KeithL
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Posts: 10,273
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Post by KeithL on Sept 26, 2022 13:02:32 GMT -5
You really don't need to worry about oil. It may be harder to get out, or somewhere we'd rather not dig, but there's a LOT of oil around. Basically, every time someone looks for oil, the seem to find more. Check out things like this: en.wikipedia.org/wiki/Bakken_FormationAnd that's just one (huge) deposit here in the US. The real problem is the environmental impact of extracting, transporting, and burning all that oil. It is global, but only because many industrialized countries made the same lockdown and massive govt. spending decisions. Just wait till we have depleted the Strategic Oil Reserve or stop pulling from it. Ya ain't seen nothin' yet folks. Like oil or hate oil, its the lifeblood of human civilization right now. Its not just for fueling our daily work commutes. |
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KeithL
Administrator
Posts: 10,273
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Post by KeithL on Sept 26, 2022 13:09:11 GMT -5
I didn't say they were at the same time...  (I consider the break point between "child" and "adult" the day I got a driver's license - so I could go somewhere without my parents taking me.) The 29 cent gas would have been in the early 1970's. I remember my parents being annoyed that we were paying 32 cents on Long Island but it was 28-29 cents in New Jersey... I also recall reading an oil company report stating that, since they were being required to reconstruct the landscape after strip mining shale oil, "it wouldn't make economic sense unless gas hit 50 cents a gallon". (Of course, back then, a low priced family car cost about $2500 ) I don't remember the exact time when we bought the TV. I know the 25" was the biggest Trinitron at the time (and I believe a good part of that was for a service contract). And, of course, back then Trinitrons really did deliver a better picture. When I was a child gas cost 29 cents a gallon ... When I was a child we purchased a Sony 25" TV - for almost $2000 ….
*** There’s a flag on the field, the play is being reviewed in New York *** (NEW YORK!!!) I was once buying gas at 29¢ and the first TV I actually paid for myself was a Sony 26” Trinitron (thank you Schools Credit Union for my first loan). In my mind those milestones are about 10 years apart — 29¢ gas about 1969-70, 26” Sony about 1979-80. Granted you are likely younger than I, but even if you just became a child in time for 29¢ gas, would you still be one 10 years later? (I’m not actually sure what ‘childhood’ is defined as, but looking it up might ruin my rant). I think in the second instance you would at least need to be a ‘young adult’, ‘teenager’, possibly a ‘guy’ or ‘dude’ … though in those days maybe just ‘hey man’. In any case, the call has been upheld as “illegal child downfield”. 🙆♂️… back to your regularly scheduled topic |
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Post by audiosyndrome on Sept 26, 2022 14:32:59 GMT -5
Like I said above, real easy to place the blame here. Pipeline cancelled day one and straight downhill from then on.
Russ
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Post by leonski on Sept 26, 2022 16:44:32 GMT -5
I do wonder what the honest reason for these price increases are. A lot of the Emo gear is made in China, and all of those products have gone up in cost. Is it just their manufacture in China raising cost, is it shipping cost, is it just US labor cost going up? We mostly blame politicians for inflation (for good reason sometimes), but we don’t look at the world wide reasons these price inflations are happening. It could be specific components, freight, etc. But it comes down to supply and demand. We know demand has been strong, and supply has suffered from the shutdowns at the start of Covid. The world - especially China - has taken time to ramp back up. And note that inflation in Europe is higher than in the US. Pretty hard to blame any politician for it ... lacking actual cause/effect. Marci.... Check out M1, the 'money supply' and correlate with inflation bursts. Seems to matter. NOTE: The method of calculation changed a year or so ago which resulted in a big 'bump' in the number but NOT in-step with the amount added. IOW? Printed Press accounted for difference. I suspect inflation is part of the world-wide domino effect. |
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Post by marcl on Sept 26, 2022 17:40:51 GMT -5
It could be specific components, freight, etc. But it comes down to supply and demand. We know demand has been strong, and supply has suffered from the shutdowns at the start of Covid. The world - especially China - has taken time to ramp back up. And note that inflation in Europe is higher than in the US. Pretty hard to blame any politician for it ... lacking actual cause/effect. Marci.... Check out M1, the 'money supply' and correlate with inflation bursts. Seems to matter. NOTE: The method of calculation changed a year or so ago which resulted in a big 'bump' in the number but NOT in-step with the amount added. IOW? Printed Press accounted for difference. I suspect inflation is part of the world-wide domino effect. Yes money supply ... as I said, the die was cast more than two years ago with interest rates that were WAY too low for too long. None of this stuff happens overnight. It lags and takes time to fix. |
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Post by leonski on Sept 26, 2022 18:34:08 GMT -5
I suspect that Deep Throat had it right.
Follow The Money.........
Meanwhile? Any savings is going in the tank. And noplace to HIDE it which won't take a beating as wealth is transferred.....somewhere 'else'....
Spot Silver? Still <20$ per troy oz.......so precious metals may not help......
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Post by leonski on Sept 26, 2022 19:54:52 GMT -5
fred.stlouisfed.org/series/M1Accounting changed in May of 2020. But the additional item(s) added to NOT account for the huge increase, the rest of which I'd ascribe to the printing press. Do the math......I think I'm right.....
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It's a global problemIt is global, but only because many industrialized countries made the same lockdown and massive govt. spending decisions. 
