"What-crash?" ping.
"What-crash?" ping.
Although I think lower prices will definitely help the economy it would seem to me such a drastic drop would initially have a negative effect on GDP. Keep in mind this drop in oil not a reaction to a major economic downturn like in 2008.
"WE'RE DOOMED!!"
A decline in oil prices will be good for consumers but the problem as I see it is that oil is just late to the general commodity slide which would indicate a global slowdown in economies. That would be a bad thing.
Amazing. 37 posts so far and no one has touched on the second part of discussion on this thread, what effect will the cowardly, gutless, spineless, opportunists in DC have. AS far as I’m concerned it is SNAFU (situation normal all F’ed up). One thing I’m pretty sure of is the slime ball ruling class, being the opportunists they are, will try to take advantage of the dip in fuel costs to increase fuel taxes. That is not just in DC but state houses all around the country. Here in California we have ‘carbon taxes” taking effect on the first of the year. Our only saving grace was these passed when prices were high. I shudder to think what they would have been if they had foreseen this opportunity.
International russian roulette? Thanks for the ping; posts. I’ll be watching closely.