Realistbear Posted June 30, 2008 Share Posted June 30, 2008 http://biz.yahoo.com/cnbc/080630/25454697.html CNBC A Hurry-Up Offense for the Second Half Monday June 30, 12:36 pm ET It was an ugly first half for the stock market and now that the goal posts have been moved for the economic recovery, expect a rough game in the second half. "I'm afraid we're not going to see [an economic] recovery until sometime in 2009 … probably well into 2009," says John Alexander, a finance professor at Clemson University, citing bank woes, energy prices and the real-estate slump for the delay..../ OPEC President Chakib Khelil went on further last week, saying oil prices could reach as high as $170 a barrel this summer . OPEC have the West over a barrel it would seem. I'll get my coat.................. Seriously though, I think the Sheiks have the power and the desire to break the West so that the sovereign wealth funds can effect a systematic takeover of all assetts including banks and other institutions as there is no way they are going to be able to spend all that wealth on building more and more super-cities in the sand. Quote Link to comment Share on other sites More sharing options...
yawnIHateSundays Posted June 30, 2008 Share Posted June 30, 2008 OPEC have the West over a barrel it would seem. I'll get my coat.................. Seriously though, I think the Sheiks have the power and the desire to break the West so that the sovereign wealth funds can effect a systematic takeover of all assetts including banks and other institutions as there is no way they are going to be able to spend all that wealth on building more and more super-cities in the sand. I predict there will be major war in less than 10 years. Iraq will seem like a petty squabble. Quote Link to comment Share on other sites More sharing options...
redgenieuk Posted June 30, 2008 Share Posted June 30, 2008 Winter will be the biggest issue I think...... Demand must be decreasing though, but I'd guess it is inelastic in the west anyway - in other countries it is goverment supported which maybe also keeps it this way. Quote Link to comment Share on other sites More sharing options...
domo Posted June 30, 2008 Share Posted June 30, 2008 Could very well happen, oil won't go to infinity though, I can guarantee. Quote Link to comment Share on other sites More sharing options...
debt2let Posted June 30, 2008 Share Posted June 30, 2008 Hi guys, i'm a newbie so be gentle I'm just wondering whether your prediction includes the sight of middle eastern countries sabotaging their own oil fields by any chance? Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 30, 2008 Share Posted June 30, 2008 I predict there will be major war in less than 10 years. Iraq will seem like a petty squabble. And just think - if the US / UK had spent their warchest on renewables, nuclear, efficiency, and the railways....... :angry: Quote Link to comment Share on other sites More sharing options...
R K Posted June 30, 2008 Share Posted June 30, 2008 OPEC President Chakib Khelil went on further last week, saying oil prices could reach as high as $170 a barrel this summer. [/indent] So he's capping it at only 20% higher than it is today. Interesting. Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted June 30, 2008 Share Posted June 30, 2008 And just think - if the US / UK had spent their warchest on renewables, nuclear, efficiency, and the railways....... :angry: I think you will find the defence budget is a fraction of that of the NHS and or Benefits... something like 10% of the NHS budget I believe. Perhaps they should have starved a few doleites instead and used the money for renewables? Come to think of it, I cant think of the last time I saw athin Chav family. Unless they all smoke crack that is... Quote Link to comment Share on other sites More sharing options...
silver surfer Posted June 30, 2008 Share Posted June 30, 2008 http://biz.yahoo.com/cnbc/080630/25454697.htmlOPEC President Chakib Khelil went on further last week, saying oil prices could reach as high as $170 a barrel this summer. [/indent] When you think about oil's still pretty cheap, just no longer dirt cheap. One barrel of oil delivers the same energy as over 20,000 hours of human manual labour, so even at $170 it's still a bargain! Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 30, 2008 Share Posted June 30, 2008 I think you will find the defence budget is a fraction of that of the NHS and or Benefits... something like 10% of the NHS budget I believe. Perhaps they should have starved a few doleites instead and used the money for renewables? Come to think of it, I cant think of the last time I saw athin Chav family. Unless they all smoke crack that is... I agree - we have pissed away our wealth by giving it to lard assed chavs through the most generous welfare system - for chavs in the world :angry: Quote Link to comment Share on other sites More sharing options...
eightiesgirly Posted June 30, 2008 Share Posted June 30, 2008 And just think - if the US / UK had spent their warchest on renewables, nuclear, efficiency, and the railways....... :angry: I was explaining this today to my 14 year old. She was outraged. ' Why didn't we keep some for ourselves?' she asked. Why indeed? Quote Link to comment Share on other sites More sharing options...
yawnIHateSundays Posted June 30, 2008 Share Posted June 30, 2008 I agree - we have pissed away our wealth by giving it to lard assed chavs through the most generous welfare system - for chavs in the world :angry: Just out of curiousity, when did chavs start getting fat? My observation from around where I am was about 10 years ago when HPI had taken off. Quote Link to comment Share on other sites More sharing options...
debt2let Posted June 30, 2008 Share Posted June 30, 2008 Just pulled this up off the MOD website: "The Government plans departmental spending through the process of the spending reviews. As part of most recent settlement, the Defence Budget is set to increase from a baseline of £32.6Bn in 2007/08 to £36.9Bn in 2010/11 in Total Departmental Expenditure Limit (Total DEL). In real terms (i.e. after inflation) it represents average annual growth of 1.5%. By 2010/11 the Budget will be some 11% higher in real terms than in 1997, and represents the longest period of sustained growth since the 1980s." So no small sum for the oil stealing effort i'd say. Quote Link to comment Share on other sites More sharing options...
Minos Posted June 30, 2008 Share Posted June 30, 2008 Winter will be the biggest issue I think......Demand must be decreasing though, but I'd guess it is inelastic in the west anyway - in other countries it is goverment supported which maybe also keeps it this way. Demand certainly is decreasing - all the way down to match supply. Quote Link to comment Share on other sites More sharing options...
bendy Posted June 30, 2008 Share Posted June 30, 2008 I was explaining this today to my 14 year old. She was outraged. ' Why didn't we keep some for ourselves?' she asked. Why indeed? going to 'war' on 'terror' is the reason it is so bad and a complete waste of life and money. had the US and the UK said at the time - right, we're short on oil, the middle east has plenty of it so we're going to take them over i wouldn't have been so bothered. though i know many would. now we're an a kind of situation where we are in iraq with a mortgage and failing to pay the keep. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 30, 2008 Share Posted June 30, 2008 If the oil price collapsed tomo' would many banks, and hedge funds go under? Quote Link to comment Share on other sites More sharing options...
smiffy1967 Posted June 30, 2008 Share Posted June 30, 2008 I predict there will be major war in less than 10 years. Iraq will seem like a petty squabble. Much sooner than that, this tanding President (Bush) will bomb Iran before he leaves office 100% guaranteed. He has said he will not allow Iran to have nuclear weapons and his Israeli friends have been pushing him and pushing him, he will do it, because when he has gone, he will say i protected the world from a nuclear Iran, not only that, he will not allow a shia Islamic fundamentalist state to hold nuclear weapons and be able to hold the world hostage over what remains of the global oil supplies. Expect major conflict involving America, Israel and Iran as well as the saudi's when Iran attacks there oil infrastructure in retaliation for an Israeli/American + british supported attack on Iran to destroy natanz. Oil will rocket and so will gold, the conflict could be short or a prelude wo a deeper more destabilized world. Thats my guess anyways:( Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 30, 2008 Share Posted June 30, 2008 (edited) Much sooner than that, this tanding President (Bush) will bomb Iran before he leaves office 100% guaranteed.He has said he will not allow Iran to have nuclear weapons and his Israeli friends have been pushing him and pushing him, he will do it, because when he has gone, he will say i protected the world from a nuclear Iran, not only that, he will not allow a shia Islamic fundamentalist state to hold nuclear weapons and be able to hold the world hostage over what remains of the global oil supplies. Expect major conflict involving America, Israel and Iran as well as the saudi's when Iran attacks there oil infrastructure in retaliation for an Israeli/American + british supported attack on Iran to destroy natanz. Oil will rocket and so will gold, the conflict could be short or a prelude wo a deeper more destabilized world. Thats my guess anyways:( I think you are right Bush and Cheney get their kicks from war and little stuff just don't give em the hard ons they need these days. No they want big war and Iran is the ticket. Whats worrying is that most predictions of WWIII seem to centre around a US confrontation in / with Iran Edited June 30, 2008 by Kurt Barlow Quote Link to comment Share on other sites More sharing options...
Frank8 Posted June 30, 2008 Share Posted June 30, 2008 "several nations will be annihilated" Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 30, 2008 Share Posted June 30, 2008 The head of Gazprom said $250. The way the world got out of the last depression was with a world war, that kicked off a huge boom. However this time too many countries have nukes. The US has enough to destroy the entire planet at least 10 times over, quite why you need that many is beyond me. Maybe 2 times would be enough and you'd have plenty of built in redundancy. Plus you have the UK, China, India, Pakistan, France, Israel and christ knows who else. The Russians have apparently lost a couple of suitcase nuclear bombs!!!!!! Quote Link to comment Share on other sites More sharing options...
debt2let Posted June 30, 2008 Share Posted June 30, 2008 It would be interesting to know if how long it would take America's 'War on anyone with oil' to grind to a halt if the Saudis shut up shop. With their warmongering becoming more and more unpopular, if a scenario were to arise where their existing sources of oil started holding back in a protest to their wars, i wonder how long they could fly the planes and move the tanks before using up their reserves. Quote Link to comment Share on other sites More sharing options...
smiffy1967 Posted June 30, 2008 Share Posted June 30, 2008 In Fact, i would put good money on an Iran attack before september Quote Link to comment Share on other sites More sharing options...
Sheer Heart Attack Posted June 30, 2008 Share Posted June 30, 2008 Much sooner than that, this tanding President (Bush) will bomb Iran before he leaves office 100% guaranteed.He has said he will not allow Iran to have nuclear weapons and his Israeli friends have been pushing him and pushing him, he will do it, because when he has gone, he will say i protected the world from a nuclear Iran, not only that, he will not allow a shia Islamic fundamentalist state to hold nuclear weapons and be able to hold the world hostage over what remains of the global oil supplies. Expect major conflict involving America, Israel and Iran as well as the saudi's when Iran attacks there oil infrastructure in retaliation for an Israeli/American + british supported attack on Iran to destroy natanz. Oil will rocket and so will gold, the conflict could be short or a prelude wo a deeper more destabilized world. Thats my guess anyways:( I'm familiar with a lot of the stuff you read, smiffy, and I fear you're right. I think Israel knows America's at the start of a permanent decline and it wants America to start a war against Iran before the combined mights and interests of Russia and China are enough to stop the to-be impoverished sole superpower in its tracks. Perhaps it is a forecast of this which will bring the predicted "economic meltdown" (combined with general state of the world economy) Quote Link to comment Share on other sites More sharing options...
blackhole Posted June 30, 2008 Share Posted June 30, 2008 I know Bush and co arent the brightest sparks, but surely the US cant afford another war without totally destroying their economy in the process? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 30, 2008 Share Posted June 30, 2008 I think it depends on whether Bush and Co feel they can have another success like Iraq where they won the war in a couple of weeks. If they could do that they would then secure cheap oil for the US. Quote Link to comment Share on other sites More sharing options...
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