Deadman's picture

    Pessimism doesn't pay ...

    My dad is an eternal optimist, one of those turn-lemons-into-lemonade people. And yeah, it sometimes annoys the living shit out of me.

    I am, after all, an in-the-long-run-we're-all-dead type of guy, a devout half-empty man (I'd call myself an eternal pessimist, but I don't believe anything lasts forever :) )

    Deadman's picture

    Bubbling black - revisited ...

    Time for a short self-congratulatory post (For if I don't do it, who will?).

    Right before the Fourth of July, I wrote that the price of oil was a bubble waiting to be pricked and nearing a short-term top. In the past three weeks, the price of oil has fallen by about $20 bucks a barrel, or almost 15 percent, a huge move by any standard. In terms of daily closing prices, July 3rd ended up being the exact top.

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    Deadman's picture

    You can't force compassionate capitalism (or 'My BuschInBev is fine. How's your pikken?') ...

    As a native St. Louisan who always feels some sort of odd civic pride whenever those clever beer commercials end with a dude intoning 'Anheuser-Busch, St. Louis, Missouri,' I know I'm supposed to be upset about the recent acquisition by Belgium-based InBev. Yet I can't muster any passion over the loss of the historic brewer and one of my hometown's few remaining independent corporate behemoths (TWA, McDonnell Douglass, Ralston Purina all bit the dust long ago).

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    Deadman's picture

    Bubbling Black ... Pop Goes the Diesel ...

    OK, I know nothing about the oil market, but considering I distinctly remembering the then-CEO of Exxon-Mobil saying on CNBC that oil was way overpriced based on the fundamentals some 2-plus years and $100/barrel ago, I don't see why my lack of knowledge on the subject should keep me from commenting.

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