Things are becoming cheaper and rich investors are taking it on the chin.
Most people won’t care the bottom has dropped out of their stock portfolios.
These economic morons don’t realize that oil is the thermometer of the global economy. They think the thermometer controls the weather. It is actually good news for energy users.
Pray America is waking
may, might, could...liberal "super geniuses" are wetting their panties with uncertainty.
Face it . There is a global recession. If economies were booming, there would be great demand for oil and its byproducts. The price would be stable if not rising. The phony mirage of economic progress due to borrowed and printed money, will come to its inevitable crashing end.
Is oil the symptom or the cause?
Sometimes a sale is a sign of distress...
Ya’ think?
Crashing Oil Prices Will Be Terrible ONLY For A Tiny Part Of The US Economy
http://www.businessinsider.com/energy-investment-a-small-share-of-gdp-2014-12
The long economic history of America has been one of displacements with loss of jobs in an area/or the nation and outdated and no longer needed skill sets. We call these eras, recessions.
Later, there is a positive economic shift up with increased jobs (with the exception of the Obama era) often in different geo areas and different needed skill sets. These eras are called economic booms or growth eras.
We get into trouble in geo areas and as a nation, when we try to $crew around with this reality. The ups and downs and dislocations and the following economic booms, which have made us the long lasting economic power we have been.
The sky is falling! Everyone Panic!
This really demonstrates how out of touch Obama is. Were Bill Clinton POTUS, he would be claiming credit for dropping oil prices at every opportunity.
Ironically, the reason Obama isn’t is because he is so ideologically rigid that he is miserable that oil prices are falling. Like many in his party, he wants gasoline prices at European levels, like $5-7 a gallon, because “gasoline is bad”, along with all other fossil fuels.
Remember that these Democrats were determined to “destroy coal”, to the point that this winter, New England is going to freeze its pasty-white rear end off, because they closed their energy producers hoping they could power it all with windmills. Idiots.
The bottom line is that this may initially cause some deflation, because of lower fuel prices. But then production will increase across the board.
The one group of people who will be getting screwed in the deal are those who are in Obamacare, because any increase in their wages will be more than offset by the hit they take to pay for higher medical costs.
When oil is heading south and gold is heading northnorth watch out.
Wow, who would ever have thought that?
Where do these people come from? Low oil prices are only bad if they are caused by falling demand.
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.
bkmk