[blam]

OIL IS CRASHING ($68.90 Bl)

Russia's Most Powerful Oil Official Says Oil Could Fall Below $60 In The Next Few Months

[Jack Hydrazine]

Despite Higher GDP, U.S. Economic Data Continues to Disappoint
https://www.youtube.com/watch?v=9tth-vFM0lA

[Pontiac]

It shows us the huge extent to which consumer spending is falling, how much poorer people have become as stock markets set records.

The only reason the stock market is soaring is because the Fed keeps pumping worthless dollars in to the economy.

Those dollars having nowhere else to go are driving up the price (not value) of stock.

[DJ MacWoW]

End It By Christmas?

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[Usagi_yo]

I think the U.S has the most influence with the Sauds. I was thinking earlier last month that this was part of a campaign to starve Putin while at the same time Putin is dumping as much oil as they can.

Then again, what is the ISIS (Eurasia) factor in this? They were dumping oil on the black market too. Is the result of trying to starve them? Because surely the amount they were dumping was insignificant really. Unless they have it piped to Turkey who I have a suspicion cultured ISIS.

Or again, is this some type of result from the concerted effort of our ‘competitors’ trying to de-monopolize the Petro-dollar?

Or again, is fracking so lucrative that the U.S — which has recently become the biggest exporter of oil — driving prices down?

I think it’s anything but a sign of a bad economy. I think it’s a good thing and that it will help jump start the economy. I’m still worried that it would be a false start, but a start it would be. I don’t think QE and low oil prices go together. The stock market scares me cause I don’t know if it’s going to skyrocket on recovery or crash when realistic projections are brought into line.

The world is going to change quite quickly over the next two years as our ‘competitors’ try and wring the last drop from Obama’s America.

[SaxxonWoods]

Another article by someone who is wrong.

http://inflationdata.com/Inflation/Inflation_Rate/Historical_Oil_Prices_Chart.asp

Here are oil prices from 1946 to present adjusted for inflation.

There is no “crash” in real dollar terms.

[Recompennation]

First of the mont times youd youse (Sto ownas that is) to count on real hustle and bustle with govt muny spenders stimbulating the economy riding and spendin aimlessly nation wide you’re covered Kevin style....And...
Now the people people are out there and loving it all month it WOULD appear. Got’s ta be bolstering those gas prices with nonproductive demand?

[SaxxonWoods]

“It shows us the huge extent to which consumer spending is falling...”

This guy likes to make stuff up.

Latest figures on consumer spending (Oct) show an increase of .2%.

That’s not strong at all, but it’s an increase, not a drop to the huge extent he claims. That’s why this guy didn’t give any figures, they don’t fit his narrative.

The economy is not doing great, but this guy has no idea why.

[Trteamer]

I drive a lot at work. The lower gas prices are giving me more expendable dollars, so that is good for the economy. I’m glad to see gas prices getting back down to what they should be. The government does not get as much in tax dollars, but that’s just tough....

[Southack]

Consumer spending is up, and the only people who think that the economy is doing poorly in the U.S. are the long-term unemployed.

We’re probably headed for 3.9% GDP growth in the 4th Q.

[Gil4]

“We should be glad the price of oil has fallen the way it has (losing another 6% today as I write this). Not because it makes the gas in our cars a bit cheaper, that’s nothing compared to the other service the price slump provides. That is, it allows us to see how the economy is really doing, without the multilayered veil of propaganda, spin, fixed data and bailouts and handouts for the banking system. “

The other day I filled up and I was pretty happy, and it had absolutely nothing to do with that and everything to do with the fact that it was under $45 and it hadn’t been below $50 in ages.

[TheMole]

There's some truth in what this guy says, but he's overdoing it. Some other factors at play are: 1. there's a lot of oil on the market (very newsworthy in itself, indicating that fracking is real and Peak Oil isn't) 2. natural gas has replaced oil for a lot of things, like home heating oil 3. vehicles are more efficient, causing many metropolitan areas to consume less gasoline than 20 years ago despite having more cars on the road.

Oil prices are one-third lower than just a couple of months ago. There is going to be some improvement in the economy and you'll see it pretty quickly.

[mosesdapoet]

When they throw this price of gas stuff at US this never gets discussed.
It’s not the dollar ammount value that should be of concern but the purchasing power value of the dollar. When gas was well below $1.00 a gallon what was the barrel head cost ? What could we buy for a buck then, that costs 10X more today.

The question that should be asked is why ?

While much of todays barrel head quotes include the additional cost of drilling for and processing shale oil.The symptoms get discussed but not the disease .