chuckwoww Posted January 7, 2008 Report Share Posted January 7, 2008 Not said by a rich person at all in fact a union official. The rich fall much harder in recessions don't worry. Got a link? Actually I think a few people have said it but I'm not sure how it started. 'Recession is just a state of mind' is a bit like saying "Don't think about it so much and it will be fine." (Or farang think too mut). There's some truth in that but in a real recession everybody is waiting for some miracle cure and everything looks gloomy. Things do turn around eventually but it's more a question of economic cycles than positive thinking IMO. In other words recession is pretty damn real if you're a victim of it. Link to comment Share on other sites More sharing options...
bust Posted January 7, 2008 Author Report Share Posted January 7, 2008 I'm not an Economics graduate, nor do I have a degree in Banking or Finance. I'm not in retail, either, but you don't have to be a rocket scientist to figure out that a very high percentage people are in a cold sweat over the current state of the world economy. Just look in the papers. The media loves this kind of garbage, and they continue to blare out more and more stories on how bad everything is. We've got a crisis in the middle east, retail sales are in a tailspin, oil supplies are under threat, sub prime mortgage crisis, the rising cost of energy, the exodus of wealth from west to east the decline of the american empire and it goes on and on. Link to comment Share on other sites More sharing options...
chuckwoww Posted January 7, 2008 Report Share Posted January 7, 2008 I'm not an economist either but I've followed the stock market long enough to know that it runs on greed and fear. In good times people can't get enough (boom)....in bad times they are scared to open their wallets (recession). Some people will do OK even in bad times and the media thrives on exageration. But the cycles are real. So are the dips on the graph (which does seem to be upwards historically). Sure you can't touch graphs and numbers but calling them states of mind is a bit like telling a beggar on Sukhumvit he can turn his life around if he just had the right attitude. Link to comment Share on other sites More sharing options...
bust Posted January 7, 2008 Author Report Share Posted January 7, 2008 GOD DAMN YOU RUPERT MURDOCH Link to comment Share on other sites More sharing options...
chuckwoww Posted January 7, 2008 Report Share Posted January 7, 2008 Now there's somebody who always comes out on top. Rain or shine Rupert does fine. Course he may have to lay a few people off if advertizing revenues decline. Link to comment Share on other sites More sharing options...
Hugh_Hoy Posted January 7, 2008 Report Share Posted January 7, 2008 I thought the price was based on Speculation, and nothing more...? Partly correct, according to OPEC: " U.S. crude hit a record of $100.09 a barrel on Thursday. High energy costs have caused concern among some members of OPEC about the potential impact on the global economy. But ministers say there is little they can do to tame the price, which is driven by political tension and speculators and not supply and demand fundamentals." HH Link to comment Share on other sites More sharing options...
Old Hippie Posted January 7, 2008 Report Share Posted January 7, 2008 That is pretty much what I have always read and heard. Example, the demand did not jump 5-10% to drive the cost up, then fall off the next few days 5% and so forth. I mean the deal with Iran having nukes supposedly pushed the price up, yet demand didn't suddenly go up...there seems to be a lot of fear involved driving the price. Would love to know who these guys are that speculate and set the price...sort of pointless in a way, I mean no matter the excuse, if we need oil, we need oil, and will continue to pay until we have no money. Maybe some of the financial guys can weigh in...where are Gadfly and JJ...? Link to comment Share on other sites More sharing options...
Hugh_Hoy Posted January 7, 2008 Report Share Posted January 7, 2008 I think that whoever "weighs in", should be ready to ditch the "supply and demand" aspect and concentrated on "speculation" and "manipulation"...with some credence given to world politics/economics. I just noted something on the "ticker" than a barrel dropped on speculation of a recessession in the U.S. Speculation...NOT supply and demand. (I can recall looking out over the LA harbor during one of the periods of time when supplies of oil were "tight". 1973? Took tankers days to get inside the breakwater and get to a berth to unload. You'd see a dozen ships at anchor out there. No shortage, but high price. If the major consumer countries put a price lid on imported oil, the price would go down. A consumers cartel is needed to offset the artificially high prices. HH Link to comment Share on other sites More sharing options...
chuckwoww Posted January 7, 2008 Report Share Posted January 7, 2008 WASHINGTON (Reuters) - Five Iranian Revolutionary Guard boats harassed and provoked three U.S. Navy ships in the Strait of Hormuz, a major oil shipping route off the Iranian coast, over the weekend, CNN reported on Monday. Citing unidentified U.S. officials, CNN said the Iranian vessels came within 200 yards (meters) of the U.S. ships in international waters in the strait on Saturday, and U.S. sailors came close to opening fire. Oil prices rose about 30 cents to over $98 a barrel after the CNN report, with traders citing increased risk of disruptions to oil shipments along the key shipping route. http://news.yahoo.com/s/nm/20080107/ts_nm/usa_iran_ship_dc Link to comment Share on other sites More sharing options...
cavanami Posted January 7, 2008 Report Share Posted January 7, 2008 WASHINGTON (Reuters) - Five Iranian Revolutionary Guard boats harassed and provoked three U.S. Navy ships in the Strait of Hormuz, a major oil shipping route off the Iranian coast, over the weekend, CNN reported on Monday. Citing unidentified U.S. officials, CNN said the Iranian vessels came within 200 yards (meters) of the U.S. ships in international waters in the strait on Saturday, and U.S. sailors came close to opening fire. Oil prices rose about 30 cents to over $98 a barrel after the CNN report, with traders citing increased risk of disruptions to oil shipments along the key shipping route. http://news.yahoo.com/s/nm/20080107/ts_nm/usa_iran_ship_dc This has been going on for many years now. I may (or may not, not admitting to nothing to protect the guilty) was on a US Navy ship four years ago that DID shoot up a vessel in the same area. I was on deck at the time and saw the entire incident. Our ship blew the horns, flashed lights, tried to hail the ship over loud speakers, but it kept on coming, aiming directly for our ship...we opened fired! Good ol' boy on the big gun ripped the vessel right down the middle! ...and I have pictures of the entire event...or maybe I don't have pictures. Navy personnel (CIA) came aboard and took our statements. Stupid ME idiots, always trying to make trouble Link to comment Share on other sites More sharing options...
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