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1
EBGuy
2011 Jan 12, 9:05am
So, did oil production peak in 2005? Place your bets. The only reason I'm not totally fatalistic is because of the Barnett and Marcellus shale discoveries. My kids will now have to worry about Peak Methane (and their kids, Peak Coal?) I agree with ducky that the down slope on the peak oil graph ain't gonna be fun (have you bought a NG Crown Victoria yet?).
2
elliemae
2011 Jan 12, 9:16pm
elliemae
2011 Jan 12, 9:16pm
Jan 2009 I was working in a shit job I took because I was desperate. It was the worst job I've ever had - and that's saying alot. It's fun to see their business tank and know that it's because they're out of touch with reality.
I had time to reflect on some recent events and in particular where we were January 2009 and now. In my mind, January 2009 was the most uncertain period in my lifetime.
Why, for the first time in my life, I was fearful for my job as we were right in the middle of 12 million jobs lost in 18 months, banks were dying and so along with the economy. Equity with the exception of bonds and precious metals vanished. There was no buyer in housing and there was no one on the other end to lend. Companies, heathly and non-healthy were hunkering up and reducing budgets 10-20% across the board, non-essential business were closed or sold. housing dived and stores were liquidating. A truly scary moment.
Say what you want about the Stimulus, QE1, QE2, borrowing, extend and pretend, delayed forclosure or whatever, we had put the nighmarish scenerio behind us. Equity back to two year highs, banks are healthy and on the brink of business as usual. Amazing even the US auto industry have turn things around and set to have meaningful growth and hiring. The economy is set to add 2 million jobs in 2011 and those who were spared from the layoff role are set up for big time bonus and salary gains and job security until the next leg of the downcycle.
Those who were able to preserve their wealth and survived the events of 2008/2009 are set up for amazing gains the next 10 years. Those who were caught will inevitably fall behind even further. I hope must of you were able to stay in the first category. happy belated new year and may you have a healthy and prosperous 2011.
#housing