Oil and Collapse of the Dollar???
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From: Cypress
Oil and Collapse of the Dollar???
I was talking with a friend last night and we were talking about the coming collapse of the dollar and how it's going to affect oil prices. So do you think if the dollar collapses oil will then be traded in Euros which will sky rocket the price of oil and gas for us?
It's a real possibility and a scary thought of $5-10 gas. We all know Obama said he wanted gas to be in the $5/gal range but wouldn't want it to jump so quickly so I guess I can put my hat on .
Besides that thought though, with the economy falling quicker than Bill Clinton's pants, does anyone else see this happening or even acknowledge it as a real possibility? It would completely cripple our country, raise the cost of transportation, gasoline, and energy.
And yes, gold is the commodity to invest in now. I keep having the bank call me and offer a short term CD to invest in and I tell them no thanks, going for Gooooooooooooooooooooooooooooooooooooold BABBBBY!
It's a real possibility and a scary thought of $5-10 gas. We all know Obama said he wanted gas to be in the $5/gal range but wouldn't want it to jump so quickly so I guess I can put my hat on .
Besides that thought though, with the economy falling quicker than Bill Clinton's pants, does anyone else see this happening or even acknowledge it as a real possibility? It would completely cripple our country, raise the cost of transportation, gasoline, and energy.
And yes, gold is the commodity to invest in now. I keep having the bank call me and offer a short term CD to invest in and I tell them no thanks, going for Gooooooooooooooooooooooooooooooooooooold BABBBBY!
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Gold may be the hot investment but you don't buy when its high.
My take on the economy is this. It is bad. But not as bad as its gonna get. I think people know its bad but I think they are fooling themselves. I really don't think the seriousness of job loss has really hit yet. Later this summer it will tell the tale.
Credit card companies are starting to fold. THAT is pretty serious. Many people LIVE on cards. Groceries, home bills, etc. THAT can really put a stop to the economy.
As for the gas prices...it totally amazes me the people that hot rod around town sqauling tires. Not young people but people that really know better. I work on a state highway that has a straight stretch of road. After people clear the corner they gun the **** out of their cars and trucks up that straight stretch some reaching a good 70 miles an hour. Do they not care what gas and tires cost these days???????
My take on the economy is this. It is bad. But not as bad as its gonna get. I think people know its bad but I think they are fooling themselves. I really don't think the seriousness of job loss has really hit yet. Later this summer it will tell the tale.
Credit card companies are starting to fold. THAT is pretty serious. Many people LIVE on cards. Groceries, home bills, etc. THAT can really put a stop to the economy.
As for the gas prices...it totally amazes me the people that hot rod around town sqauling tires. Not young people but people that really know better. I work on a state highway that has a straight stretch of road. After people clear the corner they gun the **** out of their cars and trucks up that straight stretch some reaching a good 70 miles an hour. Do they not care what gas and tires cost these days???????
Last edited by fordmaster; Jun 3, 2009 at 09:28 AM.
Thread Starter
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Member
Joined: May 2008
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From: Cypress
Gold may be the hot investment but you don't buy when its high.
My take on the economy is this. It is bad. But not as bad as its gonna get. I think people know its bad but I think they are fooling themselves. I really don't think the seriousness of job loss has really hit yet. Later this summer it will tell the tale.
Credit card companies are starting to fold. THAT is pretty serious. Many people LIVE on cards. Groceries, home bills, etc. THAT can really put a stop to the economy.
As for the gas prices...it totally amazes me the people that hot rod around town sqauling tires. Not young people but people that really know better. I work on a state highway that has a straight stretch of road. After people clear the corner they gun the **** out of their cars and trucks up that straight stretch some reaching a good 70 miles an hour. Do they not care what gas and tires cost these days???????
My take on the economy is this. It is bad. But not as bad as its gonna get. I think people know its bad but I think they are fooling themselves. I really don't think the seriousness of job loss has really hit yet. Later this summer it will tell the tale.
Credit card companies are starting to fold. THAT is pretty serious. Many people LIVE on cards. Groceries, home bills, etc. THAT can really put a stop to the economy.
As for the gas prices...it totally amazes me the people that hot rod around town sqauling tires. Not young people but people that really know better. I work on a state highway that has a straight stretch of road. After people clear the corner they gun the **** out of their cars and trucks up that straight stretch some reaching a good 70 miles an hour. Do they not care what gas and tires cost these days???????
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Joined: Mar 1998
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From: Blue Ridge Mountains, GA
The weakening of the dollar will cause a rise in oil prices, no doubt. The central banks are planning to ditch the dollar sometime in the future as the worlds' reserve currency. I personally believe that Bernanke and his inflationary expections are fairy tales. The only way that they will be able to justify the world changing from the dollar would be a combination of unsustainable US debt and future inflation. It's not a matter of if, but when.
Couple all of this with the desire of some of our elected officials to tax gasoline at $2-$2.50/gallon(Obama has even said now is not the time, but in the future when the economy improves), and you can see what the future holds for the price of gasoline.
Couple all of this with the desire of some of our elected officials to tax gasoline at $2-$2.50/gallon(Obama has even said now is not the time, but in the future when the economy improves), and you can see what the future holds for the price of gasoline.
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From: Bakersfield, CA, USA
Crude oil prices have been climbing steadily for months.
It's not because U.S. and worldwide demand have increased lately.
IMO, a big part of why crude prices are rising is concerns about rising interest rates and inflation. Also, there will be future tax increases on energy production. Basically, the oil users/gas producers are buying crude now before all their costs skyrocket.
In any event, gas prices are climbing and will continue to climb, even though demand is likely to slow. But since congress, the UN and the president feel that is good for the environment, well, tough noogies for us peons.
BTW, I am in total agreement that as bad as the economy is, it is going to get much worse. Which will be a great excuse for the government to impose even more taxes and control on industry, because 'we have to do something'.
It's not because U.S. and worldwide demand have increased lately.
IMO, a big part of why crude prices are rising is concerns about rising interest rates and inflation. Also, there will be future tax increases on energy production. Basically, the oil users/gas producers are buying crude now before all their costs skyrocket.
In any event, gas prices are climbing and will continue to climb, even though demand is likely to slow. But since congress, the UN and the president feel that is good for the environment, well, tough noogies for us peons.
BTW, I am in total agreement that as bad as the economy is, it is going to get much worse. Which will be a great excuse for the government to impose even more taxes and control on industry, because 'we have to do something'.
Thread Starter
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Member
Joined: May 2008
Posts: 32
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From: Cypress
Crude oil prices have been climbing steadily for months.
It's not because U.S. and worldwide demand have increased lately.
IMO, a big part of why crude prices are rising is concerns about rising interest rates and inflation. Also, there will be future tax increases on energy production. Basically, the oil users/gas producers are buying crude now before all their costs skyrocket.
In any event, gas prices are climbing and will continue to climb, even though demand is likely to slow. But since congress, the UN and the president feel that is good for the environment, well, tough noogies for us peons.
BTW, I am in total agreement that as bad as the economy is, it is going to get much worse. Which will be a great excuse for the government to impose even more taxes and control on industry, because 'we have to do something'.
It's not because U.S. and worldwide demand have increased lately.
IMO, a big part of why crude prices are rising is concerns about rising interest rates and inflation. Also, there will be future tax increases on energy production. Basically, the oil users/gas producers are buying crude now before all their costs skyrocket.
In any event, gas prices are climbing and will continue to climb, even though demand is likely to slow. But since congress, the UN and the president feel that is good for the environment, well, tough noogies for us peons.
BTW, I am in total agreement that as bad as the economy is, it is going to get much worse. Which will be a great excuse for the government to impose even more taxes and control on industry, because 'we have to do something'.
