We’re all doomed!
February 26th, 2009 at 8:11 am by David FarrarWell according to Sue Bradford.
You should have seen the faces in the audience at Backbenches last night, when Wallace Chapman asked the panel how bad they thought the current recession would be.
Sue answered that she thought it would be worse than the Great Depression of the 1930s, and further that it would last for the rest of her lifetime!
I guess the bright side is that a never ending great depression would be excellent for reducing carbon emissions.
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February 26th, 2009 at 8:27 am
“Sue answered that she thought it would be worse than the Great Depression of the 1930s, and further that it would last for the rest of her lifetime!”
Maybe her Doctor has diagnosed that her case of “rabid commie ballsack” syndrome is terminal and she only has months to live.
Vote:February 26th, 2009 at 8:28 am
I had no idea she was an economist and able to predict economic movements.
Perhaps Le Grande Fromage is right – Bradford may only have a year or two left to live.
Vote:February 26th, 2009 at 8:30 am
“…….rest of her lifetime!:”
One has to be very careful about the next comment one writes…
Na, it’s too easy.
And she wonders why she was not invited to the job fest tomorrow?
Vote:February 26th, 2009 at 8:30 am
Sue is planning on punching out?
Oh dear.
Vote:February 26th, 2009 at 8:30 am
How sad.
Vote:February 26th, 2009 at 8:31 am
Never mind.
Vote:February 26th, 2009 at 8:35 am
“We’re all doomed” said the silly sergeant women in the Sisterhood Army. At least Frazer in Dad’s Army was funny playing a drongo.
Vote:February 26th, 2009 at 8:45 am
It would seem that her Sue’s vision of global recession is about to achieve what she and her fellow watermelons were trying to achieve by carbon trading, regulation and increased taxes.
Vote:February 26th, 2009 at 8:45 am
It just makes me angrier that we are actually paying for this idiot to have an active role in fucking it up for the rest of us.
Vote:February 26th, 2009 at 8:48 am
Didn’t you all know Bradford is an economist? The Greens all know better ya know, bow down to them and their infinite wisdom.
Vote:February 26th, 2009 at 8:51 am
dad4justice – I thought she was a modern Major-General in the Sisterhood Army.
Clintheine – Micawber was also an economist, but unlike Sue Bradford was an eternal optimist.
Vote:February 26th, 2009 at 8:57 am
The Sisterhood Army usually puts a former Governor General in as Majoress- Generalass.
Vote:February 26th, 2009 at 8:58 am
And , how many of you lot are trained economists?
I am not but I read the opinions of economists. While Sue appears to be overly melodramatic it is possible this ‘depression’ lasts 20 years. Don’t believe me? Look at the US where there have been long periods of stagnation, or, Japan.
Vote:February 26th, 2009 at 9:00 am
Perhaps Bradford should cconsider the merits of banning hemlock for fear that one of her colleagues might consider that having a leadership contender promising doom and gloom and no way out is hardly going to improve their electoral prospects.
But then again for certain people gloom and doom represents heaven on earth.
Vote:February 26th, 2009 at 9:11 am
Is there some way we could tie Bradford to her contention that it will last for her lifetime? That is, if the recession ends in a year’s time, would she have to shuffle off this mortal coil?
[DPF: That's fast approaching the boundaries of acceptable dialogue]
Vote:February 26th, 2009 at 9:11 am
I would imagine that Sue delivered this line with a look of satisfaction on her face, I suspect that she can see the time when the people will come around to her way of thinking, the time when we all embrace the “joy” of socialism and take great pleasure at the demise of the corporate world.
Vote:February 26th, 2009 at 9:12 am
The Green Gargoyle is well placed to make this prediction given its former role as head of the Unemployed Workers Union.
Word has that this oxymoron will be re-established in light of the predictions for increased unemployment. Anticipate a call to armchairs and threats to work if its demands aren’t met.
Vote:February 26th, 2009 at 9:12 am
One thing I’ve noticed is that the Greens do tend to attract the apocalyptic types – you get a lot of “end of the world as we know it” type talk from Greenies.
I do think the current economic conditions could continue for another 12 months, with a very slow initial recovery beginning to form in the next 12 months after that. And that’s based on economic modelling looking back at the Great Depression and other big depressions since then (such as in the 1970s).
But the economic cycle is just that – a cycle. Good times will come again. And then bad times. And then good times. And then …
Vote:February 26th, 2009 at 9:20 am
Hi wreck – if we didn’t have China, India, Brasil, Russia and lots of other economies where there will be high growth as they shift from 3rd to 2nd to 1st world economies I would be tempted to agree.
Mind you US is pretty stuffed for a while – they just have too much debt, pay themselves too much etc
Vote:February 26th, 2009 at 9:21 am
Sushi
The Gargoyle can in fact predict movements; but they are bowel movements as distinct from economic movements. These can be predicted to occur within 30 secs of meeting face to face with the Gargoyle; and within 60 secs of hearing it on the radio or seeing it on television. Whereas seeing the name (that I cannot bring my self to type) in print doesn’t generally induce bowel movements, there there is a considerable body of anecdotal evidence (my own) to suggest that it can nevertheless induce severe discomfort including stomach cramps.
Vote:February 26th, 2009 at 9:27 am
PLEASE let this woman become the next Greens Co-Leader!
Imagine her at the debate! Glorious!
also, is this an admission that capitialism is here forever?? OR is it a prophecy that the world will move towards socialism, ensuring we are all poor and unhappy?
Vote:February 26th, 2009 at 9:32 am
A more realistic but far from panglosian analysis is here:
http://www.newgeography.com/content/00623-the-panic-2008-how-bad-is-it
and here, where Don Brash gets a mention:
http://www.freedompolitics.com/articles/housing_421___column.html/undead_crisis.html
Vote:February 26th, 2009 at 9:42 am
Oh FFS!
This! This right here!
This is why democracy is doomed. Sue Bradford thinks that the current economic woes will be the worst ever based on what? Based on what some other person says, that just happens to be what Sue Bradford wants to hear.
Everyone has biases, that is natural, but this dolt of a woman isnt even considering addressing hers! She doesnt want to.
Confirms the Greens, once again, are the party of feelings rather than intelligence.
Vote:February 26th, 2009 at 9:47 am
David, what a lovely bunch of hate you unleash.
What’s next? A startling revelation that the Jews happen to own all the banks?
[DPF: You think I shouldn't blog on the fact a contender for Greens co-leader has said the recession will turn into the worst depression ever, and last her lifetime? And you think the reason I shouldn't blog it, is because she then attracts criticism for it?
So in your world, the more stupid a statement, an MP makes, the less scrutiny it should be given?]
Vote:February 26th, 2009 at 9:55 am
Robert – you’re being a dickhead. DPF reported Bradford’s stupid comment. She said it, not him. In blogland, people like to react to stupid statements with harsh comments – if you don’t like it, don’t read it. Try mylittlepony.com instead.
Vote:The Jews are far too smart to own all the banks.
February 26th, 2009 at 9:58 am
No Robert, the US government owns all the banks.
Vote:February 26th, 2009 at 9:59 am
DPF – yes, you’re right and I thought so shortly after I posted it. I withdraw it.
Vote:February 26th, 2009 at 10:01 am
And perversly, DPF writes in a later post:
“The best argument for common sense comes from Russel Norman”
Those Greens eh!
[DPF: I know this is a concept you struggle with, as you see he world in black and white. But when the Greens say something I agree with, I praise them for it. When they say something I disagree with, I attack them for it.]
Vote:February 26th, 2009 at 10:06 am
Its racist to report lefties being dickheads John. Did you not get the memo?
Vote:February 26th, 2009 at 10:42 am
I’m with Dime – lets have this avowed Marxist (who’se goal is the destruction of the capitalist economy) lead the Greens so that NZers can see that they aren’t warm fuzzy tree huggers but hard left zealots
Vote:February 26th, 2009 at 10:56 am
Bradford can airbrush a new skin, but it still hides a rotten core.
Vote:February 26th, 2009 at 10:56 am
NEWSFLASH!: SUE BRADFORD CORRECT- recession could “be worse than the Great Depression of the 1930s”
Reality check people.
Vote:February 26th, 2009 at 11:03 am
“…….rest of her lifetime!:”
How pleasing then that it’s likely to be ended by 2011….
Vote:February 26th, 2009 at 11:09 am
a few day ago..on the lehrer newshour..they had a pointy-headed one talking in depth about various manifestations of what we are all facing..
..this guy obviously knew his subject..
..and at the end of the interview..
..he was asked when he thought we would see a return to very recent levels of prosperity..
..he started/paused before his answer..
..and this is what he said..
.”..i am nearly sixty years old..
..my father is ninety-five..
..i expect to live longer than my father..
..i will not see that ‘recovery’..
..in my lifetime..”
..(kinda ‘chilling’..eh..?..)
phil(whoar.co.nz)
Vote:February 26th, 2009 at 11:09 am
She’s not the only one -
http://www.youtube.com/watch?v=SbiXTidsoh8
And when Sue Bradford and Glenn Beck agree on something, you know that a) this is a major issue; and b) normal political divides are largely immaterial
Vote:February 26th, 2009 at 11:15 am
and gee..!..dpf..you really are the one to pontificate/sneer on this subject..eh..?
..having been ‘so on the money’..
..in passing on warnings about this shitstorm..
..you were given/gifted on a plate..
..to your readers..
..eh..?
phil(whoar.co.nz)
Vote:February 26th, 2009 at 11:17 am
I see you are on the doomed grass today phool. Must go boss is lurking.
Vote:February 26th, 2009 at 11:18 am
I thought you were unemployed too d4j
Vote:February 26th, 2009 at 11:34 am
‘boss’ is shorthand for ‘screw’..
phil(whoar.co.nz)
Vote:February 26th, 2009 at 11:36 am
[DPF: I know this is a concept you struggle with, as you see he world in black and white. But when the Greens say something I agree with, I praise them for it. When they say something I disagree with, I attack them for it.]
Of course you do David. That’s exactly what I was pointing out to your loyal followers who aren’t so able (expat et al excepted). I have much the same approach to National
Vote:You reckon Sue Bradford is wrong in her view about the severity of the recession? I reckon Bill English agrees (in his little blue heart) with Bradford. It shows on his face.
February 26th, 2009 at 11:37 am
We can’t all be on the tax payer teat to troll toad.
Whats your claim to a contribution phool. Oh wait you’re on our FUCKING DIME.
Your smear of d4j is noted and pointlessly protested to DPF.
Vote:February 26th, 2009 at 11:38 am
There is only one way the world will go into depression which is if a deflationary spiral is entered.
Vote:As long as that is avoided, otherwise all the imbalances (other than the fiscal deficit) will sort themselves out in the medium term.
February 26th, 2009 at 11:45 am
Sue Bradford suffers from hyperbole and a lack of historical knowledge. It’s possible that one deficiency brings on the other.
Vote:February 26th, 2009 at 11:46 am
Look, Bernard Hickey pointed out in an outstanding essay a couple of days ago, that NZ’s economic problems are actually not going to go away even if the world economy rebounds, if we do not change our behavior; our behavior as consumers, as borrowers, and in our expectations of what our government can do to “fix the economy” and provide “free” services and “provide for the least fortunate”. And, importantly, in our attitudes towards the business and entrepreneurial sector who are the basis of all wealth and growth and jobs.
What is more, the world economy is not going to rebound if Americans and Europeans also do not change in the same ways. Any rebound is going to come only from “small government” economies and the free working of the magic of entrepreneurship in those economies. George Soros’ old business partner Jim Rogers is frankly advising entrepreneurs and technicians to move to Asia, echoing “Atlas Shrugged”. The Obama administration plans for the US economy contain virtually nothing that holds out any hope for an entrepreneurship-driven recovery in the USA and what is more, precious few of the world’s major first world economies right now have people in charge who are anything other than mired in conceits that they can walk on economic water and bring economic salvation.
The idea that governments can borrow and spend the economy into recovery, defies all logic, rationality and morality. Otherwise, NZ would have been a thriving economy after 9 years of Muldoon instead of a basket case. It seems we are now not just in a post-moral era, we are in a post-rational one too.
Can NZ be brave once again, as it was in the 1980′s, and buck the trend worldwide, to irrational and immoral Muldoonism?
Vote:February 26th, 2009 at 11:47 am
More Glenn Beck, for those who are interested. Same programme, in four parts. It considers worst-case (but entirely plausible) scenarios. Parts one and two include input from Gerard Celente.
http://www.youtube.com/watch?v=i8wA8TovXAw&feature=related
http://www.youtube.com/watch?v=dS-xtErkCGM&feature=related
http://www.youtube.com/watch?v=LPgjpbHI5gI&feature=related
http://www.youtube.com/watch?v=k8fAbJs7QMI&feature=related
These scenarios make Sue Bradford’s prediction seem like the ending of a Disney film!
Vote:February 26th, 2009 at 11:59 am
Portia (119) Vote: 2 1 Says:
February 26th, 2009 at 11:09 am
She’s not the only one -
http://www.youtube.com/watch?v=SbiXTidsoh8
“And when Sue Bradford and Glenn Beck agree on something, you know that a) this is a major issue; and b) normal political divides are largely immaterial”
Absolutely, Portia. Although I cannot see that Sue Bradford has the economic nous to grasp the reasons why we are in for major depression and the role that big government and development-stifling socialism and environmentalism has in it.
Other names to check out on Youtube:
Peter Schiff
Gerald Celente
Karl Denninger
Steve Keen
Jim Rogers
Ron Paul
Max Steiner
Rick Santelli
I am hoping that the Internet, Blog, and Youtube age will enable a much greater spread of economically literate ideas and debate, and that voters might actually put some people who are intelligent and honest into office for a change, rather than politicians who have their eye on promising things that will get them elected irrespective of their ability to deliver, or even their self-knowledge regarding their ability to deliver.
I mean to say, had you heard what the Obamessiah promised just a few days ago? he is going to halve the federal deficit during his time in office…..??????????
I am feeling increasingly confirmed in my pre-election suspicions that Obama is a “Manchurian Candidate” and it is purely academic what are most of the policies he pursues and the promises he makes now that he is in office. He is most likely up to deeper and darker stuff.
Vote:February 26th, 2009 at 12:16 pm
Personally, I like Obama and I believe that he is well-meaning. But I fear that the Messiah syndrome will lead to his eventual demise. Too much is expected of him and when the general populace realise he’s a mere mortal after all, and can’t save them from the tough times ahead, they will “crucify” him (although hopefully, not literally).
I’m also prepared to accept that most of Obama’s team are also acting with the very best of intentions (there will always be political opportunists who will grab any money on offer for their own personal gain, but I don’t believe this is true of all of them). However, they are misguided and their efforts to “fix” the problem will only make it worse. Much worse.
The thing is, there is a need for a correction and it cannot, will not, be pain-free. And there is nothing that anyone can do to prevent that. What we can do is aid those who suffer most through the transitional phase. But we can’t stop them from suffering in the first place.
Vote:February 26th, 2009 at 12:25 pm
I hear various pundits making predictions about when the economic tide will turn positive again. Some say the end of this year, others are talking about 2 or 3 or 5 years. Who is to say which opinion is best?
People here seem to be reflexively slagging Sue Bradford off because they like it! I don’t see evidence of a lot of meaningful economic thought…
Vote:February 26th, 2009 at 12:25 pm
Interesting how the thread changes. Starts off simply mocking her and her prediction.
Then, when it’s pointed out that some right wing commentators have been predicting much the same thing, it turns to “well she might actually be right, but it will be for the wrong reasons because she is not an economist”.
Well, no she’s not, but it probably doesn’t occur to you guys that she might read what economists have been saying. And, of course, there is a diversity of opinion among economists on this issue – economics is not an exact science.
Vote:February 26th, 2009 at 12:37 pm
toad – kiwiblog discussion threads are all about hating and bitching about greenies and lefties and any other alternative mindsets we decide we don’t like. We’re not really interested in learning what the other side thinks or debating the issues of the day with you.
Try to keep up, dear…
Vote:February 26th, 2009 at 12:50 pm
Ratty
Vote:I agree that whatever your view Sue Bradford is entitled to hers and at least DPF allows the free discussion and expressions of views. She is also right that no one knows or can know the future of the world economy because that depends on peoples actions and reactions that have not yet happened.So her predicition has some validity and it is up to the reader if they judge her opinion as a wild guess or highly credible – usually based on past record whihc in her case is to be polite dubious!
February 26th, 2009 at 12:51 pm
Oh, and by the way, here’s Bill English on the topic:
Okay, Sue Bradford’s and Glenn Beck’s predictions, coming from vastly diverse political positions, may be at one end of English’s speculation, but they are consistent with it. As he says, this recession is different to others because it is asset-based. I hope Bradford and Beck are wrong about how different, but suspect and fear they may be right.
Vote:February 26th, 2009 at 12:54 pm
Philu really outdid himself today
Vote:February 26th, 2009 at 12:58 pm
So .. in short:
We are all fucked.
To quote (I think) Rod: We are only fucked if we want to be.
Vote:February 26th, 2009 at 1:02 pm
Agree. And thank goodness for this diversity. Without it we’d start seeing “depression denier” slurs being leveled at the glass-is-half-full economists.
Vote:February 26th, 2009 at 1:10 pm
Hmm, she must have been listening to the very same economists that confidently predicted that at around this time we would be paying US$200.00 per barrel for oil!
“The Sky is Falling, the Sky is Falling!”
Vote:February 26th, 2009 at 1:11 pm
Ah, I see frog has now posted on this as well.
Interestingly, it seems that Phil O’Reilly agreed that economically, it could be as bad as the Great Depression, but that fortunately we have a better social safety net this time.
You know, that Phil O’Reilly from Business New Zealand. And that social safety net that we read lots of Kiwiblog commenters saying they want to do away with!
Vote:February 26th, 2009 at 1:19 pm
The possibility that Bradfords right just reminds one of the old truth that even a broken clock is right twice a day…
Vote:February 26th, 2009 at 1:21 pm
Right of way is Way of Right said: …she must have been listening to the very same economists that confidently predicted that at around this time we would be paying US$200.00 per barrel for oil!
The reason those economists (and I’ll conceded there were some Green-oriented ones among them) were wrong is that they didn’t predict the international financial crisis and the impact it would have on demand for oil. It still doesn’t change the fact that oil supply is depleting, and the price will stay low for only as long as demand remains low unless we invest in less oil-dependent technologies.
Vote:February 26th, 2009 at 3:08 pm
Ben Bernanke, in congressional testimony yesterday, said:
“If actions taken by the Administration, the Congress, and the Federal Reserve are successful in restoring some measure of financial stability–and only if that is the case, in my view–there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery.”
There is a big if in there but the incentives are in the right direction.
Bernanke isn’t god, and unlike his predecessor, doesn’t think he is god, but he probably has access to better information than Sue Bradford about the state of the world economy.
Vote:February 26th, 2009 at 4:03 pm
# toad (777) Vote: Add rating 1 Subtract rating 2 Says:
February 26th, 2009 at 12:25 pm
“Interesting how the thread changes. Starts off simply mocking her and her prediction.
Then, when it’s pointed out that some right wing commentators have been predicting much the same thing, it turns to “well she might actually be right, but it will be for the wrong reasons because she is not an economist”.
Well, no she’s not, but it probably doesn’t occur to you guys that she might read what economists have been saying. And, of course, there is a diversity of opinion among economists on this issue – economics is not an exact science.”
Toad, I am not remotely prepared to believe that Sue Bradford has come to the conclusions she has by studying the sort of analysis that is to be found on the Ludwig Von Mises web site, or on George Reisman’s. I have some opinions about the completely different way that Sue Bradford will be reaching the same conclusion, but I won’t do a straw woman argument here. I do defy any Green politician or blogger to read and understand and say why they agree or why they disagree with, George Reisman’s series of essays entitled “Economic Recovery Requires Capital Accumulation, Not Stimulus Packages”.
George Bolwing, I recommend those to you, too. I would like to know if there are persuasive counterarguments. It sure makes sense to me and most of the people I correspond with, regardless of how intellectual they are, that we all need to work, save, pay off debt, and accumulate capital; and that governments playing tooth fairy are no substitute for that. Heck, anyone who has drawn anything out of the experience of the Muldoon years, would know that.
It will be faint comfort in a few years time, to know that Bernancke and Geithner and Co were wrong, and their counterparts in Britain and Europe were wrong, and people like George Reisman and most of our grandparents were right after all, after we have turned the entire Western world into Zimbabwe times one thousand, won’t it?
Vote:February 26th, 2009 at 4:12 pm
GeorgeBolwing:
“……Bernanke isn’t god, and unlike his predecessor, doesn’t think he is god, but he probably has access to better information than Sue Bradford about the state of the world economy…..”
Truth be told, he may have access to information about the obliging Chinese, who live cheap and rough and work hard and save money, being prepared to lend the borrow and splurge Americans a trillion or so. If so, and 2010 turns into “a year of recovery”, that recovery will be brief and the process will replay, only worse, a bit further down the track.
China doesn’t need to beat the USA in an arms race. They are going to do it by ancient moral wisdom that the post-Christian West has abandoned. Work hard, live hard and cheap, save money, and lend it to the people who are buying your products. If they don’t wake up and their system of politics keeps selling them down the river, you will end up owning their arses anyway without having to fire a shot.
Vote:February 26th, 2009 at 5:20 pm
Sue Bradford is quite right.
This recession is in fact terminal for the World.
Because……………………?
So when the World was ravaged at the end of ’45, and there were displaced folks all over the place.
Japan was missing two cities, and the PI were full of dead combatants. It would be easy to have given up any idea of a return to normal.
Koreans were pooing in the fields as late as the ’50s, The ‘Night Soil’ activity still happens in many parts of the world.
Korea is quite a powerhouse right now.
So confidence is gone in the Banking System.
There are parcels of papers containing toxic debt instruments.
Here’s an idea. Get the UN to make these pieces of paper illegal, and all the other over complicated SIV’s
Tear them up, and start again. It is only wooden money anyway!!
Vote:February 26th, 2009 at 5:28 pm
Philbest: “Toad, I am not remotely prepared to believe that Sue Bradford has come to the conclusions she has by studying the sort of analysis that is to be found on the Ludwig Von Mises web site, or on George Reisman’s.”
Holy sh*t, batman! Is that Phil acknowledging that some people might not be interested in the websites of right wing think tanks and the on-line ravings of marginal political theorists?
[FYI, I hope all of the finance spokesmen of the major parties are widely read and ARE current with what the radical economic theorists are saying, if only because it's healthy to read widely even if all it does is further distills your own views!]
Vote:February 26th, 2009 at 8:58 pm
look, the day we start taking sue bradford’s reading material and understanding of same seriously is the day we all start wearing our undies on our heads. it’s just another Green PR opportunity to paint her as moving somewhere towards what normal folk think.
Vote:February 26th, 2009 at 9:02 pm
Bradford’s a loser and a defeatist. she’s a threat to our way of life
she would blanket our nation in a cloud of sorrow.
I notice the camera’s are allowed to capture her chest area now.
she was repugnant when her tits were big as well.
Vote:February 26th, 2009 at 10:00 pm
“..Although I cannot see that Sue Bradford has the economic nous to grasp the reasons why we are in for major depression and the role that big government and development-stifling socialism and environmentalism has in it…”
ffs best..she has a masters degree..is highly intelligent..
..and is one of the most liked/respected mp’s in the parliament..by other mp’s of all ideological stripes..
..you really do just pluck this stuff out of yr lowest orifice..
..eh..?..
..you just roll out all those outpourings from those american nutbars.
..like a stream of projectile vomit..
..a one-eyed/ranting/rightwing ideologue..such as yourself..who only reads his ‘own’..
..pedalling furiously trying to deny the whole rightwing gig is over/done ‘n dusted..
..you..an intellectual mite..questioning whether bradford has the intellectual nous to be able to get a good grasp on what is going down..?
..priceless..!
brain to brain.. sonny-boy..
..she’d wipe the floor with you…
phil(whoar.co.nz)
Vote:February 26th, 2009 at 10:03 pm
“ffs best..she has a masters degree..is highly intelligent”
Bradford has no education. Certainly not a masters.
otherwise you had a very entertaining post.
Vote:February 26th, 2009 at 10:15 pm
she has a masters degree..and post-grad study..(media..i think..)
this is an irrefutable fact..
phil(whoar.co.nz)
Vote:February 26th, 2009 at 10:19 pm
Historically speaking, the Japanese yen has proved to be a safe haven against global turmoil. Right now, however, Japan’s economy is among the worst hit of all the global powers. It is ill prepared to weather the global storm and it’s falling like a rock.
That’s why, this time around, as Japan’s economy falls away, there’s a very good chance the yen could drop as well.
Obviously, this would be very bad news for the huge numbers of speculators and institutions that have literally bet their existence on yen-based hedging strategies. But while a freefall in the yen would be a surprise to those institutional players, it would be about par for the course in my book, given the current state of the ongoing global financial crisis…
Vote:February 26th, 2009 at 10:25 pm
The oil price is behaving in counter-intuitive ways now and in the past 2-3 years. Demand hasn’t significantly fallen due to the GFC. The global vehicle fleet is still in similar numbers to what it was several years ago. Similarly, when it cycled into the recent highs of a year or two ago the supply/demand/security-of-supply equation hadn’t significantly changed either. Therefore why did oil rise from $30-150 bbl in such a short time and then drop back to $40 in such a short time???????
There is something going on in that market that is inexplicable using traditional equations. I had thought the rise was due to the property speculators entering the commodities markets after exiting the properties market just before the full horror of sub-prime hit the reef-fish, as smart money is wont to do. However, if that was the case, then why did they suddenly exit? The drop coincided with the beginning of the US election campaign but if that was manipulation to avoid scaring the horses, why hasn’t it risen again?
If I feared anything which I don’t, I would fear most the unpredictable. The oil market out of all commodities has a leveraged effect on global economics – it affects not just transport but all commerce and importantly food production through its application in harvesting and fertilisation. It’s the life-blood of the global economy. Something is operating on it that doesn’t respond to traditional equations. That’s quite obvious.
The less obvious question is, what exactly are those forces. Hint: it’s sure as shit not peak oil.
Vote:February 26th, 2009 at 10:32 pm
“she has a masters degree..and post-grad study”
Right ho, I’ll check the Green site. Otherwise journalism is seriously suffering.
Vote:February 26th, 2009 at 10:40 pm
“Something is operating on it that doesn’t respond to traditional equations. That’s quite obvious.
The less obvious question is, what exactly are those forces. Hint: it’s sure as shit not peak oil.”
Agree with you whole heartedly, but you need to watch your direction before you’re accused of inciting tin foil hats.
I though am not concerned by such accusations. As kennedy stated just before his assassanation, dark forces are behind the scenes. The same forces that punished Sadam Hussein because he changed to the Euro from the $US. He was being tolerated up to that point.
Hint: If you know who controls US banks and who Dick Cheney speaks very politely to against his nature, you will know who those forces primarily belong to.
Vote:February 26th, 2009 at 11:10 pm
Oil prices are subject to speculator intervention.
Like the OPEC spokesman said the price per barrel will be $200US for a long time to come and even higher.
Comical Ali is alive and well.
The funniest thing is the rush to Gold.
You can’t get hold of the physical stuff, so you get a promisory note.
Which is worth how much?
Anyway, Gold. Let u say you take delivery.
Heavy, can’t drink it!
Can’t eat it!
Can’t really wear it.
Franlky it is fucking useless.
Will stick to diamonds.
All the same as above, but easier to carry!
Vote:February 26th, 2009 at 11:12 pm
Saddam was the main man, and his sons were just ace!!
Made Cullen look like an angel
Vote:February 26th, 2009 at 11:16 pm
Cullens a rich prick and a damned hypocrite
Vote:February 26th, 2009 at 11:19 pm
Yes wiki, I too don’t give a shit about accusations from people who think I’m seeing things that aren’t there.
Vote:February 26th, 2009 at 11:23 pm
Now that Jeanette is on the way out does Sue start wearing the hat of the wise old sage?
Vote:February 26th, 2009 at 11:24 pm
Depends on your budget I suppose. At $1000 an ounce you need a fair bit of money before you get more than you can carry. Gold would have been a great investment a year ago but I wouldnt go anywhere near it now.
Vote:February 27th, 2009 at 12:15 am
It hasn’t even started yet Bullitt. Gold will go to $10,000 an ounce. That’s why silver is a better investment, it has a better multiplier.
Vote:February 27th, 2009 at 9:58 pm
Sue Bradford is way out of her depths. She shoots from the hip like her anti smacking law, which isn’t working. If she is right, she doesn’t have a clue as to why. Robert Kiyosaki talked about just this recession in his book Prophesy. It is unfortunate but I met an elderly lady who had all their retirement in Bridgcorp. Lost an awful lot of money. But she has a smile on her face and her husband is still working… they keep going like the rest of us have to. All Sue Bradford is doing is being a complete ass.
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