False..If it STAYS above $140 for a few weeks there will be a lot less jobs.. This economy can't afford $140 or $200 oil. People just couldnt afford a doubling of gasoline prices. WE have a consumer driven economy here in the USA & it would just take too much out.
Disagree. A few weeks? really? So, our economy is so shaky that an increase in $1.50 gasoline ($50-$100 per month) would kill the economy? Gasoline prices went up 400% over 5 years and we made adustments...now, you think a 30% increase in prices for a few weeks would have this type of effect? False.
http://en.wikipedia.org/wiki/File:Crude_oil_price_WTI_EIA_since_2000.svg 2003 to 2008 (5yr period) = 400% 2002 to 2008....over 600% At the time in Australia people just made shorter trips, holidays were closer to home. I sold my 25mpg car in Aug 2005 and bought a car that did 40mpg. We adapt. If you have a job then recessions are not bad, interest rates plummet, mortgage is cheaper, fuel prices drop, the 'cost of living' decreases, more money left over at the end of the month.
So now you change the argument to Gasoline & I ask for proof & you change it back to oil... Ok,i'll still play because you made my point for me.. I seem to recall something really bad happening to the economy around that time.. Do you recall that? What happened to oil when it jumped to $140? Didn't it fall rapidly to $40 because we couldn't afford it? BTW,I know why you didn't post a gasoline chart...
Crude and gasoline graph looks pretty similar to me. http://au.businessinsider.com/chart-of-the-day-us-all-grades-all-formulations-gas-price-2010-2 Maybe the oil refiners don't pass the cost of crude on. Didn't the U.S banksters crash the party?
Wow. Is that for real? $1.50 to $4 in just over 5 years. Australia's only went up about 50-60% over the same time frame. Maybe we have more fixed taxes which masks the impact of the oil price to some extent :/
In a paper published (PDF) in the Brookings Papers on Economic Activity on the contribution of oil price shocks to past U.S. recessions, James D. Hamilton finds that they slowed GDP growth significantly, often enough to tip the economy into a recession. Goldman Sachs estimates that just the oil price increase since December will shave between a quarter and a half of a percentage point off of real GDP growth over the next year, and the effects could be more dire if oil prices continue to rise. http://www.brookings.edu/research/opinions/2012/03/06-gas-prices-sawhill Lots of things contributed to the near collapse in 2008. Rising gas didn't exactly help people climb out of debt...I'm merely pointing out that IMO a worldwide economy at this time can't afford $200 oil. I think there would be an immediate impact on most industries & send stocks & commodities plunging.
Any real major threat to world supply could be the trigger for the price double to $200 per barrel. We don't want to invade a big oil producer like Iran then do we?
Absolutely.. You see,i'm the type person who won't give sh*t about a systematic indoctorination of a people hell bent on destroying my people. Their country,along with others,namely NK & Venezuela who won't have a civil war to fix their country have no respect in my eyes.. Irans leader has called for my people to be wiped off the face of the earth.. How should I respond?
No kidding. wow. Not only was someone just pointing out something he had NO clue about, but to kill an entire nation of innocent people with nuclear weapons. My thoughts exactly. Nothing else needs to be said. At least now I have a baseline of his "thought" process to gauge any future conversations with. Insanity.
I changed it from oil to gasoline? you asked for a link, and someone provided you with one. Get over it. The same can be said with oil, when it hovered around $30 and then shot up to nearly $150 (500%). do you need a link? Do your own research, I know I'm right. I, again, disagree with your opinion that the American economy can't handle a 30-40% increase in prices for a few weeks... Again, we did fairly well with an increase that was ten fold (percentage based) before. I guess we can always just nuke entire nations.
You don't. And, a big difference between "calling for it" by an insane person (NK/IRAN Leadership) and actually doing it...and being absolutely fine with it. That's what separates "us" from "them." Must be a southern-bible-belt-ultra-right-wing-conservative-kill-them-all-git-er-done thing... Ignorance.
As I said in another thread here: http://forums.silverstackers.com/topic-41294-mining-silver-costs-much-higher-than-most-realize.html It is NOT 30% - but rather 42%: Silver Mine Supply by Source Primary 30% Gold 12% Lead/Zinc 35% Copper 23% Source: GFMS World Silver Survey 2010 So the primary production is very relevant.
So you just add gold to silver to get 12% more added to primary miners based on what reason or theory?
