Posted by
theoilpatchplug on Wednesday, March 12, 2008 3:04:37 PM
I believed that $100 oil would be a short blip on the economic radar, but I was wrong. I based my opinion on the fact that God has blessed us with an almost infinite supply of Oil and Gas in the world. Until recently the oil markets were self correcting. I really believe we are not dealing with $100 oil prices as much as we are dealing with 20 cent dollars.
If you think $100 oil is bad for your budget, wait for the next round of hyperinflation that’s just around the corner; 10 milk, $6 bread, $20 wheat, $15 corn, $2000 electric bills will soon be added to $5 gasoline in the pain of the American pocketbook. Will 20% interest rates be used to try to stop the plunge of the dollar?
Oil just seems to be an inflation hedge, like gold.
The Middle East and Russia is awash in greenbacks, almost worthless greenbacks. This may make 1973 look like a stroll in the park.
At this critical point in our country we have 3 candidates that have bought into the global warming hoax and all plan to make things much worse in the name of saving the planet.
All I can say is I'm sorry and hope you take the necessary precautions to protect your wealth and your family.