Sirhornsalot
**The Official Horn Sports Landscaper and Landscap
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Gas is now $1.99 a gallon here in Dallas.
Meanwhile, amidst all this recruiting, holidays, etc.
- Thread starter Sirhornsalot
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Etex Horn
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Great news for everyday consumers...not so much for me and the Texas economy. I'm in the oil and gas
business...lower prices will hurt my work and the Texas economy...a lot of Texans need the oil and gas
business to remain stable and healthy. Kind of a mixed deal...I know everybody likes cheaper prices
when pumping their gas.
Sirhornsalot
**The Official Horn Sports Landscaper and Landscap
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It certainly helps my costs as about everything we do runs on gas or diesel.
Saudi Arabia is flooding the market in a mini-war with the US on oil. I won't get into the politics of it as some might not like what I have to say. I'd be glad to pay a little more and see the US economy and oil industry be healthy and balanced.
MikeV73
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As the price of oil drops, so does the stock market. Paying less at the pump, but investments go down as well. Not an economist, but that is what I have noticed of late.
Etex Horn
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Russian bankruptcy and downfall in 1980s = to low oil prices and the expenditures due to "Charlie Wilson's War"
in Afghanistan.
Duke C #11
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Before long, Putin may have to change his name to Putout.
Dieselprime
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This is what's happening. It's not as much as an attack on the US oil producers (although I don't think the Saudi's mind it) as it is an attack on Putin. Putin will start having people turn on him when their economy starts to tank out. It gets bad enough, the people will call for his resignation and another leader will emerge.
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castlebravo1
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I say the lower the better.
DMAC
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Oil has tanked from low 100's to 60's, as the Saudi's try to put pressure on the Bakken Oil Fields and put them out of business. The break even price for the Saudi's is 30 per Barrel where the Bakken Fields is 50ish. Some are projecting oil to hit 40-50. If that happens, it will help the consumer after all America is a consumer driven nation but it will bankrupt a slew of Oil fields and cause defaults with Banks who financed them.
The Market has tripled since the financial crisis lows in 2009. Partly because it was way oversold in March 2009 but mostly because the Fed and their non stop money printing and near zero rates. The Fed has a 4.5 Trillion dollar balance sheet. When the fed starts to reduce their balance the market will come down with it. Big Money managers such as mutual funds and Pension funds will sell their stocks and buy bonds. Right now with low rates, bonds have no yield. The rise in the SP500 has been a "Search for yield"
Until that happens the stock market will continue to over inflate setting itself up for another fall, probably worse percentage wise than it was in 2009.
The Fed has been completely irresponsible with all the money printing and QE. Fiscal policy of the US Government has been a joke and has racked up so much debt. The American consumers did the same with mortgages and credit cards which was partly the cause of the 2009 crash. Now the fed has been the "Credit Card" with its buy back program and monetary policy.
This is the American way for most. Borrow and figure out how to pay for it later.
The next crisis will be caused by irresponsible Central Banks from all over the world.
Sorry for all this, but its something I do daily and quite passionate about this stuff
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