This transcript is automatically generated
Another gas price spike as oil rises to around 94 dollars a barrel joining the company from Chicago was breaking the -- -- -- it.
I want to know why is oil up so much recently.
When demand and the economies around the world are slowing down so -- -- don't know.
We first of all -- do we have to assume that demand is necessarily down if you look at some of the supplies and you look at some of the -- -- an ending stocks number of what's available those numbers are actually seasonably a little bit lower so that may suggest that some of those demand numbers that people have built into their ideas.
Or necessarily the case and let's be clear here the stock market just had a very good rally and oil chemical track along with that so oil was definite beginning at getting the benefit of the strong equity market at least in the last few weeks -- you expect a look at will look for trends and our view is one -- -- -- gas price trends.
Do the trend does the trend in gas prices and oil continued just go off.
It depends on your time horizon clearly in the short term I think we've got to pull back coming I'm not currently long crude I'm a little bit on the defensive because I think -- -- -- -- risk on risk off percent perspective.
I think that the stock market might be a little bit vulnerable here so I think crude could -- -- however in the long run I want to be an owner of things I want to be an owner of oil wells gas wells real estate things like that.
Because in my opinion.
As the world that -- our central banks gonna continue to print money the answer is without question yes and that is inflationary I don't wanna be long dollars I don't wanna be long currency I want to be long stuff.
And oil and oil wells are stuff.
I want last you a question which -- pass a lot of people I know Europe commodities trader -- -- you did announce at a moment's notice I understand all about well look I've been saying.
That a single family home in a good neighborhood is the best investment the best value investment -- you -- make today.
What do you say.
I agree and I'm putting my money where my mouth is I've been accumulating rental real estate properties for that very same reason.
And not to not to to disrespect the people who talk about gold.
But that is an exact same way to play that gold black people are buying gold because they don't want to -- the currency they want to own a heart asset.
Well a buying real estate accomplishes the exact same thing you're owner of something you've got favorable tax status for it.
You've got favorable lending against it things like that so why not rather than owned gold -- -- -- real estate I love it now I -- to be from Texas so why not buy some rental rental real estate properties in Texas where I happen to own some you make a very good case young -- and I appreciate that.
Take it ever everyone thank you very much and himself.