression as average prices declined from 1800 to 1907
roadrunner >>
What is the old definition of a depression? Pretty subjective in my thoughts.
<< <i>It would be great to see a little deflation in the mid 60's Corvette market as I'm looking to buy >>
Worthwhile collector car prices have pulled back around 40% on average since the 2007 peak. So your dream Vette is no doubt much cheaper today. I suspect they could get a lot cheaper over the next 2-3 yrs.
I'm not forecasting a depression. I think we're already in one. It just looks a lot different so far than the 1930's or 1890's style depression because we own the world's reserve currency and can key stroke our debts away. If all the same metrics were used without modifying the formulas for GDP, unemployment, etc. then these time periods would be much more comparable. From an economic cycle standpoint we're currently in a period the same as 1890-1894 (ie our 2010-2014). The govt has rigged the GDP numbers to delay the point where they would point to a depression, if ever. But owning the world's reserve currency has its perks. The question remaining is how much longer does the halo effect get us?
The problem with a gem vette, just like your gem gold coins is that all you can do is look at them. For $180K that '55 only runs from the show field, to the winner's circle, and back to the enclosed trailer. With only 165 hp it doesn't meet my criteria for excitement. A nice showable but driver quality '64-'67 will have plenty of looks as well as horsepower. Make sure you become an expert at detecting bogus documentation/tags and restamped blocks as it seems that's the norm in the Corvette world. The need a CAC (Corvette Acceptance Corp). If I had an extra $20K-$25K to blow a low mileage 2002-2003 405 hp Z06 Vette would do me just fine.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
Looks like I'll be watching that one tomorrow. Every time I think of Paulson with his one-page document and his inappropriate nervous stutter while asking for a free $800,000,000 of taxpayer money, I get ill.
Correction, I meant $800,000,000,000. Hard to wrap one's head around all those damn zeros.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>Looks like I'll be watching that one tomorrow. Every time I think of Paulson with his one-page document and his inappropriate nervous stutter while asking for a free $800,000,000 of taxpayer money, I get ill.
Correction, I meant $800,000,000,000. Hard to wrap one's head around all those damn zeros. >>
I was discussing this exact same thing last night with some of my "comrades." Paulson overtly asks for $800B but ends up with $16T for the Banksters.
Years ago Weird Al made a parody called "Living in an Omish Paradise." I think he needs to revisit it with a new version called "Living in a Bankster Paradise." Random thought over.
There's lots and lots and lots of em Mr Renman....
Anyone and everyone render an opinion on this? ( If I'm REALLY getting older and more naive please don't say so! )
THIS IS A FACT.
OIL - You better be sitting down when you read this !!!!!!
As you may know, Cruz Construction started a division in North Dakota just 6
months ago. They send every Kenworth (9 trucks) we had here in Alaska to North Dakota and several drivers. They just bought two new Kenworth's to add to that fleet; one being a Tri Drive tractor and a new 65 ton lowboy to go with it. They also bought two new cranes (one crawler & one rubber tired) for that division. Dave Cruz said they have moved more rigs in the last 6 months in ND than Cruz Construction moved in Alaska in the last 6 years. Williston is like a gold rush town; they moved one of our 40 man camps down there since there are no rooms available. Unemployment in ND is the lowest in the nation at 3.4 percent last I checked. See anything in the national news about how the oil industry is fueling North Dakota 's economy?
Here's an astonishing read. Important and verifiable information:
About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. was the guest. The host said to Forbes, "I am going to ask you a direct question and I would like a direct answer; how much oil does the U.S. have in the ground?" Forbes did not miss a beat, he said, "more than all the Middle East put together."
The U. S. Geological Service issued a report in April 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised
report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana.
Check THIS out:
The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay
, and has the potential to eliminate all American dependence on foreign oil.
The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable( 5 billion barrels), at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.
"When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.." says Terry Johnson, the Montana Legislature's financial analyst.
"This sizable find is now the highest-producing onshore oil field found in the past 56 years," reports The Pittsburgh Post Gazette . It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' It stretches from Northern Montana, through North Dakota and into Canada . For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves, and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL !!!!!!
That's enough crude to fully fuel the American economy for 2041 years straight. And if THAT didn't throw you on the floor, then this next one should - because it's from 2006 !!!!!!
U. S. Oil Discovery - Largest Reserve in the World
Stansberry Report Online - 4/20/2006
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this motherload of oil why are we still fighting over off-shore drilling?
They reported this stunning news:We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:
8 times as much oil as Saudi Arabia
18 times as much oil as Iraq
21 times as much oil as Kuwait
22 times as much oil as Iran
500 times as much oil as Yemen
and it's all right here in the Western United States !!!!!!
HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become
independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy. WHY?
James Bartis, lead researcher with the study says we've got more oil in this
very compact area than the entire Middle East, more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post .
Don't think 'OPEC' will drop its price even with this find? Think again! It's all about the competitive marketplace, it has to. Think OPEC just might
be funding the environmentalists?
Got your attention yet? Now, while you're thinking about it, do this:
Pass this along. If you don't take a little time to do this, then you should
stifle yourself the next time you complain about gas prices, by doing NOTHING, you forfeit your right to complain.
Now I just wonder what would happen in this country if every one of you sent
this to every one in your address book.
By the way, this can be verified. Check it out at the link below !!!!!!
There are also veritable gushers of natural gas coming from wells in Pennsylvania. We dont have a shortage of fossil fuels, but rather a shortage of will.
<< <i>Werent you very vocal about peak oil in 2008?
There are also veritable gushers of natural gas coming from wells in Pennsylvania. We dont have a shortage of fossil fuels, but rather a shortage of will. >>
Could be greed though. Conspiracy rumor has it that TPTB are waiting for $200 oil.
I believe we have the oil. But I still think we need an alternate energy source. All that pollution/CO2 will be spell the end of our earth. Not now, but perhaps in 50-100 years.
There's a lot of hype and half-truths in that Bakken stuff. One of the great things about a so-called new oil play... is that with hype and manipulation of reserves accounting, gullible investors can be taken for a *lot* of money. They'll even volunteer for it. The 25-year-old New York investment advisors seem to be everywhere with other people's money to lose.
Conspiracy rumor has it that TPTB are waiting for $200 oil.
With operating costs at $16/bbl, no Big Oil company in the world is waiting for $200. People get bonuses for making profits. Not one project manager I know, is waiting for $200 oil so they can deliver a well. Now, JP Morgan may have futures at $200 or whatever, no argument there.
The Bakken field is real and it's producing. I have been involved with some of that activity both directly and indirectly since about 1999. I can tell you that production is expanding, and it does look as if it will continue to expand. I just read yesterday that you can't get a motel room up there now. So much for making a visit.
Q: Are You Printing Money? Bernanke: Not Literally
Interesting scenario we find ourselves in at this juncture. It is hard to characterize any of the economic, political, and social evolution as bad or good, it simply is what it is and well beyond any management or control.
We have witnessed and will continue to witness the greatest transfer of wealth in the history of the world as the greatest generation and their children, the boomers, begin to age out and the assets trickle down to the next in line, the "X"'s and "Y"'s. That wealth and experience owned by the boomers is moving on. Most likely, most of those trickly assets will remain as cash or cash-like instruments like bonds, treasuries, CD's, or maybe land/real estate, and maybe even a little metal or some foreign currencies. Maybe that money is spent to get out of debt, buy a house, and create a nest egg for the children and grandchildren. Doubtful the migrating assets are making it into the stock market to be bled off by the fees, taxes, cooked forecasts, and ultimately, by the banksters that hold the kitty, not to mention the DOW hunting for something in the mid 9,000's and then, there's the ever looming gov looking to snatch some boomer assets for itself along the way. That money in the accounts of the boomers is tucked away, safe from the busy little hands and prying minds that are trying to get it...good to remember that the boomers never particularly liked politics or gov and they particularly don't like folks from those entities reaching for their pile.
The boomers right now have a huge grasp and sufficient reach financially and professionally to evolve out of this politico-economic, social quicksand that characterizes the current status quo. You're damned if you don't and damned if you do participate in what's going on; it is much better to get away from it all together and get well insulated from the chaos that seems to become greater by the day. This is a good opportunity to find a nice, safe place for you and your assets, well away from this political-economic social game of hide the salami. Also, not to ignore the social agony of the haves v.s. the have nots fighting for survival...class warfare has become a reality, just look on your TV, it can be seen almost anywhere in the world, right now. Better to just let them figure it out for themselves.
The easy intellectual pitfall is to consider that this is only a financial transfer that is changing from one generation to the next but the other transfer occurring right now is taking the boomers from professional careers and into retirement. As the boomers begin to retire and gather their eggs for the final run, they are leaving the corporations, government, agencies, and professional careers, they are checking out, taking that wealth passed down by the greatest generation and mixing it with their own assets from a lifetime of working, and they are leaving for green pastures and safe havens. Maybe it's to Panama or the farm country or maybe Spain, just depends on their haul and intent but they are taking their money and their skills out of the mix.
They have participated in taking the professional workplace from manual typewriters to what was at the time, the greatest salvation of the office worker...the IBM Selectric electric typewriter and then to the true salvation...Word for Windows; they have witnessed thick ledger books evolve to peach tree and then exel spreadsheets that can be attached as pdf's and emailed to anywhere in the world in an instant; they witnessed the evolution from t-squares and parallel bars to autocad and GIS and they have learned to go from having a "job skill" to having a well rounded "skill set"; code for doing two or three jobs at once for the same money, but now, they're done with it. So, now what?
Can the X's and Y's handle it? Will the politikers be able to impose their will on an ever more polarized constituency, will there be "evolution, revolution...all we are saying is give peace a chance."? Can a bunch of 30 somethings really run this thing can they take what has been created for them and make it work for the good of everyone? Will the bankers finally win so that everyone is working for them? What will the next plateau look like? All these questions but the answers exist only some place in the future.
Thank You, we had a very nice time. We'll see you again but don't wait up.
In the spirit of preserving some capital, I bought some 1/10th ozers this morning and kept some cash back besides. And so it goes... >>
I did too but I bought a few of the Ron Paul silvers and Liberty Dollars. I likes em and I'm thinking of putting a collection of them together. There's an encyclopedia online for them and some of them are really neat.
Here are some comments from Fed head Bernanke before the financial crisis of 2008:
“Given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited.”
“We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
“The vast majority of mortgages, including even subprime mortgages, continue to perform well.”
“Past gains in house prices have left most homeowners with significant amounts of home equity, and growth in jobs and incomes should help keep the financial obligations of most households manageable.”
<< <i>The Bakken field is real and it's producing. I have been involved with some of that activity both directly and indirectly since about 1999. I can tell you that production is expanding, and it does look as if it will continue to expand. I just read yesterday that you can't get a motel room up there now. So much for making a visit. >>
I can second that claim. I've also been involved with the Bakken. They can't build enough houses up in Williston, ND. Below is a nice plot showing ND oil production. The corresponding MT production is a stand-still due to when leases expire. A lot of the production is dependent on this variable. -aap
<< <i>I'm not forecasting a depression. I think we're already in one. It just looks a lot different so far than the 1930's or 1890's style depression because we own the world's reserve currency and can key stroke our debts away. If all the same metrics were used without modifying the formulas for GDP, unemployment, etc. then these time periods would be much more comparable. From an economic cycle standpoint we're currently in a period the same as 1890-1894 (ie our 2010-2014). The govt has rigged the GDP numbers to delay the point where they would point to a depression, if ever. But owning the world's reserve currency has its perks. The question remaining is how much longer does the halo effect get us?
roadrunner >>
roadrunner, very insightful post as usual. I think you're spot on here! -aap
<< <i>I did too but I bought a few of the Ron Paul silvers and Liberty Dollars. I likes em and I'm thinking of putting a collection of them together. There's an encyclopedia online for them and some of them are really neat. >>
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The canary in the coal mine. Harrisburg declares bankruptcy. Harrisburg >>
I'm not so sure that this is quite what it seems. The Harrisburg incinerator has been a thorn to the city for the past few decades and it got a lot worse when Barlow Projects, promising to upgrade the plant about 5-7 yrs ago finally walked away from the project in failure. Rather than help to fix the problem things only multiplied in the wrong direction. This is not an issue that most municipalities have as they usually find reliable operators and contractors to run/service their facilities and keep on maintaining their capital assets. Had Harrisburg not tried to save $50 MILL on unproven technology to the scale they needed, they probably wouldn't be at this point today. They just tossed more bad money after bad money. Some terrible long term decisions made in the 1990's basically sent the incinerator downhill. Most of their money problems stem from this incinerator project, an issue most cities or counties don't have as there are only about 100+ such plants in the country. Most of them have a fairly stready income stream and have been able to upgrade to ever-stringent cleaner aid standards. From what I could get out of the article below Harrisburg relied too heavily on cheap landfill rates in the 1990's and let the plant steadily decline. Covanta Energy came into the picture after Barlow left, but only as the operator. For all the money thrown away at this problem over the years Harrisburg could have built a state-of-the-art facility that made them a profit. This was not a derivative's issue, or paying fat pensions to city employees, etc., but mismanagement beginning 20-25 yrs ago. They were having problems during the go-go years of 2004-2007.
I agree roadrunner. There may be other municipalities who've made bad decisions, but this one isn't representative. California, New York, Nevada and Florida finances are a much bigger concern, as far as I'm concerned. California, for one, simply refuses to do the right thing.
Seems to me that more bailouts and more QE will be coming. Either that, or inflate. And alot more gnashing of teeth, by all. US taxpayers have already bailed out European banks. Why would they stop now, since the precedent has already been established? These guys are "on a roll" and as long as they can get away with it, they will keep piling on.
This isn't theory any more, and it's not a parlor game. It's real.
Got gold? Got silver? Got cash?
Q: Are You Printing Money? Bernanke: Not Literally
I agree RR. I'd also like to point out that the trust factor on anything that China puts out is dismally low. They tell us what they want us to think.
And I'll also point out that the Chinese aren't stupid. If they've been acquiring copper, there's a good reason for it. Whether it's just to bolster national stockpiles or because they anticipate future price increases, or simply to diversify their investments (copper probably a better investment than US debt), you can count on a fairly sound logic and reasoning behind the decision. I wouldn't go betting against them.
Im sure its old news. But this should be a lesson. Look back at all the stories last Winter/Spring of China buying lots of copper. Everyone got bullish on that, right. I think there were even calls for $10 copper and people were buying copper ingots on Ebay. Well, what happened? Copper peaked in January and has been dropping ever since, culminating in a massive 30% drop in Sept.
No one ever stopped to think what would happen when China got their fill.
Keep supporting the type of dirtbags we have had for the past 50 years and pretty soon the Chinese will be watcing films of the poor and hungry in the USA and send donations maybe.
30 years ago at my Mom and Dad's house in Detroit on their refrigerator was taped a carton and I'll never forget it-----
It was an Asian family eating dinner. The mother was chiding one of her kids to eat all the food on his plate because there were children in Detroit that were starving.
This cartoon was in direct contrast how a lot of us were raised. We were told to eat all the food off of our plate because so many kids in China were going hungry. I heard this repeatedly when I was a kid.
MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Comments
<< <i>Is deflation (ie no inflation).....the new definition for a depression? If that's the case then essentially the US 19th century was one long depression as average prices declined from 1800
to 1907
roadrunner >>
What is the old definition of a depression? Pretty subjective in my thoughts.
Recession is when your neighbor is out of work. Depression is when you are.
Liberty: Parent of Science & Industry
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>It would be great to see a little deflation in the mid 60's Corvette market as I'm looking to buy
Worthwhile collector car prices have pulled back around 40% on average since the 2007 peak. So your dream Vette is no doubt much cheaper today. I suspect they could
get a lot cheaper over the next 2-3 yrs.
I'm not forecasting a depression. I think we're already in one. It just looks a lot different so far than the 1930's or 1890's style depression because we own the world's reserve
currency and can key stroke our debts away. If all the same metrics were used without modifying the formulas for GDP, unemployment, etc. then these time periods would be
much more comparable. From an economic cycle standpoint we're currently in a period the same as 1890-1894 (ie our 2010-2014). The govt has rigged the GDP numbers to
delay the point where they would point to a depression, if ever. But owning the world's reserve currency has its perks. The question remaining is how much longer does the
halo effect get us?
roadrunner
While I'd really like a gem 57, I'd REALLY REALLY like a gem 55. Oh yeah baby.
55 Vette
Buck Eighty?
Now if only there was a 50% off sale.
Alas, I shall "settle" for a 66 or 67, preferably a 67
If I were a rich man
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
to the enclosed trailer. With only 165 hp it doesn't meet my criteria for excitement. A nice showable but driver quality '64-'67 will have plenty of looks as well as horsepower. Make sure
you become an expert at detecting bogus documentation/tags and restamped blocks as it seems that's the norm in the Corvette world. The need a CAC (Corvette Acceptance Corp). If I had an extra $20K-$25K to blow a low mileage 2002-2003 405 hp Z06 Vette would do me just fine.
roadrunner
I knew it would happen.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
Is the world too big to fail?
Noam Chomsky explains how the global order of power has been created and describes the mechanisms behind its continuity.
Is The World Too Big To Fail?
and of course he supports this:
Livestream Wall St Protest
What most Americans are doing?
And don't even realize it. Too bad.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Meltdown - The Secret History of the Global Financial Collapse Part 1/4
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Correction, I meant $800,000,000,000. Hard to wrap one's head around all those damn zeros.
I knew it would happen.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Looks like I'll be watching that one tomorrow. Every time I think of Paulson with his one-page document and his inappropriate nervous stutter while asking for a free $800,000,000 of taxpayer money, I get ill.
Correction, I meant $800,000,000,000. Hard to wrap one's head around all those damn zeros. >>
I was discussing this exact same thing last night with some of my "comrades." Paulson overtly asks for $800B but ends up with $16T for the Banksters.
Years ago Weird Al made a parody called "Living in an Omish Paradise." I think he needs to revisit it with a new version called "Living in a Bankster Paradise." Random thought over.
@mrearlygold, love the vid of the sheeple.
Anyone and everyone render an opinion on this? ( If I'm REALLY getting older and more naive please don't say so! )
THIS IS A FACT.
OIL - You better be sitting down when you read this !!!!!!
As you may know, Cruz Construction started a division in North Dakota
just 6
months ago. They send every Kenworth (9 trucks) we had here in Alaska
to
North Dakota and several drivers. They just bought two new Kenworth's
to add
to that fleet; one being a Tri Drive tractor and a new 65 ton lowboy
to go
with it. They also bought two new cranes (one crawler & one rubber
tired)
for that division. Dave Cruz said they have moved more rigs in the
last 6
months in ND than Cruz Construction moved in Alaska in the last 6
years.
Williston is like a gold rush town; they moved one of our 40 man camps
down
there since there are no rooms available. Unemployment in ND is the
lowest
in the nation at 3.4 percent last I checked. See anything in the
national
news about how the oil industry is fueling North Dakota 's economy?
Here's an astonishing read. Important and verifiable information:
About 6 months ago, the writer was watching a news program on oil and
one of
the Forbes Bros. was the guest. The host said to Forbes, "I am going
to ask
you a direct question and I would like a direct answer; how much oil
does
the U.S. have in the ground?" Forbes did not miss a beat, he said,
"more
than all the Middle East put together."
The U. S. Geological Service issued a report in April 2008 that only
scientists and oil men knew was coming, but man was it big. It was a
revised
report (hadn't been updated since 1995) on how much oil was in this
area of
the western 2/3 of North Dakota, western South Dakota, and extreme
eastern
Montana.
Check THIS out:
The Bakken is the largest domestic oil discovery since Alaska 's
Prudhoe Bay
, and has the potential to eliminate all American dependence on
foreign oil.
The Energy Information Administration (EIA) estimates it at 503
billion
barrels. Even if just 10% of the oil is recoverable( 5 billion
barrels), at
$107 a barrel, we're looking at a resource base worth more than $5.3
trillion.
"When I first briefed legislators on this, you could practically see
their
jaws hit the floor. They had no idea.." says Terry Johnson, the
Montana
Legislature's financial analyst.
"This sizable find is now the highest-producing onshore oil field
found in
the past 56 years," reports The Pittsburgh Post Gazette . It's a
formation
known as the Williston Basin , but is more commonly referred to as the
'Bakken.' It stretches from Northern Montana, through North Dakota and
into
Canada . For years, U. S. oil exploration has been considered a dead
end.
Even the 'Big Oil' companies gave up searching for major oil wells
decades
ago. However, a recent technological breakthrough has opened up the
Bakken's
massive reserves, and we now have access of up to 500 billion barrels.
And
because this is light, sweet oil, those billions of barrels will cost
Americans just $16 PER BARREL !!!!!!
That's enough crude to fully fuel the American economy for 2041 years
straight. And if THAT didn't throw you on the floor, then this next
one
should - because it's from 2006 !!!!!!
U. S. Oil Discovery - Largest Reserve in the World
Stansberry Report Online - 4/20/2006
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the
largest untapped oil reserve in the world. It is more than 2 TRILLION
barrels. On August 8, 2005 President Bush mandated its extraction. In
three
and a half years of high oil prices none has been extracted. With this
motherload of oil why are we still fighting over off-shore drilling?
They reported this stunning news:We have more oil inside our borders,
than
all the other proven reserves on earth. Here are the official
estimates:
8 times as much oil as Saudi Arabia
18 times as much oil as Iraq
21 times as much oil as Kuwait
22 times as much oil as Iran
500 times as much oil as Yemen
and it's all right here in the Western United States !!!!!!
HOW can this BE? HOW can we NOT BE extracting this? Because the
environmentalists and others have blocked all efforts to help America
become
independent of foreign oil! Again, we are letting a small group of
people
dictate our lives and our economy. WHY?
James Bartis, lead researcher with the study says we've got more oil
in this
very compact area than the entire Middle East, more than 2 TRILLION
barrels
untapped. That's more than all the proven oil reserves of crude oil in
the
world today, reports The Denver Post .
Don't think 'OPEC' will drop its price even with this find? Think
again!
It's all about the competitive marketplace, it has to. Think OPEC just
might
be funding the environmentalists?
Got your attention yet? Now, while you're thinking about it, do this:
Pass this along. If you don't take a little time to do this, then you
should
stifle yourself the next time you complain about gas prices, by doing
NOTHING, you forfeit your right to complain.
Now I just wonder what would happen in this country if every one of
you sent
this to every one in your address book.
By the way, this can be verified. Check it out at the link below !!!!!!
http://www.usgs.gov/newsroom/article.asp?ID=1911
<http://www.usgs.gov/newsroom/article.asp?ID=1911>
Curz Construction:
http://www.cruzconstruct.com/services.php
<http://www.cruzconstruct.com/services.php>
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
There are also veritable gushers of natural gas coming from wells in Pennsylvania. We dont have a shortage of fossil fuels, but rather a shortage of will.
Knowledge is the enemy of fear
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>It would be great to see a little deflation in the mid 60's Corvette market as I'm looking to buy >>
Sold my 1964 Convertible in 1984.
327/300
Daytona Blue / White Convert Top
Always wanted a 1967 427/435.
<< <i>Werent you very vocal about peak oil in 2008?
There are also veritable gushers of natural gas coming from wells in Pennsylvania. We dont have a shortage of fossil fuels, but rather a shortage of will. >>
Could be greed though. Conspiracy rumor has it that TPTB are waiting for $200 oil.
Box of 20
With operating costs at $16/bbl, no Big Oil company in the world is waiting for $200. People get bonuses for making profits. Not one project manager I know, is waiting for $200 oil so they can deliver a well. Now, JP Morgan may have futures at $200 or whatever, no argument there.
I knew it would happen.
They said reason they left PA is that bonus money is like running like water to finish jobs and start others with 85 to 90% oil.
Baker-Hughs district manager explains that the TEXAS EAGLFORD #2 is bigger than Middle-East Oil and will take 20 to 25
years to complete.
I leased($300) land for $8500. acre plus 25% on 800 acres and they cannot find a rig or crews,so the 25% of all production will wait.
SEE GOOGLE for all details ("Eagle Ford Shell ")
These fields are in south and west Texas? WTI? I've missed out on some of this, and I'd be interested in knowing more...
I knew it would happen.
Liberty: Parent of Science & Industry
Interesting scenario we find ourselves in at this juncture. It is hard to characterize any of the economic, political, and social evolution as bad or good, it simply is what it is and well beyond any management or control.
We have witnessed and will continue to witness the greatest transfer of wealth in the history of the world as the greatest generation and their children, the boomers, begin to age out and the assets trickle down to the next in line, the "X"'s and "Y"'s. That wealth and experience owned by the boomers is moving on. Most likely, most of those trickly assets will remain as cash or cash-like instruments like bonds, treasuries, CD's, or maybe land/real estate, and maybe even a little metal or some foreign currencies. Maybe that money is spent to get out of debt, buy a house, and create a nest egg for the children and grandchildren. Doubtful the migrating assets are making it into the stock market to be bled off by the fees, taxes, cooked forecasts, and ultimately, by the banksters that hold the kitty, not to mention the DOW hunting for something in the mid 9,000's and then, there's the ever looming gov looking to snatch some boomer assets for itself along the way. That money in the accounts of the boomers is tucked away, safe from the busy little hands and prying minds that are trying to get it...good to remember that the boomers never particularly liked politics or gov and they particularly don't like folks from those entities reaching for their pile.
The boomers right now have a huge grasp and sufficient reach financially and professionally to evolve out of this politico-economic, social quicksand that characterizes the current status quo. You're damned if you don't and damned if you do participate in what's going on; it is much better to get away from it all together and get well insulated from the chaos that seems to become greater by the day. This is a good opportunity to find a nice, safe place for you and your assets, well away from this political-economic social game of hide the salami. Also, not to ignore the social agony of the haves v.s. the have nots fighting for survival...class warfare has become a reality, just look on your TV, it can be seen almost anywhere in the world, right now. Better to just let them figure it out for themselves.
The easy intellectual pitfall is to consider that this is only a financial transfer that is changing from one generation to the next but the other transfer occurring right now is taking the boomers from professional careers and into retirement. As the boomers begin to retire and gather their eggs for the final run, they are leaving the corporations, government, agencies, and professional careers, they are checking out, taking that wealth passed down by the greatest generation and mixing it with their own assets from a lifetime of working, and they are leaving for green pastures and safe havens. Maybe it's to Panama or the farm country or maybe Spain, just depends on their haul and intent but they are taking their money and their skills out of the mix.
They have participated in taking the professional workplace from manual typewriters to what was at the time, the greatest salvation of the office worker...the IBM Selectric electric typewriter and then to the true salvation...Word for Windows; they have witnessed thick ledger books evolve to peach tree and then exel spreadsheets that can be attached as pdf's and emailed to anywhere in the world in an instant; they witnessed the evolution from t-squares and parallel bars to autocad and GIS and they have learned to go from having a "job skill" to having a well rounded "skill set"; code for doing two or three jobs at once for the same money, but now, they're done with it. So, now what?
Can the X's and Y's handle it? Will the politikers be able to impose their will on an ever more polarized constituency, will there be "evolution, revolution...all we are saying is give peace a chance."? Can a bunch of 30 somethings really run this thing can they take what has been created for them and make it work for the good of everyone? Will the bankers finally win so that everyone is working for them? What will the next plateau look like? All these questions but the answers exist only some place in the future.
Thank You, we had a very nice time. We'll see you again but don't wait up.
Got CASH?
In the spirit of preserving some capital, I bought some 1/10th ozers this morning and kept some cash back besides. And so it goes...
I knew it would happen.
<< <i>Got CASH?
In the spirit of preserving some capital, I bought some 1/10th ozers this morning and kept some cash back besides. And so it goes... >>
I did too but I bought a few of the Ron Paul silvers and Liberty Dollars. I likes em and I'm thinking of putting a collection of them together. There's an encyclopedia online for them and some of them are really neat.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
What you write is why I am not worried about the future.
BTW--There will be a new "sheriff in town" at the ECB as Trichet leaves on Oct 31. He will be replaced by an Italian. Interesting.
Knowledge is the enemy of fear
--------------------------------------------------------------------------------
Do you think Bernanke was purposely lying?
Here are some comments from Fed head Bernanke before the financial crisis of 2008:
“Given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited.”
“We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
“The vast majority of mortgages, including even subprime mortgages, continue to perform well.”
“Past gains in house prices have left most homeowners with significant amounts of home equity, and growth in jobs and incomes should help keep the financial obligations of most households manageable.”
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>The Bakken field is real and it's producing. I have been involved with some of that activity both directly and indirectly since about 1999. I can tell you that production is expanding, and it does look as if it will continue to expand. I just read yesterday that you can't get a motel room up there now. So much for making a visit. >>
I can second that claim. I've also been involved with the Bakken. They can't build enough houses up in Williston, ND. Below is a nice plot showing ND oil production. The corresponding MT production is a stand-still due to when leases expire. A lot of the production is dependent on this variable. -aap
ND Oil Production Chart
<< <i>I'm not forecasting a depression. I think we're already in one. It just looks a lot different so far than the 1930's or 1890's style depression because we own the world's reserve currency and can key stroke our debts away. If all the same metrics were used without modifying the formulas for GDP, unemployment, etc. then these time periods would be much more comparable. From an economic cycle standpoint we're currently in a period the same as 1890-1894 (ie our 2010-2014). The govt has rigged the GDP numbers to delay the point where they would point to a depression, if ever. But owning the world's reserve currency has its perks. The question remaining is how much longer does the halo effect get us?
roadrunner >>
roadrunner, very insightful post as usual. I think you're spot on here! -aap
USDA crop report
Knowledge is the enemy of fear
Must still be waiting for Clarence Beeks to obtain it for Randolph and Mortimer Duke
Liberty: Parent of Science & Industry
Box of 20
<< <i>Couldn't see the crop report for frozen concentrated orange juice
Must still be waiting for Clarence Beeks to obtain it for Randolph and Mortimer Duke >>
I usually skip right to the pork bellies. Yum!!
Also to be reported in the Financial Times tomorrow that China has inventoried 50% more copper than we thought.
Knowledge is the enemy of fear
Someone's gonna get spanked on that one.
Added - wouldn't this info have been reflected in the market already? (I would think that the insiders would have already made their move.)
I knew it would happen.
<< <i>I did too but I bought a few of the Ron Paul silvers and Liberty Dollars. I likes em and I'm thinking of putting a collection of them together. There's an encyclopedia online for them and some of them are really neat. >>
LibertyDollarEncyclopedia
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The canary in the coal mine. Harrisburg declares bankruptcy. Harrisburg >>
I'm not so sure that this is quite what it seems. The Harrisburg incinerator has been a thorn to the city for the past few decades and it got a lot worse when Barlow Projects, promising to upgrade the plant about 5-7 yrs ago finally walked away from the project in failure. Rather than help to fix the problem things only multiplied in the wrong direction. This is not an issue that most municipalities have as they usually find reliable operators and contractors to run/service their facilities and keep on maintaining their capital assets. Had Harrisburg not tried to save $50 MILL on unproven technology to the scale they needed, they probably wouldn't be at this point today. They just tossed more bad money after bad money. Some terrible long term decisions made in the 1990's basically sent the incinerator downhill. Most of their money problems stem from this incinerator project, an issue most cities or counties don't have as there are only about 100+ such plants in the country. Most of them have a fairly stready income stream and have been able to upgrade to ever-stringent cleaner aid standards. From what I could get out of the article below Harrisburg relied too heavily on cheap landfill rates in the 1990's and let the plant steadily decline. Covanta Energy came into the picture after Barlow left, but only as the operator. For all the money thrown away at this problem over the years Harrisburg could have built a state-of-the-art facility that made them a profit. This was not a derivative's issue, or paying fat pensions to city employees, etc., but mismanagement beginning 20-25 yrs ago. They were having problems during the go-go years of 2004-2007.
Harrisburg incinerator history
roadrunner
I'm more concerned about what the IMF guy in the utube video on Sinclair's site had to say..."We face a worldwide banking meltdown"
Seems to me that more bailouts and more QE will be coming. Either that, or inflate. And alot more gnashing of teeth, by all. US taxpayers have already bailed out European banks. Why would they stop now, since the precedent has already been established? These guys are "on a roll" and as long as they can get away with it, they will keep piling on.
This isn't theory any more, and it's not a parlor game. It's real.
Got gold? Got silver? Got cash?
I knew it would happen.
I'd wager that the Chinese govt has also stockpiled >50% more gold as well than currently reported.
roadrunner
And I'll also point out that the Chinese aren't stupid. If they've been acquiring copper, there's a good reason for it. Whether it's just to bolster national stockpiles or because they anticipate future price increases, or simply to diversify their investments (copper probably a better investment than US debt), you can count on a fairly sound logic and reasoning behind the decision. I wouldn't go betting against them.
No one ever stopped to think what would happen when China got their fill.
Knowledge is the enemy of fear
I think you meant "deflate" as QE and bailouts are inflationary.
I'd wager that the Chinese govt has also stockpiled >50% more gold as well than currently reported
So per my post above, should we be worried?
or simply to diversify their investments (copper probably a better investment than US debt),
Copper is down 33% in 4 months. Even the holders of Greek debt may not take that much of a haircut. US debt is a-ok.
agree RR. I'd also like to point out that the trust factor on anything that China puts out is dismally low. They
I'll also agree. So which story should we believe?
August 30, 2011 China intensifies purchases of copper
October 13, 2011 Real Chinese copper demand may have been lower than thought
MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES
Knowledge is the enemy of fear
<<I think you meant "deflate" as QE and bailouts are inflationary.>>
No, I actually meant what I said. It could also be interpreted as, "Either inflate, or inflate".
I knew it would happen.
<< <i>No, I actually meant what I said. It could also be interpreted as, "Either inflate, or inflate".
Let's see if I can add to that...
The fed's only options are to inflate, or to inflate. Did I get that right?
Yes, I do believe that's where we're at.
Chinese families struggling less than Americans
Keep supporting the type of dirtbags we have had for the past 50 years and pretty soon the Chinese will be watcing films of the poor and hungry in the USA and send donations maybe.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Families in China struggling less than American counterparts to put food on table
[L=Chinese families struggling less than Americans]http://www.nydailynews.com/news/world/2011/10/13/2011-10-13_families_in_china_struggling_less_than_american_counterparts_to_put_food_on_tabl.html[/L . >>
30 years ago at my Mom and Dad's house in Detroit on their refrigerator was taped a carton and I'll never forget it-----
It was an Asian family eating dinner. The mother was chiding one of her kids to eat all the food on his plate because there were children in Detroit that were starving.
This cartoon was in direct contrast how a lot of us were raised. We were told to eat all the food off of our plate because so many kids in China were going hungry. I heard this repeatedly when I was a kid.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......