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Message
All major indexes down 3.3% or more today because of rout in oil, slowing demand
Posted on 1/15/16 at 11:43 am
Posted on 1/15/16 at 11:43 am
I thought cheap oil/gas was good for the rest of the US/world? Shouldn't everyone be pouring the money they're saving on fuel into other forms of discretionary spending?
Nope, retail sales were down in December and flat if you exclude autos/gasoline. Economists expected a .4% increase.
Hey, who cares if the stock market is down 9% since the start of the year, as long as I get to save a few pennies at the pump baby!!!
Perhaps paying $1.65 at the pump shouldn't be celebrated once you understand the global dynamics that have gotten us to this level. Whether you believe oil is a catalyst that is dragging down the market or you think oil is just an indicator of much bigger global problems, one thing is for certain in 2016 - lower oil hasn't translated to anything good for the vast majority of sectors in this country.
Nope, retail sales were down in December and flat if you exclude autos/gasoline. Economists expected a .4% increase.
Hey, who cares if the stock market is down 9% since the start of the year, as long as I get to save a few pennies at the pump baby!!!
Perhaps paying $1.65 at the pump shouldn't be celebrated once you understand the global dynamics that have gotten us to this level. Whether you believe oil is a catalyst that is dragging down the market or you think oil is just an indicator of much bigger global problems, one thing is for certain in 2016 - lower oil hasn't translated to anything good for the vast majority of sectors in this country.
22
Posted on 1/15/16 at 11:45 am to slackster
Nope, I'm loving my cheap gas and expensive bitcoin
Is there a truck nuts option on Teslas?
Is there a truck nuts option on Teslas?
This post was edited on 1/15/16 at 11:47 am
Posted on 1/15/16 at 11:46 am to slackster
Dollar gas!
Posted on 1/15/16 at 11:46 am to slackster
Great time to BUY!!
With the election coming and the aftermath, ISIS and all that ME crap.....will be $80 by summer 2017...like clock work
With the election coming and the aftermath, ISIS and all that ME crap.....will be $80 by summer 2017...like clock work
Posted on 1/15/16 at 11:46 am to slackster
quote:
Perhaps paying $1.65 at the pump shouldn't be celebrated
$1.49 this morning. I celebrated a little to myself. I work in the industry too.
Posted on 1/15/16 at 11:46 am to slackster
You never hear those politicians chanting Drill Baby Drill! anymore
weird
weird
Posted on 1/15/16 at 11:46 am to joshnorris14
Bitcoins? Well at least I know that your opinion can be disregarded.
Posted on 1/15/16 at 11:47 am to Kujo
quote:Lafayette thanks you!
With the election coming and the aftermath, ISIS and all that ME crap.....will be $80 by summer 2017...like clock work
Posted on 1/15/16 at 11:47 am to slackster
Even Phil Mickelson is in shock.
Posted on 1/15/16 at 11:49 am to ShoeBang
quote:
$1.49 this morning. I celebrated a little to myself. I work in the industry too.
I mean I get it - people like paying as little as possible for a product. However, if paying $12 more for each tank ($.80 more per gallon on a 15-gallon tank) means that the global economy can continue to grow, isn't that better than the alternative?
ETA: I'm not saying that higher oil is going to lead the world to more growth. My point is that higher oil at this point would be, a the very least, a strong indicator for the future growth prospects across the world.
This post was edited on 1/15/16 at 11:56 am
Posted on 1/15/16 at 11:49 am to TejasHorn
i have no money in stock market. I dont care. My job is paying me right on, gas is cheap, all is well
Posted on 1/15/16 at 11:52 am to slackster
gonna fill up on the way home. will probably think about how to spend my new found cash.
Posted on 1/15/16 at 11:52 am to oleyeller
quote:
i have no money in stock market. I dont care. My job is paying me right on, gas is cheap, all is well
What a profound outlook you have on the world. I remember when I was 18.
Of course there are exceptions to the OP, but nothing that is happening right now is good for the majority of the working public in America.
Posted on 1/15/16 at 11:53 am to slackster
quote:
if paying $12 more for each tank ($.80 more per gallon on a 15-gallon tank) means that the global economy can continue to grow, isn't that better than the alternative?
Of course. Tongue was planted in cheek on that post. Believe me. I survived a 130 million dollar cost reduction in my company, most of which was headcount related. Lucky to say the least.
Posted on 1/15/16 at 11:55 am to oleyeller
quote:
i have no money in stock market.
Posted on 1/15/16 at 11:56 am to slackster
quote:
Perhaps paying $1.65 at the pump shouldn't be celebrated
You're right... but I paid $1.56!!
Posted on 1/15/16 at 11:57 am to oleyeller
quote:
have no money in stock market. I dont care
There are serious morons in these threads. Jesus Christmas.
Posted on 1/15/16 at 11:57 am to slackster
I don't care, the stock market rides cycles. Oil does too. Everyone with a brain knows this. Essentially, deal with it.
- also if you think everything that is going on is simply due to oil, you are an idiot.
- also if you think everything that is going on is simply due to oil, you are an idiot.
This post was edited on 1/15/16 at 11:58 am
Posted on 1/15/16 at 11:57 am to slackster
Massive volatility isn't good for just about anyone in the short term except high frequency trading firms.
Posted on 1/15/16 at 12:00 pm to slackster
Correlation is not causation. The market and oil are both down because of fears of a slowing world economy. The oil collapse didn't cause the stock market to fall.
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