Quote:
Originally Posted by GregWeld
+++++++++++++++++++++++++++++++++
Oil and related:
I continuously hear the talking heads on TV telling me how lower oil prices are good for the consumer. I'm calling this nothing but talking head bullcrap. The damage this is doing to the COUNTRIES that produce - our STATES that produce - The suppliers that feed this industry pipe and pumps and trucks and anything else they use -- they HAVE to be feeling this big time. California is a producer - Alaska - The Dakotas - Texas.... Oil is important to these regions. So I ask myself -- is it important that I'm saving (pocketing) $30 a week when I fill up the Jeep -- or is it more important that Caterpillar (CAT) sells a $400K tractor... I personally feel these low prices are HURTING the economy not helping it. Where it goes is anybodies guess. We'll just have to wait and see where this goes.
|
Big fat yes to this. ^^^ Everyone I talk to is excited at the prospect of very low gas prices.... it's not a good thing I tell them. They don't get it.
Once the drillers, frackers etc... start throwing in the towel, the high yield credit market will be decimated along with pain felt in many other areas of our economy. Hopefully wise decisions are made and we roll through this.