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Ghosts of 2008 - $100.00 plus Oil, rising fuel prices



January 09, 2011 – Comments (7)

As oil prices rocket past $100.00 again,the market pundits are asleep. This will stop any recovery In It's tracks,and could send the stock market Into a nose dive....  Everything Is rising.... Oil,food,gas,groceries,gold,silver,rare earths, (just about ALL commodities) and of course,the stock market. All of the usual media cheerleadeers were trumpeting that the jobless rate fell to 9.4%,but what they forgot to add Is that most all of the jobs were temporary (for the christmas season) and they also forgot to mention the tens of thousands of people that just GAVE UP looking for work. The unemployment number that Is constantly used by our government and the national media Is meaningless. REAL UNEMPLOYMENT Is over 20%. The stock market,the oil market,and just about everything else that Is skyrocketing Is being manipulated by speculators with access to large amounts of capital. The average "Investor" Is on the sidelines. With U.S Government debt approaching 14 Trillion dollars,and a FED that keeps printing money,we are headed for ANOTHER financial BUST In the not so distant future.....  When I read articles like this .....    It really gives me reason to pause. The housing market Is still In shambles,the average consumer cannot get credit,and there are not enough jobs being created to sustain an economic recovery. This Is not about gloom and doom,It Is about reality,and at the present time I am afraid that there Is more risk to the downside In the stock market than upside potential....     TS 

7 Comments – Post Your Own

#1) On January 09, 2011 at 8:16 PM, Starfirenv (< 20) wrote:

Hi TS- We crossed the $14 Trillion mark on 12/31/10. From here and I think you will enjoy the read-

If you believe

As pointed by Warren Buffett, the percentage of total market cap (TMC) relative to the US GNP is “probably the best single measure of where valuations stand at any given moment.” Then yes, the market is "modestly Overvalued"
Good site.

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#2) On January 09, 2011 at 8:29 PM, topsecret10 (< 20) wrote:

   Thanks Starfirenv ...    :-)

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#3) On January 09, 2011 at 11:33 PM, checklist34 (98.73) wrote:

the other ghosts of 2008 are a big "inflation is coming" commodity spike ending in one of histories greatest bloodbaths...

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#4) On January 10, 2011 at 2:14 AM, awallejr (33.35) wrote:

This is not a surprise.  Commodities will continue to rise simply because of a demand issue out of the emerging markets.  This stuff is basically finite.  Yet the demand isn't.

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#5) On January 10, 2011 at 9:14 AM, russiangambit (28.89) wrote:

The rest of the world, especially, poor countries are already feeling quite acutely the rise of commodity prices by 20-30%. It is a big problem for them.This is too much for one year. For this reason I think commodities will pull back ( or better pull back) a bit for a few months , they can't continue rising like this or it will cause major dislocations in the world. And here I mean mostly food commodities, oil can probably continue for a bit since it mostly affect US and US has deeper pockets.

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#6) On January 10, 2011 at 8:41 PM, topsecret10 (< 20) wrote:

Presto! 9.4% Unemployment! How The Government Lies Hooray…Happy days are here again!

That is exactly what the elite would have us believe with the 9.4% unemployment number in this huge CONfidence game otherwise known as the USEconomy.

During times of universal deceit, telling the truth becomes a revolutionary act” -George Orwell


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#7) On January 12, 2011 at 9:50 PM, topsecret10 (< 20) wrote:

Oil Rises a Fourth Day After U.S. Stockpiles Drop, Equ

Jan. 13 (Bloomberg) -- Oil rose for a fourth day after U.S. crude inventories declined more than analysts forecast and equities gained amid signals European officials are stepping up efforts to solve the debt crisis.

Futures climbed to a 27-month high yesterday after an Energy Department report showed stockpiles dropped 2.15 million barrels to 333.1 million last week, the lowest level since February. Supplies were forecast to drop 1.4 million barrels, according to a Bloomberg News survey. U.S. stocks rose, sending benchmark indexes to the highest since August 2008.

“It was a big drop in crude-oil stocks, but not out of bounds of expectations,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester Massachusetts. “Portugal is likely to see a rescue package, and that’s cause for relief. The European financial crisis has been a major concern for the past year.”

The February contract rose as much as 30 cents, or 0.3 percent, to $92.16 a barrel in electronic trading on the New York Mercantile Exchange, and was at $92.09 at 10:52 a.m. Sydney time. Yesterday, it climbed 75 cents to $91.86, the highest settlement since Oct. 3, 2008. Prices are up 16 percent from a year ago.

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