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Rogers is a long-term investor. Over the long term, why couldn't oil hit $100, or even $200? I read recently that Dr. Taleb is betting that in the next three years or so that oil will hit either $10 or $300. Either of those is extremely unlikely, which is why he is making that bet.

How much do the top 5% earn? If it is over 50%, then of course it is fair that they pay over 50% of total taxes (federal income, state, Social, Medicare, other). How much DO the top 5% earn and pay? Does anyone have some reputable figures (census, Statistical Abstract of the US)?

Imo, NG should be bought on strength and sold on weakness. I consider today weak (strong open, weak close). I would be very careful about buying on limit unless it is much lower (more like 5.50), as it could easily get back down there in a week or two. No positions on NG. Good luck. :-)

:-)

Too busy to address flat for now. Will get to it later, if I have the time. In short, a flat tax is a better idea than a consumption tax. Not that I think either of them is better than what we have now, or that the current system is perfectly fine as is.

If it's a "scam," who is doing it, and what exactly is the scam?

REASON FOUR: I didn't even get to the anti-progressive nature of the tax, but I'm tired of writing, so someone else do it.

REASON THREE: Creative individuals would find exceptions to the rule that would lead to decreased revenue (OK if there is no deficit and no out of control spending, but that's all we've had since 2000). The resulting complications would reduce any possible positive effect of the so-called...

REASON TWO: The tax rate would be almost certainly much higher than we're used to, and therefore there would be a greater temptation to create black markets. Rignt now, the cigarette tax in certain states is extremely high, and as a result you have, guess what, a black market for cigarettes...

REASON ONE: A consumption based tax would probably not simplify the tax code in the long run, because then every industry would have its own lobbyists demanding exceptions to the rule. We have that situation now in the states; certain products get taxed when you buy them, but other products...

From Aug 1 NYT: " So many superrich Americans evade taxes using offshore accounts that law enforcement cannot control the growing misconduct, according to a Senate report that provides the most detailed look ever at high-level tax schemes. Senator Carl Levin discussed tax abuses at a...

You're just kidding, right?

Fed chief Bernanke actually has produced some scholarship on the Great Depression from his days as an academic. A speech briefly touching on some of his ideas can be found here: http://www.federalreserve.gov/boarddocs/speeches/2004/200403022/

With NG still with reasonably plentiful supply, it is better to be nimble and cash in a good profit then to risk watching it go away in a gap down. Good luck with the short.:-) I'm watching NG, and I'd short on a gap down. If I do short, I'll watch it even more closely.

Thanks. I am done with the spread for this year because of that very fact (plus, rolling is a pain with IB, since you have to roll every month). I took off the spread last week when NG was around 7. Who'd have guessed that it would pop up to over 8 without a bona-fide hurricane threat...

If YOU had read my post carefully you'd know that I was not even addressing it in response to you or to anyone here. I did not quote anybody here, because no one said that here. If someone had, I'd quote them first. Really, what is your problem? I HAVE read elsewhere about people blaming...

I am a moderate. I just have little patience for warmed over conservative rhetoric. Do you have anything of substance to offer here, or, like your "contribution" to the minimum wage debate, all you can deliver is an insult?

The Great Depression was a WORLDWIDE depression caused by a multiplicity of factors. The Federal Reserve deserves some blame, for sure, but there was a lot that it could not do. When I read fearmongers predicting a new "Great Depression" because of a few similarities between 1929 and now...

Several times this year I have bought NG and sold crude as a spread, and it has been my most successful strategy this year. But when I did the ratio was more like 12-1 and 13-1. I would not put it on for much less than that. Very rarely has the ratio been over 10-1, and when it has, it...