You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #10: Yes, I notice they make similar claims in nearly every article regarding [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-20-04 07:47 AM
Response to Reply #4
10. Yes, I notice they make similar claims in nearly every article regarding
the current run up in the price of oil. That's one of the great things about stats. You can use them, somewhat out of context to make nearly any case you want. Business stats has been one of my favorite studies! What did the rest of the global economy look like then compared to now though? Real income, discretionary spending, unemployment, GDP, deficits, etc, etc.

From the original article posted, they hint at such differences (pointing more to the different political situation), but I have yet to see an article the covers the subject more deeply.

Adjusting for inflation, the price of oil remains far below a 1981 peak, when the level was equivalent to more than $72 a barrel in today's dollars, said John C. Felmy, chief economist at the American Petroleum Institute, an industry group based in Washington.

But higher prices have rippled around the globe, as forecasters from Wall Street to Brussels to Seoul trim economic growth estimates.

"Europe is looking pretty fragile right now anyway, so this oil price shock comes at a bad time," said Jonathan Hoffman, chief European economist at Royal Bank of Scotland Financial Markets, according to an Associated Press report. "We are in a different world than what we used to be. . . . Who knows what al Qaeda is doing in Saudi Arabia?"

Printer Friendly | Permalink |  | Top
  -STOCK MARKET WATCH, Friday 20 August ozymandius  Aug-20-04 07:07 AM   #0 
  - WrapUp by Martin Goldberg  ozymandius   Aug-20-04 07:16 AM   #1 
  - 'Oil Shock' Has Some Economists Worried  54anickel   Aug-20-04 07:20 AM   #2 
  - When adjusted, oil is now $8 less per barrel than '91  NewYorkerfromMass   Aug-20-04 07:25 AM   #4 
  - what inflation?  UpInArms   Aug-20-04 07:29 AM   #7 
  - It's become another great tool to pull out to prove a point.  54anickel   Aug-20-04 07:57 AM   #12 
  - "For years" yes, but not for 25 years.  Frodo   Aug-20-04 07:58 AM   #13 
  - Well there HAS been inflation  RivetJoint   Aug-20-04 08:36 AM   #23 
  - Yes, I notice they make similar claims in nearly every article regarding  54anickel   Aug-20-04 07:47 AM   #10 
  - Oil Tops $49 On Renewed Iraq Violence  UpInArms   Aug-20-04 07:55 AM   #11 
     - Too much money to blame for rising price of oil, economists claim  54anickel   Aug-20-04 08:11 AM   #16 
        - A painfully refreshing bit of honesty here -  ozymandius   Aug-20-04 08:22 AM   #17 
  - When combined with the rising costs for health care, produce,....  Media_Lies_Daily   Aug-20-04 08:34 AM   #20 
  - Thanks MLD, that's what I was attempting to get across. You've  54anickel   Aug-20-04 08:43 AM   #25 
  - Cost of living index  NewYorkerfromMass   Aug-20-04 09:23 AM   #29 
  - Anyone have a graph to show the long-term oil price?  english guy   Aug-20-04 10:39 AM   #31 
     - here's a link to a chart for you  UpInArms   Aug-20-04 10:53 AM   #32 
  - Words to beware.  ozymandius   Aug-20-04 07:29 AM   #8 
  - CAFE standards? Heck no!!! The answer is in the *residents stinkin'  54anickel   Aug-20-04 08:04 AM   #15 
  - Global: Oil-Shock Assessment (Roach's cited article)  54anickel   Aug-20-04 08:34 AM   #21 
  - US economic barometer fell in July  ozymandius   Aug-20-04 07:23 AM   #3 
  - daily dollar watch  UpInArms   Aug-20-04 07:27 AM   #5 
  - Heh, lookie at gold! Heading up right along side the ol' buckaroo.  54anickel   Aug-20-04 07:58 AM   #14 
  - Trade gap darkens U.S. picture  54anickel   Aug-20-04 07:28 AM   #6 
  - Fleet layoffs call merger into question  UpInArms   Aug-20-04 07:36 AM   #9 
  - Bank of America almost destroyed me last December  progrocker69   Aug-20-04 08:34 AM   #22 
  - I wish I had a nickel for all the times Bank of America has done this  loudsue   Aug-20-04 11:35 AM   #33 
  - All mergers eliminate duplicated responsibilities, something which....  Media_Lies_Daily   Aug-20-04 08:38 AM   #24 
  - 20 billion in repurchase agreements yesterday! That's the most in a  54anickel   Aug-20-04 08:29 AM   #18 
  - What does that mean, 54anickel??  loudsue   Aug-20-04 11:37 AM   #34 
     - Didn't mean to leave you hanging there Loudsue  54anickel   Aug-20-04 12:43 PM   #35 
  - pre-opening blather  UpInArms   Aug-20-04 08:30 AM   #19 
  - 9:45 and they're off (and so am I for a few hours)  54anickel   Aug-20-04 08:47 AM   #26 
  - 9:56 and back in the black  Maeve   Aug-20-04 08:59 AM   #27 
  - must run for the day  ozymandius   Aug-20-04 09:21 AM   #28 
  - 10:44 EST numbers and blather  UpInArms   Aug-20-04 09:47 AM   #30 
  - 1:44 post lunch check-in, and all is well  54anickel   Aug-20-04 12:47 PM   #36 
  - ## PLEASE DONATE TO DEMOCRATIC UNDERGROUND! ##  DU GrovelBot   Aug-20-04 01:06 PM   # 
  - Bonds or gold - which market is wrong?  54anickel   Aug-20-04 01:06 PM   #37 
  - Contrary Bet on Oil Is Costly to Year-Old Hedge Funds  54anickel   Aug-20-04 01:15 PM   #38 
  - BOGUS PHONE MESSAGE USED TO PUMP UP STOCKS  54anickel   Aug-20-04 01:23 PM   #39 
  - 2:24 EST numbers and blather (calls must be working!)  UpInArms   Aug-20-04 01:28 PM   #40 
     - Care to place a wager on whether or not they pull some chips off the  54anickel   Aug-20-04 01:37 PM   #42 
        - I'm keeping an eye on it today.  Why   Aug-20-04 01:45 PM   #44 
        - I'd wager that they're going to let the  UpInArms   Aug-20-04 02:02 PM   #45 
           - Thinking you're probably right on that one. Forgot about the no news  54anickel   Aug-20-04 02:21 PM   #50 
  - Gold/Oil Ratio Extremes  54anickel   Aug-20-04 01:34 PM   #41 
  - New oil highs spark gold rush  54anickel   Aug-20-04 01:41 PM   #43 
  - 3:03 EST numbers and blather (all is well)  UpInArms   Aug-20-04 02:05 PM   #46 
  - Stocks Edge Higher As Oil Prices Fall  54anickel   Aug-20-04 02:11 PM   #48 
  - U.S. stocks push higher as oil prices pull back sharply  54anickel   Aug-20-04 02:31 PM   #51 
  - The Wanna-Be State (linked at 321gold, again)  54anickel   Aug-20-04 02:06 PM   #47 
  - Gene therapy turns slobs into workaholics (I NEED THIS!!!!)  54anickel   Aug-20-04 02:17 PM   #49 
  - Big finish  54anickel   Aug-20-04 04:11 PM   #52 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC