I wanted to post the stock chart right below it but I received a phone call I had to take, fucking work.
:lolBIG:
what's the correlation between the markets and oil?
hahahahah
yeah oil prices are the only variable that determines economic growth
my god this is getting to be comedy gold
now that the deflation heating up
and you oil down good for economy/equity markets nonsense isn't working anymore
good shite
ope:by the way that big swoop down you see on that chart in the 30s
oil tanked than too your oil chart doesn't go out that long :grandmais
Sorry, it's the best I got
I have no idea what happened to the price of oil in the 30's
all commodities other than gold got smashed
what happens in a deflating depression
plus your oil chart isn't inflation adjusted
as far as inflation adjusted oil prices over the long haul have been going down vs. other goods like say a gallon of milk or a loaf of bread......
cheap oil relative to inflation (aka a increase in production which has outstipped demand in a fiat inflationary environment) in america has been a big help over the years not gonna deny that
but the current economic turmoil has little to do with the price of oil and is currently falling due to economic gloom and doom globally (aka less consumption)
it has to do with lotsa bad debt and financial systemic problems
and going from an economy of pure liquid crack cocaine easy to tap debt
to little or no debt available
while actual wages haven't been keeping up with inflation
what happens in a deflating depression
plus your oil chart isn't inflation adjusted
as far as inflation adjusted oil prices over the long haul have been going down vs. other goods like say a gallon of milk or a loaf of bread......
cheap oil relative to inflation (aka a increase in production which has outstipped demand in a fiat inflationary environment) in america has been a big help over the years not gonna deny that
but the current economic turmoil has little to do with the price of oil and is currently falling due to economic gloom and doom globally (aka less consumption)
it has to do with lotsa bad debt and financial systemic problems
and going from an economy of pure liquid crack cocaine easy to tap debt
to little or no debt available
while actual wages haven't been keeping up with inflation
my gloom and doom just near term (on the scale of years how long i dunno will have to see how it evolves)
not sure how its gonna play out and how bad its gonna get
but sub 10k dow and sub 100 oil coming pretty confident in that
anyway this debate becoming a broken record
time will tell the story
not sure how its gonna play out and how bad its gonna get
but sub 10k dow and sub 100 oil coming pretty confident in that
anyway this debate becoming a broken record
time will tell the story
"anyway this debate becoming a broken record "
LMAO...Tiz you have 49,000 posts on the subject.
:missingte:missingte:missingte:missingte:missingte:missingte:missingte:missingte
Not sure why you should get pissed off dude. Anyhow, there is a long history of markets and oil, and the long term history of growth in the markets does not correlate with the long term price of oil.
Furthermore, while you have argued we've been in a recession since 2007, the price of oil skyrocketed during the beginning of 2008. You're not trying to argue that the demand in India and China skyrocketed this year, are you?
While the stock market went from 40 to 8000 from the 1930's to the beginning of this century, the price of oil went from 20 to 25 in that time frame. Your correlation is just not there.
Obviously, supply and demand does impact the price of everything, but the supply side of this commodity is manipulated. Oil is impacted by more non-economic events than anything else that is traded.
I hope I didn't "piss you off again".
Furthermore, while you have argued we've been in a recession since 2007, the price of oil skyrocketed during the beginning of 2008. You're not trying to argue that the demand in India and China skyrocketed this year, are you?
While the stock market went from 40 to 8000 from the 1930's to the beginning of this century, the price of oil went from 20 to 25 in that time frame. Your correlation is just not there.
Obviously, supply and demand does impact the price of everything, but the supply side of this commodity is manipulated. Oil is impacted by more non-economic events than anything else that is traded.
I hope I didn't "piss you off again".
obviously its not just that one factor
also the equity markets overall way more dependent on oil companies than they were in the past
XOM is the largest market cap company in the world currently and thinking more globally many countries worldwide are very dependent on oil profits to much larger degree than the US economy is......
my main point was that oil going down wasn't gonna stop the bleeding on the equity markets and was only going to add to it
also the equity markets overall way more dependent on oil companies than they were in the past
XOM is the largest market cap company in the world currently and thinking more globally many countries worldwide are very dependent on oil profits to much larger degree than the US economy is......
my main point was that oil going down wasn't gonna stop the bleeding on the equity markets and was only going to add to it
