[cube]

$this->bbcode_second_pass_quote('JohnDenver', '
')See that steely look in his eye?
Give yourself a good gut check, because that's the man who's going to rip your speculating lungs out with the stroke of a pen. It's gonna be jes like back in the 70s. Everybody was wallowing in the commodity pigpen, having a gay ol' time until Volcker decided to clean house.

[Cashmere]

Jack, I think that there's much truth in what you say - I just think the timeline is getting shorter every day.

At some point, when the diesel is not there to bring the food to where it's needed, there must be bread lines.

Maybe 2 years. Maybe 5.

Hard to see how it could be beyond 10.

What I think the main motivation for LTF storage should be?

Avoiding the bread lines.

[Jack]

$this->bbcode_second_pass_quote('Cashmere', 'A')t some point, when the diesel is not there to bring the food to where it's needed, there must be bread lines.

[dunewalker]

just wanted to bump this thread in light of the correction we are now observing in the crude oil market...

[DantesPeak]

$this->bbcode_second_pass_quote('dunewalker', 'j')ust wanted to bump this thread in light of the correction we are now observing in the crude oil market...

[FoxV]

I love watching the bubble callers. They only call it a bubble when there's a price rise in something that they're not invested in. Once they invest in it, all of a sudden "its different this time".

$this->bbcode_second_pass_quote('JohnDenver', 'G')ive yourself a good gut check, because that's the man who's going to rip your speculating lungs out with the stroke of a pen.

[seahorse2]

Jack,

Just saw your post and question. I agree with that. I think with each country it is different. Stalin and the Russians tolerated purges of milliions. We in the U.S. have this view of the individual not shared by many. I do think that will have a political effect on the way the US handles this growing crisis.

[Falconoffury]

From a supply and demand perspective, only two things can stop the commodity boom. One must either increase the supply of the commodities, or reduce the supply of money. The Fed only has power over money, not goods.

A bubble occurs when speculation temporarily defies the law of supply and demand. The housing bubble occured because the supply of houses for sale were increasing and the price was also increasing. In a sound economy, an increase in supply decreases the price.

We don't have a commodity bubble because supplies are tight.

[yull]

Oil up around 10% in 2 days. Certainly a correction all right.

[jdmartin]

On an off-tangent, I wish people would refer to John Denver as JonDen, or John-boy, or Country Roads, or anything else, as I always start looking for my post whenever I read people saying anything about "JD".

Otherwise, I mostly agree with what everyone else has posted (especially the nuclear banana republic, nice analogy). Carry on!

[BigTex]

$this->bbcode_second_pass_quote('jdmartin', 'O')n an off-tangent, I wish people would refer to John Denver as JonDen, or John-boy, or Country Roads, or anything else, as I always start looking for my post whenever I read people saying anything about "JD".

Otherwise, I mostly agree with what everyone else has posted (especially the nuclear banana republic, nice analogy). Carry on!

[Cashmere]

If i'm not mistaken, this is the second time CountryRoads has made a "correction" call that immediately preceded a mini spike.

I think I'm gunnuh t-up on the longs the next time countryroads makes a short call.

[Jack]

Well, John-Boy, this is a magnificent market call! We're at $137.67, a new record! You're timing is perfect!

Oh, granted you were completely wrong about the direction, but your timing is something to behold.

[deeznutz]

"dieoff fun to watch better with butter popcorn?"

Wow, you must be a fine human being.

[Dreamtwister]

Now, let's not be too hard on JD guys...

We all know that, before the government declares backruptcy, they will have to sell of whatever precious metals they have left in reserve. They may even need to sell off some of the emergency stockpiles of rubber, lithium and whatever other raw materials they may have kicking around. That will indeed create a "correction".

Of course, once all of the real players swoop in and snatch up everything the government offers (paid for in $USD, of course), pressure to take physical posession will fully unwind the carry trade.

So JD may actually be right, though for the wrong reasons.

[Jack]

$this->bbcode_second_pass_quote('deeznutz', '
')Wow, you must be a fine human being.

[dinopello]

$this->bbcode_second_pass_quote('Jack', 'A')ctually, I'm the board sociopath.

Truly.