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Discussion Starter #1
I think most of us have been expecting this, and the DOW dropped 331 points. Hopefully, we aren't going back into a recession, looks like Europe is.
 

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I hope not too! ...Gas around my neighborhood is still above $2.00 at $2.17 to $2.23.
 

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Our wonderful governor here in Wisconsin wants to increase the state gas tax, which would be in addition to the Obama fed increase he wants to do.
 

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Our wonderful governor here in Wisconsin wants to increase the state gas tax, which would be in addition to the Obama fed increase he wants to do.
Here in Michigan they couldn't get anywhere on a gas tax increase so they decided to let voters chose whether to increase the sales tax instead. Yippee. GOP controls the House, Senate and Executive branch too. Limited government my butt!!!
 

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For as bad a shape as we are in, we're better off than most other countries, as far as our currency is concerned. I think we are going to have a global economic reset.
All the elite, including the folks at the Fed. will profit from it and the slate will be wiped clean.
The only problem is, like most liberal's, they haven't learned from their mistakes, or mistakes of others.
I'm talking about a world currency here, and they haven't learned from the Euro and Germany shoring up the rest of Europe.
 

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Thing is, when you do it intentionally it's not a mistake.
As long as they come out smelling like roses all is well.
 

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This is all phonyness which is an attempt to put American oil drillers out of business and to break America's new oil exporting power.

We have these islamodouchenozzles by the the throats, now - we need to go for the kill by preventing any exports from leaving the U.S. and requiring U.S. refiners to refine and sell domestic-only products. We could be divorced from having to protect the kingdom of Saud in all of its horrific "glory" from ISIS and the other 9-headed hydra of its own making.

Now is the time for our revenge, 60 years in the making!
 

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dont worry, it will go back up. you see, spring is unexpectedly coming around the bend, and refiners will have to "retool" for spring/summer blends... that they had no idea was coming.
 

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Discussion Starter #14
If all these jackass politicians get their way, and increase the gas taxes, just imagine what prices will go to when they rebound. Not if, but when.
I agree. I think all these douchebags who are politicians must have someway of getting more graft in their pockets every time they raise taxes. Otherwise, why would they raise taxes. We need to remember what we did with an oppressive Government when it raised taxes, we made a big old harbor full of tea!
 
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There's another issue here. The country being hurt the most by this is Russia. Pooty is a loose cannon; back him into a corner and there's no telling what that commie will do to "save" Russia from the evil West.
 

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There's another issue here. The country being hurt the most by this is Russia. Pooty is a loose cannon; back him into a corner and there's no telling what that commie will do to "save" Russia from the evil West.
I believe oil prices are fixed and right now oil is cheap because we are punishing Russia
 

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As much as I like cheaper gas, I don't like the way oil is going. I get an oil royalty check every month, not big, but part of my retirement money. May need to go back to work. Also affects the jobs here in ND oil boom area.
 

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If Russia goes belly up Putin and the other Russian Oligarchs will probably bag up their loot and sail their yachts to the Caribbean and retire will the peasants struggle for survival.
 

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Discussion Starter #19
We are now daily seeing how low priced oil is putting folks out of work. The nature of the oil business has most always been boom or bust. Saudi Arabia is the only single country with the ability to keep prices stable, and this time around, they don't want to.

In the bust of the mid 80's, we had enough manufacturing in the U.S. that the low oil prices energized other industries to take up the slack in the unemployment and the rest of the country became more productive, and it became good for the general economy, other than oil areas. This time around, I'm not so sure that will happen.
 

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We are now daily seeing how low priced oil is putting folks out of work. The nature of the oil business has most always been boom or bust. Saudi Arabia is the only single country with the ability to keep prices stable, and this time around, they don't want to.

In the bust of the mid 80's, we had enough manufacturing in the U.S. that the low oil prices energized other industries to take up the slack in the unemployment and the rest of the country became more productive, and it became good for the general economy, other than oil areas. This time around, I'm not so sure that will happen.

There is the dichotomy in trying to look at oil prices and the stock market in the same glance. A lot of the Stock market is directly or indirectly tied to profits from oil and the speculation on it. Lower oil prices are good for the Country in general, but not good for the stock market investors so when oil drops seriously the market looks shaky.

OTOH the investment money that is freed up in small and medium businesses does not immediately cause a rise in the market to offset the oil drop. It takes much more time for true growth, economically, to show up in the market than for a high profile issue like oil to cause a market drop.

IMHO it is time for people to wean themselves away from looking at the stock market as being the sign of how the economy is really doing.
 
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