Oil Prices plunge in record selloff (costs, recession, paying, stock market)
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Amazing how that would happen! Why would people loosing their jobs, houses, and values in brokerage accounts leading to people driving and going out less would have done something like...drop demand for fuel. Economics 101 said something about demand dropping and price dropping... incredible! It's a conspiracy.
People have been losing their jobs, homes, etc for four years now and the stock market has continued to rally. The recession may be over for the big investors on Wall St but on Main St it never ended and there is no end in sight. During the Bush years people complained that the economic expansion was only benefiting the rich. This current "recovery" is the Bush recovery on steroids. If you aren't a millionaire CEO, you would not even know the recession has ended.
A barrel of oil is $104.00. Thats total bull****. Its all about greed.
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Originally Posted by NJBest
I'm quite happy with it.
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Originally Posted by steel7
I bet you wouldn't say that if you were living paycheck to paycheck or out of work or just struggling to survive in this world.
I wish no ill will on anyone, but I actually benefit from oil going up because oil and gold follow each other up and down. I am poor myself, but back in December I knew inflation was going to hit so I leveraged 10 troy ounces of gold with only a $2,000 deposit at Forex.com. The profits have greatly outpaced any increase I am paying at the pump or truck freighted goods including food.
I bet you wouldnt say that if you were living paycheck to paycheck or out of work or just struggling to survive in this world.
You have to have had some misguided balls to think oil was going to stay in it's 30s two years ago. It was an obvious buy.
If my money was tight, I wouldn't be concerned with oil prices. I'l be concerned with gasoline prices and why they dsisonnected from from oil prices even though there's been no change to out refinery output.
I urge everyone to be hedged against rising oil prices for the long term. My calculations estimate oil to reach $200 by 2017.
I can't figure out why the very supporters of the no holds barred capitalistic system think the oil companies shouldn't get the maximum profit for their product. This kind of relentless price hiking is the very core stuff of capitalism, the theory is that the "market demand" will mitigate such price structures, in other words folks will simply not buy the gas if it gets too high priced. Theory doesn't always pan out in real time practice for the fact that commodities such as fuel are not always discretionary purchases, especially in this car driven suburbia where most commute long distance to work. If you support the "right" of business to charge whatever it wants then you'll have to shut up at the pump and get bent over, period.......
I can't figure out why the very supporters of the no holds barred capitalistic system think the oil companies shouldn't get the maximum profit for their product. This kind of relentless price hiking is the very core stuff of capitalism, the theory is that the "market demand" will mitigate such price structures, in other words folks will simply not buy the gas if it gets too high priced. Theory doesn't always pan out in real time practice for the fact that commodities such as fuel are not always discretionary purchases, especially in this car driven suburbia where most commute long distance to work. If you support the "right" of business to charge whatever it wants then you'll have to shut up at the pump and get bent over, period.......
About like the capitalists of the upper-end, are the wantabe capitalists below.
When there is money to be made it is all MINE, MINE, MINE.
When there is expense -- it is to be dumped on all others -- whether pollution, debt, depleted resources.
Make sure you leave out any self-responsibility and that completes the picture.
Just think "childhood selfish" and I think you can figure it out pretty well.
The oil drop was very temporary, it is already back above $104 and rising. I predict by the end of the week we will be back at $114 and headed into new multi-year highs.
Almost touched $100 today, currently waffling between $101 and $102.
About like the capitalists of the upper-end, are the wantabe capitalists below.
When there is money to be made it is all MINE, MINE, MINE.
When there is expense -- it is to be dumped on all others -- whether pollution, debt, depleted resources.
Make sure you leave out any self-responsibility and that completes the picture.
Just think "childhood selfish" and I think you can figure it out pretty well.
Selfishness was the mantra that sold the low proles on the American dream in the first place, it came from Madison avenue as was adequately pointed out in several books on the subject of consumerism in the fifties and sixties. Self restraint/responsibility wasn't the driving force that led the US economy on it's spectacular rise after world war two, the me me me, buy buy buy thinking was completely in line with what advertisers saw as the one thing that would ignite the firestorm of mindless buying, that's been the big unspoken aspect of our so called "economic miracle". Our economy didn't happen in a vacuum, it is the product of advertising and brainwashing of a people that previously hadn't always acted in their own self interest over that of others..
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