Wednesday, August 06, 2008

I Don't Mean to Say I told You So, But I Did!

On May 11th, I wrote "Now is the Time to Buy an SUV!! " I received a lot of notes and emails (especially on telling me I was crazy and the numbers just didn't add up. Well, they did, still do, and probably will for a while yet since the general public is so gullible for fear tactics.

I said in another article: "Three Big Bubbles Will Burst: Part II" that the price of oil would probably hit between $140 and $160" then back off or drop to the $80 to $90 range. It topped around $147 and yesterday was $118.

Since to did not collapse all at once, it will likely go back to the $130 to $140 range again before continuing down. That it my prediction. If it is a steady drop, it most likely will not go much below $100. A collapse at any point could cause an overshoot to $60 to $70.

Regardless, if you like SUV's FGS buy one. It will take you years, maybe decades, to recover the difference in cost of buying an expensive and over-priced Hybrid or small car.

Just thought I would point a few things out,

The Hammer

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