Now the Federal Reserve Bank of Atlanta is out with data on how major the money flow has been into the sector:
As a fraction of total investment on nonresidential structures, spending on mining exploration, shafts, and wells has been running near its 50-year high over the course of the current recovery. As a fraction of total business investment in equipment and structures, the current contribution of the mining and oil sector is higher than any time since the early 1980s (and generally much higher than most periods during the last half century).
Bob,
ReplyDeletecould you have told me this back in July so I could have shorted Halliburton and doubled my money?
So what is the best way to gain from the collapse of the bubble?
ReplyDeleteAnd when Ron Paul mentioned "malinvestments", the debate "moderators" would shake their heads and go "there he goes again".
ReplyDeleteYup. As if the 2008 crash he predicted didn't happen. LOL!
DeleteThese dumb asses never learn.