You have to be kidding me!- US inflation rate does include Food or Fuel? - IDN Forums

Rubber Duck · #1 (**permalink**) 28th April 2008, 08:57 AM

http://www.news.com.au/heraldsun/sto...71-664,00.html

What kind of Micky Mouse Economy are they running over there!

bwhhisc · #2 (**permalink**) 28th April 2008, 09:40 PM

Yup, seems my crystal ball was working well...see post # 7.

http://www.idnforums.com/forums/1721...e-shitter.html (Bernanke Speak for: Its all going down the Shitter!)

Rubber Duck · #3 (**permalink**) 28th April 2008, 09:47 PM

The latest news seems even more gloomy.

Opec President seems to be predicting Oil at $200 a barrel, and it looks like the first quarter is going to remain positive because US companies did not cut back on production so inventories have gone through the roof. This massages the figures, but actually makes the whole situation even more fragile.

touchring · #4 (**permalink**) 29th April 2008, 03:51 AM

The gulf arabs got all the leverage, china's still subsidizing oil, and gasoline is still too cheap for american SUV drivers.

Guess where's all the money flowing to the next 20 years? LOL.

Rubber Duck · #5 (**permalink**) 29th April 2008, 04:51 AM

Quote:

Originally Posted by touchring

The gulf arabs got all the leverage, china's still subsidizing oil, and gasoline is still too cheap for american SUV drivers.

Guess where's all the money flowing to the next 20 years? LOL.

Can you even imagine what it is like in Baku right now!

bwhhisc · #6 (**permalink**) 29th April 2008, 11:44 AM

Quote:

Originally Posted by touchring

The gulf arabs got all the leverage, china's still subsidizing oil, and gasoline is still too cheap for american SUV drivers.

Guess where's all the money flowing to the next 20 years? LOL.

Canada...the new #1 oil supplier to the USA.
Now that oil is over $100 they are full throttle mining the oil sands.
Things are about to get started back up with oil shale in the US.
IMO watch for lots of spending into new technology now that oil ain't gonna be cheaper for a few decades.

Rubber Duck · #7 (**permalink**) 29th April 2008, 01:10 PM

Quote:

Originally Posted by bwhhisc

Canada...the new #1 oil supplier to the USA.
Now that oil is over $100 they are full throttle mining the oil sands.
Things are about to get started back up with oil shale in the US.
IMO watch for lots of spending into new technology now that oil ain't gonna be cheaper for a few decades.

Maybe but a lot of industrial operations that are not based on the frugal use of resources are going under. There is going to be a massive scaling down of some operations and the US internal air carriers are likely to take some of the brunt of this.

Car manufacturers that are not geared up to produce fuel efficient cars are really going to continue to struggle. Toyota and other Japanese companies are light years ahead of the US on both fuel economy and alternative technologies.

It is impossible for the US to justify the amount of the World resources it has been squandering when three quarters of its economy is about retail and much of that is about buying imported goods. The US has some strengths especially in the IT sector but these are not currently big enough to carry the dead weight of the rest of the economy. Wall Street and Finance has been a huge money spinner, but that is and will continue to take a hammering. They just cannot hang all their clients out to dry and expect them to come back with fresh business.

Giant · #8 (**permalink**) 30th April 2008, 12:42 AM

Quote:

Originally Posted by bwhhisc

Canada...the new #1 oil supplier to the USA.

Let's sing the Canadian anthem.

"O Canada!
Our home and native land!
True patriot love in all thy sons command.

With glowing hearts we see thee rise,
The True North strong and free!

From far and wide,
O Canada, we stand on guard for thee.

God keep our land glorious and free!
O Canada, we stand on guard for thee.

O Canada, we stand on guard for thee"

kenne · #9 (**permalink**) 2nd May 2008, 12:27 AM

Why does China subsidize gas btw?

My wife has a proposal:
Every oil importer countries should join to form an OPIC (Oil/Petro Importing Countries) cartel with joint policy of charging 30+% gas tax with the revenue going to alternative energy or anything but oil.

This way OPEC can manipulate supply, OPIC can manipulate demand. OPEC can have more fun predicting price of oil

touchring · #10 (**permalink**) 2nd May 2008, 03:14 AM

Quote:

Originally Posted by kenne

Why does China subsidize gas btw?

My wife has a proposal:
Every oil importer countries should join to form an OPIC (Oil/Petro Importing Countries) cartel with joint policy of charging 30+% gas tax with the revenue going to alternative energy or anything but oil.

This way OPEC can manipulate supply, OPIC can manipulate demand. OPEC can have more fun predicting price of oil

Most developing countries subsidize gasoline to some extent. China only subsidizes diesel fuel.

Most developed countries, with the exception of the US, have got at least 30% tax (many are like 100%-150% tax) on gasoline.

The US congress and whitehouse is controlled by the oil companies, so they will resist any taxes that will reduce their profits.

Rubber Duck · #11 (**permalink**) 2nd May 2008, 04:59 AM

Which is why the US as a country will remain uncompetitive. To be competitive as a nation you are going to need to get the most out of scarce and increasingly expensive resources. Taxing them encourages this. This is way beyond the comprehension of the right wing, but it will prove to be true.

xxbossmanxx · #12 (**permalink**) 2nd May 2008, 10:56 PM

The non stop usa posts continue I see. You are seriously in love with the usa eh rubber? Want to talk resources? The state of alaska (one state) has 1000 times the resources your little dinghy of an island has.

What the hell does the UK do exactly besides sit around and talk about the usa all the time.

Change the name of this forum to rubber dicks 30,000 posts of negative usa economical outlooks and we got a brand new site!