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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (26963)	4/6/2005 3:36:12 AM
From: damainman	Respond to of 116555

I think the key here is this: "So far, however, that premium does not seem to be translating into lower consumer demand. When oil spiked in the 1970s and early 1980s, consumers responded by using a lot less of it. This time, however, they seem blithely unconcerned." Everyone, including Greenspan, is expecting oil to just go down and so as a consequence, nobody changes their behavior. Could we see a repeat of the 70's for the Big Three automakers with GM being the one we're forced to bail out this time?