Are there signs of a recovery

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britinbe's picture
britinbe
Status: Gold Member (Offline)
Joined: Dec 28 2008
Posts: 381
Are there signs of a recovery

An interesting link from the BBC

http://news.bbc.co.uk/2/hi/business/8000062.stm

Clearly, many of the economists don't share the views of some of our leaders.....................

Vanityfox451's picture
Vanityfox451
Status: Diamond Member (Offline)
Joined: Dec 28 2008
Posts: 1636
Re: Are there signs of a recovery

Hi Britinbe,

In a nutshell, if (ifLaughing!!!) the stimulus package manages to climb the UK out of recession (depression?) by mid to late 2010, that should take it right on track for fuel prices to climb to astronomical values by the summer of 2011 and just ripe for a brand new global crash...

Rising currencies and deminishing oil through lack of investment stratergy caused by lack of credit equals fuel deficit equals new recession (depression?)

I've been re-reading James Howard Kunstler - The Long Emergency (yeah, I still haven't a copy of that George Monbiot book you advised me to read - Hungarian Book Shops...) and found a Wiki page on Saudi Arabian exports :-

http://en.wikipedia.org/wiki/File:SaudiArabiaNetExports.PNG

...that lovely red up-tick in 2003\4 was where they'd gotten pumping millions of barrels of sea-water into the wells to raise the oil extraction pressure back upto pre 2000 levels about right - see the decline steadily through to 2007? Thats the bit where they could only lift an extra 250,000 barrels up when the globe needed an extra 2 million back in July 2008. I keep thinking about Mat Simmons in the film, 'The End Of Suburbia' and his book, 'Twighlight In The Desert' when he states that when Saudi Arabia is officially in decline (currently bloody obvious), the lights are going to start going out around the globe.

Where you live I get the feeling your government is going to be fighting over its oil futures to gain control over its decreasing oil exports. I just have to wonder how they're going to maintain the existing currency they have and carry on the free trade market for food imports. Hungary will pop way before then and struggle on, with those wise enough and fast enough dropping the Forint in exchange for the Euro - we already have...

Hope all is well...

Best,

Paul

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