re: For those gloating about oil:Falling oil means rising foreclosures in oil states

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many of the new jobs will come from improving the infrastructure/roads/bridges of our country which are inadequate for todays society

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i don't think borrowing more money to artificially inflate our economy is going to solve the issues of an economy suffering from artificial inflation due to this sort of borrow-and-spend federal mentality

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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.

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Precisely.

There is very little room to move upward and many, many reasons to be worried about a downward trajectory with little to no ability to stop it.

I'm weary of having this conversation in an oil related thread because these things bring out the worst of the worst, but SFP is right, the most recent oil decline is a symptom of a broad problem. This thread is full of buffoons who preach about how good low oil is for the economy, and they're right to an extent, but the current downturn isn't good for anyone. Look at this chart of Dow Jones sectors:



In the last month:

Financial Services: -10.95%
Transportation: -10.20%
Basic Materials: -10.18%
Energy: -10.14%
Financials: -8.44%
Technology: -7.40%
Industrial: -6.58%
Healthcare: -6.54%
Consumer Services: -6.17%
Consumer Goods: -5.29%
Telecommunications: -4.93%
Real Estate: -3.93%
Utilities: +2.96%

It is pretty widely known why oil has gone from $100+ to $50 per barrel, but the move downward from $50ish is where things have gotten crazy. Most idiots in this thread need to take a step back and understand that oil is acting as a precursor of slowing global demand. You may believe cheap gas is good for your pockets, but that isn't bearing out for the US or global economy at the moment.

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I'm weary of having this conversation in an oil related thread because these things bring out the worst of the worst, but SFP is right, the most recent oil decline is a symptom of a broad problem. This thread is full of buffoons who preach about how good low oil is for the economy, and they're right to an extent, but the current downturn isn't good for anyone.

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So they're buffoons, but they're right to an extent?

Also I thought SFP said that the drop in oil would cause (i.e., not be an indicator) of a sagging economy.

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Most idiots in this thread need to take a step back and understand that oil is acting as a precursor of slowing global demand. You may believe cheap gas is good for your pockets, but that isn't bearing out for the US or global economy at the moment.

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I don't know if it's a precursor as much as, again, an indicator (i.e., it's dropping simultaneously with a downturn).

And those who dog the shite out of the all-too-loudmouthed Baws who've bragged endlessly over the seasons, who DIDN'T SEE THE BIG PICTURE AND HAVE THEIR shite REPOSSESSED, are all fair game.

Buffoons indeed...

Well, unless the drop in oil prices is causing the upcoming recession (which seems to be SFP's position that you are incorrectly articulating/agreeing), why shouldn't the "stupid masses" be happy?

If a recession is coming, might as well enjoy the attendant drop in gas prices? Or am I supposed to be fearing a recession AND hoping that I can pay more at the pump?

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..the fact that field workers make more than the majority of enlisted military men/women makes me sick

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Really?

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Just like they did in the 1800s, because what happened in the past is exactly how it works in the future....right?

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In a general sense yes. But at this moment you are upset because you thought the maniacal drilling that took place since 2010 was going to last. You thought that would be the norm. Now you're pissed because the Saudi's said frick that we will price them and everyone else out so they can go back to normal and show them who's boss. My issue is, aside from the few of you who live in a bubble, is that the price of oil will eventually go back up in the near future yet because it's so low now, the world is ending. As mentioned time and time again, low gas prices benefits other sectors tremoundsly and rightfully so we are being forced to go back to "normal" production and not inflated production. You are upset now and very doom and gloom, but most of your predictions (sfp's and slacker as well) will not happen.

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But at this moment you are upset because you thought the maniacal drilling that took place since 2010 was going to last. You thought that would be the norm. Now you're pissed because the Saudi's said frick that we will price them and everyone else out so they can go back to normal and show them who's boss. My issue is, aside from the few of you who live in a bubble, is that the price of oil will eventually go back up in the near future yet because it's so low now, the world is ending. As mentioned time and time again, low gas prices benefits other sectors tremoundsly and rightfully so we are being forced to go back to "normal" production and not inflated production. You are upset now and very doom and gloom, but most of your predictions (sfp's and slacker as well) will not happen.

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who is this "you?" I don't recognize most of those opinions you attribute to me - unless "you" is a generalization of those of us who believe the dropping oil is not good for anyone in the long term

I'm going to benefit from $1.09 a gallon gas, but this is going to knock the economy of Houston, Louisiana and texoma hard.