http://www.ft.com/cms/s/0/c22b2530-0...#axzz1dDdZM5sC

As has been discussed many, many times before...it is only a matter of when and not if.
Unlike printing money which our representatives ( I gag every time I use that word!!) do to resolve a problem, replacing the oil shortfall is a long term process.
We will only get a glimpse of what the slight of hand and word manipulators in Washington will propose AFTER the price(s) go up and the economy is committed to a nose dive/crash track. And then it will be a contest over whose fault it is/was/etc.

Are you ready, yet?

btk

It does not matter what the price of oil is as long as the US Dollar is the world reserve currency. All the FED has to do is crank up the presses and print more worthless paper. Things will only change when the US Dollar is no longer the reserve currency. Things will really change when we have to buy some other currency to pay for the oil that we import.

Then it will be time for the blame game, just after the riots for food and shelter are done.

Originally Posted by billethkid

http://www.ft.com/cms/s/0/c22b2530-0...#axzz1dDdZM5sC

As has been discussed many, many times before...it is only a matter of when and not if.
Unlike printing money which our representatives ( I gag every time I use that word!!) do to resolve a problem, replacing the oil shortfall is a long term process.
We will only get a glimpse of what the slight of hand and word manipulators in Washington will propose AFTER the price(s) go up and the economy is committed to a nose dive/crash track. And then it will be a contest over whose fault it is/was/etc.

Are you ready, yet?

btk

I don't think that that will happen until the greatest consumer economy gets back on its feet.

I hope that you find this link useful:
http://www.indexmundi.com/commoditie...oil&months=120

Originally Posted by Figmo Bohica

It does not matter what the price of oil is as long as the US Dollar is the world reserve currency. All the FED has to do is crank up the presses and print more worthless paper. Things will only change when the US Dollar is no longer the reserve currency. Things will really change when we have to buy some other currency to pay for the oil that we import.

Then it will be time for the blame game, just after the riots for food and shelter are done.

I emailed that concern to the chairman of the Economics dept. where I went to college. He said that none of the competitor currencies are stable enough to be a threat.

Not a threat yet that is.

I see that you are retired military and value your opinion. Do you think that if trends persist that the Chinese will push us out of the Western Pacific?

tonyafd, I don't think that they want to push us out of the Western Pacific right now. We are a great market to them so that they can use OUR money to build their military. Once they have taken all they want from us then they might start pushing their military might around in the Western Pacific and I think that the first thing that they will take back is Taiwan. That will be a test to see how far we will go to protect an island thousands of miles from our shores and even if we can afford the price it will take to protect them.

Several weeks ago there was a news story that China and Russia were going to start trading in hard metals, IE., gold and silver. Then the story just went away, like so many news strories that could effect our way of life. Don't know if they actually are at this time, but when that happens I think that a new reserve currency is in the making, just don't know if it will be a current currency or a new one that the major traders agree on, and I don't think as of right now the US will be invited to the meeting.

Read what happened to the UK after WW II when the pound was dropped as the reserve currency. Really scarey reading and I think that the UK has never really recovered from that action to this day. They (UK) have gotten better but not back to there they were before the pound was replaced by the dollar.

We, as Americans, myself included, have gotten soft and a bit lazy. We have forgotten what it is like to work hard, save, then buy what we have wanted for a while, when we can actually afford the item. All of us, or the vast majority anyway, want it now, no matter what kind of debt we incure to get it all, and get it all, right now, and I mean right now.

Originally Posted by Figmo Bohica

tonyafd, I don't think that they want to push us out of the Western Pacific right now. We are a great market to them so that they can use OUR money to build their military. Once they have taken all they want from us then they might start pushing their military might around in the Western Pacific and I think that the first thing that they will take back is Taiwan. That will be a test to see how far we will go to protect an island thousands of miles from our shores and even if we can afford the price it will take to protect them.

Several weeks ago there was a news story that China and Russia were going to start trading in hard metals, IE., gold and silver. Then the story just went away, like so many news strories that could effect our way of life. Don't know if they actually are at this time, but when that happens I think that a new reserve currency is in the making, just don't know if it will be a current currency or a new one that the major traders agree on, and I don't think as of right now the US will be invited to the meeting.

Read what happened to the UK after WW II when the pound was dropped as the reserve currency. Really scarey reading and I think that the UK has never really recovered from that action to this day. They (UK) have gotten better but not back to there they were before the pound was replaced by the dollar.

We, as Americans, myself included, have gotten soft and a bit lazy. We have forgotten what it is like to work hard, save, then buy what we have wanted for a while, when we can actually afford the item. All of us, or the vast majority anyway, want it now, no matter what kind of debt we incure to get it all, and get it all, right now, and I mean right now.

I always believed that the housing collapse was caused by that attitude. People buying houses with no down payment and no savings. People used to save for years before they bought a house.

Originally Posted by Loveithere

I always believed that the housing collapse was caused by that attitude. People buying houses with no down payment and no savings. People used to save for years before they bought a house.

It continues far beyond the housing collapse--borrowing to spend money you don't have. Congress needs to have its "credit card" CUT UP by us....abolishing the tax code and replacing it with a simpler, more flat tax system and one that rewards saving instead of punishing it.

Originally Posted by ilovetv

It continues far beyond the housing collapse--borrowing to spend money you don't have. Congress needs to have its "credit card" CUT UP by us....abolishing the tax code and replacing it with a simpler, more flat tax system and one that rewards saving instead of punishing it.

Originally Posted by ilovetv

It continues far beyond the housing collapse--borrowing to spend money you don't have. Congress needs to have its "credit card" CUT UP by us....abolishing the tax code and replacing it with a simpler, more flat tax system and one that rewards saving instead of punishing it.

I would love to know how many people who have been foreclosed on fall into the "treating the house as an ATM' category versus someone being convinced they by a bank they could afford more than reality, versus someone who just had the bad luck of buying just before the bubble burst.

Loan officers are often judged on the QUANTITY of loans, not the quality of them.

Originally Posted by billethkid

Are you ready, yet?

How would one go about getting ready? Buy a small fuel efficient car? Check, I have that. Don't do any unnecessary driving? Check, I don't. I usually only drive about 2,000 miles per year. I have a 2002 Saturn with a little less than 20,000 miles on it.

So, I don't worry for myself but I do worry about the economy. It seems that we need fuel to be reasonably priced for a healthy economy, among other things.

During the summer of 2008, gasoline was $4.59 a gallon for regular. This morning, it was $3.65 a gallon.

I'm gonna take a wild guess here and say we are a heck of a lot better off now than we were in 2008.

.... just saying...

Originally Posted by coralway

During the summer of 2008, gasoline was $4.59 a gallon for regular. This morning, it was $3.65 a gallon.

I'm gonna take a wild guess here and say we are a heck of a lot better off now than we were in 2008.

.... just saying...

Let see, Unemployment rate 2008 5.8 per cent.

Unemployment rate 2011 9 per cent.

Yep, you are right we are lots better off just ask that other 3.2 per cent how things are for them today.

You really got to get out more and stop listening to all those left media outlets.

This thread is about the price of oil. Why can't you ever stay on topic? You have serious reading comprehension issues. Typical of *******.

And yes, I am better off now than I was in 2008.

Does not really matter what the price of gas is now or in 2008. If you don't have a job you can't buy gas, let alone food, shelter and the rest of the stuff that makes life worth living. That is pretty much staying on topic.

In Jan 2001 when Junior was selected POTUS, he inherited an unemployment rate of 4.2%. By the time he left the unemployment rate was close to 8% !!!Quite an accomplishment....

At one time during Junior's nightmarish term, the Dow reached 14,000. The day Obama was sworn in, the Dow was 8300.

You bet we're better off now.