I concur with MGroup on the Peak Oil issue. The video provided no support for this bald assertion. In fact, I believe it is accurate to say that the idea of peak oil has been around for at least 60 years. When I was young in the 60s the “oil depletion allowance” was a constant topic of discussion, a financial break given to oil companies because their staple resource was soon to run out. Despite the peak oil mantra, every year known oil reserves increase. And that is with precious little serious exploration in North America, because of all the disincentives.
On the topic of gold, if one believes it is the future, what is best way to own it? Is GLD a safe way to invest? Do you have to own the physical gold? There are a lot of concerns about the integrity of the market.
While I agree that gold prices are going to go sky high, I have true disagree with 2 of his main points. That of Peak Oil and the death of Manufacturing in the US.
In regard to Peak Oil, we are only reaching that point because of stupid policies. We have the Bakken Formation, ANWAR, and Gulf Oil, which of course needs to be supplemented with Natural Gas and Nuclear Power. We are still years away from from Peak Oil if we actually used what we have. Instead we are denying new Nuclear Power Plants, shutting down coal plants, not allowing ANWAR, and now Obama is issuing Executive Orders to shut down Gulf Oil. So yes, we are approaching Peak Oil but only because of stupid policies.
#2 Manufacturing death is something that I don’t agree with entirely. It is true that we are losing jobs in manufacturing, but actual output is still rising.
Just like farming, we are seeing the work transition from manual labor to machines. What’s important is that we are still producing things of value. Caye Hayek explains.
I believe gold is only going to rise, but the main reason is from leaders who make stupid decisions based primarily on ignorance and an undying belief in the government as the solution. The problem is not based on things that we have no control over. We can turn this around, we can save America, all it takes is a little economic sense and principled free-market leadership.
I concur with MGroup on the Peak Oil issue. The video provided no support for this bald assertion. In fact, I believe it is accurate to say that the idea of peak oil has been around for at least 60 years. When I was young in the 60s the “oil depletion allowance” was a constant topic of discussion, a financial break given to oil companies because their staple resource was soon to run out. Despite the peak oil mantra, every year known oil reserves increase. And that is with precious little serious exploration in North America, because of all the disincentives.
On the topic of gold, if one believes it is the future, what is best way to own it? Is GLD a safe way to invest? Do you have to own the physical gold? There are a lot of concerns about the integrity of the market.
While I agree that gold prices are going to go sky high, I have true disagree with 2 of his main points. That of Peak Oil and the death of Manufacturing in the US.
In regard to Peak Oil, we are only reaching that point because of stupid policies. We have the Bakken Formation, ANWAR, and Gulf Oil, which of course needs to be supplemented with Natural Gas and Nuclear Power. We are still years away from from Peak Oil if we actually used what we have. Instead we are denying new Nuclear Power Plants, shutting down coal plants, not allowing ANWAR, and now Obama is issuing Executive Orders to shut down Gulf Oil. So yes, we are approaching Peak Oil but only because of stupid policies.
#2 Manufacturing death is something that I don’t agree with entirely. It is true that we are losing jobs in manufacturing, but actual output is still rising.
Just like farming, we are seeing the work transition from manual labor to machines. What’s important is that we are still producing things of value. Caye Hayek explains.
I believe gold is only going to rise, but the main reason is from leaders who make stupid decisions based primarily on ignorance and an undying belief in the government as the solution. The problem is not based on things that we have no control over. We can turn this around, we can save America, all it takes is a little economic sense and principled free-market leadership.