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JimDiGritz

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Everything posted by JimDiGritz

  1. http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8571414/Dubais-financial-crisis-laid-bare-as-217-new-properties-axed.html It's what we all know, but the tide of HPC news is mounting... Goodbye Dubai.
  2. Absolutely. Some successful people believe that god is helping them because they are special, I'm sure that others will be busy checking out chicken entrails for advice. Easy to confuse correlation with causation.
  3. Hehe, okay you got me - I thought you were all being serious about the astrology stuff!!! Doh!
  4. "There is no force, known or unknown, that could possibly affect us here on Earth the way astrologers claim. Known forces weaken too fast, letting one source utterly dominate (the Moon for gravity, the Sun for electromagnetism). An unknown force would allow asteroids and extrasolar planets to totally overwhelm the nearby planets." Just wanted to drop in some actual science to cut through all this woowoo that is starting to make this thread smell. You'll be suggesting that god exists next...
  5. All very interesting Peter, and progress is always welcome when it comes to energy. However, I would add a note of caution to this tale. The problem with all renewables is that the industrial application is limited by the location of the resource and the location of the need. Eg. Not a lot of wind/sun/tidal power in Birmingham/Sheffield/Swindon, yet that is where a large amount of industry is based. Therefore before this kind of technology can be practical the UK (and other countries) will need a radical overhaul of the transmission and distribution system of our electricity grid. This would take a truly, stagggeringly massive investment, which would take decades to ROI. I can't see many governments taking multi-generation long view right now, can you?
  6. 4. They drive: 5yr(ish) old VW Golf. 8 year old Land Rover Defender a 10 year old Jag (not sure which) a Fiat 500 (quite new) They also dress very simply as well, I doubt it is George at ASDA but they don't flaunt it. If you met any of them in the street you would assume that they were "not doing very well"
  7. There is a direct correlation between flash cars and leveraged lifestyles. All the seriously wealthy people I know drive distinctly average cars (£5m+ wealth plus)
  8. Oddly I find it hard to distinguish between Jonathan Davis and Hugh Hendry on the radio. They both have similar accents, and are both pointing out that the emperor has no clothes on. That's meant as a compliment..
  9. http://www.moneysavingexpert.com/poll/24-05-2011/whatll-happen-to-house-prices-may-2011
  10. Some of my family lived there for a while about 8 years ago, most of it is very rough - quite deprived. Obviously if you head out of town there are some lovely villages... My 2p
  11. They just need to launder the money now... I'll get my coat....
  12. Fu(k party politics Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide. (Quote by - John Adams) .
  13. I believe that there was a previous US President who tried to introduce monetary reform to the USA. He said: “... (we) gave the people of this Republic the greatest blessing they have ever had – their own paper money to pay their own debts...” His name was Abraham Lincoln. Unhealthy thing.. monetary reform...
  14. Gordon Brown saved the universe didn't he? Surely must be Number 1???
  15. What, first charge on a depreciating asset that is in negative equity.. that will help return council services back to their heady heights.
  16. I agree, very odd feeling. As an aside, the MSE investing & saving forum has pulled all posts discussing silver (physical or paper) citing that they contravene the ramping and miss-selling rules (http://forums.moneysavingexpert.com/showthread.php?t=3086530)!!! Bear in mind that Sibley and Hamish McTavish are still over there ramping pwoperdy and you are welcome to give shit advice about shared-equity home ownership, or any stock you like.. but mention S I L V E R - even in a very neutral way - and the thread gets deleted.. Is someone scared???
  17. Yes, indeed. Half a trillion pounds of our fiat money sorted that out beautifully.
  18. We have been in a deflationary depression since 1982, it's just that cheap, easy credit has masked it. The easy availability of cheap credit has conveyed a considerable amount of price support - price support that will be progressively withdrawn as credit tightens. Prices will fall, but the collapse of credit will cause purchasing power to fall faster than price, leading to the apparent paradox of nominally cheaper goods being less affordable in the future than nominally more expensive goods are today. Moreover, there are likely to be substantial changes in relative prices between essentials and non-essentials. As a much larger percentage of a much smaller money supply will be chasing essentials such as food and energy, there will be relative price support for those items. In other words, while everything is becoming less affordable due to the collapse of purchasing power, essentials such a food and energy will be the least affordable of all, whatever the nominal price. People commonly speak of unaffordable prices as a result of inflation, but do not realise that deflation can have the same effect, only much more abruptly.
  19. EROEI trumps desperation. Oil Shale and Tar Sands CANNOT be scaled up to replace Ghawar sized oil fields... without creating $200-300bbl oil.
  20. I stopped reading at "an ordained Baptist minister for 28 years". I won't be getting my rational, evidence based scientific research from someone who has an invisible friend in the sky and also believes that the earth was created about the same time as we domesticated the dog.
  21. Peak Oil is not a theory, it is a description of an extremely well characterised process and you are confusing the issue. Peak production does not align with peak oil. The other parameter you have missed out is the price of crude oil. In 1990 (your first datapoint) crude was trading at around $30bbl, today it is $90bbl.. and this is whilst we are in the mother of all structural recessions with huge potential future demand upside from emerging markets yet to fully feed into prices. This shows that the cost of production has increased (deepwater drilling, energy security, tar sands etc), and that demand is also increasing. As for the extreme oil sources like tar sands, they are the desperate attempts to use technology to make previously unthinkably expensive oil available at just incredibly expensive prices. They are also never going to replace the scale of modern near surface deposits... no way you are going to get 5 million barrels a day out of the tar sands, because you cannot scale it up. The energy returned on energy invested is extremely low, and essentially it's an arbitrage between natural gas and syncrude. So the energy you're putting in, in the form of natural gas, is not that much less than the energy you're taking out in the form of liquid fuels. So yes, you are creating liquid fuel from gaseous fuel, but it's really not an energy source.
  22. I know that cheques are being phased out.. but you still remember how they work don't you?
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