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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Jon Cave who wrote (71927)	8/29/2000 12:09:02 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

Or you could buy 10 PC's with 640K memory, 10 MB hard drives and 8 MHz processors! Hmmm, 10 grand for a 80 MHz pc with 6.4 MB, and an 100 MB hard drive? Today you can find more powerful systems for free on rubbish day. ..."in 1980-81. You could buy the nicest new pickup made for less than $10k."...

To: Jon Cave who wrote (71927)	8/29/2000 12:55:04 PM
From: edward miller	Respond to of 95453

Jon, I agree with everything he said, but it is all relative. The truth is that even though all that is true, higher oil prices are inflationary, just less so than in 1980. In the spring I had a few conversations with an old friend about gasoline prices. Compared to 1980 we all make so much more that $2 per gallon is not very expensive, but we like to complain. Contrary to what some have said, crude oil prices can sit in the $30-35 dollar range permanently without crashing the world economy. Sure, people will have to pay more and in developing economies the impact is more painful in some regards, but remember they aren't tied to their cars like us rich Westerners. They actually understand the concept of doing without things they can't afford, so they will make do, just like our parents and grandparents did. Most of us have just forgotten there is that option. <gggg>