jcd11235 0 #76 July 7, 2008 QuoteI'm not citing webpages to justify why my 401k and house value took a dump. Those items are simply a side-effect of a shitty Congress who has done nothing for us in the last 2.5 years. It's all related. I certainly hope your ability to invest wisely exceeds your ability to keep track of how much time has passed since January 4, 2007.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
Amazon 7 #77 July 7, 2008 VooDoo Economics works in strange and mysterious ways... doesn't it. Quote Share this post Link to post Share on other sites
jcd11235 0 #78 July 7, 2008 QuoteRemember when the Republican Party actually stood for smaller government... a control on spending... and moderates were welcome in the GOP??? No, but I'm only in my mid thirties.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
Gawain 0 #79 July 7, 2008 Quote >Demand (and prices) will continue to rise as countries like India and China >continue to use more oil. And yet when that has happened in the past (demand increased) prices did not generally spike. This recent increase is due to the fact that we are running out of cheap oil. The Saudis are increasing their output by a bit, but it is looking more and more like they're close to their maximum (despite their rosy marketing claims.) Would you please cite a source for this please? Because, I can cite a source indicating that the Saudis are in process of being able to boost production a further 1.2m bbls per day within a year. Quote And the Russians have just admitted their production will peak in a few years. And a source for this too, as what I've read indicates that joint ventures like TNK-BP are on verge of some great exploration finds. Quote You may not call that "running out of oil" but to most people, that's what's happening. Despite some estimates of trillions...trillions of bbls of oil from shale in the rocky mountains alone... I'm all for curbing usage, but to give a rubber stamp to that idea, without being able to do the same to fast track development of supplemental energy sources is wrong in my view. Don't know what I mean, read here. Edit to fix my linky-skills... So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
jcd11235 0 #80 July 7, 2008 QuoteRunning out of Oil...? I don't think so. Demand may be exceeding supply but we are not running out of oil. Are we creating new petroleum? If not, then we are running out of oil, because we're certainly using it (i.e. total supply is decreasing).Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
nerdgirl 0 #81 July 7, 2008 QuoteQuoteThe Saudis are increasing their output by a bit, but it is looking more and more like they're close to their maximum (despite their rosy marketing claims.) Would you please cite a source for this please? Because, I can cite a source indicating that the Saudis are in process of being able to boost production a further 1.2m bbls per day within a year. Maybe I’m missing it (?) … that citation notes increasing production on already proved reserves, which will move KSA's peak oil to the left, i.e., if one pumps & uses what’s in the ground at a higher rate, there’s less there. The article “Trouble in the pipeline: Despite booming demand and record prices, Russia's oil industry faces problems” does note: “In principle, Russia’s bonanza could continue for years: it has the world's seventh-biggest oil reserves, at 80 billion barrels, according to BP, a British oil firm. And oilmen reckon there are 100 billion more barrels to find—“the biggest exploration prize in the world”, in the words of Robert Dudley, the boss of TNK-BP, BP's Russian joint venture. But Russia has regulated the industry so poorly that production is falling despite the soaring oil price,” among other observations on Russian oil & natural gas and the business therein. 100 Billion (US or British Billion?) Current world oil consumption rate estimated (by BP) at >85 Million barrels per day; US consumption was >20 Million barrels per day in 2007. How long will the “biggest exploration prize in the world” last at those consumption rates? (Even w/out factoring in a conservative 0.9 Mb/d growth rate, per BP). Citation on proved global oil reserves Recent data on Global Trends in Sustainable Energy Investment prepared by UK-based New Energy Finance for UNEP’s Paris-based Sustainable Energy Finance Initiative (released 1 July): “Over $148 billion in new funding entered the sustainable energy sector globally last year, up 60% from 2006, even as a credit crunch began to roil financial markets. “Wind energy again attracted the most investment($50.2 billion in 2007), but solar power grew most rapidly: attracting some $28.6 billion of new capital and growing at an average annual rate of 254% since 2004, driven by the advent of larger project financings.” “The picture since the end of 2007 has been somewhat subdued across the sector, with only mergers and acquisitions up as several substantial wind developers sold their portfolios-many realising that with the tightening up of the credit markets they could not finance the growth themselves-and the US ethanol industry undergoing restructuring. But in the second quarter of 2008 most areas of investment rebounded, even as global financial markets remained in turmoil. Sustainable energy venture capital and private equity in Q2 2008 was up 34% on Q2 2007, new build asset finance was up 8% and public market investment showing a strong recovery with the IPO of Portuguese utility EDP’s renewable energy business, EDP Renovaveis.” VR/Marg Act as if everything you do matters, while laughing at yourself for thinking anything you do matters. Tibetan Buddhist saying Quote Share this post Link to post Share on other sites
billvon 3,112 #82 July 8, 2008 >it has the world's seventh-biggest oil reserves, at 80 billion barrels, >according to BP, a British oil firm. I think one of the biggest problems we face in determining how quickly we'll drain our last reserves is artificial inflation of reserves. Look at Saudi Arabia alone. Between 1989 and 1990, Saudi Arabia claimed that their reserves increased from 170 to 258 billion barrels, despite having no new major discoveries. Did someone in their oil ministry discover a math error and correct it? Or is that more an educated guess? If so, do they have any incentive to artificially inflate their estimates? Turns out there are several such incentives. One is that oil companies generally invest in a country based on what their reported reserves are. Another is that the OPEC quota system allows greater output for countries with greater reserves - so more reported reserves, more money from oil sales. Another worrisome thing is that even countries that are exporting tens of billions of barrels of oil - i.e. exporting a significant fraction of their reserves - are not decreasing their stated reserves. It's as if they are claiming that their oil is being replenished, or that new discoveries are exactly balancing exports, which is generally unlikely. How long the oil lasts won't depend on clever political maneuvering, of course, but it will affect how much warning we get. If we run out of oil over the course of two decades, the world will be a very different place, but we will likely get by. If one day we wake up and Saudi Arabia reports that they really don't have any significant reserves left, then the crash is going to be much, much harder and deeper. Quote Share this post Link to post Share on other sites
base428 1 #83 July 8, 2008 C'mon, can't you just say my math is bad? I should have said 1.5 years instead of 2.5 years......which means the dems have screwed things up in far LESS time than I originally calculated. Quote I certainly hope your ability to invest wisely exceeds your ability to keep track of how much time has passed since January 4, 2007. (c)2010 Vertical Visions. No unauthorized duplication permitted. Quote Share this post Link to post Share on other sites
SpeedRacer 1 #84 July 8, 2008 How exactly did the dems mess things up? Did the democratic legislature CAUSE the credit crisis/housing bubble/high fuel prices? Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites
kallend 2,147 #85 July 8, 2008 QuoteHow exactly did the dems mess things up? Did the democratic legislature CAUSE the credit crisis/housing bubble/high fuel prices? He's already told us that he can't be bothered to supply any FACTS to support his claims. We just have to believe his opinions despite clear facts to the contrary.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
kallend 2,147 #86 July 8, 2008 QuoteQuoteI'm not citing webpages to justify why my 401k and house value took a dump. Those items are simply a side-effect of a shitty Congress who has done nothing for us in the last 2.5 years. It's all related. I certainly hope your ability to invest wisely exceeds your ability to keep track of how much time has passed since January 4, 2007. His own statements suggest that is not the case, since both his 401k and his house "took a dump". His ability to analyze the reason seems on a par with his math ability. Greedy hedge fund managers, greedy investors, greedy realtors, and greedy banks had nothing to do with it, just blame Nancy Pelosi.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Leapinglizardto 0 #87 July 8, 2008 wow. I had plenty to respond with. but billvon, kallend & freeflychile took care of most of that for me. [;]just reread them & pretend its me. As far as gas being cheap in 2006 before the Dems took over congress. WTF, I remember gas hitting $4.69 & ^ a gal. well before Katrina hit. triple what it was when a republican took over the white house. here's one for you. What was the national debt when Bill left office & 'Dub'ya Hardships' took over? what is it now?It's pretty pathetic when you have to TELL people you're fucking cool Skymama «narrative»This thread will lock in 3..2.. What a load of narrow-minded Xenophobic Bullshit!-squeak Quote Share this post Link to post Share on other sites
base428 1 #88 July 8, 2008 It's pretty easy to get some of you die-hard Bush haters all worked up! I know some of you live your lives here in Speakers Corner all day long, surfing the web in search of new stories to tell and facts that'll back up your twisted beliefs. When someone comes along and states an anti-dem opinion, you instantly cry for facts. It's an OPINION. Deal with it. There are numerous factors in the demise of our economy, far beyond a lame Congress. But I do believe our democratic Congress is seriously misguided (oil profit taxes, Bush impeachment proceedings, etc.) and they've contributed to the misfortune that has overtaken our great country. PS. I'm pretty good at math, check my profile.(c)2010 Vertical Visions. No unauthorized duplication permitted. <==For the media only Quote Share this post Link to post Share on other sites
nerdgirl 0 #89 July 8, 2008 Quote There are numerous factors in the demise of our economy, far beyond a lame Congress. But I do believe our democratic Congress is seriously misguided (oil profit taxes, Bush impeachment proceedings, etc.) and they've contributed to the misfortune that has overtaken our great country. Concur with some of your comments. Where or what role do you see for the free market in the types of phenomena you've related in this thread? We often tout the power and success of the free market to drive innovation and spur competition. At the same time, the free market is not "fair" to put a concise descriptor on it. There will be winners and losers. How many & what severity of the latter one is willing to accept varies highly across capitalist economies. Do you see that as having any role in the domestic and global subprime mortgage crisis and associated liquidity, speculation, and credit problems? VR/Marg --- -- - -- --- Tangent: Am I the only one who dislikes the initial title of this thread: "Happy F&*king 4th of July"? ... hmmm ... reconcile as a minor component of those "numerous factors" with closing independent clause of the comments quoted above. Act as if everything you do matters, while laughing at yourself for thinking anything you do matters. Tibetan Buddhist saying Quote Share this post Link to post Share on other sites
billvon 3,112 #90 July 8, 2008 >But I do believe our democratic Congress is seriously misguided (oil >profit taxes, Bush impeachment proceedings, etc.) and they've contributed >to the misfortune that has overtaken our great country. There have been no windfall profit taxes leveled on oil companies. There have been no impeachment proceedings against Bush. It's fun to blame democrats for everything from bad breath to your 401k woes, but in this case there's nothing to support your bash. >When someone comes along and states an anti-dem opinion, >you instantly cry for facts. Sorry, didn't realize you were going the fact-free approach. Quote Share this post Link to post Share on other sites
base428 1 #91 July 8, 2008 Well, duh. But Congress wasted time focusing on windfall profit taxes and impeachment proceedings when they should've focused on much more important issues. QuoteThere have been no windfall profit taxes leveled on oil companies. There have been no impeachment proceedings against Bush(c)2010 Vertical Visions. No unauthorized duplication permitted. <==For the media only Quote Share this post Link to post Share on other sites
billvon 3,112 #92 July 8, 2008 > But Congress wasted time focusing on windfall profit taxes >and impeachment proceedings when they should've focused on much >more important issues. What law do you think they could have passed that would have protected your investment in your home or your 401k? Quote Share this post Link to post Share on other sites
base428 1 #93 July 8, 2008 That's a pretty "heavy" question, Marg! I'm not an economist, nor do I play one on dropzone.com. If opinions are still permitted here, then proceed: I trust that the free market will eventually sort our subprime mortgage, energy, and other associated problems. In the meantime, it would be nice to have the assistance of our elected officials in determining the proper path. I don't believe people affected by the subprime mortage crisis should be bailed out, rather, I'd like to see people be educated so that they can make proper decisions in the future. In regards to oil prices, the free market has already done its job in my family with a downpayment placed on an electric vehicle. The bottom line: A little common sense goes a long way when you're signing a mortgage loan or filling up your gas guzzling vehicle. QuoteDo you see that as having any role in the domestic and global subprime mortgage crisis and associated liquidity, speculation, and credit problems? (c)2010 Vertical Visions. No unauthorized duplication permitted. <==For the media only Quote Share this post Link to post Share on other sites
Plover 0 #94 May 25, 2013 Amazon Quote It's also my opinion that Amazon has officially typed the word "rePUBICan" way too many times. I guess capitalizing the word "PUBIC" in the middle of another word just never gets old! Not when the Party of Morality.. believes anything to do with PUBIC is something that needs to be controlled from the pulpits across America. Remember when the Republican Party actually stood for smaller government... a control on spending... and moderates were welcome in the GOP??? I do.. and that party is gone. Oh my! Quote Share this post Link to post Share on other sites
