Crossposted from The Stars Hollow Gazette

The fact-

Because of the world-wide economic downturn Oil Inventories are at historic highs.

Also a fact-

Prices keep rising.

Now when there is a disconnect of this type between supply and demand even the most Freshwater of Economists start looking at the actions of the market and market actors for a rational explanation of this mis-allocation of economic resources.

In this particular case we don’t have too far to look.

The system is flooded with money.  The intention is that it be invested in productive activity with modest rates of return on investment.  The Banksters on the other hand are invested in speculative activities that have aberrational and unsustainable rates of return.  Because of these expectations and the amount of “liquidity” we are seeing commodity bubbles as money rushes from this to that flavor of the week seeking economically unjustifiable “profits”.  This can’t last and it hasn’t.

The .01% are going to have to cash out their losings at some point and realize their hair has been cut, because they have all the money.  You can’t get blood from a turnip.

Rising Oil prices will decline sometime soon.  Unfortunately probably not before they depress the Main Street Economy the rest of us use.

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My Application: Head of Public Relations, Goldman Sachs

By Barry Ritholtz

February 13th, 2012, 7:15AM

To: Hiring Committee, Goldman Sachs

From: Barry Ritholtz

Re:  Position, Head of Public Relations, Goldman Sachs

Date: February 13, 2012

(I)t is with great pleasure that I toss my hat into the ring for the position of Director of Communications for Goldman Sachs. Not only do I have the requisite skill set to help rehabilitate the image of the 100+ year old firm – media savvy, legal smarts, netizen, with just a dollop of snark – but I believe I can help you move gracefully into the new century.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Did Mitt Romney’s Dog Seek Asylum In Canada?

By Hunter Walker, Politicker

1/31 2:15pm

Mitt Romney may not have told the whole truth about the scandalous tale of his Irish Setter, Seamus, being strapped to the roof of his car during a 12-hour family road trip to Canada. According to a trusted Politicker tipster, two of Mr. Romney’s sons had an off-record conversation with reporters where they revealed the dog ran away when they reached their destination on that infamous journey in 1983.

…

Mr. Romney and his wife clearly want the world to think that, despite defecating himself, Seamus had a pleasant trip to Canada and a long life in the Romney household. However, based on what Mr. Romney’s sons allegedly told reporters about Seamus going on the lam in Canada, Seamus didn’t like being strapped to the car enough to stick around for the return trip.