For those speculation pushers, here's a skit I saw on 60 minutes over the weekend.
http://www.cbsnews.com/stories/2009/...=mostpop_story
Results 1 to 20 of 20
-
- Join Date
- Oct 2008
- Posts
- 3,107
01-12-2009 09:58 AM
-
01-12-2009 11:20 AM
Many people have been saying this for months/years.
If you find yourself in a fair fight, your tactics suck!
-
- Join Date
- Oct 2008
- Posts
- 3,107
-
- Join Date
- Nov 2008
- Location
- Traverse City, Mi
- Posts
- 518
01-12-2009 11:58 AMThat was a interesting segment. If demand is still low what is causing the recent rise in gasoline prices ? In Michigan we went from 1.75 to 1.90 ?
ed
-
-
01-12-2009 12:25 PM
my question is...
Now that gasoline prices are low, how much of the price is taxes? 10%? 50%?If you find yourself in a fair fight, your tactics suck!
-
-
01-12-2009 12:27 PM
Thanks for posting that - was too tied up in football and 24 to watch.
I have a few buddies who trade oil on the NYMEX and one buddy who trades at single largest oil trading frim in NY (former Goldman guy) and all of last year he was complaining that the price had nothing to do with fundamentals. They struggled trading last year trading oil and finally just went with the crowd and ended up for the year.
This year they are doing much better. While the piece was decent, I thought it could have been a bit more in depth. As mentioned, the price swung on paper trades and had nothing to do with physical delivery.
Every tree hugger (nothing against them) condemns oil as evil and the bain of our existence, but there had never been more available than now and even more is coming online. They also forget what the oil did for the industrial revolution...not to mention boating!THROWBACK
-
01-12-2009 12:30 PM
One way to prevent "paper trading" is to require that buyers take delievery! You buy, you got 10,000 barrels of oil showing up at your doorstep!
If you find yourself in a fair fight, your tactics suck!
-
01-12-2009 12:34 PM
-
01-12-2009 12:43 PM
True, but they buy and sell way more than they can actually store. Limits should be placed how how much oil you can buy and sell. For example, 200% of your storage capacity.
You can only buy and sell twice as much oil as you can store/use. If you sell 10,000 barrels a month to end users, then you can only buy/sell 20,000 barrels a month. You can't sell to other middlemen.
This would greatly limit speculation.If you find yourself in a fair fight, your tactics suck!
-
01-12-2009 12:53 PM
I agree.
Hasn't our GDP be driven and dominated by finance for the last ten years. We as a country have been producing less and less.
What is wrong with a little protectionism? Why can't we get back to making things?
-
01-12-2009 12:58 PM
Does any one hear Watch Charlie Rose or Bill Moyers' Frontline.
Good stuff. The regular news except for the occasional good 60 minutes is just a con job of useless info.
-
- Join Date
- Oct 2008
- Posts
- 907
-
- Join Date
- Oct 2008
- Posts
- 3,107
01-12-2009 02:18 PMI see absolutely nothing wrong protecting it! It would be nice to get back to making things!!!!!
I don't usually watch 60 min but I found this piece really interesting. I believe we've only seen the beginning of the house of cards... Madoff is a pimple on the azz of these money makinging conglomerates!
How about the part on Enron? The guy said the traders at Enron who blew up the cost of electric in California were the most sought after on Wall Street. Obviously this is a bit of speculation on their own part but I tend to think where there's smoke there is fire.
-
- Join Date
- Oct 2008
- Posts
- 3,107
-
- Join Date
- Nov 2008
- Location
- Naples, FL
- Posts
- 1,702
01-12-2009 03:09 PMI can't bring myself to watch any network news- all biased and hand-picked. Haven't had use for that drivel in years. News Hour w/Jim Lehrer. Nobody is better than Rose and Moyers.
The 60 mins clip was informational. No surprise, but good to see some spotlight on the issue. The whole system needs reform.
-
-
- Join Date
- Oct 2008
- Posts
- 3,107
01-14-2009 12:41 PMLooks like 60 min. may have ruffled some feathers.... Also, check out the comment section.
http://finance.yahoo.com/tech-ticker...,GLD,SLB,GS,MS
At this point I think oil might be undervalued and it'll settle at $60-70 once the boil slows to a simmer.
-