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

To: Elroy Jetson who wrote (78857)	5/7/2008 5:41:41 PM
From: koan	Read Replies (1) \| Respond to of 116555

Elroy: " When the value of your home was rapidly appreciating, were you desperate to sell to avoid losing out on the "present value of money"? No, and you shouldn't be surprised that oil firms are not either. Your comment doesn't even make sense." koan: "you think a person's home and a commodity like oil are analagous with regard to the present and future value of money-lol?

To: Elroy Jetson who wrote (78857)	5/7/2008 6:26:48 PM
From: benwood	Read Replies (1) \| Respond to of 116555

But most people only have one home. A better comparison would be a condo builder with 1000s for sale. Would that builder sell faster as prices escalated dramatically? Depends on what they think will happen in the future, of course. I'd wager that ALL of them wish they'd sold faster at this point. IN the case of most, they were limited by their ability to finish projects. With oil companies, they are likely near capacity already, so increasing production isn't necessarily option. I think at this point, an Enron-type fleecing is now ripe for the pickin' and that oil companies will be gouging consumers royally in the next few months due to shortages and panic largely created by the oil companies themselves. I don't think it will take much thought at this point. They've already laid the groundwork -- no new refineries in decades; elimination of competition in most major markets; installation of a favorable gov't that condones reaming consumers with impunity.