More bad news: http://www.cato-at-liberty.org/2010/04/26/costly-irs-mandate-slipped-into-health-bill/ Lots more regulation, IRS activity, government forms and time wasting pointless effort? Dow 14K here we come!
The oil in the Gulf will be the largest disaster in history. It will likely become far worse with estimates of 100,000 barrels a day as the colapsed pipeline fully ruptures. This is equilavent to an exxon valdez sized spill every 2 days, for at least 90 days. Throw in a little thing called the Gulf Stream and an average hurricane season and it becomes a widespread disaster ruining coastline up to the Carolinas. The Mississippi Delta traffic will come to a halt as ships will need to be scrubed before moving up river. The biggest devastation will be to the fragile wetlands and some of the worlds most fertile fish and seafood waters. The Mississippi Flyway and Delta is the destination for hundreds of millions of migratory birds. The Gulfs beautiful beaches which is some of the worlds most valuable real estate won't be the same for years. Lastly, offshore drilling will come under harsh scrutiny and regulation causing less supply and much higher oil prices. This is a doomsday event of biblical proportions. Having said all that I see Dow 15,000 soon...
big deal except for shoe repairmen in Greece. let them march. maybe some people will meet their soul mates while marching.
I actually never realized how funny you are. With the dry wit comes a wet hurricane season so I predict dow 20k...
"This is a doomsday event of biblical proportions." I hope not, but what is the supply that OS drilling supplies to world output? I do see $100 oil soon, but US offshore drilling is <2% of world output. This is a drama deal...just like your Bible reference. It sucks, but quit your fear mongering. Earth has survived massive volcanoes, many ice ages (last went one down to South Carolina and we will have another one), asteroid's and comet's that wiped out a lot of species, hurricane's and tornado's. And if you think that man made disaster's can rival those u r wrong. Only all out world nuclear war will do that...W.O.P.R Saying all that, oil will go north of $100 and we all suffer. Th.e coastal region will be harshly impacted and it is a sad story Last I looked up at the sky today, was blue skies, beautiful weather here in Texas. Still waiting for the man made disaster's that will end us....My bet is that it will be a natural one if that....according to the Bible. Remember, the Lord gave us resources to live...livestock, food, O2, and fuel. We have to harvest it all.
You're probably right, I'll up my forecast to Dow 18,000 by Thanksgiving. That is provided we can get unemployment over 12-15% as the Gulf states get whacked because the deep water oil fix fails. By then 100 times more oil than the Valdez spilled will be devastating the Gulf waters. This will kill every industry down there but even worse the entire Gulf food chain. This is a plausible scenerio and Biblical in scope.