[Scooter_Rider]

If this isn't a sign of things to come, then I don't know what is:

From MSN (2/22/05):

$this->bbcode_second_pass_quote('', 'O')il prices are surging, the U.S. dollar is plunging, and stocks
are struggling.

[SD_Scott]

I'm thinking about quiting my job and moving back to the midwest.

This blows man!!!!

[Tyler_JC]

If we have a couple more weeks like this, the US (and the world) are heading straight for a recession.

That might be a good thing. It would purge the system of rampant overuse of credit and would slow oil demand, pushing the peak out a couple of years. As long as you didn't lose your job, you might have a few more years to prepare.

[SD_Scott]

$this->bbcode_second_pass_quote('Tyler_JC', 'I')f we have a couple more weeks like this, the US (and the world) are heading straight for a recession.

[Theo]

I know people have talked in the past about some smaller country deciding to get out of the dollar which causes a run and forces the bigger holders of US debt to sell. I wonder if South Korea could be that country?

[Scooter_Rider]

$this->bbcode_second_pass_quote('Theo', 'I') know people have talked in the past about some smaller country deciding to get out of the dollar which causes a run and forces the bigger holders of US debt to sell. I wonder if South Korea could be that country?

[KiddieKorral]

Crap. The more you think about that story, the bleaker it sounds.

[lotrfan55345]

And the South Koreans are such American supporters too... I wonder how not-so-American friendly countries like China will react to this.

[Scooter_Rider]

US DOW market is now down -174.02

'Captain, she can't take much more of this!'

[BabyPeanut]

Vision of the future:
http://www.usatoday.com/news/nation/200 ... usat_x.htm

[Scooter_Rider]

$this->bbcode_second_pass_quote('BabyPeanut', 'V')ision of the future:
http://www.usatoday.com/news/nation/200 ... usat_x.htm

[Barbara]

South Korea is NOT a small country. It's one of the main goods producers in the world. Think of it as the II millennium Japan.
And about worryings: I have my own canary in the mineshaft. Look at the "who"s online" on the left side of our board. When it's over 200 guests, it's time to worry.

(I switched off the fan. Dunno if I'll have another hot shower available... )

[shortonoil]

The $80 per barrel fallacy, which I posted here a couple of weeks ago, is being vindicated. $80/b oil would raise the US foreign trade deficit to about $850 billion per year. A completely unattainable level of debt. The US’s trading partners can not or will not finance debt of that magnitude. We have probably hit peak oil and prices have no way to go but up. The rest of the scenario is rather obvious.

[Free]

The funny - or scary - thing is that they blame the cold weather. If the market is that sensitive now there really is absolutely ZERO spare capacity left...

But don't jump to early conclusions - it already looked the same the last year - and it swung back and everything looked bright again. I think we will go through this rollercoaster ride a couple of times, only that every time the "normal" barrel price will be 5 to 10 dollars higher. So expect it to be interpreted as a "relieve signal" if the barrel price goes back between 45 and 50.

[shortonoil]

Spare capacity has dropped from 6mb/d in 2000 to less than 1mb/d in 2004. Spare capacity is about to go 0 b/d soon and the inelastic character of oil will take the price to about $90 real fast. At $80 or less Uncle Sam files chapter 11 with world. The American public just goes broke.

[mgibbons19]

Each spike is interesting of course, but there should be quite a bit of bouncing around for a while. Filtering the news over the last few weeks it does seem that this year may be the year spare capacity drops to 0. 2005 could be interesting that way.

[shortonoil]

It might bounce for a while, or de-shrub and his fellow weasle, Sharon could decide that an imminent regime change in Iran is necessary. In that case start looking for a good place to plant this years garden. You are going to need it.

[maverickdoc]

$this->bbcode_second_pass_quote('shortonoil', 'I')t might bounce for a while, or de-shrub and his fellow weasle, Sharon could decide that an imminent regime change in Iran is necessary. In that case start looking for a good place to plant this years garden. You are going to need it.

[maverickdoc]

$this->bbcode_second_pass_quote('Scooter_Rider', 'I')f this isn't a sign of things to come, then I don't know what is:



$this->bbcode_second_pass_quote('', 'O')il prices are surging, the U.S. dollar is plunging, and stocks
are struggling.

[Grimnir]

Now Korea's saying they won't dump the dollar after all. Er...what happened?

http://quote.bloomberg.com/apps/news?pid=10000006&sid=apFzN5jrPTQA&refer=home