Hooray for Uncle Al KBE increasing interest rates again. I'm a lender of US$ and holder of them and I am still underwater. Interest rates need to go up some more before US$ are of long-run value.
If you haven't seen any economic growth, you haven't been watching QUALCOMM's revenue and bottom line and the adoption of cyberphones around the world. China is booming. It was nearly two years ago now, but on my visit there, I saw a LOT of construction going on. Same in Auckland on a mini scale. QUALCOMM is hiring Indians and Chinese and they are economically booming. Many companies are doing the same.
Globalstar is gaining customers daily. They gained a LOT during the Katrina disaster as people realized that having communications is a good idea and sometimes one can't rely on limited range terrestrial coverage.
There are many alternatives to oil for energy, ranging from conservation, insulation and alternative ways of life than roaring down freeways in Hummers, to superconductor levitated photo/electronic controlled individual passenger vehicles powered by photovoltaics, biofuels, windmills, coal, Orimulsion, nuclear fission, nuclear fusion etc.
I saw the other day that Mitsubishi is onto my cunning plan to put electric motors in each wheel of a car as the propulsion system. Fisher & Paykel [a NZ company] has got an excellent motor system for their washing machines which I thought could be adapted to propel and brake and steer vehicles.
There's no worry. We old geezers have been through an oil crisis in 1974, then 1979 and this little blip in 2005. It's just market volatility. No big deal. The universe is made of energy. We will NOT be running out and the cost is lower than current oil prices. OPEC knows that.
Mqurice |
