This is where Socialism will soon lead us if left unchecked.
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Crude Oil's $2 price decline today in spite of a 9.5mm draw in total commercial inventories does not engender confidence in the rally.
Nat Gas had a draw that was less than expected... considering the rally, I took some off the table. If it continues up, I will put it right back on the table.
The Mad Scientist beat me up about Oil given the issues in China... at first I was dismissive... but when you consider the Chinese are tightening up and their equity market (as of yesterday) was down 9 of the last 10 days... then today's decline... gotta keep your eye on the ball. The opportunity WILL come for a big move in crude.
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Tomorrow is the "The Print". Prices at tomorrow's close will be used to calculate the performance allocation of nearly all hedge funds. If Silver continues its march, then I am tin-foil-hat loonie... my bet is that once the print-day is past, the desire to support the price will evaporate... maybe not on January 3, but soon enough. Not feeling the Love for Gold, either.
Time will tell.
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Crude Oil's $2 price decline today in spite of a 9.5mm draw in total commercial inventories does not engender confidence in the rally.
Nat Gas had a draw that was less than expected... considering the rally, I took some off the table. If it continues up, I will put it right back on the table.
The Mad Scientist beat me up about Oil given the issues in China... at first I was dismissive... but when you consider the Chinese are tightening up and their equity market (as of yesterday) was down 9 of the last 10 days... then today's decline... gotta keep your eye on the ball. The opportunity WILL come for a big move in crude.
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Tomorrow is the "The Print". Prices at tomorrow's close will be used to calculate the performance allocation of nearly all hedge funds. If Silver continues its march, then I am tin-foil-hat loonie... my bet is that once the print-day is past, the desire to support the price will evaporate... maybe not on January 3, but soon enough. Not feeling the Love for Gold, either.
Time will tell.
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Physicians be warned. Remember "Jeffers' Media Theory"... no article makes its way on to the big News sites randomly. Every single article is planted by a very interested party. Several of these have been making the rounds... Healthcare practitioners have been over treating people for a long time... They are about to undergo a radical colonoscopy...
10 comments:
My latest issue (a compression of a nerve in the lower spine) resulted in 5 MRIs, one angiogram and one CT test. It would appear to me that the doctors are doing just about everything they can NOT to do surgery these days (there was a long line at the MRI desk the several days I went in for mine), as the MRI has made a lot of exploratory surgery unneeded. If an medical treatment is truly bad for people, it will be identified and corrected. These people ain't all idiots.
My wife works with ortho surgeons and the saying around the office is surgeons do surgery, pain doctors do pills and rehab (they see it because they are a one stop shop at 2 different hospital, have surgeons, rehab office, pain specialist, and Anesthetit on staff, plus others specialists that I don't know crap about). So next time you go to the ortho just remember that. They do what they are trained to do. Why would a surgeon recommend rehab if he spent the last 20 or 30 yrs doing surgery and thinks it is the best option? They don't see it as pushing a bad surgery, just doing their part to help.
As someone said, what can't continue, tends not to continue, and I suspect that future health care will tend to consist of far more basic care, with Nurse Practitioners and P.A.'s doing a lot of the front line work.
Regarding oil prices, I think that the Thirties case history is interesting. It appears that global demand only fell one year, in 1930, rising thereafter, and oil prices hit their low in the summer of 1931, rising at 11%/year from the summer of 1931 to the summer of 1937. And there were three million more cars on the road in the US in 1937 than in 1929. Today of course, China is to our current predicament as the US was to the Thirties, except of course that hundreds of millions of people worldwide now want to buy their first car.
In any case, following is my contribution to the ASPO-USA predictions for 2011:
http://www.energybulletin.net/stories/2010-12-27/predictions-2011
No matter what specific years that one picks as the starting and ending points, the period from the late Nineties to the end of this decade was characterized by a double-digit average long-term rate of increase in average annual oil prices. For example, from 1998 to 2008 the average rate of increase in US spot crude oil prices was about 20 percent per year. However, what I find interesting is the progression in three year-over-year annual price declines in the 1997 to 2009 time period: down to $14 in 1998, down to $26 in 2001 and down to $62 in 2009. Note that each successive year-over-year price decline was to a level that was about twice the level reached during the prior decline. If this pattern holds, the next year-over-year price decline would bring us down to an average annual oil price of about $120, in the context of a long-term average double-digit rate of increase in annual oil prices, which is what we are seeing in 2010, versus 2009.
– Jeffrey J. Brown, independent petroleum geologist
Big news of the Day
Israel confirms a 120 trillion cubic feet NG field with 16 trillion being exploitable. Iran, Israel’s arch-nemesis and Hezbollah’s chief backer, has also weighed in. Tehran’s ambassador to Lebanon, Qazanfar Roknabadi, last month claimed that three-quarters of the Leviathan field actually belongs to Lebanon. Isreal says that is nice, go pound sand cuz we will enforce our mineral rights with military might.
Unions show their class in New York by slowing plowing to protest cuts leading to deaths of 2 people. Might be charged in state court. They show what a bunch of classless losers they are.
Best part is Isreal might raise royalty rates which are relatively low to get more revenue. In the bizzaro world we live in the state department and Bill CLintion are lobbying to keep them low on behalf of US oil companies. So lets get this straight the dems are coming out against a oil taxes, weird!!!
Regarding Khodorofsky ...
http://counterpunch.org/whitney12312010.html
Regarding NY plowing, etc...
Last week's snow storm here in MA left about 45K people without power for a day or so, mainly on Cape Cod (where it was more of a rain and wind storm, actually.) Oh my! You all should here the wails and cries for "investigations" of National Grid's response or lack thereof, to the power outages! Our attorney general, Martha Coakley, is spearheading the investigation. Never mind we had a police officer shot to death in a robbery attempt during the storm - shot by a loser our state parole board mindlessly released in the past year a guy with very poor conduct, if nothing else, while incarcerated.)
This utility outage is being billed as "unacceptable" by the government, media, and a punch of whiner utility customers. This cry is getting more and more familiar every year. Two years ago there was much said about a smaller utility in central MA, after a snow and ice storm there, with much talk of penalties for the utility, municipal and state take over, etc.
Snow plowing and utilities have come to be seen as some inalienable right by the people, the delivery of which is to NEVER be interrupted, no matter how bad the weather, no matter what the $$$ cost.
Up here right now, snow is the bogeyman, but my bet is many in the US will not handle the increasing infrastructure failures by any means of the definition of "well" whatsoever, no matter whether the power goes out because of snow, hurricane or whether the road is impassable because of snow and ice, or because the bridge supports have crumbled dangerously with no $$$ left for repairs.
This is no news to anybody here I know. I offer it more as an anecdote on the continuing way to a higher level of social and infrastructure poverty that is continuing to come our way.
Poor writing on my part....
My point about the police officer shot during the storm is that our attorney general isn't investigating anything about the corrupt parole board, but rather is going after the utility that had the misfortune of allowing the power to go out in a storm.
Where is the utopia.
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