Crapneck

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4 Comments

    • Fri Jul 18th 10:25 AM | Rating: 0 0
      Commented on:
      The Oil Bubble Will Meet the Same Fate as Tech, Housing
      "They will use any rationale they can find to shift our focus away from the fact that gasoline shortages don’t exist and new oil is plentiful." Please state some facts instead of this general statement "new oil is plentiful." The reason you don't back this up with facts, is because it is not true. The fact is that there have been no major oil producing fields discovered in over 40 years. Many of the fields have reached peak or are on the decline. Many asia countries and other emerging market countries that didin't demand oil in the past, are demanding oil now. Auto sales in June surged in China for example. We may have some short term price declines in oil, but the long term pressure on prices will be upward. The difference between oil and housing and tech is that oil is a limited resource. Please provide more facts to your argument before you just post something that people want to hear so they believe (as evidenced by the posts above) without using data to back up your point.
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    • Fri Jul 18th 00:38 AM | Rating: 0 0
      Commented on:
      Confirmatory Bias and Oil Investing
      I must admit, I was firmly in the camp that oil demand was increasing worldwide and supply was tightening, but after reading this brilliant article, I now believe that demand is actually decreasing, that world populations are actually shrinking, that China and India and other emerging economies don't want to consume oil, and that the supply of oil is logically increasing! NOT!
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    • Sun Jul 13th 16:43 PM | Rating: 0 0
      Commented on:
      Housing: Barron's Calls a Bottom
      Nope, wishful thinking is nice but we're only about half way there. Housing will continue to decline well into, if not all of 2009. We've already had these steep declines with unemployment at 5.5%. Now that housing and the financial sectors are affecting the overall job economy and people are losing jobs, housing will continue to slide, especially as lending standards tighten.
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    • Sun Jul 13th 11:24 AM | Rating: 0 0
      Commented on:
      Putting $1T Subprime Mortgage Losses in Perspective
      This post by Dr. Perry brought me a much needed laugh. He looks at US Household Networth and Subprime in a vacuum but as we all know that it is not. I would encourage Dr. Perry to contact folks at Bear Stearns, Fannie Mae or Freddie Mac for a little perspective. Another $5.7 Trillion is under great threat between the two loan companies and without intervention in our allegedly "free markets" that will go down the toilet as well. Blowhards like Larry Kudlow talk a big game about "free markets being the best way to prospertiy" but letting the market works itself out here would cause enormous financial pain that I doubt he would want... so look for the Fed to continue to step in with possible government regulation. Anyway, I appreciate Dr. Perry trying to keep things positive, but pouring perfume on a pig doesn't change the reality of the situation.
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