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re: For those gloating about oil:Falling oil means rising foreclosures in oil states
Posted on 1/14/16 at 2:06 pm to SlowFlowPro
Posted on 1/14/16 at 2:06 pm to SlowFlowPro
Define what you mean by China's bubble bursting
1
Posted on 1/14/16 at 2:06 pm to RogerTheShrubber
quote:
Globally we may be looking at a deflationary depression
yes. we are in an inflationary bubble and when it pops, we will find deflation
Posted on 1/14/16 at 2:07 pm to Sao
quote:
Define what you mean by China's bubble bursting
China's economy is more a phantom economy through state interjection of money and inflation than an actual economy
that stock market plunge was likely a sign that the market is correcting itself
Posted on 1/14/16 at 2:08 pm to ULSU
quote:
Yeah, bought a $400k house and a King Ranch because they made $120k one year, when the business is cyclical, and they have no other skill set.
I agree with this to an extent and personally know people in this situation and all I can do is SMH. But I have an engineering degree and have spent my entire working career in this industry. I didn't pay close to that much for my house, buy used vehicles, and have cleared that income for the last few years. I am WORRIED. I've got savings to get me through roughly a year. We won't lose the house. But if I lose my job, it's starting from scratch in a new industry making 60% of what I do now, or wait for this to turn around.
I think $4 gas is inflated. I think $1.50 gas is low though. In 2005, I remember gas jumping from 1.90 to like 2.09 after Katrina and we were piiiiiiiissed
. After that, $2.00 gas was here to stay. That was 11 years ago and I can see inflation putting us in $2.50 - $2.80 range and it being "reasonable" for all involved. The current prices are purely due to glut in supply, which will change. And the rate at which projects are being shut down, production will not be able to ramp back up because everyone cancelled their wells. I hope we settle at a good price, but I have a feeling this will swing hard in the opposite direction at some point. May be 2 years from now, but I think it's coming. This post was edited on 1/14/16 at 3:12 pm
Posted on 1/14/16 at 2:08 pm to 13SaintTiger
quote:
I'll stick around. It's amusing to me how many of LA residents who have never left the state for anything more than a vacation thinks the whole world revolves around Louisiana.
LA is small potatoes. look towards places like Houston
Texas created more jobs the past 5-6 years than the rest of the country combined for one reason: oil
oil creating an economic crunch means major national hubs for employment are about to get hit hard
Posted on 1/14/16 at 2:09 pm to SlowFlowPro
You just described America since 1999.
We've doubled the indexes since Bush... do you think the sole correction we'll face is due to oil??
We've doubled the indexes since Bush... do you think the sole correction we'll face is due to oil??
This post was edited on 1/14/16 at 2:11 pm
Posted on 1/14/16 at 2:11 pm to RogerTheShrubber
quote:
Maybe people shouldn't live like the gravy train will never end. People used to live frugally so they could weather the lows in the economy. Now, people are maxed out.
you're saying this as if they knew any better. they are proving hand over fist that they didn't know/understand (be it from low HS education to poor family history/background or whatever it could be). so now it's just a "ho-hum, too bad for them" approach? pretty American of you.
quote:
That's funny. Just left a luncheon that went into great detail about how despite the low oil prices, Lafayette and Lake Charles both are doing better than ever in other markets. Baton Rouge I know is bringing in more business with IBM and the water campus of the south or whatever the hell it is called.
yes, this is GREAT for the educated population. But what will happen to the +40,000 oil field experienced workers who only know that sector & likely only have a HS education + on the job training...? you can't say you expect them ALL to go to trade school or training all at once to catch up to the growing markets in BR/Laf/LC...
Posted on 1/14/16 at 2:11 pm to Sao
quote:
We've doubled the indexes since Bush... do you think the sole correction we'll face is due to oil??
oil price is a symptom. not a reason
Posted on 1/14/16 at 2:13 pm to RedRifle
I'm not gloating at all, but there are many factors that affect the economy in all areas of the country.
It's why I tell people that when times are good, be sure you are saving money, because they might not always be so good, and you have to plan for that.
It's why I tell people that when times are good, be sure you are saving money, because they might not always be so good, and you have to plan for that.
Posted on 1/14/16 at 2:19 pm to SlowFlowPro
A symptom of what? That big oil needs to think longterm, finally, instead of riding fossil fuel exclusively? frick those greedy assholes.
Posted on 1/14/16 at 2:20 pm to Sao
quote:
A symptom of what?
our shaky economic standing and our bubble economy
Posted on 1/14/16 at 2:22 pm to forever lsu30
FREE community college, FREE trade school, FREE college for all
- Bernie Sanders
- Bernie Sanders
Posted on 1/14/16 at 2:26 pm to SlowFlowPro
quote:
national, possibly international economic depression
not sheriff srsPosted on 1/14/16 at 2:28 pm to rocket31
i'm talking bubbles and nothing more
I live in LA but we're in the refining portion and not drilling portion so we are going to keep on rolling unless the world stops using gas
I live in LA but we're in the refining portion and not drilling portion so we are going to keep on rolling unless the world stops using gas
Posted on 1/14/16 at 2:35 pm to SlowFlowPro
journalists write sensational headlines for clicks - doomsday scenarios are overblown.
oil producing nations suffer, most other nations benefit
we are unique in that we have huge oil producing industry that is losing money, but also a huge manufacturing and service sector that will benefit
oil producing nations suffer, most other nations benefit
we are unique in that we have huge oil producing industry that is losing money, but also a huge manufacturing and service sector that will benefit
This post was edited on 1/14/16 at 2:36 pm
Posted on 1/14/16 at 2:39 pm to rocket31
Too much global debt, you may be in for a surprise
Posted on 1/14/16 at 2:46 pm to rocket31
I don't know, man. What the Fed does is way over my head, but it feels like they are out of bullets and we are going back to '08. I read a lot of doom to be sure, but what these articles are saying is that the US/world economy are bloated on debt and that cycle has to come to an end. What's scary is the bond stuff and all of leveraging/betting with tranches, CDO's, shorts.
Posted on 1/14/16 at 2:49 pm to Poncho
quote:
For those gloating about oil:Falling oil means rising foreclosures in oil states
Good now I'll take Baw's house, too.
Don't try and make me feel sorry for those rednecks who flaunted their jacked-up trucks and GF's fake tits all those years without even graduating high school while I was doing it by the book and putting my time in through 8 years of school.
Cheap Gas. Cheap Ford Raptors. Cheap Ex-Girlfriends. Now Cheap Houses.
I'll take it.
Can I get an amen??
Posted on 1/14/16 at 2:54 pm to RogerTheShrubber
quote:
Too much global debt, you may be in for a surprise
Rocket31 has a sociology degree from tOSU, buddy. He knows way more about economics than everyone here.
Posted on 1/14/16 at 2:59 pm to rocket31
quote:
oil producing nations suffer, most other nations benefit
who is going to benefit if the US, Middle East, Brazil, developing Africa, and Russia go into severe economic recession/depression?
quote:
we are unique in that we have huge oil producing industry that is losing money, but also a huge manufacturing and service sector that will benefit
you're going to need to find hundred of thousands of new jobs to prop up these economies
again, there is a reason texas became a national destination spot and why it "created" so many jobs (esp compared to the Us at large)
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