by threadbear » Mon 21 Apr 2008, 00:19:32
$this->bbcode_second_pass_quote('Armageddon', '')$this->bbcode_second_pass_quote('DantesPeak', '')$this->bbcode_second_pass_quote('Armageddon', 'W')e are at peak or just past peak now. Also, when the world's economy collapses in the next 12 months, demand will be 40-50% lower and we won't ever see $200.00 imo. People have no idea the magnitude of the financial crises we are facing.
If demand falls that much, I actually think the price of oil would rise even faster - because all countries around the world would be inflating like crazy.
As I recently posted on another thread, the Fed/Treasury resorted to hyperinflation in the midst of the 1930s depression - with wholesale prices rising about 80% in about a year or so (granted that was from low levels) even while demand was very weak and far below peak.
This time, with a network of supercomputers, inflation will come at hyperspeed.
I don't disagree. It could very easily happen that way.