Let Them Play and Get Tested
(Laissez-les essayer et de se faire tester)
So, Wall Street was allowed to play as much as they liked to be tested in the fall of 2008.
SECTION I: Braking News - Aurantiochytrium, New Oil Source
Finally, Japanese scientists have confirmed that the algae plant Aurantiochytrium produces a kind of crude oil in water without photosynthesis at costs of one dollar per liter.
Its efficiency of producing oil fuel is 100 times larger than, say, corns! Some other types of algae have the same biological nature, such as Botryococcus braunii, to produce oil fuel in efficiency 10 times larger than, say, corns! But, Aurantiochytrium can produce oil at a 10 to 12 times faster rate than Botryococcus braunii, and thus 100 to 120 times more than corns!!.
(http://www.nikkei.com/news/category/article/g=96958A9C93819695E3E6E2E6E58DE3E6E3E0E0E2E3E29180EAE2E2E2;at=ALL)
However, it is expected to take 10 years to bring this biological fuel made of algae into market.
http://www.biol.tsukuba.ac.jp/~makoto/project.html
So, in 10 to 15 years, Japan will be an oil or algae producer/exporter, since there are so many inhabitants for these algae plants in Japan.
SECTION II: OPEC Reported Reserves
Graph of OPEC reported reserves showing refutable jumps in stated reserves without associated discoveries, as well as the lack of depletion despite yearly production.
http://en.wikipedia.org/wiki/Peak_oil
There are at least six countries you should not trust naively: Iran, Iraq, Kuwait, Saudi Arabia, UAE, and Venezuela.
But, they are all a kind of autocratic states like China The New York Times so much trust as proven in the Senkaku illegal fishing incident Japan dealt with to protect its 1000-years long territory of the Senkaku Islands.
SECTION III: What They Said on Oil Price in 2008
The New York Times did Not tell the world that something wrong or terrible was going in the crude oil market that might be indicating a possible crash of the subprime loan-based instrument market, the housing market, Lehman Brothers and the likes, and even bankruptcy of GM.
Oil Prices Take a Nerve-Rattling Jump Past $138
By JAD MOUAWAD
Published: June 7, 2008
...
“This market is going to shoot itself in the foot,” said Adam Robinson, an energy analyst at Lehman Brothers. “It is searching for a price that will build a safety cushion in the system — either as inventories or as spare capacity. This takes time. But the market has gotten extremely impatient and is not willing to wait.”
...
The latest jump came as the dollar lost more than 1 percent against the euro amid bleak economic news that fanned recession fears. The unemployment rate surged to 5.5 percent in May, the government said, the biggest increase in more than two decades.
Friday’s negative news pricked a budding sentiment on Wall Street that the financial system was on the mend, and stocks fell sharply. The Dow Jones industrials lost 394.64 points, or 3 percent, to 12,209.81, with financial stocks showing the biggest declines.
...
The pronounced volatility in energy markets in recent weeks continued to puzzle traders. Prices kept rising despite a lack of shortages in the market and strong evidence of lower consumption in industrialized countries. But investors are caught in a bullish mood, focusing on the perceived risks to future oil supplies and the growth in oil demand from emerging economies, where fuel prices are subsidized.
...
The world currently has about three million barrels a day of spare capacity, and consumes 86 million barrels a day of oil.
...
“The return of the Iranian risk premium calls for a careful assessment of the potential oil supply impact of military strikes on Iran,” said Antoine Halff, an analyst at Newedge, an energy broker.
...
Investors also reacted to the latest forecast by a large Wall Street bank that oil prices would keep rising. Morgan Stanley predicted that prices would spike to $150 a barrel in the next month because of strong demand in Asia.
...
“I find commodity index buying eerily reminiscent of a similar craze for portfolio insurance, which led to the stock market crash of 1987,” Mr. Soros said this week. But he cautioned that an oil market crash was not imminent.
...
“I don’t know how else to say it, this is not a bubble,” Jan Stuart, global oil economist at UBS, said. “I think this is real. There is a whole bunch of commercial buyers out there who are spooked and are buying. You are an airline, right now, you’re scared. I don’t see who would buy at these prices unless they need to.”
Jeffrey Harris, the chief economist at the Commodity Futures Trading Commission, who was speaking before a Senate committee last month, said he saw no evidence of a speculative bubble in commodities.
http://www.nytimes.com/2008/06/07/business/07oil.html?_r=1&em&ex=1212897600&en=3877f96aee464d82&ei=5087%0A
There have been 40 or so winners of the Nobel Prize for Economics in America. But, in 2008, nobody advised The New York Times that something wrong or terrible was going in the crude oil market that might be indicating a possible crash of the subprime loan-based instrument market, the housing market, Lehman Brothers and the likes, and even bankruptcy of GM.
Read the above quoted article issued by The New York Times on June 7, 2008.
Crude oil prices shot up as high as $140 per barrel in the summer of 2008, since Wall Street guys were feeling that they had to earn money in commodities including oil as Lehman Brothers and the likes were failing in their money games and going to go bankrupt.
*** *** *** ***
According to JIJI Press Co., ranking of popular Japanese politicians voters want to see as prime minister in the next political change is as follows:
1. Shigeru Ishiba (LDP)... 8.4%
2. Youichi Masuzoe (Kaikaku)... 8.0%
3. Seiji Maehara (DPJ)... 7.2%
4. Yoshimi Watanabe (Your Party)... 7.0%
5. Naoto Kan (DPJ)... 6.9%...Incumbent P.M.
...
10. Sadakazu Tanigaki (LDP)...3.2%...LDP President
...
12. Yuriko Koike (LDP)...0.8%...female ex-Defense Minister
...
X. "Cannot tell"...35.2%
It is highly expected that after the next general election in Japan, the socialistic DPJ will lose power; the conservative LDP and its allies will take over with LDP President Mr. Tanigaki as new prime minister.
Put boldly, both Japan and the U.S. look like going to have conservative tops in government in 2013.
It is not so bad, since economy can be controlled based on conservative ethics if honestly observed even on Wall Street.
By the way, have you read any simple guide book or a comic book on The Capital?
(http://www.youtube.com/watch?v=WvuhL3ZFweI&feature=related
What did they compose for Christmas if it had been so important for Beethoven and Mozart?)
Mar 12:17 And Jesus answering said unto them, Render to Caesar the things that are Caesar's, and to God the things that are God's. And they marvelled at him.