Author Topic: Goldman Sachs warns of large price increase in food and oil  (Read 1790 times)

Balog

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Goldman Sachs warns of large price increase in food and oil
« on: November 06, 2009, 05:19:24 PM »
http://www.guardian.co.uk/business/2009/nov/01/goldmansachs-population

All those survivalist nutjobs saying you should grow your own food are looking pretty smart now, eh?
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Headless Thompson Gunner

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #1 on: November 06, 2009, 06:01:02 PM »
Wasn't it the Goldman commodities people who predicted $15/gal gasoline a year ago?

MicroBalrog

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #2 on: November 06, 2009, 06:02:10 PM »
Goldman-Sachs is generally known for their business acumen and power of prediction.
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Gewehr98

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #3 on: November 06, 2009, 06:26:22 PM »
As HTG alluded to, they aren't exactly batting 1.000 on that gasoline prediction, are they?
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Balog

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #4 on: November 06, 2009, 06:31:15 PM »
Is there any financial prediction person/company that is %100 accurate at all times? Should I do a search on every prediction for the future people on this thread have made, then trot their failures out as proof that everything they say is wrong?
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If government is the answer, it must have been a really, really, really stupid question.

Headless Thompson Gunner

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #5 on: November 06, 2009, 06:36:46 PM »
Goldman has a habit of predicting massive price increases, especially their commodity people.  they have an incentive to convince people that prices are about to explode.

I mention their $15 gas prediction to illustrate the point.  It worked out great for Goldman, as it helped keep prices at $4 long enough for them to offload a bunch of their own oil futures right before the collapse happened.

Yes, it's true nobody is right all the time (or wrong all the time, for that matter).  Just be sure you know who you're listening to and why, and don't take too much risk based on someone else's predictions.

Balog

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #6 on: November 06, 2009, 06:39:15 PM »
Fair enough. Of course, I'm not sure how "be more self-sufficient" is ever a bad message.  =)
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If government is the answer, it must have been a really, really, really stupid question.

RocketMan

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #7 on: November 06, 2009, 07:40:19 PM »
Goldman Sachs tries to manipulate markets by making these predictions from time to time.  They are known for it.
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Fjolnirsson

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #8 on: November 06, 2009, 11:01:57 PM »
From what I am hearing, it's a bad year for corn and wheat, due to unseasonably cold and wet weather. Corn molding on the stalk, and wheat in fields too soggy for the tractors to run in...YMMV...
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KD5NRH

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #9 on: November 07, 2009, 05:22:03 AM »
Corn molding on the stalk, and wheat in fields too soggy for the tractors to run in...YMMV...

Clearly, the wheat farmers just need to replace their tractors with Dodge Quad-Cabs.   :mad:

seeker_two

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Re: Goldman Sachs warns of large price increase in food and oil
« Reply #10 on: November 07, 2009, 10:49:57 AM »
Goldman Sachs tries to manipulate markets by making these predictions from time to time.  They are known for it.

+1.....and I'll bet that G-S have a bunch of food & oil commodoties to sell....but we should probably listen to them....after all, their people are pretty much making US gov't fiscal policy.....
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