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Soros the Soothsayer says... - 5/26/2008 6:36:40 AM   
RealityLicks


Posts: 1615
Joined: 10/23/2007
Status: offline 		Are you having fun yet?

quote:


At just over $130 a barrel, the price has doubled in around a year, causing misery for motorists and businesses.
However, Mr Soros warned that the oil bubble would not burst until both the US and Britain were in recession, after which prices could fall dramatically.


http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/26/cnsoros126.xml


These predictions are guaranteed to cheer you up, especially if you're enjoying your Bank Holiday or Memorial Day weekend. 

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RE: Soros the Soothsayer says... - 5/26/2008 6:50:00 AM   
kittinSol


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Status: offline 		Britain? What's that?

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RE: Soros the Soothsayer says... - 5/26/2008 6:55:40 AM   
RealityLicks


Posts: 1615
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Status: offline 		You knw: Winston Churchill's the president and Sherlock Holmes is the prime minister.  That's where the expression "holme-boy" comes from.

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RE: Soros the Soothsayer says... - 5/26/2008 6:57:49 AM   
kittinSol


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Status: offline 		Is it next to Dunkin Donuts? Do they sell ammo?

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RE: Soros the Soothsayer says... - 5/26/2008 7:00:27 AM   
cyberdude611


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quote:

ORIGINAL: RealityLicks

You knw: Winston Churchill's the president and Sherlock Holmes is the prime minister.  That's where the expression "holme-boy" comes from.


There was a poll that showed that most Britons thought Holmes was a real person.

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RE: Soros the Soothsayer says... - 5/26/2008 7:00:30 AM   
RealityLicks


Posts: 1615
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Status: offline 		As in "ammo kick yo butt"? Got it in one!

Sadly, that knowledge is useless because its an out-of-town location and since we'll all be skint we still won't be able to afford the fuel to get there.

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RE: Soros the Soothsayer says... - 5/26/2008 7:01:42 AM   
kittinSol


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Status: offline 		Did you know that Homes was a real person?

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RE: Soros the Soothsayer says... - 5/26/2008 7:11:52 AM   
windchymes


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quote:

ORIGINAL: kittinSol

Is it next to Dunkin Donuts? Do they sell ammo?


And scarves.

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RE: Soros the Soothsayer says... - 5/26/2008 7:26:21 AM   
Sanity


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Status: offline 		"Death to the Jews" scarves?

quote:

ORIGINAL: windchymes

quote:

ORIGINAL: kittinSol

Is it next to Dunkin Donuts? Do they sell ammo?


And scarves.


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RE: Soros the Soothsayer says... - 5/26/2008 7:37:14 AM   
kittinSol


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Status: offline 		Thanks for that  .



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RE: Soros the Soothsayer says... - 5/26/2008 8:06:59 AM   
Zensee


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Status: offline 		Ooops. Someone mentioned donuts and scarves. Watch for this thread in a second run, random stupidity forum near you...



Z.


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RE: Soros the Soothsayer says... - 5/26/2008 8:19:44 AM   
Politesub53


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quote:

ORIGINAL: cyberdude611

quote:

ORIGINAL: RealityLicks

You knw: Winston Churchill's the president and Sherlock Holmes is the prime minister.  That's where the expression "holme-boy" comes from.


There was a poll that showed that most Britons thought Holmes was a real person.


Elementary my dear Watson. Sadly the same number think GWB is real, and are correct.

Soros is so good to us, pointing out speculators are driving oil prices and profiting from misery. Deja Vu indeed.

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RE: Soros the Soothsayer says... - 5/26/2008 10:45:00 AM   
popeye1250


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quote:

ORIGINAL: RealityLicks

Are you having fun yet?

quote:


At just over $130 a barrel, the price has doubled in around a year, causing misery for motorists and businesses.
However, Mr Soros warned that the oil bubble would not burst until both the US and Britain were in recession, after which prices could fall dramatically.


http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/26/cnsoros126.xml


These predictions are guaranteed to cheer you up, especially if you're enjoying your Bank Holiday or Memorial Day weekend. 




"The Sage of Omaha" Warren Buffet said pretty much the same thing last week.
That this recession will be deeper and last longer than most people think.
And, he said we're already in a reccession.
I was at the beach last night and was talking to a waitress and she told me that business was down 20-25% from last Memorial day.
It did seem pretty quiet for a Memorial day weekend and I had no trouble finding a parking spot.
She said it was "gas prices"; "People don't go out as often when gas prices are this high." "It's really hurting our business."
And Soros is right about gas prices being in a bubble.
At some point they'll fall."What goes up..."

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RE: Soros the Soothsayer says... - 5/26/2008 10:52:31 AM   
Alumbrado


Posts: 5560
Status: offline 		They'll keep rising until people quit paying them, at which point the laws of commerce will dictate that the oil producers scramble to dump their surpluses on the market in search of short term gains.  Same with food.

If people keep their heads in the sand, that point will occur somewhere around $1,000 a gallon or loaf. Right after all those 'honest politicians' take office.

If everyone said 'screw this' and withheld their business to subsistence levels for a couple of weeks, the price turnaround would happen immediately.

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RE: Soros the Soothsayer says... - 5/26/2008 11:26:54 AM   
RealityLicks


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Status: offline 		If only.  Demand is best described as the desire to buy - and the ability to pay for - goods.  Sadly, the prices will stay high until we really can't pay them.

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RE: Soros the Soothsayer says... - 5/26/2008 11:52:47 AM   
rulemylife


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quote:

ORIGINAL: popeye1250

quote:

ORIGINAL: RealityLicks

Are you having fun yet?

quote:


At just over $130 a barrel, the price has doubled in around a year, causing misery for motorists and businesses.
However, Mr Soros warned that the oil bubble would not burst until both the US and Britain were in recession, after which prices could fall dramatically.


http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/26/cnsoros126.xml


These predictions are guaranteed to cheer you up, especially if you're enjoying your Bank Holiday or Memorial Day weekend. 




"The Sage of Omaha" Warren Buffet said pretty much the same thing last week.
That this recession will be deeper and last longer than most people think.
And, he said we're already in a reccession.
I was at the beach last night and was talking to a waitress and she told me that business was down 20-25% from last Memorial day.
It did seem pretty quiet for a Memorial day weekend and I had no trouble finding a parking spot.
She said it was "gas prices"; "People don't go out as often when gas prices are this high." "It's really hurting our business."
And Soros is right about gas prices being in a bubble.
At some point they'll fall."What goes up..."


They'll fall but by how much?  Katrina was used as an excuse to push them up over $3 and they came back down, but only by a little and not for long.  It's kind of like training your pets. We'll be "conditioned" slowly to accept the higher prices.  I was watching the talking heads on TV yesterday and they're already talking about $5 a gallon by the end of summer.  Then they'll come back down and we'll all breathe a sigh of relief and say thank God gas is "only" $4 now.

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RE: Soros the Soothsayer says... - 5/26/2008 2:14:56 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Rulemylife, look at the housing "bubble."
Some areas have experienced 40% drops already.
A "Bubble" is much different than just rising prices.
It "feeds" on itself on the way up and that's what causes it to go so far beyond "value."
On the way down there's no-one interested in buying those options so it takes a while to form a base. In the meantime it drops quickly.
Right now speculators on Wall St are making a lot of money betting that gasoline futures will go up.
But when, "the party's over" the bottom will drop out of the gas futures market and it will drop precipitously.
That's the trick though, being able to see when the party's over.
I don't think that'll happen till sometime this fall.

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