{"id":38510,"date":"2018-09-30T06:24:38","date_gmt":"2018-09-30T11:24:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=38510"},"modified":"2018-09-30T06:24:38","modified_gmt":"2018-09-30T11:24:38","slug":"oil-mania-redux","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=38510","title":{"rendered":"Oil Mania Redux"},"content":{"rendered":"
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Oil Mania Redux<\/a><\/h3>\n

Positive Energy<\/b><\/p>\n

By now, late September of 2018, it has become increasingly evident that something big is about to happen.\u00a0What exactly that may be is anyone\u2019s guess.\u00a0 But, whatever it is, we suggest you prepare for it now\u2026 before it is too late.<\/p>\n

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Art auction energizer: Norman Rockwell\u2019s portrait of John Wayne. You can\u2019t go wrong shelling out top dollar for me, pilgrim, can you? [PT]<\/p>\n

Several weeks ago, if you haven\u2019t heard, an undisclosed rich guy enthusiastically bid up and then bought Norman Rockwell\u2019s portrait of John Wayne for a cool $1.49 million at the 12th Annual Jackson Hole Art Auction.\u00a0According to auction coordinator\u00a0<\/span>\u00a0Madison Webb<\/a>,\u00a0<\/span>\u201cThere was a really positive energy in the room.\u201d<\/p>\n

Indeed, it takes a lot of really positive energy \u2013 and a healthy bank account \u2013 to shell out that sum of money for a painting of \u201cThe Duke.\u201d\u00a0 Still, positive energy, like good weather, can quickly turn negative.\u00a0Soon enough, we suppose, the purchaser\u2019s excitement will transform into a serious case of buyer\u2019s remorse.<\/p>\n

Of course, we could be wrong.\u00a0 The buyer could have a special liking for old John Wayne movies.\u00a0 Perhaps he\u2019s a collector of Norman Rockwell paintings.\u00a0 Or maybe he won the lottery and is compelled to burn through his winnings in odd and outlandish ways.<\/p>\n

What this has to do with anything is a bit of a stretch.\u00a0 But art, if this qualifies as such, offers a rough barometer of social mood (see:\u00a0 <\/span>The Bubble in Modern Art<\/span><\/a>).\u00a0Moreover, when the price for a painting of a 20th<\/sup> century actor pretending to be a 19th<\/sup> century character of American nostalgia sells at nearly a million and a half bucks, we suspect something more is at work.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil Mania Redux Positive Energy By now, late September of 2018, it has become increasingly evident that something big is about to happen.\u00a0What exactly that may be is anyone\u2019s guess.\u00a0 But, whatever it is, we suggest you prepare for it now\u2026 before it is too late. Art auction energizer: Norman Rockwell\u2019s portrait of John Wayne. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[5728,11763,2245,592],"class_list":["post-38510","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-acting-man","tag-mn-gordon","tag-oil-market","tag-oil-price"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38510"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38510\/revisions"}],"predecessor-version":[{"id":38511,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38510\/revisions\/38511"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}