Is The Economy Just Now Falling Apart

[Myles O'Reilly]

From your viewpoint maybe. But how is it different from cattle for example. I buy 5 cattle and they go up and I sell them for a profit. Fair enough.
But if I buy and the price goes down I am supposed to pass good fortune onto my customer. No. I must sell my cattle for as much as I can regardless.
I am not Mother Theresa or Santa.

Cattle are a different commodity. According to that logic everything should be sold to make maximum profit and there should be no laws against it eg Cartel behaviour etc.

People have to buy fuel regardless of price. So folk aren't going to buy more petrol in say January because it was $1.50 compared to March when its $2.00. The Govt here are investigating petrol station's price gouging especially when they took 15/20 cent off in tax but many stations didn't pass that onto the customer.

 

[Declan]

. The Govt here are investigating petrol station's price gouging especially when they took 15/20 cent off in tax but many stations didn't pass that onto the customer.

The government are the gougers, taking about a euro for themselves for no effort. The lad in the garage has to build it and pay his ongoing costs etc etc

 

[Declan]

My local filling station has no agricultural diesel to day.

I suspect there will be no road diesel in many garages soon. Each new load is higher priced than the last.

Meanwhile Finland is opening a nuclear power plant. https://www.theguardian.com/environ...dFVgTCFcjGeKj6pn9AcvYWHmjkoQ3KZX2Ri0CNndGYQnQ

Do farmers buy at stations. I thought all farmers would have their own tank and have it delivered

 

[Declan]

I say diesel here at $5.60, a full dollar more than gas/petrol. Much bigger spread than normal

 

[Declan]

Most have a tank and buy a load, there is a problem with short deliveries if the farmer is not home. Then there is theft.

I find 1,000 does not last long.

1000 liters??

Is the 300 gallon tank the usual or are they bigger.

How many hours to a gallon.
For a 35 and for the modern super tractors.

Will regular farmer revert to the 35 and 165.

 

[Declan]

There are plastic fuel tanks down at the Co-op. I looked at them and they vary from 920 litres to 1,100 litres. That is
200 Irish gallons or 240 US. I would say a US gallon would do a 35 for 2 hours working. I hear the modern big ones would
gulp it. I have a Ford 4,000. it would do 2 hours. a Fiat 90/90 it would 1.7 which I mostly use about the yard and mowing and Big tractor
which I would think would only go 50 minutes.

I never check it exactly.

One of my contractors has a huge steel tank, There are three brothers and they must have 6 large tractors all Case.

That is not too bad. I imagine the 4000 is good enough for most jobs and even a rare 10 hour day is only 5 gallon or 20 euro.

 

[Declan]

From 11.40 to 28 euros. The whole thing is going down. In a week we could be screwed

 

[Declan]

CBOE Interest Rate 10 Year T No (^TNX) Charts, Data & News - Yahoo Finance

Find the latest information on CBOE Interest Rate 10 Year T No (^TNX) including data, charts, related news and more from Yahoo Finance

finance.yahoo.com

It is all about interest rates here. The 10 year is what mortages and loans are tied to. 2% on the 10 year bond is the breaking point(according to some). Today the price is down which means the interest rate is up. At 2.13% , this has swung the Dow about 500 points with about 90 minutes to go.

 

[Myles O'Reilly]

Road diesel is dearer than petrol in Ireland, about 3 cent

I can't remember the last time that was. Was it when the Greens hiked the price of petrol around 2008 or before that?

 

[Myles O'Reilly]

I have a Ford 4,000. it would do 2 hours. a Fiat 90/90 it would 1.7 which I mostly use about the yard and mowing and Big tractor

What's your road Bus Sir? I know a couple of local farmers and they drive either pickups or Landys.

Years ago you'd see farmers pulling horseboxes and trailer loads of turf etc in ordinary Saloons (eg Cortina) but most seem to have 4x4's these days.

 

[Myles O'Reilly]

My mower conditioner.

Is that essentially a big mulcher?

 

[Declan]

Today the Fed raises the rate. Maybe they surprise and go for 0.5%

 

[Myles O'Reilly]

The TDI's are a great engine. As long as the oil and filters are looked after. Mate let his oil go low and ended up with a 4k rebuild.

 

[Declan]

The mot important issue today is the sell off in bonds that is thereby raising the interest rates. The 10years now is touching 2.3%.

Mortgage rates rise of course in tandem. The real estate crash could be epic.

One of these days we are likely to see a failing US Treasury Bond auction. Where they can not sell the entire issue without the rates jumping. This will be something to see.

 

[Declan]

I do not follow Japan but an interest development has happened. In a time where central banks are supposedly stopping buying bonds, the japanese central bank says that it will not let the interest rate on the japanese 10 year bond go above 0.25%. To insure this does not happen, it is committing to buy unlimited amounts of these bonds with of course printed yen. And with that, the yen fell like a stone and still the rate went to 0.256%. So they tonight and onwards, are facing what the US might have to face soon.
The government debt in Japan is about 3 times larger relatively speaking than the US debt.
I look forward to ther Asian markets opening in a short while for Tuesday trade

 

[Declan]

Is it true that America promised Saudi Arabia military protection inn return for it pricing its oil in dollars?

Yes. That was the quid quo pro.

I would point out now that Saudi are backing the new stronger horse
. Russia.

 

[Declan]

In the other thread. I linked to an article that putthe proposal forward, that Putins real objective was to grab the oil, gas, iron and other minerals and resources in the East. A good article.

 

[Declan]

Interest rates rising yesterday and again today is going to result in a lot of money lost in bonds and stocks. Hold on tight.

 

[Myles O'Reilly]

If things keep going as they are Dan Jnr will have to offload the Stang asap.

I'm running a diesel Corolla to keep costs down. Americans might have to consider going compact also if this oil crises deepens.

Well I used the brim method (fill tank to brim, set trip clock to zero, drive til empty light comes on, brim again and divide amount of litres/gallons by miles driven to get exact mpg) on this Corolla I got and I've recorded 52mpg (43mpg US) from almost exclusively short trips in an urban area.

This is incredibly good. If I was mainly driving on B roads and Motorways it'd be up to 70!

The car is very good on fuel but a lot of this is down to driving economically also.

 

[Declan]

Well I used the brim method (fill tank to brim, set trip clock to zero, drive til empty light comes on, brim again and divide amount of litres/gallons by miles driven to get exact mpg) on this Corolla I got and I've recorded 52mpg (43mpg US) from almost exclusively short trips in an urban area.

This is incredibly good. If I was mainly driving on B roads and Motorways it'd be up to 70!

The car is very good on fuel but a lot of this is down to driving economically also.

I must buy a car over there but I am not sure about insurance. Here you insurw the care and everyone can drive it basically.

But I guess I could not for example get the loan of yours for a quick run down to Athy.