Oil

[TTinCO]

Broke $60 a barrel yesterday. I'm one of those who believes in the trickle down effect on the economy as a whole.

Any thoughts on what this will do to the US economy if it stays at or above this level? I've heard some outlandish predictions about where some people think that the price is going.

 

[redpimp]

TTInco, do you post at the TOMB?

 

[TTinCO]

Never heard of it Red

 

[thepurchaser]

Any thoughts on what this will do to the US economy if it stays at or above this level?

I think it will keep everyone at par. This is assuming par is pissed off people, who complain about gas prices and a sour economy.

Wake up America and stop burning fuel so recklessly!!

Do us all a favor and go by a fuel efficient or semi-fuel efficient car and stop driving around V8 coupes and friggin 1ton dualies as commuters.

If the economy is the car and we are the drivers and we did a reading to the ECU it would have an error question... It's question would be:
Why am I in this handbasket and where are we going?

More oil we use the more international conflict/monitoring. The more conflict, the more spending on military. The more spending, the more borrowing. The more borrowing, the more debt. The more debt, equates to weaker the economical stability.

I don't admit that our major international conflict is to secure crude oil, but I still find it ironic when I overhear someone bitching about war and gas price in the same evening (especially if they drive a SUV everyday).


:sad3:

 

[thepurchaser]

http://costofwar.com/

Don't know the validity of the number, but it is interesting site

 

[Dawoofdaddy]

Broke $60 a barrel yesterday. I'm one of those who believes in the trickle down effect on the economy as a whole.

Any thoughts on what this will do to the US economy if it stays at or above this level? I've heard some outlandish predictions about where some people think that the price is going.

50-60 dollar oil certainly destroys most wall street corporate earnings and 'growth' estimates, since most of these estimates were based on an oil price of $28-35.

 

[TTinCO]

DAWOOF, that's pretty much what I'm thinking. Can't say that it's as bad as you think, but overall, it puts one hell of a dent in things.

$60 is unprecidented.....but yet you don't hear that much about it--and of course the interest rates keep dropping(rah rah, your mortgage is lower).

Anyone smell an artificially inflated economy here?

 

[Dawoofdaddy]

DAWOOF, that's pretty much what I'm thinking. Can't say that it's as bad as you think, but overall, it puts one hell of a dent in things.

$60 is unprecidented.....but yet you don't hear that much about it--and of course the interest rates keep dropping(rah rah, your mortgage is lower).

Anyone smell an artificially inflated economy here?

Smell? It is so blatantly inflated that it not worthy of debate.

 

[TTinCO]

Well, whatever damage $60 didn't do, $70 tomorrow probably will.

Can you say SHORT THE DOW!!!!!!!!!!!!!!