And these are the guys to "save" the economy...?

Approximately June 2008, Bernanke on oil prices:

"Our best judgment is that this surge in prices has been driven
predominantly by strong growth in underlying demand and tight supply
conditions in global oil markets."

Paulson, mid-May 2008:

"Again, I don't think this is about financial investors, I think this is
about long-term supply and demand."

Does anyone - I mean _ANYONE_ - now actually think that supply and
demand is responsible for oil prices?

And no, this isn't a GOP- or Dem-only thing. Given the votes on the
things that led up to this, the Dems are equally responsible, and no,
Phil Gramm didn't write the legislation that caused it all. And a big
"NO!" to the idea that Obama has a better understanding of it, or is a
better choice to fix it, than McCain. The fix is something neither will
do: let 'em crash and burn - the speculators, the "investors," the
overextended home buyers, etc., and salvage from the wreckage...those
who acted prudently will easily survive, even prosper, those that
didn't, well, tough ****...

Sheesh,
R
....readers with objective memories might recall discussions about this
earlier this year...

wrote:
...
Does anyone - I mean _ANYONE_ - now actually think that supply and
demand is responsible for oil prices? ...

Yeah, of course they do. George Soros believes there are four major
factors at play and two of them are fundamental and related to supply
and demand.

http://www.nybooks.com/articles/21792

--
Ken Fortenberry

On Wed, 24 Sep 2008 09:43:56 -0500, Ken Fortenberry
wrote:

wrote:
...
Does anyone - I mean _ANYONE_ - now actually think that supply and
demand is responsible for oil prices? ...

Yeah, of course they do. George Soros believes there are four major
factors at play and two of them are fundamental and related to supply
and demand.

http://www.nybooks.com/articles/21792

Some of what he says makes sense, but some does not and/or his
interpretation of the issues is wrong and/or, put bluntly, he's lying. I
suspect the latter, but ??? During the run-up in oil from 20USD BBL to
150ish BBL, supply basically met demand. But the most important aspect
is that with the commoditization of oil (a relatively recent thing -
NYMEX in 1983), true supply and demand is almost factored out and the
protections afforded to both producers and buyers/users in a
"traditional" futures market are subject to exactly what they have been
subjected - high-risk speculation. On top of that, it allows a small
segment of the market, which in many cases has no interest whatsoever in
the actual underlying commodity, to set the market price. And on top of
all that, the actual price paid by the consumers/delivery acceptors of
the crude (refiners, governments, etc.) isn't necessarily the "market
price" because of several factors, including Saudi Aramco pricing.

http://www.gulfnews.com/Business/Oil.../10226899.html

IAC, I'd be VERY careful taking anything Soros says publicly as what he
actually thinks, because Soros is clearly in it for Soros and using
Soros to defend or deflect criticism of speculators is sorta like using
Bill Gates to defend Microsoft...

HTH,
R

wrote in message
news
...I'd be VERY careful taking anything Soros says publicly as what he
actually thinks, because Soros is clearly in it for Soros and using
Soros to defend or deflect criticism of speculators is sorta like using
Bill Gates to defend Microsoft...

Sort of reminds me of......of......of......hm.....who would that be?

Moron.

Wolfgang

wrote:
Ken Fortenberry wrote:
wrote:
...
Does anyone - I mean _ANYONE_ - now actually think that supply and
demand is responsible for oil prices? ...
Yeah, of course they do. George Soros believes there are four major
factors at play and two of them are fundamental and related to supply
and demand.

http://www.nybooks.com/articles/21792

Some of what he says makes sense, but some does not and/or his
interpretation of the issues is wrong and/or, put bluntly, he's lying.

"Put bluntly, he's lying" is that the title of a comedy album ?

I don't want to assume anything before asking you just what in
the hell you mean by that.

--
Ken Fortenberry

On Wed, 24 Sep 2008 11:40:34 -0500, Ken Fortenberry
wrote:

wrote:
Ken Fortenberry wrote:
wrote:
...
Does anyone - I mean _ANYONE_ - now actually think that supply and
demand is responsible for oil prices? ...
Yeah, of course they do. George Soros believes there are four major
factors at play and two of them are fundamental and related to supply
and demand.

http://www.nybooks.com/articles/21792

Some of what he says makes sense, but some does not and/or his
interpretation of the issues is wrong and/or, put bluntly, he's lying.

"Put bluntly, he's lying" is that the title of a comedy album ?

I don't want to assume anything before asking you just what in
the hell you mean by that.

It's code for "I have pictures of Ken wearing a 'Bill Belachick for
Prez!!' t-shirt while drinking Coors at Fawn Lake"...

HTH,
R
....and audio tape of Ken arguing that Bill is the only honest man in
professional sports...

"Ken Fortenberry" wrote in message
...
wrote:
... Does anyone - I mean _ANYONE_ - now actually think that supply and
demand is responsible for oil prices? ...

Yeah, of course they do. George Soros believes there are four major
factors at play and two of them are fundamental and related to supply
and demand.

http://www.nybooks.com/articles/21792

--
Ken Fortenberry

Oh, yes Soro's knows about speculation and market manipulation! He made his
billions just that way. Almost bankrupted the Bank of England.

http://www.bbc.co.uk/blogs/ni/panic_peak_oil.jpg

HTH,

Jon.