Source: JT Long of The Energy Report (10/1/13) An economic recovery that isn't one. A civil war that isn't one. Cheap oil that is no more. According to Bob Moriarty, resources remain one of the few absolutes in the world. In this The Energy Report interview, Bob explains why he's sticking to resources when many investors are turning to the mainstream markets, and shares long-term opportunities for shale oil in New Zealand and coal bed methane in Indonesia. The Energy Report: The last time we chatted, you were adamant that the U.S. is not in recovery. Does the Fed's decision to continue tapering prove you right? Bob Moriarty: Of course. Tapering spends money without improving things. The Dow and the S&P are at record highs. That's a good thing, but only 12% of Americans own any shares at all, including in a retirement fund. At the very best, tapering is helping only that 12%. The reality is that you're helping the 1%. The 1% is doing very well, but 99% are getting further behind. Plus, we're increasing the debt. One of these days it will blow sky high. I don't know whether the Fed will blow up or if the 10-year Treasury yield will, but this is a very dangerous time. TER: When we talked to James Dines, he said bonds would take a big hit. Are you worried about that? BM: Of course. The 10-year Treasury is very important because home mortgage prices are set using that as a base. A little over a year ago, the 10-year Treasury was 1.45%; a couple of weeks ago, it hit 3%. The theory behind not having a taper was that the yield curve would go down. When Bernanke announced there would be no taper, the yield curve was 2.86%. Now, it's 2.75%. There has been almost no impact. If the 10-year Treasury goes through 3 or 3.25%, we're going to see Armageddon.