Posted on 12/16/2014 4:56:58 AM PST by thackney
Where do these people come from? Low oil prices are only bad if they are caused by falling demand.
If the Democrats and GOP-e would open up all that land and offshore space that they closed off in previous decades, then our oil industry could boom at lower prices. The frackers could simply move to offshore rigs or the Front Range, etc.
Weak demand does figure into this price decrease. Millennials are choosing to live in the city and take mass transit.
Not so sure. Where are the growth areas in the US? Silicon Valley? I don't think so. ND, SD, OK, TX, the oil boom states were certainly one of the growth areas in this country.
Not that is going bust, and one of the growth areas in the economy is gone. Plus the defaults on all the lending to the oil and oil service companies. Could be enough to start another big recession. If prices continue to get cheaper, that will be a big clue.
All the lies about economic numbers pushed out by the Obola administration these past 6 years are now coming home to roost.
We are seeing an exact repeat of the orchestrated recession Bush inherited from Clinton.
The price of oil was driven so low in 1999-2000 hundreds of thousands of jobs were lost here in the US and oil producing countries around the world had to pump more just to try and cover the cost of running their countries.
People better get their heads out of their butts and remember the 9/11 attack was an attack against the economy.
There was an orchestrated recession put into play in 1999 and at the same time the terrorist attack against the economy was being planned.
What you describe is white trash/ghetto/low info voter behavior.
A prudent person sees this as an opportunity to save up and prepare for the coming hard times.
So yeah, dumb people will go out and buy/lease a fancy/large car. Smart people will hunker down.
We all know hard times are coming.
bkmk
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