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

To: Chispas who wrote (35494)	8/17/2005 12:58:23 AM
From: CalculatedRisk	Read Replies (2) \| Respond to of 116555

I believe oil prices have to bite. Oil as a % of GDP is now higher than the '73 crisis and oil imports as % of GDP is as high as the '79/'80 crisis. The only positive I see is this is a demand shock, not a supply shock ... so lower demand will lower the price. BUT - a far larger % of oil is used for transportation than in the '70s and those are the most resistant users to higher price (except the private pilots!) I agree - Developing ... I plotted some graphs on this if you missed them: angrybear.blogspot.com