It's totally escaped media attention

Gold has set new all time record, and is about to blow through $900, and everyone's watching [edit: POLITICS] And hardly a word has been mentioned about the downed plane in the Straits or Iran taunting our military ships. The predictions of $200 oil, are about as silly as the prediction of $100 oil was back when it was $50. Whoops, bygosh it's about to go over $100. How'd that happen so fast ? But we here on the board are focused on a bit of reality, as usual. That's not a bad thing.

Gold has set new all time record, and is about to blow through $900, and everyone's watching [edit: POLITICS]

And hardly a word has been mentioned about the downed plane in the Straits or Iran taunting our military ships.

The predictions of $200 oil, are about as silly as the prediction of $100 oil was back when it was $50. Whoops, bygosh it's about to go over $100. How'd that happen so fast ?

But we here on the board are focused on a bit of reality, as usual. That's not a bad thing.

I understand what you are saying. The problem with thinking $200 oil over the next year or two is that that would represent apprx. $7.00 per gal. gas. It ain't going to happen. Even $150 oil is politically untenable for whoever is running the show.

So, where is the ultimate top and when and though how many corrections until it gets there? Then, does it do a swoon like gold in the 1980's (I say very doubtful)? What will the government do to stablize prices?

Edited by milbank, 09 January 2008 - 09:40 AM.