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(CNN)   China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies. This GOP scheme is going to tank the dollar as the world reserve currency   ( money.cnn.com) divider line
    More: Interesting, United States, Saudi Arabia, Japan, Singapore, Americanize, action alert, Christine Lagarde, reserve currency  
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6875 clicks; posted to Main » on 14 Oct 2013 at 9:16 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-14 05:25:51 PM  

Thunderpipes: jst3p: Thunderpipes: jst3p: Thunderpipes: Just increase the credit card limit, again. Brilliant.

Bad analogy is bad.

Correct analogy is correct.

Not sure why libs don't understand basic finance.

The fact that you think an economy as large as ours is "basic finance" speaks volumes about your ignorance.

We take in a certain amount. We spend more than that every year. We pay debts with credit. Interest gets more and more each year, we need credit increases.

Nope, libs are just wrong, as usual. It is exactly like a credit card. Libs are dumb, they have no argument, so they insult me. No problem. At least I have a brain, unlike the sheeple.


i.qkme.me
 
2013-10-14 05:27:33 PM  

Thunderpipes: We take in a certain amount. We spend more than that every year. We pay debts with credit. Interest gets more and more each year, we need credit increases.

Nope, libs are just wrong, as usual.


Yep, look at that interest sky-rocket. Stupid libs.

research.stlouisfed.org
 
2013-10-14 05:31:54 PM  
A little scary to think the "fix" is to keep increasing the debt ad infinitum. Keep blowing the bubble bigger, it'll surely never break?

/not an economist, so who knows
 
2013-10-14 05:33:59 PM  

Nick Nostril: A little scary to think the "fix" is to keep increasing the debt ad infinitum


That's not what the debt limit does.
 
2013-10-14 05:38:08 PM  
Problem is "we the people" are too stupid, fat, and lazy to do anything about these idiots in Congress. We just keep voting for them and watching our sports or reality TV or playing our computer games.

/crap, I got Twinkie all over my keyboard
//I'll have the dog lick it off
 
2013-10-14 05:51:05 PM  

LavenderWolf: I don't like Democrats.


But you seem to think that we need to replicate exactly what they did before?  Sure thing, fanboy.

You may pretend to be a 'independent democrat' but you were caught with your hand in the cookie jar too many times for me to really belive it.  If you really didn't like democrats, you wouldn't be longing for the days of Clinton.
 
2013-10-14 05:51:24 PM  

itsaidwhat: Deflation is different. That's when it's good to owe money - especially if you are holding hard sellable assets. If you are only holding cash - that's bad.


Why is it bad to be holding cash when the purchasing power of that cash goes up?
 
2013-10-14 05:55:09 PM  

flondrix: Speaker2Animals: Paying off loans early gives the money back to the back to lend to someone else. We did this when we re-fi'd on our last house and since we were never late with a payment, the same bank was waiting with open arms when we wanted to do the same deal on our new house.

Some banks don't see it that way, for some reason.

If you think about it, it's really no different than getting a mortgage paid off early because of selling the house.

I've always wondered how the banks that don't let you pay off the mortgage early deal with people who sell their houses before the mortgage is paid up.


Dunno -- but I've never even seen a mortgage contract with an early payoff penalty, and I've now had about 10 mortgages, counting refinancings.
 
2013-10-14 05:56:15 PM  

impaler: Yep, look at that interest sky-rocket. Stupid libs.


I think that he means the interest we pay on the National Debt.
 
2013-10-14 06:04:24 PM  
And for those wondering how to fix the economy, simple, get incomes growing again. Thirty years of stagnation is quite enough.
 
2013-10-14 06:05:01 PM  

wooden_badger: edmo: what_now: I came in here to joke about how some people are probably stupid enough to think this would be a good thing, because they don't understand how economics work and just want to stick it to the furriners, and then I saw this:

dittybopper: China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies.

So, you're saying that there would be some positive effects, then.

Congress has aptly demonstrated time and again they don't understand economics or finance and they're proud of it. The right wing circus media encourages their followers to remain ignorant and ignore any other view as "liberal propaganda," and they do so blissfully.

/you stupid Koch brothers are going to lose a ton on this one.

The Koch brothers were willing to spend hundreds of millions to buy the last election.  If causing a world economic crash allows them to come in and pick up the pieces, even if they lose half their wealth, it's a win to them.


Neo-Feudalism, yay!

/They don't have to be as filthy rich as they are now
//Just richer than anyone else.
 
2013-10-14 06:09:34 PM  

HeadLever: impaler: Yep, look at that interest sky-rocket. Stupid libs.

I think that he means the interest we pay on the National Debt.


Even that's not going up every year.

research.stlouisfed.org

Especially if you look at it in percentage of
payments inflation adjusted
payments/revenue
payments/gdp

research.stlouisfed.org
research.stlouisfed.org
research.stlouisfed.org

I know this doesn't fit well with the GOP doom and gloom prophecies, but there it is.
 
2013-10-14 06:18:29 PM  

impaler: Even that's not going up every year.


I agree, as it has flucturate some with the interest rates dropping to historical levels.  However, the problem with that is that they are poised to bounce in a big way with our great increase in Debt and the fact that interest rates can only stay the same or go up.

You can see this issue on that graph I posted earlier (about 1/2 way to the top of this thread).  It is the gap between Total Spending and the sum of all the other programs and it becomes one of the biggest spending items we have in about 20 years or so.
 
2013-10-14 06:24:04 PM  

PunGent: I recommend you re-take Civics 101. "Refusing to do your job", ie, pass a budget, isn't the same as "being conquered"...it's just refusing to do your job. And the House Republicans are even being PAID for not doing any work.

Hmm, they sound like welfare queens...


ummm, the house did pass several budgets... the senate and potus refused to sign off on them.
who isn't doing their job?
 
2013-10-14 06:37:17 PM  
"Sorry you foreigners. We're too busy pledgin' and Patrotin' to hear you."
www.washingtonpost.com
 
2013-10-14 06:37:49 PM  

HeadLever: You may pretend to be a 'independent democrat' but you were caught with your hand in the cookie jar too many times for me to really belive it. If you really didn't like democrats, you wouldn't be longing for the days of Clinton.


Yeah, right, and I keep meeting guys who claim to be "libertarians" or "fiscal conservatives" but they mimic all the positions of the religious right, right down to supporting faith based initiatives and hating the gays.
 
2013-10-14 06:38:37 PM  

AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.


Assholes? You're far too lenient.
 
2013-10-14 06:39:45 PM  

WhyteRaven74: And for those wondering how to fix the economy, simple, get incomes growing again. Thirty years of stagnation is quite enough.


Incomes have been growing.  Not the incomes of anyone you know, but the incomes of the 1% of people who actually matter.
 
2013-10-14 06:44:15 PM  

Misconduc: Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.


Hey, you never know when you might need therapy for gender identity syndrome and you'll be glad Obama put it into your healthcare plan for you.

jst3p: The GoP pushed for the former (Medicare Part D and two unfunded wars while cutting taxes)


Thats why the Democrats voted against the wars in Iraq and Afghanistan right?  Good God, I'm sick of this high and mighty "Bush's wars" shiat.  2/3 of the democrats in the Senate voted for the Bush Tax cuts, Voted for the Iraq Wars and the Patriot act.  If Democrats hated Bush so much, they shouldn't have voted for his policies.

LavenderWolf: Through the same methods that worked the last time we had a Democratic president. The math just has bigger numbers.


Well the last time we had a balanced budget, we didn't have Obamacare, expanded medicare or 2 wars, so cutting both of those out would be a great place to start.

Some 'Splainin' To Do: The founding fathers were sure sloppy in not putting in any sort of checks or balances that would allow something like that to happen.


The founding fathers would probably set fire to congress and biach-slap everyone in the 10x10mi square on the potomac for letting the national debt escalate to $17TN  Furthermore, they'd also be surprised at how high of a percentage of the population is immediately affected by this shutdown.  In their day, Congress convened and then let out and by in large, people lived their lives governed by the rules of their states and counties.  The Federal government was there to provide common defense, a business climate where states couldn't tariff one another and other things such as uniform currency and patent law.  Their position on obamaphone lady is that she should sell her labor to someone who values it and use that money to purchase a phone if she needs one.

WhyteRaven74: And for those wondering how to fix the economy, simple, get incomes growing again. Thirty years of stagnation is quite enough.


6 years of Stimulus has done what, exactly to the unemployment rate?  8.1% to 7.7%?  PAR-TAY!
 
2013-10-14 06:49:19 PM  

GanjSmokr: Drake Maijstral: GanjSmokr: Meh.  This debt ceiling thing is like the boy who cried wolf... we've seen this go down to the wire before.  It's political theater, just like most of the other shiat they do.

As the saying here goes, "Wake me when..." we actually default.  Then I'll pay attention and worry again.

Plan to wake up two days from now, then.

Just MHO, but if you really think this is going to happen without them finding a zero-hour "compromise", you haven't been paying attention.

If I'm wrong and they actually let it go past that point, I'll be happy to publicly admit I was wrong.  I'm pretty confident it won't come to that.


We were pretty confident the GOP wouldn't force a shutdown.  They proved us wrong.
We were pretty confident the GOP wouldn't let a shutdown last two weeks.  They again proved us wrong.
At this point, I'm no longer confident about anything the GOP does.  The GOP has managed to hurt themselves badly, and yet they're still forging ahead.  Bohner has lost control of his party to the TPers.

We're in uncharted territory here.  Anything can happen.  At this point, I'm betting on the following:
* The shutdown has lasted this long, so the Dems have little benefit in agreeing to any legislation the GOP proposes to resolve the shutdown until the 11th hour.  They may as well let the GOP embarrass themselves to the bitter end.
 * Once the Dems are ready to agree to a budget, whether the GOP still wishes to present something the Dems will agree to is dependent on whether Bohner has wrestled control of his party back from the TPers.  At this point, it would hardly surprise me if we slid into default, given the personalities, egos - and yes, let's not forget sheer stupidity - involved in this whole mess.
 
2013-10-14 06:51:37 PM  

o5iiawah: In their day, Congress convened and then let out and by in large, people lived their lives governed by the rules of their states and counties.


And a whole bunch of people were the property of a wealthy few--yet still counted 3/5 towards the representation of the states they lived in.
 
2013-10-14 06:58:34 PM  

flondrix: And a whole bunch of people were the property of a wealthy few--yet still counted 3/5 towards the representation of the states they lived in.


electricity didn't exist either.  What is your point?
 
2013-10-14 07:03:17 PM  

o5iiawah: Some 'Splainin' To Do: The founding fathers were sure sloppy in not putting in any sort of checks or balances that would allow something like that to happen.

The founding fathers would probably set fire to congress and biach-slap everyone in the 10x10mi square on the potomac for letting the national debt escalate to $17TN Furthermore, they'd also be surprised at how high of a percentage of the population is immediately affected by this shutdown. In their day, Congress convened and then let out and by in large, people lived their lives governed by the rules of their states and counties.


So your arguments have official been reduced to speculating (or rather asserting) that the founding fathers would have had a given set of opinions about the current situation.

Okay, thread's done, everyone. o5iiawah can read the minds of the dead.
 
2013-10-14 07:32:42 PM  

Peter von Nostrand: The TP wants us to default. Are there really people that haven't figured this out yet?

Any Democrat in front of a microphone since Bachmann said they got what they wanted and are excited should have repeated that line over and over


We are not going to default... we have plenty of money to pay our debts... typical Democrat scare tactic...
 
2013-10-14 07:34:27 PM  

sethen320: I think those are actually "operators". "Operands" refers to the variables in use.

I'm pretty sure anyway.


And you would be correct. I was typing in a hurry.
 
2013-10-14 07:34:37 PM  
0/0

"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man."

George Bernard Shaw


itsaidwhat


faqsmedia.ign.com
 
2013-10-14 07:47:22 PM  

The_Original_Roxtar: PunGent: I recommend you re-take Civics 101. "Refusing to do your job", ie, pass a budget, isn't the same as "being conquered"...it's just refusing to do your job. And the House Republicans are even being PAID for not doing any work.

Hmm, they sound like welfare queens...

ummm, the house did pass several budgets... the senate and potus refused to sign off on them.
who isn't doing their job?


Yeah...writing something in crayon and saying "pass it or else, plus no girls allowed" isn't really a passing grade amongst us adults.  "Passing" legislation you KNOW isn't going anywhere is childish...they might as well pass laws outlawing the moon.
 
2013-10-14 07:49:42 PM  

OlderGuy: Peter von Nostrand: The TP wants us to default. Are there really people that haven't figured this out yet?

Any Democrat in front of a microphone since Bachmann said they got what they wanted and are excited should have repeated that line over and over

We are not going to default... we have plenty of money to pay our debts... typical Democrat scare tactic...


Yes, because no entity ever has ever defaulted on a debt it had the ability to pay...

/hell, half my legal practice in my early years was based on suing people who didn't pay what they owed...wouldn't have been much point if they hadn't had the money.
 
2013-10-14 07:58:16 PM  

itsaidwhat: CleanAndPure: HotIgneous Intruder: Fark_Guy_Rob: I owe hundreds of thousands of dollars in debt at ridiculous interest rates.  Much of it is immune from bankruptcy (yay - education bubble!).

Bring on the inflation.  When a loaf of bread costs 100 dollars and my annual salary is 500,000k - my debts will be a drop in the bucket.

Good plan, but I suspect interest rates will go up to match the inflation.

They certainly will...

However for many people the majority of their debt is their fixed rate mortgage.

If we have 1000% inflation...I will still be paying 3% something interest.

Typically inflation hurts the rich but is beneficial to the majority of people... that's why politicians hate it.

Yes. Inflation hurts businesses that need cash for growth. (Take note of the billions that companies like Apple, Johnson & Johnson, etc have squirreled away to insulate their cash hungry research programs from inflation.) Old people complain about inflation because "a tomato use to cost a nickel" but actually, old people have cash. And when inflation comes, cash is king. It makes selling a house difficult because their are fewer folks qualified for financing, which also keeps prices down.

Deflation is different. That's when it's good to owe money - especially if you are holding hard sellable assets. If you are only holding cash - that's bad. Gold doesn't help either. No one is eating gold. Lead is the trump commodity under deflation conditions - you can get anything you need with bullets. (That's why they have become a scarce commodity under this administration.)


Oh.  You're one of those.

Yeah, we've got the highest gun ownership rate on the planet, and you're worried Obama is stealing yours.

/pro-gun
//anti-idiot
 
2013-10-14 08:04:22 PM  

PunGent: MugzyBrown: Failing to lift the debt ceiling does not mean we default unless the president forces us to.

Yes, because he keeps the national checkbook in his desk in the White House...


yep, it has kitties on it.

i.imgur.com
 
2013-10-14 08:09:44 PM  

AeAe: The farking GOP, man. Bunch of assholes.


Conservative voters are the farking assholes.

Seriously, Democratic politicians are just about as craven, loony, and corrupt, but at least liberal voters keep them on a shorter leash. When Democrats start being dicks, liberals skip going to the pols on election day, and stop making donations. Democratic Pols biatch all the time that liberals are 'unreliable', when really their fed up with your quisling bullshiat.  Libertarian and Conservatives always vote, and vote Republican no matter what. So Republican politicians think nothing of screwing over the nitwits that vote for them.

Republican: Vote for me I'll lower your taxes and make abortion illegal.
Tard Voter: votes.
Republican: Cuts capital gains taxes, school funding, and lets out sweetheart no bid government contracts to associates.
 
2013-10-14 08:54:56 PM  

PunGent: The_Original_Roxtar: PunGent: I recommend you re-take Civics 101. "Refusing to do your job", ie, pass a budget, isn't the same as "being conquered"...it's just refusing to do your job. And the House Republicans are even being PAID for not doing any work.

Hmm, they sound like welfare queens...

ummm, the house did pass several budgets... the senate and potus refused to sign off on them.
who isn't doing their job?

Yeah...writing something in crayon and saying "pass it or else, plus no girls allowed" isn't really a passing grade amongst us adults.  "Passing" legislation you KNOW isn't going anywhere is childish...they might as well pass laws outlawing the moon.


are you somehow ignorant about the way the legislature works? a bill needs a certain percentage of the vote to pass in the house... and it has, several times.
saying "the house isn't passing a budget! it's their fault!" is flatly and demonstrably incorrect. the house isn't passing the budget YOU WANT them to pass.
 
2013-10-14 09:19:11 PM  

flondrix: but they mimic all the positions of the religious right,


Is that me, or are you just pulling stuff out of your butt to justify your position?
 
2013-10-14 10:20:36 PM  
this is the end result of a george w. bush presidency.
preceded by a clinton presidency.
preceded by a bush presidency.
preceded by a potato.
 
2013-10-14 11:11:47 PM  
The_Original_Roxtar:
are you somehow ignorant about the way the legislature works? a bill needs a certain percentage of the vote to pass in the house... and it has, several times.
saying "the house isn't passing a budget! it's their fault!" is flatly and demonstrably incorrect. the house isn't passing the budget YOU WANT them to pass.


The House is passing a budget that they know will not pass the Senate and that Obama has already said he will veto. Conventional wisdom is that a "clean" spending bill would pass if Boehner would allow it to come to a vote.
 
2013-10-14 11:31:03 PM  

HeadLever: flondrix: but they mimic all the positions of the religious right,

Is that me,


I dunno, are you a libertarian I work with or a libertarian I used to work for?
 
2013-10-14 11:51:19 PM  

flondrix: I dunno, are you a libertarian I work with or a libertarian I used to work for?


probably not.  if this argument is based on your ancedotal experiences with a coworker, it is really irrelevant to my point.

So basically you were just pulling information out of your butt to justify your argument that had nothing to do with my point
 
2013-10-15 12:16:50 AM  
China to US: You don't laise the debt ceiring, you don't get cheap Chlistmas plesents!!!
Japan to US: No laise debt ceiring, no PS4!!!
Saudi Arabia to US: We already have enough of your money, but OPEC is switching to Renminbi per barrel.
Germany to US: Remembah za Führer?
Singapore to US: meh
 
2013-10-15 01:18:47 AM  

Bit'O'Gristle: I'm no economist, but isn't our dollar value based and backed up by the gold in fort knox? Or am i mistaken.  Anyone?


Hasn't been backed by gold for a long time (at least 40 years). We went from gold to silver... to now what is called "fiat money"

/full history here.
 
2013-10-15 03:38:22 AM  

Slaxl: Misconduc: Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.

It's no longer about obamacare. It's your economic future. You cannot possibly think destroying your economy and angering the entire world is worth getting rid of Obamacare, can you?


Jesus Farking Christ.  I side with you on this, but don't you comprehend that the Democrats are just as guilty of this brinksmanship as the Republicans are (I know you, Slaxl, didn't specifically blame the R's, though I figure you would - this was to everyone)?  This isn't something that snuck up on anyone in politics.  Just the same as there was a bit of a budget crisis last year, everyone has known this would happen for months now. 

If it can't pass Congress, then clearly you don't have enough of a majority behind you to get this shiat passed.  That's how it's supposed to work.

I'd rather have nationalized healthcare, but clearly we aren't ready for it.  Blame the Republicans on this one, get another Democrat elected next time and more D's in Congress, and maybe it'll work a few years from now.
 
2013-10-15 03:48:10 AM  

Director_Mr: If you are blaming one side any more than the other you aren't paying attention.


But dont step on their mojo.  Blaming the other side is as much passtime as rooting for your favorite teams.  Politicans have degenerated to being players on the team you root for.  No matter how wrong Jay Cutler is, Bear fans will defend him against Packer fans.

/ I want a Nancy Pelosi rookie card.  What is that, 1948 Bowman?
 
2013-10-15 08:49:40 AM  

The_Original_Roxtar: PunGent: The_Original_Roxtar: PunGent: I recommend you re-take Civics 101. "Refusing to do your job", ie, pass a budget, isn't the same as "being conquered"...it's just refusing to do your job. And the House Republicans are even being PAID for not doing any work.

Hmm, they sound like welfare queens...

ummm, the house did pass several budgets... the senate and potus refused to sign off on them.
who isn't doing their job?

Yeah...writing something in crayon and saying "pass it or else, plus no girls allowed" isn't really a passing grade amongst us adults.  "Passing" legislation you KNOW isn't going anywhere is childish...they might as well pass laws outlawing the moon.

are you somehow ignorant about the way the legislature works? a bill needs a certain percentage of the vote to pass in the house... and it has, several times.
saying "the house isn't passing a budget! it's their fault!" is flatly and demonstrably incorrect. the house isn't passing the budget YOU WANT them to pass.


Rofl...you don't know me, and you don't know what I "want".  I'm actually OPPOSED to Obamacare (and Romneycare here in Mass).  I think the Supreme Court was wrong, and it's flat-out un-Constitutional, even if it will do all the things supporters say it will.

But that doesn't change the fact that the House Republicans are "passing" a budget they KNOW can't make it out of the Senate.

It's like passing a law outlawing terrorism...which is already illegal.  At best, it's grandstanding.  At worst, it's plain irresponsible, because ignorant folks will actually think they're doing something about the problem.

We still live in a republic, last I checked:  Republicans want FULL control of the process, they better win the Senate and the Presidency.

Of course, we got gigantic spending the last time that happened, so I won't be voting for them.
You do what you like, though.

The Republican's REAL problem here is they can't decide if this is a good thing or not.
Half of them are like Michelle Bachman; proud of shutting down the government.

The other half are too cowardly to take responsibility for their actions, and are blaming Reid and Obama.

Nothing will change until they make up their minds, one way or the other.  Can't have it both ways...that's childish.
 
2013-10-15 09:34:35 AM  
Talk about buried under a pile of bullshiat...
Oh, SNAP, this post!

Not a single cogent commentary above or below me.

Obamacare:  Illegal under states laws because it doesn't allow for a limit of liability or a bond - like car insurance.
Debt ceiling: If we're in debt and we haven't paid it, we've already defaulted on debt.
Political parties: illegal.
"Obamacare is a tax":   If I pay you to slap me, is that a tax?  No.  No representation by elected officials.

The senate is supposed to represent the STATES wishes, IE THE farkING GOVERNMENTS OF THE STATES not some political party's ideas.  The Senate is forfeit.
 
2013-10-15 11:20:08 AM  

prjindigo: Talk about buried under a pile of bullshiat...
Oh, SNAP, this post!
Not a single cogent commentary above or below me.
Obamacare:  Illegal under states laws because it doesn't allow for a limit of liability or a bond - like car insurance.
Debt ceiling: If we're in debt and we haven't paid it, we've already defaulted on debt.
Political parties: illegal.
"Obamacare is a tax":   If I pay you to slap me, is that a tax?  No.  No representation by elected officials.
The senate is supposed to represent the STATES wishes, IE THE farkING GOVERNMENTS OF THE STATES not some political party's ideas.  The Senate is forfeit.


1864 called and left a message for you:
You're an incoherent dumbass.
Planning on taking up arms against the United States?
Expect to be a well-ventilated dumbass.
 
2013-10-15 12:04:23 PM  

ReverendJynxed: snocone: jst3p: DubtodaIll: jst3p: DubtodaIll: jst3p: DubtodaIll: The 2012 U.S. GDP was 15.68 trillion.  Total Direct Federal Revenue was 5.12 trillion.  Total Requested Federal Budget was 2.6 trillion.  Current federal debt is 16.7 trillion with exclusions, 62 trillion without exclusions.  And this isn't something we need to fix now?

U.S. refineries are expanding their diesel-production capacity, not so much for truckers in the U.S., but for drivers in places such as Mexico City and Santiago, Chile.
Already running at their highest levels in six years, U.S. refineries are finding strong demand for diesel fuel, used widely in cars outside of the United States, and other distillates, like jet fuel.
"All these companies are expanding their export terminals-Valero, Shell, Marathon Petroleum, all of them," said Fadel Gheit, senior energy analyst at Oppenheimer. "Any companies with refining assets on the Gulf Coast are expanding their export terminals. ...The profitability is not that clear, but the trend is very clear."
The U.S. became a net exporter of petroleum products just two years ago and is now the largest exporter in the world.

Somehow, I have the feeling that we will do OKY DOKEY.
Actually the world oil price/production is tied to The Dollar.
Since oil is kinda important, one should wonder,,,

$50 a gallon. Be ready. The Dollar is going the way of the Peso.


Adios Amigo, it was good to know you when 20c bought a gallon.
I remember when gas flew over $1/gallon. None of the pumps were built to charge it, so they just doubled the shown price for a year or so.
That would be right around the S&L Bankjob.
Not at all a lot different than the past 5 years.
 
2013-10-15 12:06:35 PM  
Here, I don't think you met my elephant, The U.S. became a net exporter of petroleum products just two years ago and is now the largest exporter in the world.
 
2013-10-15 12:08:20 PM  
Anybody at all remember just a few years ago when "Peak Oil" and "Energy Independence" was the battle cry?
 
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