Fun with Falling Oil Hypocrisy!!

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Profile Aristoteles Doukas
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Message 826937 - Posted: 4 Nov 2008, 7:30:50 UTC

the problem is that houses start to cost way too much forcing people who should not buy house til the prices come down, take too much a loan to buy a house.
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Profile William Rothamel
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Message 826962 - Posted: 4 Nov 2008, 11:02:14 UTC
Last modified: 4 Nov 2008, 11:06:50 UTC

Howdy Rush and friends, Seems like someone should offer definitions and examples of:

Monopoly-(AT&T prior)
Regulated Monopolies (Cable TV--poorly regulated))
De-facto Monopolies
Oligopolies
Cartels (OPEC--Diamonds-DeBeers)
Insider trading ( Wall Street-Market Makers Fund Managers)
Price fixing ( Gasoline)
Market manipulation (Hedge Funds--Bunkie Hunt etc)

It also seems that we should discuss:

Regulation
Oversight
Free Markets

Also, it would help the discussion on markets to envision what would happen if we did not have a police force or even an Armed Forces.

It's the old story of Government Regulation vs oversight, politics, inefficiency, meddling and a bunch of "corporate" crooks and exploiters.

In other words is "Anything Goes" a good way to organize a society?

Regards ,

Bill
AKA DADDIO
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Message 827022 - Posted: 4 Nov 2008, 16:16:30 UTC - in response to Message 826962.  

Also, it would help the discussion on markets to envision what would happen if we did not have a police force or even an Armed Forces.

No one here has made a case for no police or military.

It's the old story of Government Regulation vs oversight, politics, inefficiency, meddling and a bunch of "corporate" crooks and exploiters.

In other words is "Anything Goes" a good way to organize a society?

Who said this was a good idea?

Most, if not all, of the posters here have no idea what those terms you mentioned mean beyond their most simple definition.
Cordially,
Rush

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Message 827137 - Posted: 5 Nov 2008, 5:33:12 UTC

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Message 827166 - Posted: 5 Nov 2008, 7:58:11 UTC - in response to Message 827022.  

Also, it would help the discussion on markets to envision what would happen if we did not have a police force or even an Armed Forces.

No one here has made a case for no police or military.

It's the old story of Government Regulation vs oversight, politics, inefficiency, meddling and a bunch of "corporate" crooks and exploiters.

In other words is "Anything Goes" a good way to organize a society?

Who said this was a good idea?

Most, if not all, of the posters here have no idea what those terms you mentioned mean beyond their most simple definition.


Our friend Rush is a Libertarian.
They like the idea of police and military protections but despise the thought of protections that interfere with profits...FDA...FCC...Tobin tax...Progressive tax...Capital Gains tax...etc etc etc.

In Libertarian world, the individual would have to face the corporations and the powerful elites while standing alone.
No thanks.

That's it for me...good night

PS: Well done this evening America
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Message 827248 - Posted: 5 Nov 2008, 16:29:47 UTC - in response to Message 827166.  
Last modified: 5 Nov 2008, 16:30:59 UTC

Our friend Rush is a Libertarian.
They like the idea of police and military protections...

Duh, of course they do. They like the idea of rule of law and private property protections and human rights too. Just like everyone else. Just like you.

Who the hell wants to live under chaos?

... but despise the thought of protections that interfere with profits...FDA...FCC...Tobin tax...Progressive tax...Capital Gains tax...etc etc etc.

And yet again, you demonstrate that the simplest of concepts, or simple definitions of words are beyond you. You demonstrate that you actually have no idea what Libertarians think about protections or how they would be achieved.

Do you think this enhances your credibility, or harms it?

Daddio, note the last sentence of my previous post to you. Here's evidence.

In Libertarian world, the individual would have to face the corporations and the powerful elites while standing alone.

I don't even know what this means? "Face the corporations?" You do that now. In a Libertarian world, those corporations couldn't go to the gov't for a trillion dollars in bailouts. And facing off Nike, or Microsoft, or Sony, or HP, is just as easy as it is now: you just don't buy their products. They can't force you to buy them, they'll do as they always do; beg you to buy them, and crush other, less efficient corporations in order to bring you the best products at the cheapest possible prices. They can't control you.

And facing down Oprah or Barbra Streisand or Naomi Wolf is even easier--don't listen to their Barbra Streisand.

No thanks.

And yet, you'd love a Harley. Do you think HD would use their guns to force you to buy one in a Libertarian world? Oh right, they don't have any. Or do you think they would have the same control over you that they do now, i.e., zero.
Cordially,
Rush

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Message 828676 - Posted: 9 Nov 2008, 15:56:07 UTC

I paid under $2/gal for gas yesterday. Yahoo!
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Message 829090 - Posted: 10 Nov 2008, 22:53:37 UTC - in response to Message 828676.  

I paid under $2/gal for gas yesterday. Yahoo!
And thats about what Yahoo stock is worth as well



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Message 829097 - Posted: 10 Nov 2008, 23:11:12 UTC - in response to Message 829090.  

I paid under $2/gal for gas yesterday. Yahoo!
And thats about what Yahoo stock is worth as well


Yahoo!'s stock is worth $2/gal? ;)
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Message 829284 - Posted: 11 Nov 2008, 15:42:41 UTC - in response to Message 828676.  

I paid under $2/gal for gas yesterday. Yahoo!

All hail Dubya!

Thank you Dubya!
Cordially,
Rush

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Message 829316 - Posted: 11 Nov 2008, 18:24:07 UTC - in response to Message 829284.  

$2.32 cheapest in my area.
me@rescam.org
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Message 829327 - Posted: 11 Nov 2008, 20:52:09 UTC

the great thing about oil is that it will end.
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Message 829333 - Posted: 11 Nov 2008, 21:06:58 UTC
Last modified: 11 Nov 2008, 21:44:01 UTC

But where are the NYT articles and CNN article showing how great Dubya is for cutting the oil prices? For his administration's policies and great prescience for bringing prices down just as people need them the most? How hard he has worked to do so???

Shouldn't you all bowing down before him? Thanking him?

BTW, Obie won't have any control over it either.
Cordially,
Rush

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Message 829348 - Posted: 11 Nov 2008, 21:35:16 UTC

Headmaster Humphrey Williams addresses the bored looking assembly: “… And spotteth twice, they, the camels before the third hour. And so the Midianites went forth to Ram Gilead in Kadesh Bilgemath, by Shor Ethra Regalion, to the house of Gash-Bil-Bethuel-Bazda: he who brought the butter dish to Balshazar and the tent peg to the house of Rashomon. And there slew they the goats, yea, and placed they the bits in little pots." Here endeth the lesson."

Chaplain: Let us praise Dubya.
[The world rises.]
Chaplain: O Dubya…
World: O Dubya…
Chaplain: … ooh, You are so big…
World: … ooh, You are so big…
Chaplain: … so absolutely huge.
World: … so absolutely huge.
Chaplain: Gosh, we're all really impressed down here, I can tell You. Especially with the way you've lowered oil prices in the face of Cartels, Monopolies, and Daddio's heathen cornerites and Speculators!
World: Gosh, we're all really impressed down here, I can tell You. Especially with the way you've lowered oil prices in the face of Cartels, Monopolies, and Daddio's heathen cornerites and Speculators!
Chaplain: Forgive us, O Dubya, for this, our dreadful toadying, and…
World: … and barefaced flattery.
Chaplain: But You're so strong and, well, just so… super.
World: Fantastic!
Chaplain: Amen.
World: Amen. Hallelujah for the oil...

From the NYT:

November 12, 2008
Oil Hits a Price Last Seen in March 2007
By JAD MOUAWAD

Oil prices fell below $60 a barrel on Tuesday to their lowest level in 20 months, as weak economic growth has reduced consumption around the world.

The drop came despite growing indications that OPEC producers have been trimming output to try and stem the price decline. The cartel reached an emergency agreement last month to reduce output by 1.5 million barrels a day starting on Nov. 1.

While no official tally of OPEC production exists, several member countries — including Algeria, Qatar, the United Arab Emirates and Kuwait — have signaled that they had reduced their output by about 1.1 million barrels a day. Various reports also suggested that Saudi Arabia, the cartel’s kingpin, had warned some Asian customers that it would be paring exports by 5 percent next month.

However, according to estimates by PFC Energy, a consulting firm, producers have actually trimmed their output by only about 800,000 barrels a day.

Prices, meanwhile, continue to fall. Crude oil futures declined as much as 5 percent, falling $3.08 and settling at $59.33 on Tuesday, a level last seen in March 2007. Prices have plummeted since hitting a peak settle price of $145.29 a barrel in July.

Oil producers are facing the difficult task of trying to balance oil markets during one of the worst economic slowdowns in recent memory. The International Monetary Fund recently warned that the world faced the prospect of a simultaneous recession in the United States, Europe and Japan for the first time in more than 60 years.

The Chinese economy, long the main engine of growth in oil demand, was also showing signs of slowing. As a result, a growing number of oil specialists now expect global demand to drop this year, the first annual decline since 1983.

Oil consumption in the United States collapsed over the summer as prices reached record levels and gasoline prices above $4 a gallon.

Consumption dropped 1.8 million barrels a day, or 8 percent, to 19.3 million barrels a day in August, compared with the period a year ago, according to the latest monthly estimates from the Department of Energy. That was the lowest level for that time of the year since 1997.

Refineries were running at their lowest pace in 21 years in August, typically one of the busiest month of the year. At the same time, crude oil inventories are building at a steady clip, suggesting there is much more oil in the market that needed.

The Organization of the Petroleum Exporting Countries, whose members account for 40 percent of the world’s production, is scheduled to meet in Algeria next month. An Iranian oil official said on Tuesday that the producers might be forced to meet before that if prices continued to slide.

Michael Wittner, the global head for oil research at the French bank Société Générale, in London, said he expected OPEC to reduce production by another million barrels a day next month.

“OPEC appears to be taking this very seriously, and they are telling their customers they would be getting less crude,” Mr. Wittner said. “But prices keep falling because despite all that, the markets have been down-shifting to a lower economic growth and slower oil demand.”

David Kirsch, an oil analyst at PFC Energy, said, “What OPEC is looking for is managing the fundamentals so they can create the conditions for a price recovery at some point, when the global economy starts to recover.”
Cordially,
Rush

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Message 830420 - Posted: 14 Nov 2008, 16:29:52 UTC - in response to Message 829097.  

I paid under $2/gal for gas yesterday. Yahoo!
And thats about what Yahoo stock is worth as well


Yahoo!'s stock is worth $2/gal? ;)
my mistake yahoo ~$10.50 Ford motor company is around $2.00 a share.



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Message 830422 - Posted: 14 Nov 2008, 16:32:36 UTC - in response to Message 829333.  

But where are the NYT articles and CNN article showing how great Dubya is for cutting the oil prices? For his administration's policies and great prescience for bringing prices down just as people need them the most? How hard he has worked to do so???

Shouldn't you all bowing down before him? Thanking him?

BTW, Obie won't have any control over it either.
This was a bill that Congress passed that eliminated a loophole that allowed person to speculate in OIL futures that weren't actually involved in actual oil businesses. The bill passed with a veto proof majority so he had no choice in signing it into law



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Message 830738 - Posted: 15 Nov 2008, 4:57:54 UTC - in response to Message 830420.  
Last modified: 15 Nov 2008, 4:59:06 UTC

my mistake yahoo ~$10.50 Ford motor company is around $2.00 a share.


I bought a few thousand shares of AIG at about 20 cents less than the $1.90 I am paying for gas these days. My investment in AIG was pure gambling. I could lose it all... Guess one good thing about Bush babies terrible leadership on the economy was that oil demand plummeted and so did the price. We might all be in the unemployment and/or bread lines soon, but at least we got cheap gas.
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Message 831119 - Posted: 16 Nov 2008, 12:58:55 UTC - in response to Message 829327.  

the great thing about oil is that it will end.



I will endeavour to help this come about, by continuing to run my two Honda Legend 2.7s (one is a 225 bhp 5 speed manual) and the 3.2 coupe. I'll be doing my bit!




Don't take life too seriously, as you'll never come out of it alive!
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Message 831125 - Posted: 16 Nov 2008, 13:24:47 UTC - in response to Message 831119.  

the great thing about oil is that it will end.



I will endeavour to help this come about, by continuing to run my two Honda Legend 2.7s (one is a 225 bhp 5 speed manual) and the 3.2 coupe. I'll be doing my bit!



LOL Well done, Iona!


"I'm trying to maintain a shred of dignity in this world." - Me

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Message 831604 - Posted: 17 Nov 2008, 18:51:08 UTC
Last modified: 17 Nov 2008, 18:52:01 UTC

you can easily do more, buy some fifties big hemi block car and there might even be horsepower somewhere but it will still use easily 25-30 litres per 100 km
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Message boards : Politics : Fun with Falling Oil Hypocrisy!!


 
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