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Join Date: Aug 2002
04-25-2008, 5:10 AM
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Laurer interviews Krammer on "TODAY" Krammer says gas he expects gas to hit $5/gal by next summer. That dude is rarely wrong I left $5 out of the title above on purpose. I cant help but think how this is going to affect our sport and all the supporting boat and board companies. Wakeboarding changed my life, so im still in, but I see trouble ahead. Just had to vent
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Join Date: Jan 2004
04-25-2008, 5:30 AM
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Chris, see my thread 'where is wakeboard going'. Gas is supposed to hit $7/gallon by 2012. At the rate that China and India are growing, we would need another Saudi Arabia to produce enough oil just to maintain the same levels. Beijing alone has 1000 new cars every day.
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Join Date: Apr 2002
04-25-2008, 6:38 AM
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Jim Cramer is rarely wrong...lol!!!!! Check back to '01 when he was telling everybody to continue buying tech stocks that ended up being worth pennies on the dollar...or a few weeks ago when he said shareholders of Bear Stearns should HOLD the stock during the turmoil surrounding it...the day before the stock dropped by 75%!!!! Gas may very well hit $5/gallon, but saying Jim Cramer is rarely wrong is the funniest isht I've read in a long time.
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Join Date: Jan 2004
04-25-2008, 7:00 AM
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Haha Tommy, I tried not to say anything. Im not a Kramer fan either.
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Join Date: Jul 2007
04-25-2008, 8:12 AM
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Since Cramer is never wrong, anyone wanna buy my Sirius Stock I bought at $3.90 when he said buy? it is trading at $2.65 today.. The merger is not over yet, but still no fun sitting on 25% decline right now!
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Join Date: Jan 2004
04-25-2008, 8:16 AM
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My dad bought Sirius for me, when I found out, I sold it. Is there a future in satelite radio? I dont think so. Maybe satelitte TV in your car, but no radio. People want mp3 players.
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Join Date: Jun 2006
04-25-2008, 8:31 AM
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leo, exactly, mp3 players have become so cheap that satellite radio will die off. Why would I pay them to listen to music when I can listen to what I want for free? Besides XM sucks, they have too many commercials now, their DJs talk to much, and they play those stupid station identifiers constantly. The phone call when I finally canceled my XM was priceless. XM"Why do you want to cancel your service you've been a subscriber since 2005?" Me "Because if I wanted to listen to a bunch of commercials and idiot DJs I'd just listen to FM" XM"...."
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Join Date: Jun 2004
04-25-2008, 8:31 AM
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5 bucks next yr, hell its on its way to make that mark this yr. Diesel looks like it will easily make it to 5.
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Join Date: Jan 2008
04-25-2008, 8:33 AM
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Dude no offense, but most people in the financial community think of Cramer as pretty much of a joke. He is entertainment aimed at people that don't otherwise grasp corporate finance and investing. Funny guy, but not good for financial advice. Besides at this point he is just regurgitating what he hears from analysts unless he has an agenda. I can't dig up the link right now but it has been statistically proven that Cramer's picks are less often correct than random selection. Hell the tribune's monkey that throws darts at ticker symbols out picked him. Trust me, if he was half as good as he claims he wouldn't be on TV - and his wife wouldn't have had to bail out his hedge fund.
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Join Date: Apr 2006
04-25-2008, 8:52 AM
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The only thing that will keep this from happening the value of the dollar bounces back and these futures traders quit freaking out. (Message edited by 05mobiuslsv on April 25, 2008)
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Join Date: Aug 2006
04-25-2008, 11:01 AM
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nu bu - Exactly. The falling dollar value is a huge part of why fuel costs in the US are as high as they are. There are many publications ie; Wall Street Journal that predict we will see lower fuel cost over the next two years. All in all nu bu hit it on the head, it's easy for us to just assume the cost of fuel is rising (which it is), but the US dollar value has a lot to do with it as well.
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Join Date: Feb 2005
04-25-2008, 11:29 AM
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Cramer rarely wrong?! This is the same person that said keep your money in Bear/Stearns!!! Run from his advice. (Message edited by loudontn on April 25, 2008)
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Join Date: Jan 2005
04-25-2008, 12:49 PM
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gas prices really have gone out of control, check out this link i got emailed to me today.. http://worldnetdaily.com/index.php?fa=PAGE.view&pageId=62393
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Join Date: Apr 2006
04-25-2008, 1:17 PM
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Good post Ken..
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Join Date: Oct 2005
04-25-2008, 3:23 PM
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always invest opposite of Cramer I can't believe this guy is so widely praised
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Join Date: Aug 2002
04-25-2008, 6:20 PM
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Tells you how much I know I did not even spell his name right. I guess what scares me is that nobody is disagreeing that the cost of fuel is going to rise. I have made a personal decision to commit so much of my time and resources to grow our sport, its a real head pounder to see something come at us so hard and fast and we have absolutely no control of it. Like I stated before, I will always be in, but its the new family just starting out that is going to pass our sport up because of the costs.
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Join Date: Oct 2005
04-25-2008, 6:36 PM
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that's a good point Chris I thought about that even while I was typing my last post thing is......it's hard to argue I read some analyst's blog the other day that predicted $7 a gallon within 4 years ouch
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Join Date: Jan 2008
04-25-2008, 8:11 PM
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Personally, I would not object to rising fuel costs. My home lake has become so infested with idiots in huge Baja's and day cruisers, that riding on the weekend after 10 am (and even some weekdays) is a joke. Hopefully general economic woes and fuel issues will keep some of these boys at home this year and I'll see even more of these go fasts on the consignment lots. Don't get me wrong, I'm not a wealthy man. I just think higher fuel costs will make people choose how important boating is to them. The ones that still choose to boat will likely either be pretty wise boaters or ballers.
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Join Date: Apr 2004
04-25-2008, 9:05 PM
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Wakeboard boats have gone from 40k to 70k over the years and so gas has gone up too. A pro model used to be $200 and now its $600. I costs me $150 to fill up instead of $90 not much has changed if you look at the inflation on everything else right?
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Join Date: Oct 2005
04-25-2008, 10:02 PM
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yea Jimmy I saw an episode of Art Mann presents...on HD NET... that was about party cove on lake of the Ozarks wow makes lake Travis here in Texas look tame
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Join Date: Aug 2006
04-25-2008, 10:17 PM
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Nu Bu, if you like futures trading in oil read a book called "Rigged" it's a great read. It reads like fiction (narrative) but it's based on a rue story. I'm with ya though the futures trading on oil barrels has driven the price so high it's absurd and frustrating. I think we'll see it trend down in the next 18 months. Kramer's a joke!
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Join Date: Aug 2002
04-26-2008, 2:54 PM
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And we are in a commodities bubble, just like real estate was. The bubble will hopefully pop before 2012, and you are definitely better to sell short when Cramer says buy.
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Join Date: Oct 2006
04-27-2008, 9:37 AM
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Jim also said we would be having 4 dollar gas in December...
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