Rolling US Economy Into The Shitbin Thread

People of America do not worry. The Government is pleased to tell you that gasoline prices went down last month

http://www.bls.gov/cpi/cpid0804.pdf

THE US IS DOOMED TO CI-ISRAILI MONEYTARY HODGEPODGE IN LIGHT OF THE CHINAMAN WHO LEARNED MATH SINCE HE WAS 3

LIBERTARIAN RULE IN THAT THE CYBORGIAN ELITE WILL RULE CAPITAL TO A CERTAIN EXTENT? IS ZUCKERMAN A FLASH IN THE PAN OR AN ARMY OF OVERMEN

COMICBOOK TROLL THINKS FOR HIMSLEF!!!

Anybody have any thoughts on the future for dollar pegs in Gulf States, China and others?

The Gulf States will not need to unpeg from the dollar anytime soon, unless there is a switch to pricing oil in euros. Oil is its own currency and it is stronger than it has ever been. This insulates them from most of the problems associated with a weak national currency.

China is a very interesting question. I'm sure they are rather perturbed about the weak dollar, but more in terms of the US Treasury debt they hold. However, China can hold fast to their dollar peg for some time, yet.

China can purchase many of the imports they need (aside from oil) from the USA. The capital they are accumulating can mostly be absorbed in building their domestic infrastructure for some time yet. If they are looking to make foreign investments, they can buy out banks and corporations in the uSA for a while. Under those circumstances, the dollar peg will not hurt their basic export market or their capital expenditures.

They can sit tight for a while, I think.

my hollow soul chuckles each time I see one of those Cadillac advertisements on a major television network, while GM buys out another 19,000 employees' contracts because they can no longer move Escalades.

The story is sobering.

The photo with it...

http://media3.washingtonpost.com/wp-dyn/content/photo/2008/06/03/PH2008060303916.jpg

i hope the die-hard reagonomics people can now agree that inflation causes wage demands rather than vice versa

shorter washpo, krugman, et al: "the silver lining so far is that this time, wage earners appear happy to be screwed!"

Wage and Price rises are always a symptom never a cause.

Don't know if you guys think a poll is a good idea for future oil prices (Or any other commodities). Recession led falls or continuing rises - where do you stand?

I love how all these people say this current downturn is "self-confirming", as if the fears of people are what caused this crisis in the first place. Not the wholesale deregulation of financial markets and criminally lopsided taxation policies... nope, not that at all. People feared it, so it's all your fault.

bears cause bear markets!!! if only they'd leave us bulls alone!!

http://pics4.city-data.com/ctrends/ctr15576.png

What do you guys make of Utica's seeming resistance to downward trend?

Everyone's just buying from everyone else. It's a little game they play.

we gonna die

Is it just me or do investors have an extra hard time believing the Dow can go below a nice round number like 12000?

good god, these finance write-downs are going to blow the country up.

we gonna die

-- Jimmy The Mod Awaits The Return Of His Beloved, Friday, June 6, 2008 2:59 PM (1 week ago) Bookmark Link

http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=a47LjRtOU3c0 (from April)

Today:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=avumSU7sV7hs
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atvukb5100PY

Nice knowing you, transport industry

From yesterday's House Committee on Energy & Commerce hearing

Mr. Chairman and Members of the sub-committee:

My name is Steve Williams and I am the Chairman and CEO of Maverick USA in Little Rock
Arkansas.

I have also served as a three time chairman of the Arkansas Trucking Association and am a
former chairman of the American Trucking Associations. I am on the Executive Committees of
the American Transportation Research Institute and the Transportation Research Board of the
National Academies of Science.

My company, Maverick USA, operates the second largest company-owned flatbed fleet in the
United States. We employ nearly 2,000 people and operate more than 1,500 tractors. My
company serves the steel, building material and the flat glass industries.

In 2007, despite revenues of $300 million we lost money for the first time in our 27 year history.
Our fuel bill increased by $12,000,000 between 2006 and 2007, and we were not able to recover
this increase due to a weak economy.

The national average price of diesel fuel on June 16, 2008, was $4.62 per gallon. If this price
remains constant for the rest of this year, our company’s fuel bill will increase from $66,923,000
last year to $114,954,000 this year, a 72% increase in one year.

The fuel crisis is having a dramatic effect on the trucking community. Tom Albrecht, an
industry analyst with Stephens, Inc., wrote on June 10, 2008, that these fuel prices could force 14
percent to 16 percent of the trucking industry to cease operations.

Not only will this further reduce capacity from the market, it will make the used truck market
even worse. There are few domestic buyers for used equipment and over the last year we have
been forced to wholesale our tractors to Russia and Vietnam.

the rest is here:
http://energycommerce.house.gov/cmte_mtgs/110-oi-hrg.062308.EnergySpec.shtml

whaddya know, decades of underinvestment in transport infrastructure actually has consequences

Energy Speculation: Is Greater Regulation Necessary to Stop Price Manipulation? – Part II

Whoot! for the coming US command economy.

no no tracer it's all because we didn't drill in ANWR when we should have, and we're letting the chinese drill sideways from cuba to florida to access the massive offshore reserves that nobody's been interested in until last month

the gop drill drill drill grandstanding is kind of amazing at this point

THEY PUT PEE PEE IN YOUR MIRKSHAKE!

DRILL G*DDAMN IT, DRILL THE FUCK OUT OF STUFF OR WE ALL GONNA DIE

OUTTA MY WAY LITTLE MAN, DADDY'S GOT A DRILL

GLAGLGLGLAGALGALGGAHHAGHAGHAAGLGAGL

Spoken like a true descendant of John Henry.

you know, i think cheny et al really thought iraq was gonna forestall this shit

they had the best of intentions

The Romans would have handled this better. Conquered nations should be paying tribute, not breaking our budget.

Has there been any mention in the media that any new drilling would be sold on the global market rather than just the US market? I know it's just another checkmark in a *very* long 'con' column, but it seems like opponents to drilling would mention it more often.

we gonna die

apocalypse homie laid out his theory today:

-oil hits $200/barrel by the end of the year
-energy prices go up and summer 09 is another long hot summer inna 68 stylee
-o gets got, riots
-old ppl dieoff in the northeast as energy gets too expensive to handle extremes of summer & winter
-us economy tailspins, rest of world follows
-http://images.amazon.com/images/P/6305075379.01._SCLZZZZZZZ_.jpg

Hoosteen did you forget you started this
"Is It Thunderdome Yet?" A Rolling Looming Apocalypse Thread

no sir just thought given crackpot homie used some numbers it might loosely fit in here but i forget this is interesting egghead thread not hoos paranoia jpeg thread carry on apologia

it was the use of the mad max graphic that betrayed your true intentions

yr apocahomie has concatenated two unrelated but plausible events in $200 barrel oil and obama getting offed. but while a few americans might riot, the vast majority would bury the dead, grit their teeth, put their heads down and pull their yokes even harder. no mad max to be found in that scenario.

we're talking literal yokes

Oxen - The Next Big Investment Opportunity?

hot damn, you know what always outperforms in an apocalyptic post-empire economy? indie fucking rock, I'm gonna be rich

As long as you're getting paid in Canadian dollars and Euros, eh.

need to call my manager about promoting in "emerging markets"

I'll eat rats before I'll tour Europe again

or perhaps just set myself up as an expert in building tiger economy fanbases

oh smack Tom you wanna talk turkey you know how to find me