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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: SliderOnTheBlack who wrote (40567)	3/23/2005 12:35:44 AM
From: ihor43us	Read Replies (1) of 206223

Hmmm, China dying from high CL prices. Don't think so. Here is why: 1. China does not need to keep their money pegged to the US$. 2. We are stuck with the US$. 3. Much of the oil price increase is due to the drop in the US$. In terms of the Euro, the increase is not so bad. 4. China - Europe trade > China - US. China is also building internal demand as well as increasing trade with other Asia countries. 5. When the cost of resources gets too high for China, they can unpeg. 6. Cost of oil (and all resources priced in US$) will drop. For China, not the U.S. of A. Then they will use much less that 7 times as much resources as Japan in $10000 worth of product. WalMart prices will go up. So will our trade deficit. 7. $100 CL will harm us much more than China - there is a limit to how much of our debt the world will buy. Guess how much our trade deficit will increase if CL hits $100 per bbl? Do you really think that we can foist that much more paper on the world? I don't. We are in much more danger from high oil prices than China. BTW, they still know how to ride bicycles. Ever see an obese American on a bike? Hilarious. Ihor

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