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Penn West Petroleum Ltd. Message Board

  • lsuavecito lsuavecito Dec 17, 2008 9:36 PM Flag

    Jim Willie Forecast...


    Let me state an unequivocal unambiguous forecast. AS LONG AS THE PHONY WAR ON TERRORISM CONTINUES, WITH THE STAGGERING ANNUAL OVERT AND HIDDEN COSTS, THE USECONOMY WILL REMAIN IN A DOWNWARD SLIDE. This is the biggest waste of money in the history of the nation, and the cause of tremendous loss of prestige internationally in the world. The entire set of major industrialized nations, all Latin American nations, and the majority of smaller nations are well aware that the portions of the USMilitary and its closely aligned security agencies have become dominant in their well-established narcotics monopoly, whose center is Afghanistan. The majority of Americans remain ignorant of this fact. The business is worth between $350 and $400 billion per year, big enough to dictate some important foreign policies. The USGovt federal budget covers most of their costs, and federal revenue streams receive none of their gains. These provide motives to continue the war. Defense contractors and military service providers love this war.

    LASTLY, THE IMPORTANT SECTORS OF HOUSING AND CARS WILL NOT RESPOND TO LOWER INTEREST RATES, SINCE NO PENT-UP DEMAND EXITS IN THE TYPICAL CREDIT CYCLE. This is not a credit cycle, not a business cycle, but rather a systemic cycle that will lead to massive liquidations. The USEconomy and US financial system cannot tolerate such liquidation, and therefore will continue deeper into DISINTEGRATION.

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