JoeSpareBedroom wrote:
"Bert Robbins" wrote in message
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"Bert Robbins" wrote in message
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JoeSpareBedroom wrote:
"Bert Robbins" wrote in message
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JoeSpareBedroom wrote:
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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?
Who said anything about Bush? FRBS = Federal Reserve Banking System. You
know they guys that are independent of the three branches of government
and who set monitary policy in the US.

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.
What have you stopped doing due to the increase in oil? Have you stopped
eating? Have you lost your house? Have you given up driving your car or
boat? Have you reduced the number of movies you go to? Have you stoped
funding your 401k or your IRA? How has the increase in oil price
materially affected you?

You must be stoned. Or, somebody else does the shopping in your house.



Typical Doug non-answer and an attempt at shifting the conversation.