sickofthehype's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/200084/comments http://seekingalpha.com/news/market_currents/post/36077?source=feed#comment-750809 750809 Sun, 08 Nov 2009 11:34:24 -0500 http://seekingalpha.com/article/171419-market-bulls-are-clearly-exhausted?source=feed#comment-746095 746095 Thu, 05 Nov 2009 09:06:43 -0500 http://seekingalpha.com/article/170526-property-values-set-to-fall-43-from-current-depressed-levels?source=feed#comment-744083 744083
This article represents clueless to a high degree, and anyone that can connect a few dots realizes that we're past 'the bottom'. Not to mention, imagine trying to capture a 5.00% 30-yr loan 3 years from now. Good luck.]]> Wed, 04 Nov 2009 09:04:33 -0500
This article represents clueless to a high degree, and anyone that can connect a few dots realizes that we're past 'the bottom'. Not to mention, imagine trying to capture a 5.00% 30-yr loan 3 years from now. Good luck.]]> http://seekingalpha.com/article/170235-market-spooked-today-but-panic-attack-is-likely-temporary?source=feed#comment-738237 738237
All I see on here are a bunch of bears screaming we've gone too far on no fundamentals - which I agree with to some degree, so the truth is nobody knows for sure. But one thing we can all agree on is don't fight the Fed.

Temporary dollar strengthening - can't last, won't last.

Macroeconomics tell me use the dollar 'rally' to pick up non dollar based commodities and see you in 5 years from now.]]> Sat, 31 Oct 2009 09:40:03 -0400
All I see on here are a bunch of bears screaming we've gone too far on no fundamentals - which I agree with to some degree, so the truth is nobody knows for sure. But one thing we can all agree on is don't fight the Fed.

Temporary dollar strengthening - can't last, won't last.

Macroeconomics tell me use the dollar 'rally' to pick up non dollar based commodities and see you in 5 years from now.]]> http://seekingalpha.com/article/163697-how-much-sidelined-money-remains?source=feed#comment-694719 694719
We'll be back in the 70's again soon enough. Inflation will hit harder and faster than most anticipate, just like the 'rebound' in the stock market took us all for a surprise.]]> Mon, 28 Sep 2009 20:34:55 -0400
We'll be back in the 70's again soon enough. Inflation will hit harder and faster than most anticipate, just like the 'rebound' in the stock market took us all for a surprise.]]> http://seekingalpha.com/article/161297-could-fico-scoring-scheme-boost-housing-market?source=feed#comment-676843 676843
No, it's not 2005 again, but your statement is way off..


On Sep 14 10:10 AM Karen Consumer wrote:

> Massaging FICO scores matter not in the housing sector. What matters
> is if they go back to liar loans, which is all I can see them doing,
> because with unemployment at 9.7%(16%), I don't see a whole lot of
> people rushing to buy what continues to drop, even at foreclosed
> prices. Better to wait until mid 2010 before getting all nervous
> about 'new and improved' FICO scores.]]> Tue, 15 Sep 2009 00:23:19 -0400
No, it's not 2005 again, but your statement is way off..


On Sep 14 10:10 AM Karen Consumer wrote:

> Massaging FICO scores matter not in the housing sector. What matters
> is if they go back to liar loans, which is all I can see them doing,
> because with unemployment at 9.7%(16%), I don't see a whole lot of
> people rushing to buy what continues to drop, even at foreclosed
> prices. Better to wait until mid 2010 before getting all nervous
> about 'new and improved' FICO scores.]]> http://seekingalpha.com/article/159923-are-we-seeing-a-bogus-dip?source=feed#comment-661910 661910
Too many are calling for this sell-off and for this retest of lows in March.

As we all know when you hear the herd preaching, they're always wrong. Higher it is.

Not to say this won't end badly, because it will - but I believe we have a window of opportunity at hand]]> Fri, 04 Sep 2009 11:59:10 -0400
Too many are calling for this sell-off and for this retest of lows in March.

As we all know when you hear the herd preaching, they're always wrong. Higher it is.

Not to say this won't end badly, because it will - but I believe we have a window of opportunity at hand]]> http://seekingalpha.com/article/159833-money-supply-the-myth-of-hyperinflation?source=feed#comment-660758 660758

On Sep 03 02:48 PM CC_Gold wrote:

> Here we go again with the deflation and inflation babble.
> Here's what you college trained Keynesians don't realize.....
> Consumer price inflation or deflation is a direct result of the printing
> press and asset inflation or deflation is a direct result of credit
> contraction or expansion. When consumer prices are inflating and
> asset prices are deflating, you have disinflation. The FED is leveraging
> monetary inflation against asset deflation to reinflate the asset
> bubble. They are attempting to do this by using a zero interest rate
> policy, removing "toxic" assets from the lenders, and liquifying
> the banks with cheap money. This plan is not obviously working. That's
> why you still see deflation in asset prices and rising consumer prices.
> The best way to reinflate the asset bubble is to give consumers the
> money instead of the banks. The banks are at the bottom of the funnel
> not the top. They are like the drain in a sink and the consumer is
> the water. If the water dries up, the drain is sucking air.]]> Thu, 03 Sep 2009 15:26:58 -0400

On Sep 03 02:48 PM CC_Gold wrote:

> Here we go again with the deflation and inflation babble.
> Here's what you college trained Keynesians don't realize.....
> Consumer price inflation or deflation is a direct result of the printing
> press and asset inflation or deflation is a direct result of credit
> contraction or expansion. When consumer prices are inflating and
> asset prices are deflating, you have disinflation. The FED is leveraging
> monetary inflation against asset deflation to reinflate the asset
> bubble. They are attempting to do this by using a zero interest rate
> policy, removing "toxic" assets from the lenders, and liquifying
> the banks with cheap money. This plan is not obviously working. That's
> why you still see deflation in asset prices and rising consumer prices.
> The best way to reinflate the asset bubble is to give consumers the
> money instead of the banks. The banks are at the bottom of the funnel
> not the top. They are like the drain in a sink and the consumer is
> the water. If the water dries up, the drain is sucking air.]]> http://seekingalpha.com/article/159414-u-s-dollar-expected-to-stand-tall-once-again?source=feed#comment-657718 657718 Wed, 02 Sep 2009 01:05:20 -0400 http://seekingalpha.com/article/159326-i-m-slowly-rebuilding-my-chinese-position?source=feed#comment-656395 656395 Tue, 01 Sep 2009 11:12:03 -0400 http://seekingalpha.com/article/158769-u-s-dollar-can-the-fed-pull-a-rabbit-out-of-its-hat?source=feed#comment-650256 650256 Fri, 28 Aug 2009 01:59:40 -0400 http://seekingalpha.com/article/157979-the-big-guns-bet-big-on-this-market-trend?source=feed#comment-644587 644587

On Aug 24 03:25 PM Michael Clark wrote:

> The American government through everything it had against deflation
> in the 1930's. Deflation won. Real deflation always wins; until it
> doesn't. Inflation will be roundly defeated 2010-2019. Then it will
> begin to regain strength again, bit by bit, until 2028, when expansion
> will begin again, for both good and bad.]]> Mon, 24 Aug 2009 23:42:49 -0400

On Aug 24 03:25 PM Michael Clark wrote:

> The American government through everything it had against deflation
> in the 1930's. Deflation won. Real deflation always wins; until it
> doesn't. Inflation will be roundly defeated 2010-2019. Then it will
> begin to regain strength again, bit by bit, until 2028, when expansion
> will begin again, for both good and bad.]]> http://seekingalpha.com/article/157694-exiting-home-sales-surge?source=feed#comment-644568 644568 Mon, 24 Aug 2009 23:04:04 -0400 http://seekingalpha.com/article/156993-property-values-eight-key-charts?source=feed#comment-636387 636387

On Aug 19 06:23 AM manya05 wrote:

> Thank you for a very nice article. You ponder what the consequences
> will be of going into unchartered waters with so much negative equity.
> My feeling is that homeowners walking away will not be the problem.
> As usual, the major consequence is not always obvious. In this case,
> it will mean a drastic reduction in mobility. People will stay in
> their homes, and do whatever they can to get a job in the same city
> they live in so they do not have to move and sell. If the problem
> persists for many years (decades?), we may get into multi-generational
> mobility problems, as is the case in Europe. Children will graduate
> from college and not assume the whole country is their job market
> because the parents have an empty house to unload, and they will
> choose to stay in the same city where they grew up rather than start
> anew somewhere else. This reduction in mobility and mixing, in the
> long-term, is not good for business (and will slow the recovery),
> and is not good culturally for us as a Nation either.]]> Wed, 19 Aug 2009 10:29:16 -0400

On Aug 19 06:23 AM manya05 wrote:

> Thank you for a very nice article. You ponder what the consequences
> will be of going into unchartered waters with so much negative equity.
> My feeling is that homeowners walking away will not be the problem.
> As usual, the major consequence is not always obvious. In this case,
> it will mean a drastic reduction in mobility. People will stay in
> their homes, and do whatever they can to get a job in the same city
> they live in so they do not have to move and sell. If the problem
> persists for many years (decades?), we may get into multi-generational
> mobility problems, as is the case in Europe. Children will graduate
> from college and not assume the whole country is their job market
> because the parents have an empty house to unload, and they will
> choose to stay in the same city where they grew up rather than start
> anew somewhere else. This reduction in mobility and mixing, in the
> long-term, is not good for business (and will slow the recovery),
> and is not good culturally for us as a Nation either.]]> http://seekingalpha.com/article/155941-oil-as-a-deflationary-investment?source=feed#comment-628286 628286 Thu, 13 Aug 2009 11:27:03 -0400 http://seekingalpha.com/article/154640-caution-warranted-despite-full-spectrum-of-bullish-indicators-worldwide?source=feed#comment-621829 621829
Does that tell you something's brewing?


On Aug 09 10:43 AM sickofthehype wrote:

> I think the herd mentality on bullishness has not approaced that
> of our previous highs in the market. The herd are all in lockstep
> as far as believing we are topped out, and that's where you might
> be wrong. For now though we have news media claiming the new bull
> market is here, and I think it's got a while more to go - technically
> sound or not.
>
> With Goldman Suchs blackbox software at the helm it's not something
> you or I can fight, so ride their wave of insanity. I think Q3 will
> 'surprise' many once again, as our government has shown their own
> insanity as far as doing EVERYTHING in their power to reinflate all
> asset classes.
>
> The bigger the rise the harder the fall will be later.]]> Sun, 09 Aug 2009 10:45:35 -0400
Does that tell you something's brewing?


On Aug 09 10:43 AM sickofthehype wrote:

> I think the herd mentality on bullishness has not approaced that
> of our previous highs in the market. The herd are all in lockstep
> as far as believing we are topped out, and that's where you might
> be wrong. For now though we have news media claiming the new bull
> market is here, and I think it's got a while more to go - technically
> sound or not.
>
> With Goldman Suchs blackbox software at the helm it's not something
> you or I can fight, so ride their wave of insanity. I think Q3 will
> 'surprise' many once again, as our government has shown their own
> insanity as far as doing EVERYTHING in their power to reinflate all
> asset classes.
>
> The bigger the rise the harder the fall will be later.]]> http://seekingalpha.com/article/154640-caution-warranted-despite-full-spectrum-of-bullish-indicators-worldwide?source=feed#comment-621826 621826
With Goldman Suchs blackbox software at the helm it's not something you or I can fight, so ride their wave of insanity. I think Q3 will 'surprise' many once again, as our government has shown their own insanity as far as doing EVERYTHING in their power to reinflate all asset classes.

The bigger the rise the harder the fall will be later.]]> Sun, 09 Aug 2009 10:43:58 -0400
With Goldman Suchs blackbox software at the helm it's not something you or I can fight, so ride their wave of insanity. I think Q3 will 'surprise' many once again, as our government has shown their own insanity as far as doing EVERYTHING in their power to reinflate all asset classes.

The bigger the rise the harder the fall will be later.]]> http://seekingalpha.com/article/153883-etf-trends-dollar-slope-remains-downwards?source=feed#comment-616137 616137
Shocker....]]> Wed, 05 Aug 2009 10:13:29 -0400
Shocker....]]> http://seekingalpha.com/article/152107-u-s-housing-are-better-days-ahead?source=feed#comment-607879 607879 Thu, 30 Jul 2009 10:22:42 -0400 http://seekingalpha.com/article/152179-oil-forex-equities-and-the-chinese-wall?source=feed#comment-606751 606751 Wed, 29 Jul 2009 12:28:33 -0400 http://seekingalpha.com/article/151578-u-s-housing-has-bottomed?source=feed#comment-606062 606062
Inner city locations are preferred but regardless it's a good thing builders remain on the sidelines. Stagnant lots are only helping fuel the demand.

On Jul 28 02:25 PM Bigman16 wrote:

> What difference does it make if Phoenix has a 3 month supply? It
> is completely irrelevant when you have 50,000 finished lots waiting
> for builders to mysteriously appear and build on. When you have no
> barriers to entry and a huge back log of stagnant lots, home prices
> will stay flat for long term. That may explain why builders are not
> lining up to start homes (and thus the 3 month supply).]]> Tue, 28 Jul 2009 23:42:39 -0400
Inner city locations are preferred but regardless it's a good thing builders remain on the sidelines. Stagnant lots are only helping fuel the demand.

On Jul 28 02:25 PM Bigman16 wrote:

> What difference does it make if Phoenix has a 3 month supply? It
> is completely irrelevant when you have 50,000 finished lots waiting
> for builders to mysteriously appear and build on. When you have no
> barriers to entry and a huge back log of stagnant lots, home prices
> will stay flat for long term. That may explain why builders are not
> lining up to start homes (and thus the 3 month supply).]]> http://seekingalpha.com/article/151578-u-s-housing-has-bottomed?source=feed#comment-604531 604531
The comments section clearly identifies the majority of people will not hear anything remotely positive. Luckily their sentiment is a lagging indicator only.]]> Mon, 27 Jul 2009 23:52:53 -0400
The comments section clearly identifies the majority of people will not hear anything remotely positive. Luckily their sentiment is a lagging indicator only.]]> http://seekingalpha.com/article/151311-explain-this-rally?source=feed#comment-603105 603105
Dollar devaluation? Um. Yep. Big time...
]]> Mon, 27 Jul 2009 00:07:24 -0400
Dollar devaluation? Um. Yep. Big time...
]]> http://seekingalpha.com/article/145064-5-reasons-why-oil-may-rise?source=feed#comment-561418 561418 Wow. Someone's bored..


On Jun 24 07:52 AM Mad Hedge Fund Trader wrote:

> There are more. I chatted with Jeff Rubin t, former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.]]> Wed, 24 Jun 2009 23:40:58 -0400 Wow. Someone's bored..


On Jun 24 07:52 AM Mad Hedge Fund Trader wrote:

> There are more. I chatted with Jeff Rubin t, former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.]]> http://seekingalpha.com/article/145173-commodities-today-buy-rumor-sell-fact?source=feed#comment-561413 561413

On Jun 24 07:08 PM kearone wrote:

> that's a bunch of BS. the wealth was DESTROYED. it's never co,ing
> back. There is no sideline cash, and we're still in a deflationary
> spiral.
> Dont fall for the green shits hype.
>
> hat tip to www.investmintideas.bl.../ for the good
> articles]]> Wed, 24 Jun 2009 23:36:20 -0400

On Jun 24 07:08 PM kearone wrote:

> that's a bunch of BS. the wealth was DESTROYED. it's never co,ing
> back. There is no sideline cash, and we're still in a deflationary
> spiral.
> Dont fall for the green shits hype.
>
> hat tip to www.investmintideas.bl.../ for the good
> articles]]> http://seekingalpha.com/news/market_currents/post/26662?source=feed#comment-561409 561409

On Jun 24 08:17 PM madmadhedgefundtrader wrote:

> There are more. I chatted with Jeff Rubin t, former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.]]> Wed, 24 Jun 2009 23:29:12 -0400

On Jun 24 08:17 PM madmadhedgefundtrader wrote:

> There are more. I chatted with Jeff Rubin t, former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month So I can say with complete confidence that
> the chances of an interest rate hike are less than zero for the foreseeable
> futurt's even worse. I chatted with Jeff Rubin , former chief economist
> with CIBC World Markets, who reaffirmed my own hyper-bull case for
> crude in bucketfuls. He was in San Francisco, admiring our civic
> planning and mass transit system, as part of a tour to promote his
> new book “Why Your World is About to Get a Whole Lot Smaller: Oil
> and the End of Globalization.” We are in the bottom of the ninth
> inning of the hydrocarbon age. The next super spike will take us
> to over $100/barrel within 12 months of the beginning of an economic
> recovery, and much higher after that. The problem is that we are
> losing 4 million barrels/day through depletion just when demand is
> increasing. The only offset will be dirty, foul, huge carbon footprint,
> $100/barrel Canadian tar sands, which will double, to account for
> 40% of our imports. The biggest increase in consumption is in OPEC
> itself, where consumption has ballooned to 13 million barrel/day
> and oil is being wasted on a prodigious scale, compared to only 7
> million b/d in China. Gas there costs only 25 cents/gal, utilities
> in Saudi Arabia pay only three cents/gallon for bunker fuel, and
> Dubai is blowing 3,000 b/d equivalent running an indoor ski resort.
> Oil over $100/barrel will bring globalization to a screeching halt.
> Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me. Snore, All eyes will be on the Fed interest
> rate decision today, but your time will be better spent watching
> the NBA finals, the US Open, or Wimbledon, which you have wisely
> Tivo’d for days like this. US industrial capacity utilization is
> terrible, and still falling, while unemployment is still rising at
> a record pace. Sure, commodity prices have doubled this year, but
> the give back there has already started. The buying that did occur
> happened because investors were looking for an alternative to the
> sick dollar, not because there is huge underlying demand by end users.
> This is one of the reasons why I became cautious about all of my
> long positions last month. So I can say with complete confidence
> that the chances of an interest rate hike are less than zero for
> the foreseeable futurt's even worse. I chatted with Jeff Rubin ,
> former chief economist with CIBC World Markets, who reaffirmed my
> own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.There are more. I chatted with Jeff Rubin
> t, former chief economist with CIBC World Markets, who reaffirmed
> my own hyper-bull case for crude in bucketfuls. He was in San Francisco,
> admiring our civic planning and mass transit system, as part of a
> tour to promote his new book “Why Your World is About to Get a Whole
> Lot Smaller: Oil and the End of Globalization.” We are in the bottom
> of the ninth inning of the hydrocarbon age. The next super spike
> will take us to over $100/barrel within 12 months of the beginning
> of an economic recovery, and much higher after that. The problem
> is that we are losing 4 million barrels/day through depletion just
> when demand is increasing. The only offset will be dirty, foul, huge
> carbon footprint, $100/barrel Canadian tar sands, which will double,
> to account for 40% of our imports. The biggest increase in consumption
> is in OPEC itself, where consumption has ballooned to 13 million
> barrel/day and oil is being wasted on a prodigious scale, compared
> to only 7 million b/d in China. Gas there costs only 25 cents/gal,
> utilities in Saudi Arabia pay only three cents/gallon for bunker
> fuel, and Dubai is blowing 3,000 b/d equivalent running an indoor
> ski resort. Oil over $100/barrel will bring globalization to a screeching
> halt. Economies will go local because it will cost too much to transport
> goods, as we have in the past. No more California avocados in Toronto.
> More importantly, no more Chinese steel in the US, or any other heavy
> exports, which will lead to a resurgence in domestic manufacturing
> and the jobs that come with it. Last year $90 of the $600 cost of
> Chinese steel went to shipping costs. $10/gal gasoline will take
> 50 million of our 240 million cars off the road. Even if we replace
> them with electric cars, we don’t have the power grid to juice them.
> Chinese exports will collapse, but so will their Treasury purchases,
> meaning no more bailouts for us. Oops. Subprime neighborhoods will
> get plowed back into farmland so we can eat. I think Jeff is dead
> on about oil prices. But as necessity is the mother of invention,
> some of his predictions about their impact on international trade
> are a bit extreme for me.]]> http://seekingalpha.com/article/144701-oil-price-on-the-rise-what-gives?source=feed#comment-559940 559940 oilandenergymarket.blo...



On Jun 23 02:32 PM Alpha Dinar wrote:

> Who are you to say wrong wrong wrong right right right? My exam grader?
> This is a blog. You are supposed to intellectually challenge me instead
> of vaguely saying right and wrong! Why don't you share with us significant
> points in your articles instead of having me read all your holy articles?
>
> Btw, OPEC controls 40% of oil supply and not 100% and they are a
> cheating cartel. If they cut output, Brazil and Russia will be more
> than willing to make up for it!]]> Wed, 24 Jun 2009 00:25:32 -0400 oilandenergymarket.blo...



On Jun 23 02:32 PM Alpha Dinar wrote:

> Who are you to say wrong wrong wrong right right right? My exam grader?
> This is a blog. You are supposed to intellectually challenge me instead
> of vaguely saying right and wrong! Why don't you share with us significant
> points in your articles instead of having me read all your holy articles?
>
> Btw, OPEC controls 40% of oil supply and not 100% and they are a
> cheating cartel. If they cut output, Brazil and Russia will be more
> than willing to make up for it!]]> http://seekingalpha.com/article/144847-rally-triggers-misfire-in-bonds-the-dollar-and-crude?source=feed#comment-559935 559935

On Jun 23 07:46 PM floattheyeild wrote:

>
> Long-dated Treasurys bore the brunt of the selling, pushing the yield
> on the 10-year note to as high as 3.996%, the strongest level since
> mid-October and approaching the psychologically important 4% level.
> The last time the 10-year note's yield rose above 4% was back in
> October.
>
> hat tip to kl.am/tsc for the good articles]]> Wed, 24 Jun 2009 00:13:06 -0400

On Jun 23 07:46 PM floattheyeild wrote:

>
> Long-dated Treasurys bore the brunt of the selling, pushing the yield
> on the 10-year note to as high as 3.996%, the strongest level since
> mid-October and approaching the psychologically important 4% level.
> The last time the 10-year note's yield rose above 4% was back in
> October.
>
> hat tip to kl.am/tsc for the good articles]]> http://seekingalpha.com/article/144918-existing-home-sales-rise-good-news-but-don-t-get-carried-away?source=feed#comment-559809 559809
56,000 homes for sale in January. 25,000 for sale now. 17,000 homes are pending sale right now. There are MULTIPLE bids on every home under $300K right now, so the lower end cookie cutter homes are being scooped up.

Anything under 7% historically is still a 'low' rate, so even another 1.5% rise won't kill the activity. When you're buying 40% under REPLACEMENT COST, it's a deal any way you look at it.

Sure, there are upcoming resets on the way, however, here in this city things are changing for the better in housing. And banks don't make money by not lending, so once the jumbo financing gets to a 'normal' level, that end will move as well.

There's problem areas ahead for sure, but that's the latest around these parts.]]> Tue, 23 Jun 2009 20:45:36 -0400
56,000 homes for sale in January. 25,000 for sale now. 17,000 homes are pending sale right now. There are MULTIPLE bids on every home under $300K right now, so the lower end cookie cutter homes are being scooped up.

Anything under 7% historically is still a 'low' rate, so even another 1.5% rise won't kill the activity. When you're buying 40% under REPLACEMENT COST, it's a deal any way you look at it.

Sure, there are upcoming resets on the way, however, here in this city things are changing for the better in housing. And banks don't make money by not lending, so once the jumbo financing gets to a 'normal' level, that end will move as well.

There's problem areas ahead for sure, but that's the latest around these parts.]]> http://seekingalpha.com/article/144477-why-i-d-avoid-toyota-the-1-automaker-in-the-u-s?source=feed#comment-558396 558396 Bwa haha haha...

I'll continue to drive my 1997 Toyota Land Cruiser with 200,000 miles it any day versus my former vehicle - a Chevy Tahoe that was MADE IN MEXICO and fell apart at 40k miles!

Competition comes from a similar, RELIABLE, desirable product, not from government welfare intervention. And to top it off they throw in a guy at GM that says 'I know nothing about cars'.
Genius! Pairs well with our President who 'knows nothing about running a real business' and what it takes to kickstart the economy the RIGHT way.]]> Mon, 22 Jun 2009 23:38:59 -0400 Bwa haha haha...

I'll continue to drive my 1997 Toyota Land Cruiser with 200,000 miles it any day versus my former vehicle - a Chevy Tahoe that was MADE IN MEXICO and fell apart at 40k miles!

Competition comes from a similar, RELIABLE, desirable product, not from government welfare intervention. And to top it off they throw in a guy at GM that says 'I know nothing about cars'.
Genius! Pairs well with our President who 'knows nothing about running a real business' and what it takes to kickstart the economy the RIGHT way.]]>