[PeakingAroundtheCorner]

Between the DOW rising 500 points in two days and oil losing $8 and gold, silver on the way down, we're beginning to look a little foolish.

[Andrew_S]

Patience, patience. Short term movements don't matter in the long run. It might be spring before crude consistently stays at or above $100. Also looks like a recesson starts in the U.S.A. next year.

[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('Andrew_S', 'P')atience, patience. Short term movements don't matter in the long run. It might be spring before crude consistently stays at or above $100. Also looks like a recesson starts in the U.S.A. next year.

[Andrew_S]

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', '
')I know it's short term and you're right about patience. But I was just at work where I don't have access to information and I was just telling a co-worker how bad things were getting and then I come home for lunch and find myself proven wrong. This person will come to work tomorrow giving me the business about what a downer I am.

[wisconsin_cur]

I'd say just smile and add "If one day makes everything alright, well I hope that works for ya'."

You are going to look like a fool on any given day. The key is if we are right about the long term trends.

[UncoveringTruths]

If the economy turns around so will the price of crude. What you are seeing are folks grasping for any good news and when they are given a crumb the day is siezed by economic optimism damn the hangovers. Fools? I think not!

[idomar]

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', '
')
CNN was saying this moring that we could see 5.5% unemployment in 2008 and they spoke about a coming recession yesterday morning. They are certainly spoon-feeding the bad news - but it better than their track record of ignoring bad news in favor of Hollywood trash stories.

[Aaron]

[Twilight]

The world economy is living on borrowed time.

It has to, no-one will lend money!

Badum-tish!

Just tell him every stock market rally these days represents a passing of risk to idiots.

[EnergyUnlimited]

I suspect that current oil price drop is an effect of some heroic attempts to prop up Christmas shopping.
We shall see...

[Kingcoal]

Well sir, if you feel like a fool for believing in and preparing for PO, then you are a fool. PO is a gradual/sudden process. Look at it this way; EVERONE wants the dow to go up, gold and oil to come down. Who is this mythical everyone? The rich and powerful, the titans of industry, politics, banking, etc. They collectively conspire to stack the deck, they always have and always will. The problem is that mother nature isn't as accommodating as us peons. If the powers that be had their way, oil would be $2/bl and the dow would be at 500,000 by now.

[bonehead]

Opec's boosting output,Iraq's starting to look a little better and boosting their own production,Mideast peace talks starting up.The speculative greed priced into a barrel of crude is taking a hit.This market is completely unregulated and with this kind of news i think it would be hard to justify $100 a barrel.This is just my opinion and i think as soon as somebody farts on an oil rig they'll start jacking up the price again.Demand has also fallen slightly as compared to this time last year.

[jasonraymondson]

Everything takes time. Minus nuclear war we are looking at the slow process towards the end game. Year by year things will get worse and we will slowly attempt to adapt. Until we reach that point where we can no long adapt nothing will change that much, but when gas gets above $170.00 and the dollar is below 50 and gold is 1200 then we wil see the greatest depression immaginable. Unemployment will reach 30% and that will probably be as bad as it gets. Yes crime will skyrocket and millions will be homeless but we are not going to see mad max or dark angel. What we are seeing is the restructuring of the world economy towards the next stage.

We are looking at a 25 - 50 year process. After that I don't know. Will the US still be a republic or will there be something else? There are so many questions, but minus and all out world war, we will survive and the world will recover.

This is what is really going to go on and you can quote me. We all have doomer fantasies that we want to come to light, but we are just in for really poor economic times and this is the truth

thus speaketh the Village Idiot

[kadoomsoon]

We will be totaly out of oil in 7 years.

[Lighthouse]

$this->bbcode_second_pass_quote('kadoomsoon', 'W')e will be totaly out of oil in 7 years.

[kadoomsoon]

Wish I weren't.

[Tyler_JC]

$this->bbcode_second_pass_quote('kadoomsoon', 'W')ish I weren't.

[sittinguy]

I have to admit I am feeling the same way(a little foolish). I did think it was going to just keep going down and down. I will be patient, its just a christmas pop. But I think Twilight is on to something. They have been waving the recession flag for a while now. And I fully believe it is a warning to the big dogs that its time to back out slowly and all the ding dongs with 401k's will be left holding the bag. Alot of guys where I work have 401k and they have NO CLUE that their money is tied to the market NO CLUE. I am stunned at the stupidity. I got a couple of them to check up on the amount,, and hey whata know they have lost some money,, what a shocker I moved all my money out about a month ago, Now on CNBC (doomer tv) they are talking about home equity problems along with subprime. I personally think the free ride is over for all these poeple living above their means. I don't know how some of these people can sleep at night with all the dept they are floating. My TV crapped out the other day. I didn't run out and get a flat screen, I bought a used one for 50 bucks. I got a years supply of freeze dryed food delivered last weekend, so I know how you feel. It will be back to doom very soon.

[venky]

Why should we care about short term trends affecting our view of the broader picture. We know oil production will decline soon; soon can mean anything from now to about 20 years in the future to be totally safe.

What will happen then is totally conjecture, nobody really has a clue. Most here tend to start off by assuming that we are screwed.
I think that is what puts people off peak oil.

[Stratovarius]

$this->bbcode_second_pass_quote('kadoomsoon', 'W')ish I weren't.