Whats the deal with Oil ?

From 60-0 in 5 months? Wow, isn’t that something. It was hardly not too long ago when some of your industry best analyst were predicting oil prices at $150, $175, $200, even $400. Geez were they wrong. I mean what gives, right? We trust these intelligent people in Wall Street. With their high paying salary job the least they can do is be somewhat right, or even somewhat close to right. I read an article not too long ago on http://www.cnbc.com/ about the same Goldman Sachs analyst that predicted $200 oil by the end of the year, retracting his prediction and now saying that we will be at $35 a barrel in the next 3-6 months? You know I didn't go to an Ivy League school, but even I can tell you that oil will hit $35 a barrel in the next 3-6 days, hours, or maybe in the first 3-6 minutes of trading this Monday! Wait, this past Friday we trade at $35 and even below that. Now if you follow the market we know those were the short term contracts and people were selling oil because of storing issues, so maybe oil is really valued at around $40-42. With the global slowdown and the recession in the US is dealing with, oil prices will find a bottom somewhere around here give or take + or - $5. I think that $35-$40 would be a good bottom for now despite the fact that some Oil producing buffoon contracts have gotten oil high for some reason thinking they can rip of the American people and the rest of the world that they have move their own breakeven point for profit to somewhere over $50 a barrel? I have the feeling that they got way over their head with their margins been so fat. Well if they get into trouble, I guess there’s always the IMF to tap into if your country is on the verge of going broke. But don’t take my word for it; I am not an overpaid analyst on Wall St making outrageous predictions that made it seem that the Los Angeles Clippers might win a NBA final in the next year or two.

Crash of 2008

The crash of 2008 has marked an infamous scar in history. It has been devastating on a global scale not seen since the great depression. I personally didn't think the repercussions would be so deep but I was wrong. It was a cataclysmic event that caused the collapse of many big firms in which were leaders of the new economy. They have now become victims of the credit market, the same credit markets they helped create. For many of us, our retirement funds have taken a haircut of almost half. For an unlucky few it has left us bankrupt and has lead to the American Dream being robbed from us from those that told us we can afford it. The question remains, who is at blame? We can point fingers in almost all directions, but ultimately we can say it was greed that that fueled this bubble and greed that has robbed us from our wealth. A handful of informed, wise Americans were able to dodge a close bullet. It’s not just necessarily the wealthy, but the average Joe. What secrets did they know that other Americans didn't? What foresight did they have? Maybe it was because they are more intelligent than the rest of the general population. The truth of the matter is that there were indeed many warning signs before the crash. It was more than just one person or firm making a claim that we were living in a bubble ready to pop. The question we should really be asking ourselves is, "Why did we react to any of the signs that we so bright that we somehow missed?"