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I just bought back my home - That $80 oil possiblity

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October 10, 2008 – Comments (15)

Canada has an election next week and with today's news there is nothing that can sway me to give this current government my vote.

Looks like Canada is throwing an additional $25 billion of our tax dollars to prop up housing by buying insured mortgages, so whether I like it or not, as a tax payer I have become the owner of the mortgage on the home I sold in January.

Finance Minister Jim Flaherty is an idiot.  Sure Canadians aren't going to lose anything from this deal.  Canadians worked so hard to bring out debt down and it looks like the morons in office have set us on a course to undo 10-20 years of hard work.  I have defended Canada and that the strength of our dollar doesn't not represent our true strength, but these idiots have me re-evaluating my beliefs.

 

Back in July I did a post titled Oil $110 or $150 first.  I quote:

"Given that when oil was $100 I thought it would dip back to around $80...  Well, I am still not convinced we won't see oil do a dip below $100, but it is certainly harder to see that $80 possiblity... "

I can see clearly now...

Oil $80.22 as of this writing.

15 Comments – Post Your Own

#1) On October 10, 2008 at 9:54 AM, dwot (95.70) wrote:

DJIA 8,316.03 -263.16

NASDAQ 1,614.07 -31.05

TSX Gold 264.77 +5.41 RUSSELL 490.79 -8.41

GOX 122.86 -0.11

NYSE 5,599.27 -210.71

TSX 9,291.21 -308.97

USD 81.76 +0.22

HUI 283.21 -1.00

NIKKEI 8,276.43 -881.06

JSE 1,942.52 +218.70

Crude Oil 79.68 -6.91

Oil below $80...

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#2) On October 10, 2008 at 9:56 AM, outoffocus (23.61) wrote:

WOOHOO! Cheaper gas. I can afford to save again!

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#3) On October 10, 2008 at 9:57 AM, dwot (95.70) wrote:

Oil $79.10

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#4) On October 10, 2008 at 10:53 AM, Gemini846 (80.98) wrote:

Funny how long it takes to see it. We paid 20c extra / gal every time there was a pipe problem but now oil has fallen $70/bbl and we've saved 25c at the pump. WTF

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#5) On October 10, 2008 at 11:41 AM, martynanasi (98.63) wrote:

Hey Dwot,

Congrats on hitting top fool. I guess us Canadians maybe know a thing or two about US investing.

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#6) On October 10, 2008 at 12:43 PM, Jro81 (< 20) wrote:

The prices aren't going down b/c the Cdn $ is tanking .... Who are you going to be voting for the NDP, Liberals?? ... They know how to spend money ...

Jared

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#7) On October 10, 2008 at 12:44 PM, GNUBEE (26.66) wrote:

Deb,

You were just too conservative in your range. Only with sensationalism would your post have gotten the kind of traffic that the Demon/Semper bet did. You have to "supermegatotheextreeme" anything to get people to listen

Semper buddy, I always knew you were the horse to bet on.

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#8) On October 10, 2008 at 12:54 PM, DeerHunter73 (72.57) wrote:

Next to cause paid is the alt-a mortgages and the commercial real estate. My guess is 6 years from property bubble burst to bottom, only 3 year into it now, Florida burst in 2005.

The bubble didnt pop in florida untill the begining of 2007. Ive got graphs showing this msl reports etc.

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#9) On October 10, 2008 at 1:32 PM, AnomaLee (28.72) wrote:

Next to cause paid is the alt-a mortgages and the commercial real estate. My guess is 6 years from property bubble burst to bottom, only 3 year into it now, Florida burst in 2005.

D.wot you gotta fix that typo!

Who's getting paid?

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#10) On October 10, 2008 at 1:47 PM, SwordAgain (< 20) wrote:

"Next to cause paid"  - Not sure what that means.  Please explain.

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#11) On October 10, 2008 at 2:30 PM, dwot (95.70) wrote:

Thanks AnormaLee.  SwordAgain, if you really can't see a typo for what it is are you sure you should be investing? 

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#12) On October 10, 2008 at 3:46 PM, SwordAgain (< 20) wrote:

It was an honest question without any malice, dwot.  But your reply was well.....  arrogant. 

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#13) On October 10, 2008 at 6:20 PM, dwot (95.70) wrote:

SwordAgain, people that notice a typo point it out nicely like AnormaLee.  People respond with the way you do are belittling, especially right under a comment pointing it out. 

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#14) On October 10, 2008 at 6:34 PM, DeerHunter73 (72.57) wrote:

dwot i wasnt makin fun or bad comment on your statement, i was merely stating fl didnt peak till end of 2006 beggining of 2007.

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#15) On October 10, 2008 at 10:58 PM, dwot (95.70) wrote:

Deerhunter, I wasn't referring to your comment. 

I was in Florida in 2006 and I have a friend who was thinking about selling at that time but prices had already started to decline, and not realising what was coming, well, the common thing to do was to wait a bit until the market recovers.  Construction was also incredibly insane at the time.   Schiller index for Maimi shows the beginning of 2006. I am sure I have seen a graph somewhere showing Florida leading the pack by about 6 months in the bubble bursting, yet the one showing 3 cities shows them peaking very close to each other...

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