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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Jon Cave who wrote (71882)8/29/2000 11:33:12 AM
From: edward miller  Read Replies (2) of 95453
 
RE: Why is $33 oil not inflationary?

Just my opinion, but it is inflationary but nobody wants
to admit that inflation is back. The underpinnings of the
market and also the low increases in wages and Social Sec.
payments are all dependent upon the belief of no inflation.

Those who ignore oil at $33 are in total denial.

Also I read a good comment made by Steven Lieb, although I
am not a fan of him at all. He pointed out the obvious,
which is that at $10 oil was much less of an impact on the
economy even at the same volume of consumption. Well Duh!!

People are clinging to the idea that oil is not as important
because it fits the delusion they are trying to maintain.

Nothing will change until the general public starts to do
a frantic reaction, which will show up in strikes and very
big labor contracts, starting with the airline pilots.

The talking heads on TV are too stupid to figure it out.
They can only read what is in front of them.
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