"Bert Robbins" wrote in message
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JoeSpareBedroom wrote:
"Bert Robbins" wrote in message
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JoeSpareBedroom wrote:
"Bert Robbins" wrote in message
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JoeSpareBedroom wrote:
"Bert Robbins" wrote in message
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JoeSpareBedroom wrote:
"Jack Goff" wrote in message
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While the separate arguments he makes looks pretty good on their
face,
when you put them together it seems a bit like leaving the hen
house
unlocked, and handing the keys to the fox. Basically, let the bad
oil
companies alone set the price for the raw material they need, as
they
see fit? How's that gonna work?

What are you talking about??? The henhouse is *already* unlocked!
The presence of non-industry gamblers in the hedging process is the
largest part of the problem. Are you saying they *belong* in the
futures market because they somehow keep the oil companies
honest???
The world according to Doug Kanter, aka JoeSpareBedroom, sure must
be a rigid one. If I have money to invest or speculate on
commodities or futures why should I be limited to specific vehicles?

Your world doesn't sound like a place most of us Americans want to
live in.

It's already that kind of world. Walk into a brokerage firm and tell
them you want to play with uncovered call options. There's a 50/50
chance that they'll walk you to the door because the regulations are
designed to prevent people from jumping off bridges.
However, if I have enough of a net worth I can play with uncovered
call options.

Anyway...back to the oil subject: Oil is a product too important to be
fiddled with by monkeys. Would you agree that when the price increases
by 50%, it affects parts of the economy in negative ways?
Develop another source of usable energy that is more cost effective than
oil is and you could be rich. Otherwise, shut up and pay before you
pump.


Irrelevant. Would you agree that when the price increases by 50%, it
affects parts of the economy in negative ways?

Why is it irrelevant? Is it that you don't want to discuss alternatives
because it will spoil you current activity of slamming the Bush
Administration?

How many people have been laid off due to the increase in oil costs? How
many people have gone bankrupt due to the increase in oil costs?

The more interesting piece of economic news of late is the potential
increase in the forclosure rate due to the variable interest rate
mortgages rising considerably over the next two years. The general, pre
oil price rise, trend over the last two years that is predicted by the
FRBS is more troubling. Shouldn't the FRBS be lowering the rate to keep
the current variable rate mortgage payers in paying rather than being
forclosed on?

He says sitting on a 5.75% 30 year fixed interest rate mortgage.

You're drinking again. What's Bush got to do with the futures market, which
has been around since before he was scraped out of his petri dish?

You're right about oil though. Its cost is only important to the cars we
drive, and anything that needs to be shipped. That's not much. Every now and
then, I push a button and see a graph of the per mile trucking costs my
company and ALL others have paid over the years. It's a steep curve over the
last 40 months or so. But, it must be wrong, even though the figures come
directly from our invoices. Maybe I need my glasses checked.