It is this sort of arrogance that got us into trouble. It's the sort of hubris a singer with a song as number 1 develops. They think they can stay their forever. We think we can continue growing, consuming, polluting forever. You can't. Michael Jackson is a cautionary tale in that respect...one we unfortunately are now stepping into collectively, ourselves.
Can we really say that oil at $70 and more is a benign situation? We're also seeing a consistent situation where supply and capacity is being outstripped by demand (whatever the price?).
"Every structural element in our financial sector is a jackstraw groaning under a load of false expectation. The hedge funds are only the most elaborate pieces, with their intertwined webs of exponentially unreckoned risk. The equity markets are a three-ringed circus of 'greater fools.' " My thinking is simply this: if all economic is underpinned by energy (as breathing oxygen is the given for us walking around everyday), and that energy becomes more expensive, when do the marklets reflect that? My thinking is later, rather than sooner, and too late, rather than just in time.
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