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re: Schlumberger announces 9000 job cuts due to low oil prices
Posted on 1/15/15 at 7:50 pm to When in Rome
Posted on 1/15/15 at 7:50 pm to When in Rome
Any chance this drives the economy into another recession?
4
Posted on 1/15/15 at 7:52 pm to euphemus
quote:
Those unexpected extra billions didn’t all go to retailers—in fact less a third of the windfall did. U.S. consumers actually used a big chunk to drive more, go to the movies more and eat out more.
quote:
Any chance this drives the economy into another recession?
Doesn't look like recession behavior to me...!
Posted on 1/15/15 at 8:01 pm to euphemus
quote:
Any chance this drives the economy into another recession?
thats what I am wondering. A lot of banks loaned money to drill wells and they are gonna get screwed. Not to mention all the banks that made the loans on the trucks, boats, and houses this board hates so much. I haven't known of banks to take a fricking and not pass it along. Plus all these jobs were making oil field money so the economies where these people lived will feel it.
Posted on 1/15/15 at 8:21 pm to euphemus
quote:
Any chance this drives the economy into another recession?
This will have the opposite effect. More money to the average consumers will boost other industries. Local economies will feel the pain though.
Posted on 1/15/15 at 8:56 pm to euphemus
quote:
Any chance this drives the economy into another recession?
the opposite is more likely true. why on earth would fricking low oil prices cause a recession?
it's more like there's going to be a surplus of ugly arse trucks on the market
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