Please explain those little jewels below then
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Originally Posted by bkkandrew given massive price elasticity (obvious to most, but of course, not you), this can quite easliy produce price rises of 1000's of percent. |
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Originally Posted by bkkandrew ^Price elasticity, not demand elasticity. Spot the difference? |
Priceless, you couldn't make that shit up, obviously you have no idea what is elasticity. Price elasticity of what, troll ?
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Originally Posted by bkkandrew On this thread, people have been referring to the fact that the price is elastic relating to oil in the short term, as oil and its byproducts are essential to life. Any disposable income by both individuals or companies will be used to fund any price increase, up to the point when disposable income is reduced to zero. This is the same as the price elasticity of food. Once the price goes beyond the level that can be afforded by total disposable income individuals riot (as has been happening) and companies collapse in part or whole, see airlines going bankrupt, or reducing their operations. |
Quoting for posterity, so explain again why demand is going down since you were predicting that people will buy oil until they went bankrupt,
I don't see riots, I don't see people going bankrupt over oil, all I see, is a reduction in demand,