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

To: mishedlo who wrote (98663)	6/17/2009 2:53:54 PM
From: axial	Read Replies (2) \| Respond to of 116555

Mish, re: "The entire decline in prices over the past year stemmed from a 27.3% drop in energy prices. Crude-oil and gasoline prices have turned higher recently, however." Once again, the public is being held hostage to artificially inflated oil prices - a function of market dislocations introduced by financial "innovations" Wall Street is fighting so desperately to keep. "He says traders are taking positions, holding oil in tankers offshore and waiting for the price to spike, which becomes a "self-fulfilling prophesy" based on paper demand, not real consumption. "Demand is rising artificially because a big chunk of it goes to storage," he says. "Somebody is holding the oil and releasing it at higher prices--the same gimmick, the same game that we have gone through before." --- Oil's Paper Bubble Perception is once again substituting for reality in the oil markets. Message 25721005 Jim