Wednesday, May 21, 2008

Holy Cow

Something I will continue to do until I can get me a stable and suitable supply of throat and kitty cat (any volunteers), will be to talk about the economy and some politics. Yawl know I try to be about money. Especially being the only person in my household in a position to provide food clothing shelter, oh and don’t forget the mortgage. But I have had to step my game up. I thought I was rather astute when I came to such but nowadays, you got to be on everything, or in a position to monitor every economic indicator, even new ones that pop up that never would have been considered as such.

My favorite indicator outside of my statements from my investments is the price of oil. Oil just hit the $130.00 a barrel mark today. Now I feel that the$150.00 mark will be just around the corner, maybe by the end of the summer or best the end of the year. If I were a commodities man, I’d lunge out there and say it is a good time to go long – maybe I should call my broker. I have read that folks are even purchasing oil futures almost a decade in advance.

What is really troubling, like I said were things that I use as indicators that I never have before like copper and wheat. Copper prices are climbing fast, so fast that even the Chinese government via the China's State Reserve Bureau (SRB) is trying to bring down prices to cover fast-approaching short positions. Especially since one usd = 8.1 yuan. But that is just the short of it. Over here, although historically copper, a vital and frequently overlooked metal, from an investment perspective, to me it’s just as good or like Gold. I mean of al the metals used it ranks third.

But due to its increasingly rising cost, folks been stealing copper like it was cable. Namely because copper and scrap metal prices have soared 32 percent this year alone and because it is selling at about $2.65 per pound. Then add to the aforementioned, wheat contracts for May hit a record of $13.50 on the Chicago Board of Trade. And just like oil and copper, they are driven by global demand, a weak dollar and a shortage of supply. Which means they drilling in the regular budgets of folk like u and me.

Don’t even mention that World food supplies are shrinking while the population worldwide is increasing. And don’t sleep, they all connected because higher food prices is are correlated directly with higher energy prices. And they way this sexless mind thinks, things can and will only get worse. And places like the Ukraine and the US are stock piling wheat now.

So the next time you buy that slice of pizza, I wouldn't be suprised if you screamed "holy cow", cow refering to copper, oil and wheat.
Side Bar: BigBoi of Outkast stopped by the store today - good look folk and enjoy the book.
also interview on npr is tonight, i think, i mean i know he with kabc in los ang.


The Jaded NYer said...

man, you ain't say nothing but a word! Used to be I could buy ANYTHING cheaper in BK than I could in Manhattan- pizza included. Well, not anymore! Everybody is feeling the pinch of these increased food and oil prices.

And OF COURSE, Sr. Ass-face Chavez started in with his, "If y'all invade me I'll make barrels cost over $400..." I just want to punch him in his stupid face! But goddammit if he don't have us by the balls with that threat!!

*stops to breathe*

okay, let me stop ranting on your page...

Pimpin' Pens said...

Damn, Big Boi - Daddy Fat Sacks in the building! Damn folk, you affiliated with the realest of real, guess thats why we such close kin!

Holla at ya potnas

Rico and the Pimpin' Pens Team!


Kofi said...

I wouldn't be surprised if OPEC were subtly raising oil rates as a not-so-subtle hint to force us out of the Middle East... but I've been wrong before.

Judging from your picture you appear to be marketing to the right clientele. That's a good look indeed.

Thoughts of a Southern gal said...

Gas is out of hand and it's going to get worse. Did you know Saudia Arabia's gas is .....$0.45/gallon? SMH! Bush gave the gas companies the nod awhile back to do what they want to do.

memphiz said...

and i thought i was struggling now ... I'm about to be struggling forever.

Lovebabz said...

Far be it for me to criticize you on your blog...(smile) but if you want a woman to take to you as a possible mate then I would suggest that you refrain from referencing them as "stable & suitable supply of throat and kitty cat"

Now, I think you talking about Copper, Oil and Wheat is a good discussion. No one is talking about this as a real concern to Americans...albeit those that have investments or people watching their investments would have a clue. It is a bit nerve wracking trying to follow all the indicators that clearly SCREAM recession while at he same time the Bush Regime is consistently saying there is no "real" indication of a recession.

For me the reported rice shortage was my first AHA moment that things will indeed get worse before it gets better.

And I do hope you will indeed continue to discuss economics and politics even after you get your "stable and suitable supply of throat and kitty cat"

Much love to you!

12kyle said...

How much do you think Dubya has made off this major increase in gas?

*side note* Derrick Rose should go #1 to Chicago. I'm STILL mad at Memphis for messing up in that championship game.

Sorry to bring up old shit. LOL

Tony OH said...

Now that's economic insight! True numbers main, true numbers!

KELSO'S NUTS said...

Every commodity and hard asset in the world is appreciating against the USD and its yuan/renmimbi enabling device. That's how the scales balance, my friend.

My friend Luis down here who has a paving and foundation business is making more money warehousing Portland cement and tar components than DOING HIS BUSINESS!

Haute in LA said...

"if you want a woman to take to you as a possible mate then I would suggest that you refrain from referencing them as "stable & suitable supply of throat and kitty cat"

@ lovebabz: Can you say that ONE MO TIME????

Oh, and very poignant discussion. I paid $4.05/gal for gas yesterday and have decided to protest by walking 17 long miles from the valley to work everyday. That just aint right!!

Terry said...

Okay, let's say I didn't believe in Global Warming. Let's pretend that didn't think that the Chinese Government was hording raw materials to fuel a very shortsighted economic strategy. Let's ponder for a moment the fantasy that a 3% Growth in the Domestic Product (GDP) was a very good sign, and that the 0.1% rise in the "core" consumer price index for April, really was a burning bush saying "good times are a comin'".

I'd still say we're screwed.

You can't take a 15 trillion dollar financial giant that's rapidly losing steam, and turn that puppy around like a speed boat. That motha fucker is an oil tanker and before you get it turnaround, we could be paying 200.00 a barrel for oil (which translates to 6 bucks a gallon for you and I), and you'll be…if you aren’t already…deciding do I eat, or do I put gas in the car?

A measly .2 % growth in the GDP for the quarter isn't a "rally" of any kind. I don't care what Economist says it is. Things are going to get a lot worse before they get better.

Said thing is, a lot of Americans with political ties, (Can you say George Bush?), are gonna make a pile-a-money off our misery.

no_slappz said...


If you want to get a feel for the stock market, then read The Intelligent Investor, by Benjamin Graham. He was Warren Buffett's teacher.

Next, DON'T buy commodity futures. If you really believe the price of copper, or any other commodity, will rise, then collect copper itself and store it in a safe place.

But don't bother collecting pennies. There's not much copper in them.

If you want lower oil prices, tell Congress to allow US oil companies to drill off both coasts of the US and in the Artic National Wildlife Refuge. Then support the construction of a new refinery. Those actions would help a little as well as keeping oil-worker paychecks in the US.

The US government contributes to higher oil prices by limiting domestic drilling. There are plenty of land-based oil drilling rigs available to operate in newly opened territories. Hence, drillers could quickly get to work in many areas if Congress acted.

Congress could also cut the price of ethanol, which is now added to every gallon of gasoline. All we need to do is eliminate the 41-cent-per-gallon tariff on ethanol imported from Brazil and new supplies will flow in to the US, reducing the tax-payer subsidized price of our domestic ethanol.

Congress could also eliminate the subsidy given to corn farmers, thereby saving the taxpayers a few more dollars.

As for wheat, well, stop eating bread. Rice too.

The True Urban Queen aka Sharon said...

stable supply of throat and kitty cat? Why would some woman want someone who would refer to them as that?
I love you and all but, you better stop.

I'm staying away from ordering pizza. With things they way they are going I need to hold on to every penny. Besides, with the gas prices the way they are and going higher won't be any delivery service soon. Which could leave someone with out a job. Which could lead to a hungry family.
That is how the chain goes.

I think about things like this everyday since I too am the sole provider for mine. I may have to rethink relocating to a new state and be thankful for the home I own in this one.

shine said...

I've been keeping a watchful eye on stories concerning the rising price of food. I'm storing canned goods as I write.

"throat and kitty cat"--wow, how disappointing.

Torrance Stephens bka All-Mi-T said...

The Jaded NYer
rant all u want sister

Pimpin' Pens
yawl know i got yawl back

me either, regrading opec, and re marketing, i hope so

Thoughts of a Southern gal
yes i did, and we still paying less than the rest of the world on whole

we alll are unles we pay ourselves

u can alexander o'neal - critisize" all u want. be reminded its conjecture and folk still raw dawg buffalo
weak at heart and mind vacate the premisis

like the song 'where is the love'

Tony OH

i know and even the canadian dollar is lol

Haute in LA
well i write what comes out my mind, scared say you scared "not u" just an ancient memphis saying

Fools belive in what they see on tv and that it is a rally

no_slappz said...
i eat meat. I have a farm, food dont grow in grocery stores and u should know opitions, pork bellies or commodieties aint me. And I support drilling

The True Urban Queen aka Sharon
nope but a real woman would not get emotionally discharged over words as opposed to actions. Thats what they are

u have a keen eye, sorry about the disappointment, dont read any of my fiction then. but i am more tha one statement or phrase, but u be the judge. Weight and equiliburum - u know statics, and physics. Glad you aint judge MLK jr on his affairs

Immoral Matriarch said...

Tell Big Boi to make sure he's treating his pits right.

Jaded said...

Words can be very powerful things. If someone could reduce my worth to being merely "throat and kitty cat," even in jest, I might give him a second glance.

I keep thinking that the oil prices are the other contries of the world punishing us for GWB. I'm hoping that if we can get Obama elected, other countries won't feel the need to bitch slap us on a regular basis.

Jaded said...

oops...I might NOT give him a second glance.

Torrance Stephens bka All-Mi-T said...

he aint mike vick lol

sis u know me and satire, catch reader offended or not. i aint dwell on it but head, felation, sex or feminine wetness no biggy to me on phrase or all my words , what do u or all judge me by

LadyShay said...

Good thing I wasn't at the store, Big Boi would have been raped:)

And personally, stable, kitty cat and throat don't offend me. I doubt I would rather hear you say: a group of broads that suck me off and fuck me dry on the regular. uhhh yeah.

thepoetryman said...

It's looming, you can feel it. Odd thing is, some say it will be a shortage of water that finally does us in. I suppose they may be right if we don't all starve to death first.

Loved the post, Torrance.

Emeritus said...

torrance, i get wheat but why copper? can you explain it to me? i don't have time on my own (school and stuff) but it's nice to be knowledgeable about our changing world. wish i was closer so you can school me on stuff personally. have a feeling we would agree on a lot of things.

and i agree with memphiz. thought things were hard. it's about to get worse.

and hey, you keep saying it's nothing but words but very few of us know you personally. what else do we have to go by?

This comment has been removed by the author.

GREAT post, C.O.W., I love that always getting inspired here, that's cool.

Yeah, I am at 4.15 a gallon so, what can I say, really, that's why I own my business because you have to SAVE and be prepared for whatever, I have a son and children don't take "EXCUSES" well, so there will be none from me.

As far as the "throat and kitty kat comment", I'm celibate and he did ASK for volunteers, so that automatically DISQUALIFIES me..saving the King Treatment for my husband, maybe I'll even say it to him like that, "kitty kat & throat" boy you are TOO much : )

Good luck with that, there are SOME WILD ONES out there,ha.

msladydeborah said...

It is 1am in the O~State and I have just finished listening to the radio program.

There is nothing like intelligent and thought provoking ear candy! I sat and listened, cleaned out my desk, cleaned off my laptop and did some rearranging that has given my physical space needed clarity.

It was a good show T. and you should consider doing radio at least once every three or four months during the year. If nothing else to help a sistah like myself get something accomplished while receiving some knowledge!

I remember one morning while preparing to go to work, hearing that the cost of gas would be at least $4 a gallon by this summer. That was either at the end of last year or the beginning of this year.

Memorial Day marks the beginning of the summer season~and the cost per gallon is there or on the way.

There was an interview with an oil executive on the Today show recently. He made no apologies for making billions of dollars.

He spoke about his responsibility to the stockholders. And that they were pleased with the bottom line profits.

We are going to have to also consider some form of personal and collective conservation efforts. I stopped driving awhile back because of health reasons. Now that I can drive again~I'm not sure that I honestly want to do so. After watching my mother fill her tank with 8gallons of gas that totaled $30.00~I really do not get the point.

Eb the Celeb said...

so if I knew Big Boi was gonna be down at ya store I would have made an appearance with the

nah just playing... but when I get back in ATl... I'm definitely gonna try and stop by... email me the addy.. and a little bit of directions if you can

i.can't.complain. said...

look at the lil' one.

she's breath taking.


Ticia said...

I am paying $4.20 for gas...
I am PISSED the FOO off---

The Flyyest said...




KELSO'S NUTS said...

EMERITUS: I'll give you my take on copper to tide you over until RDB comes back to correct my errors and fill out the explanation.

Copper is a base metal which is both a hard asset and a standardized commodity. Thus, it is a store of value because it will always be needed as an intermediate factor in the production of so many things. No_slappz is absolutely on point on this issue.

The USD has no value. It is only backed by "the full faith and credit of the United States Of America." It is paper whose value will fluctuate will supply and demand, random (Brownian) motion, and most importantly real interest rates (nominal interest rates minus inflation).

Because of its commitment to continuous war in the Middle-East with a possible war to colonize Venezuela and Ecuador (lots of oil and some oil, respectively), plus its commitment to a national-security state, it is running record deficits and has a $9 trillion debt mostly held by foreign nations. Thus, to keep this going they have to print dollars to make their payments and therefore there are too many dollars in circulation. At the same time, they are buying back some of those dollars in the near-term inter-bank market to cut interest rates creating a situation in which the real return on a USD is negative. So, paradoxically, the US government (and China) are the best customers for its own currency.

No one else wants USD.

That is to say that the prevailing interest rates on the USD are lower than the rate of inflation.

Wouldn't you rather have copper?

KELSO'S NUTS said...

THE JADED NEW-YORKER: I happen to live in South America, so please let me explain what's happening down here, so you don't make the same mistake of buying into the Republican talking points again. What I'm going to tell you applies somewhat to Ecuador as well but Ecuador has only a fraction of Venezuela's oil. Nevertheless, President Correa will very soon be presented to the American public as an "ass-face" just like Chavez is for having the temerity to tell Bush to go get fucked when Bush tried to strong-arm him into renewing US oil companies drilling leases at sub-market prices.

But I digress. You have a Brooklyn orientation it seems, so let me pose this question. Do you like the idea of the poorest residents of that borough say in Bed-Stuy, East NY, parts of Vinegar Hill, Clinton Hill, etc., having free home heating oil or freezing during the winter? This is not a rhetorical question.

I'm going to assume you don't like the idea of poor people freezing. Well, did you know that Sr "Ass-Face" whom you'd like to punch out has been providing free home heating oil to the poor of the Northeastern United States through it's CITGO marketing arm?

Chavez enjoys needling Bush, plain and simple. You would, too, if you had the CIA and US-backed Colombian troops and Paramilitares along your border and had also survived a NEW YORK TIMES endorsed coup attempt! I recall that Chavez and Bill Clinton got along just fine.

The reality is that Venezuela is part of OPEC and because of Bush, America via Iraq now is a part of it as well. Chavez is only one vote in the cartel. He has neither the right nor the ability to make oil cost $400 a barrel by fiat.

I know plenty of Venezuelans and live about 250 miles from there as the crow flies. The ELITES of South America care a whole lot less about Hugo Chavez than you do! Hugo Chavez is not a threat. He is president of a capitalist democratic-republic which has many socialist features. It is more or less Spanish-speaking Norway.

Moreover, Venezuela's political process at the national level is cleaner than that of the US. When Chavez's "unitary executive" proposition failed by a small margin in the vote. It FAILED. When Gore beat Bush, Bush stole the presidency. When Kerry beat Bush, Bush stole it again, this time with Kerry's own complicity. And Bush VIA EXECUTIVE ORDER granted himself far more sweeping powers than what was in Chavez's referendum.

Although, we do laugh quite a bit at gringos, Chavez is no threat to you, either. He does not have you by the balls. If McCain beats Obama and invades Northern South America, then Chavez WILL have you by the balls because there is no number of troops adequate to occupy Venezuela, Ecuador and Bolivia, while crushing the Colombian center and left and preparing an incursion into Panama.

All that will happen is more US children being butchered like lambs to the slaughter for US amusement. If US troops can barely go outside the Green Zone in Bagdad, how are they going to take over Barranquilla, Bogota, Cali, Medellin, Guayaquil and Quito,never mind Caracas or Maracaibo? Any move on Panama and the PRD freezes every US corporate account.

Stopping to breathe is a good idea. Not believing media hype is better.

Que todo te pase super-vacano y chevere!

the prisoner's wife said...

i'm mad at "a steady supply of throat and kitty cat"


that ain't right.

VAR said...

Yo Torrance..

I'm listening to the rebroadcast of the show and lovin your comments! Amen to being a free thinker and your comments about the small stuff is so on point at least with me! lol.. I'm glad you said it! lol.. You need to be on the radio more often. That was a good

Lena said...

I went to buy a slice today...I remember when I was in grade school I could get a slice with a can of soda for $1.50. The slice alone was $2.00. High robbery!

Christopher said...

There was an oil analyst on MSNBC this morning who predicted $15 a gallon gasoline.

This dude said we will look back on $3.89 a gallon gasoline as "the good old days."

Guess I fucked up big time when I bought an SUV (albeit a small SUV) two years ago. See, it's like this.

I'm 6'2" and weigh 235lbs. I'm a big guy and I spent 12 years in a Toyota Tercel. I couldn't deal with it anymore and I wanted a more comfortable ride for my fat ass to slip into. Does that make me a bad person? Shit, lots o' people said I should've bought a bigger SUV.

So here I am. Gasoline climbing and climbing. I wish the Feds would send the military in and sieze control of the oil industry. Just go ahead on and nationalize it.

Love&Afros said...

Your daughter is beautiful.

Torrance Stephens bka All-Mi-T said...

better him than me lol

Thanks, how have you been and what have u been writing lately?


thank u sister. we need to staY INFORMED

u think? glad u enjoyed it, but me ear candy. LOL. i have been told i have a radio talk show voice

Eb the Celeb
lol u are the celeb sister

thank u sister as well u are too, takes one to know one

Ticia .
wit til 200 a barral, then u will be paying 6.00

The Flyyest
he is sister, i sent u an email, how u living loves the hair cut

well said. i sent her an email saying similar. and dont even mention the CIA u gone get me started

Tera said...

Throat and kitty huh? I won't go there...

Gas here has reached the $4 mark, and I feel sorry for those folks who can only use premium Mercedes Benz owners and such. This shit is bananas...a Huffy never seemed so appealing before in my life!

P.S. Kudos for one of the coolest cats stopping by the store!

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