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| Subject: Why has the euro and other currencies gained 75% against the dollars value, | |
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Author: jw |
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Date Posted: 15:28:36 10/31/07 Wed In reply to: Oropan 's message, "Doesn't look like it on the charts" on 12:57:30 10/30/07 Tue and the euro has inflated! If european inflation has been 2 - 3% a year, and the euro has increased 75% against the dollar this decade, the inflation rate here must be much higher than the 2 - 3% a year lie the bush admistration is feeding us. We americans are not that dumb. > >href="http://inflationdata.com/inflation/inflation_rate >/HistoricalInflation.aspx">http://inflationdata.com/inf >lation/inflation_rate/HistoricalInflation.aspx > > > > >> The reason cited for oil rising now is that mexico >>just cut production by 600,000 barrels a day from the >>gulf of mexico. While the current cutback in mexican >>production is because of unusualy stormy conditions in >>the gulf, mexican oil production is likely to fall >>rapidly in coming years, as reserves were over stated. >> Opec oil production is not being increased beyond >>levels seen in recent years, even though opec claimed >>it wanted to keep oil below 40 dollars a barrel, it is >>now over 90! It is widely believed that opec has lied >>about their reserves, they are overstated by a third, >>which means that conventional oil capacity may be near >>a peak, so we are now competing with chinese slaves >>who will work 15 hours a day to fuel scooters, and >>there are 1.3 billion chines, hope you enjoy >>capitalist competition, i prefer to walk or ride a >>bike! >> >> The dollar is hitting record lows almost every day >>against the euro and many other currencies, including >>third world currencies. Every week it seems prices at >>the supermarket go up again, and by large amounts. I >>do not remember price increases like this since the >>70's - 1980, but at least in those days your pay kept >>up with the price increase. Today the bush >>administration claims that inflation is only 2 -3%, >>which is an outright lie, our economy is in collapse, >>the american century is over, we have been destroyed >>by our own greed, not foriegn threats. >> >> Capitalism is the main cause of the arctic meltdown >>and the coming climate catastrophe, no other system >>could produde so much pollution. We now see that >>capitalism is unable to provide for the people and it >>is destroying our planet, it is a failed economic >>system. >> >> >>______________________________________________________ >_ >>_ >> >>Crude Oil Climbs to Record Above $93 as Mexico Halts >>Production >> >>By Mark Shenk >> >> Oct. 29 (Bloomberg) -- Crude oil climbed above $93 a >>barrel in New York for the first time after Mexico >>shut a fifth of its production and the dollar fell to >>a record low. >> >>State-owned Petroleos Mexicanos, or Pemex, halted >>about 600,000 barrels a day of output as a storm >>passed through the Gulf of Mexico, spokesman Carlos >>Ramirez said in Mexico City. The dollar dropped to >>$1.4426 per euro, the weakest since the introduction >>of the 13-nation common currency in 1999. >> >>``Such a massive shut-in by Pemex is bad for the >>market because they are such an important supplier to >>the U.S.,'' said Addison Armstrong, director of market >>research at TFS Energy LLC in Stamford, Connecticut. >>``There are no bearish factors in the market right >>now.'' >> >>Crude oil for December delivery rose 56 cents, or 0.6 >>percent, to $92.42 a barrel at 9:35 a.m. on the New >>York Mercantile Exchange. Futures climbed to $93.20, >>the highest since trading began in 1983. Oil is up 52 >>percent from a year ago. >> >>Brent crude oil for December settlement rose 71 cents, >>or 0.8 percent, to $89.40 a barrel on the London-based >>ICE Futures Europe exchange. Brent reached $90, the >>highest since trading began in 1988. >> >>The oil market ``may be only one or two events away >>from'' $100-plus oil, Daniel Yergin, chairman of >>Cambridge Energy Research Associates, said in remarks >>prepared for a conference today at Georgetown >>University. >> >>Mexican Crude Oil >> >>The U.S. imported an average 1.45 million barrels of >>crude oil a day from Mexico during the first eight >>months of the year, making the country the >>second-biggest source of U.S. imports, according to >>the Energy Department. >> >>``There are some legitimate storm fears out there but >>the momentum was already pushing prices higher,'' said >>Eric Wittenauer, an energy analyst at A.G. Edwards & >>Sons Inc. in St. Louis. ``This may prove a non-event >>because there are forecasts that show it may move away >>from the Mexican fields. Until we know for sure where >>it is headed the storm will remain supportive.'' >> >>At least 21 workers died when a rig hit an offshore >>platform in the Gulf of Mexico during a storm that >>produced waves as high as 26 feet and wind gusts of 81 >>miles per hour on Oct. 23. Mexican President Felipe >>Calderon ordered an investigation into whether the >>accident could have been prevented. >> >>Gale-force winds from a weather system between Florida >>and the Yucatan peninsula are whipping up 8-foot waves >>in the Gulf of Mexico, according to the U.S. National >>Hurricane Center. There are no named tropical storms >>in the Gulf, and one near Cuba, called Noel, is >>expected to twist northwards and avoid the Gulf. >> >>``What we're seeing in the oil market today is rooted >>more in the cauldrons of geopolitics and the impact of >>financial markets, expectations and psychology than in >>supply and demand,'' said Yergin, whose book ``The >>Prize: The Epic Quest for Oil, Money & Power,'' won >>the Pulitzer Prize. >> >>Tensions between Turkey and Iraq over Kurdish >>militants as well as over Iran's nuclear program have >>also helped drive oil prices higher. >> >> >>>Did you forget to take your meds today??? >>>"Our free market is melting the arctic and greenland >>>ice caps." >>>Are you also smoking something? >>>Oil prices are going high because of increasing >demand >>>around the world...especially Asia. I might also add >>>because of kooky econut pressure to stop oil drilling >>>anywhere in the USA. >>>Anyway, now you can crawl back into your little >econut >>>hole and put on your tinfoil hat before the sky falls >>>down on you. >>> >>> >>> >>> >>> >>> >>> >>> >>>> Prices just keep rising, the dollar keeps >>dropping, >>>>america is worthless, all dictators, terrorists, and >>>>most business crooks thank bush and the republicans >>>>for following the "free market" cult and destroying >>>>america. Russia is now extremely powerful, they are >>>>now the second largest spender on the military, they >>>>have begun flying nuclear armed planes around the >>>>clock again, they are rapidly expanding their army, >>>>and russia has again begun providing aid to >america's >>>>enemies, all thanks to the oil wealth bush and the >>>>republicans have helped them aquire. >>>> >>>> Iran and other oil shiekdoms bent on america's >>>>destruction are being greatly enriched thanks to >bush >>>>and the repbublican's failed energy policies, and >>they >>>>are working with china to develop more oil wealth >and >>>>increase their military capabilities. Now that bush >>>>has screwed up iraq, we are not well prepared to >>>>respond to the new threats posed from our oil-rich >>>>adversaries that our economy has helped enrich and >>>>strengthen. >>>> >>>> China collaberates with all of our enemies, they >>>>are the primary backers of north korea and sudan, >>>>china is helping iran and syria, they are also >buying >>>>up the third world. Our free markets have shipped >>our >>>>industry to china, depleting america of any real >>>>productive economic output, while giving china the >>>>technological and economic ability to become a >>>>military superpower, and they are taking full >>>>advantage of it. >>>> >>>> America is in retreat, our wealth and power is >>>>being turned over to the dictators of the world who >>>>seek our destruction, this is pretty pessimistic >>>>stuff, i should have faith in bush, the republicans, >>>>and their free market cult. Our free market is >>>>melting the arctic and greenland ice caps. We just >>>>lost 20% of the permenent arctic ice cap in just the >>>>last summer, as much as we have lost over the last >27 >>>>years of satalite measuremed arctic ice loss, over a >>>>million square miles of the once 2.7 million square >>>>mile arctic ice cap. A few years ago, the US navy >>>>predicted that the ice cap would dissapear around >>>>2013, it appears this forecast may be the most >>>>accurate one. Even the more conservative national >>ice >>>>and snow data center is now predicting the loss of >>>>summer arctic ice by 2030, which was pushed up from >>>>2070. >>>> >>>> The arctic ice cap has been around about a >million >>>>years, our free market economy is causing one of the >>>>most catstrophic changes on earth since the >>>>destruction of the dinasaurs. It is not likely that >>>>the dictatorships of russia, china, iran, north >>korea, >>>>saudia arabia, arab emirates, etc. will be able to >>>>deal with the comming "evolution" the earth will go >>>>through, so the earth will not be dominated by >>>>dictatorship. We must admire the greatness of our >>>>free market economy, even as it destroys america, it >>>>will spare the world of global dominance by evil >>>>dictatorships because it will destroy them also with >>>>global warming. >>>> >>>> Finally, our free market economy will settle the >>>>debate on evolution. Yes, there is evolution, but >>>>unlike the darwinian version, it happens extremely >>>>suddenly. The evolution we are beginning to >>>>experience would normally take thousands of years, >>but >>>>our free market economy has greatly refined the >>>>process, so we will see it in our lifetimes, >assuming >>>>we survive. >>>> >>>> We should stand in awe at the greatness of our >>free >>>>market economy, look at all this progress, who ever >>>>thought we could witness evolution on a human time >>>>scale? [ Next Thread | Previous Thread | Next Message | Previous Message ] |