re: is the price per barrel of oil dropping a bad thing?

quote:

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If consumers use the money saved on gas to buy "things", then it is very good. If consumers use the money to pay down debt or save it, then it is deflationary. So we all need to do our duty and buy, buy, buy. I'm doing my part.

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I'm getting new golf clubs, gym equipment and a few things to keep my g/f happy shipped over in my company supplied container. I won't be living in the US, paying US taxes so the general topic is irrelevant to me.

However, yellowfin is spot on. I'd wager 50% or more of the people employed in the areas where massive layoffs are already scheduled are residents of Louisiana.

While most of the US will benefit from reduced consumer costs, Louisiana will have the same consumer costs but an inflated unemployment percentage.


IMO this is a minimum 2 year setback for the local economy.