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Family Values
Join Date: Jun 2003
Location: Los Angeles, CA
Posts: 4,075
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The dollar is soft right now. As such, inflation is manifesting itself in the price of oil, which is pegged to the dollar.
Additionally, the markets are being manipulated by hedge funds, with a lot of capital to toss around. They are all gaming it long, as more begin to short (which technically is what a hedge fund is supposed to do), pressure will mount in the other direction.
Supply and demand do not seem to be at issue right now but everyone expects demand to continue to rise.
No bubble, but the prices are much higher than they should be IMO.
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- Joe
Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves. - William Pitt
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