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  • Maybe I Spoke Too Soon

    Posted by Jonathan on July 27th, 2004 (All posts by )

    Here’s what I wrote June 10 about oil prices.

    Here’s how the market looks now.

    Time will tell.

     

    3 Responses to “Maybe I Spoke Too Soon”

    1. In-Cog-Nito Says:

      Ha, that’s nothing. Look at AMZN and BEAS, down big from where I called it. Glad I’m out of those…

    2. Rahul Says:

      I think Robert Schwartz has it absolutely correct in the linked post. I think current oil prices are more indicative of US dollar inflation, a logical outcome of the Fed’s incredible money supply boost over the last couple years. We saw inflation in real estate, and now we’re seeing it in oil (which OPEC only prices in dollars). This will probably end up distributing inflation to most commodities.

      Its amazing that the Fed can distort the economy to such an extent and be praised for it too.

    3. Jonathan Says:

      I agree that the Fed is a chronic problem. However, inflation as an explanation for high oil prices would seem more likely if gold were also near a high. Supply/demand seems like a better explanation for oil.