I guess I should work like hell on the side this spring to save some money and go on vacation to the US. I will be as rich as a king with all my hard currency! And the gasoline is almost free over there. Maybe a coast-to-coast road trip? ;D
And I've just figured out I can buy government bonds straight from the Swedish state online (no fees at all, wooo!) with a duration of 2 months to 25 years. There are inflation protected ones too. The intertubes is just great. Peak oil is not an energy crisis. It is a liquid fuel crisis.
I bailed on USO due to the contango issue that causes it to under perform vs. the spot price. If/when we get into a nasty recession and it drops back down to $70/80 a barrel I might pick it up again.
you are the media you consume.
I made my own little big oil "index fund" by including pretty much equal amounts of Exxon, Chevron, Total, Conoco and Shell. Well, a little extra of Exxon. And none of the British "we can't even spell maintenance" Petroleum idiocy.
Haven't got enough money to include lots of smaller companies like Andarko and Talisman, even if those probably have a brighter future than the supermajors.
With the giant size of the companies and the inherent diversification of integrated big oil, the company risk goes away a bit. Peak oil is not an energy crisis. It is a liquid fuel crisis.
Dunno enough about Dubai, but Mongolia sounds good if I can find it on the map... ;-)
Btw one of the better meals I've had was in a Mongolian barbecue restaurant in Bergen.
Yummm. But not recommended for vegetarians... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
For short term stuff, other economies are looking better. Romania is bit of a star at the moment. The break in the political log-jam in Cyrpus has brought a rash of N Cypriot property onto the market.
I also sensed a lot of confidence from Turkish sellers as well. Last year everything was being sold on EU membership, but I think they've realised they've got a good product whatever (and they do on the south coast but Bodrum is massively oversold). EU membership is just a bonus. keep to the Fen Causeway
I think as energy costs rise, the sheer unsustainability of Dubai's rash of building is going to be a problem. Most of it isn't built to last and it really is AirCon Central....water isn't going to get any cheaper either.
I'm a fan of Northern Cyprus too, but the title situation is still problematic on much of it.
Wherever you can get mortgages you'll see property prices going up, of course. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Most of the N Cypriot stuff was new build on virgin land where compnsation costs would be marginal compared to the value of the property.
Still no old property coming up, but the idea is that, although title is a problem, there will be a rational solution to it cos they can't allow it to cause problems down-line.
. keep to the Fen Causeway
