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Let the bail out/rescue plan delay, oil will drop like a rock. Oil is the life blood of our economy, thus cheap oil making our economy stronger. And guess who loses big time in this scenario? OPEC
As just reported on Foxnews. Yeah, yeah, I was flipping through.
I saw that. He's absolutely right. What affects the average person more -- high oil/gas prices or a one-day 600-point drop on Wall Street? They said this drop isn't even in the top 10 of market drops. Let the financial institutions clean up their own mess.
It's amazing how someone who made a fortune on overpriced real estate knows the fundamentals as well. Energy is the lifeblood of all economies and I agree with him 100%.
But prices of all products will fall for the same reason as oil.Then unemployment will rise. But that may not be possible to avoid since monjey is so tight and companies will be cutting back because of lowering demand for alot of goods. The tech crashed pretty bad today but who is going to buy any of that when they can delay.
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