PS I know, I know, markets fell yesterday, but they're still historically high. Surely they are 20 per cent overvalued in the lights of the present conditions.
Thursday, November 08, 2007
Ponder Post 16: What's Happening?
It feels good being able to buy Philadelphia with the coins that slipped under the seats in my truck, though, of course, I can't afford acually to move the truck now that oil is almost $100 a barrel and rapidly running out. (Incidentally, that last link contains a forecast from 'IEA officials' that oil could hit $159 a barrel by 2030. Really? Why not $158 or $562? I love forecasts that indicate nothing but the complete ignorance of the forecaster. Oh and, by the way, since oil is denominated in dollars and the dollar is falling like a stone, shouldn't this offset the upward pressure on petrol prices? Apparently not. Perhaps the dumb oil companies have too many dollars.) Anyway, the reason I have resurrected my widely adored Ponder Post brand -PP10 on tattoos remains my greatest blog hit - is that I am seriously puzzled about this big economy thing. Everything seems to be awful, China is about to sell off most of the US and yet the Stock Markets are holding up. Why?
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A blog about, among other things, imaginary ideas - What ifs? and Imagine thats. What if photographs looked nothing like what we see with our eyes? Imagine that the Berlin Wall had never come down. What if we were the punchline of an interminable joke? All contributions welcome.
Fresh air ?.
ReplyDeleteThis is indeed the great mystery - how come it's all ticking over nicely when just about every single element is crock? I have no idea what the answer is, but Gordo has been benefiting from it for years. Maybe it's some kind of superorganism... ?
ReplyDeleteOuch. The pound is definitely pounding the dollar. Ditto the euro. And yesterday, despite our family's falling revenues (I'm unemployed), I put a downpayment on an Easter trip to gay Paree. It's our son's Christmas/birthday gift and he deserves it (he's starring as Atticus Finch starting tonight "To Kill a Mockingbird," his school's fall play).
ReplyDeleteAnd, bien sur, I'd rather travel than eat. Amend that: I'd like to travel AND eat...French cuisine.
By the bye, when are you boys going to get to Philadelphia now that you can buy the joint?
I'd think twice about buying Philadelphia, Bryan.
ReplyDeleteAt this rate, I'm going to be looking for cardboard boxes to sleep in when I visit the UK. You don't by any chance have any left over from the move, do you Bryan?
ReplyDelete