Bernanke put the oil speculation nonsense to rest today

[jlancaster]

Quote from ChkitOut:


And gas, of course, is a necessity. People need to drive to work. So it's obviously a bad development to see gas prices rise so much.

IMHO People in America drive too much. If we took military spending and put it into fixing public transit in every major city
a) It would create jobs that are by nature resistant to outsourcing
b) decrease our reliance on oil.

The tough part is shifting people's opinion of public transit.

 

[MKTrader]

Quote from jlancaster:

IMHO People in America drive too much. If we took military spending and put it into fixing public transit in every major city
a) It would create jobs that are by nature resistant to outsourcing
b) decrease our reliance on oil.

The tough part is shifting people's opinion of public transit.

What is "too much"? The geography of the U.S. makes mass public transit extremely difficult. If things get bad enough, we will adjust other ways--mass telecommuting for example.

 

[ElCubano]

Tao owns you kid...let it go.

 

[rew]

Quote from olias:

exactly. They can't even acknowledge that maybe...just maybe...it has anything to do with growing demand from emerging economies...

what a bunch of clowns

Me, I find it amusing to find all the speculator hating going on here in ET. Whatever it is that you're trading (stocks, bonds, futures, options, currency, baseball cards, or whatever) you are speculating. Look in the mirror.

 

[olias]

Quote from MKTrader:

I was simply playing your game. You believe everything the lamestream press says and throw insults and one-liners at anyone who challenges you. I thought you might pick up on what I was doing and realize your folly, but I guess not.

I lowered my game to prove a point.

I'm not a one-liner guy, boss. I think you might have me confused with someone else. I keep it civilized and to the point, with only the occasional one-liner. Also, I don't sit on Elite Trader all day looking to respond in every debate/discussion.

Also, I don't 'believe everything' from anybody. I'm a skeptic, and I'm logical. I'm also flexible enough to change my mind on something. I don't attach pride and self-esteem into being 'right' like so many other ET clowns. You have failed to change my mind on this issue in the slightest. Also, my perception is the the mainstream media echoes your position, not mine.

 

[olias]

Quote from Tsing Tao:

considering you are unable to answer my repeated request on how to explain the falling dollar correlation chart with oil (and other commodities), i think most see who is what, here.

Who is what? I admit I don't know the answer to that riddle.

There is a correlation, yes. For the umpteenth time I don't deny there is a correlation. But just as you or I can go online and be bombarded by idiots pointing the finger at the Fed for all inflation, obviously there are a lot of people who believe that. It's the power of perception. People believe it, and it becomes a self-fulfilling prophecy. ...until the bottom falls out.

 

[olias]

Quote from limitdown:

isn't that interesting,

when it suits their argument there is a shortage,

when it suits their argument, there's a shorting on the ETF's, and the balance of oil no longer matters

anyone else see that we're all being played, like puppets?

Agree. Blaming 'speculators' for the high price of gas is absurd.

 

[denner]

Quote from olias:

I'm not a one-liner guy, boss. I think you might have me confused with someone else. I keep it civilized and to the point, with only the occasional one-liner. Also, I don't sit on Elite Trader all day looking to respond in every debate/discussion.

Also, I don't 'believe everything' from anybody. I'm a skeptic, and I'm logical. I'm also flexible enough to change my mind on something. I don't attach pride and self-esteem into being 'right' like so many other ET clowns. You have failed to change my mind on this issue in the slightest. Also, my perception is the the mainstream media echoes your position, not mine.

Spin, spin, spin...lie, lie, lie.

You're completely full of it.

 

[Tsing Tao]

Quote from olias:

Who is what? I admit I don't know the answer to that riddle.

There is a correlation, yes. For the umpteenth time I don't deny there is a correlation. But just as you or I can go online and be bombarded by idiots pointing the finger at the Fed for all inflation, obviously there are a lot of people who believe that. It's the power of perception. People believe it, and it becomes a self-fulfilling prophecy. ...until the bottom falls out.

so you cannot answer the fact that the falling dollar is almost exactly correlated to the rising price in oil (and gold, etc) but you refuse to take my answer for it that the Fed's printing of money causes weakening the dollar causes inflation hedging, and therefore the Fed is responsible for driving up prices. you're essentially saying i'm wrong but you don't know what is right - so long as it is not me. did i get that right?

 

[Tsing Tao]

Quote from rew:

Me, I find it amusing to find all the speculator hating going on here in ET. Whatever it is that you're trading (stocks, bonds, futures, options, currency, baseball cards, or whatever) you are speculating. Look in the mirror.

who is blaming speculators here? the only blame i see being assessed is on the federal reserve and banana ben.

you cannot blame speculators for taking a hedge position against inflation the federal reserve is creating.