Interesting article on the global economy.
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wsuffa
Touchdown! Greaser!
For all the gloating I've seen in certain circles over the energy price collapse, it has a flip side that's also bad for world politics and economics. Step function changes often result in economic dislocation....
Richard
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Ack...city life
Call it gloating if you like but I say it is due to the people. The people had carried the burden of all the QE fiascos plus other asinine govt programs like Cash For Clunkers and banks too big to fail nonsense. It is time the burden shifted. Don't forget economic growth at a paltry 2.75% too.
It's an attack on western economies by Saudi Arabia, always has been. For those of you who do not understand, KSA is America's enemy in The War on Terror.
hindsight2020
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hindsight2020
Indeed, but then again, one may argue our own (US) government isn't exactly rooting for the American proletariat either, judging by their domestic and foreign trade economic policies (NAFTA/CAFTA/TPP/et al). Hard to figure out who exactly is your friend in these globalization skirmishes.....
Of course we know the government is but a reflection of the power behind it, and that of course is no longer the American proletariat.
RyanShort1
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Yep. Pretty sure it's really hurting Texas.
josephbelt01
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Joe
Oil has always been boom and bust. We're producing so much oil the price has to fall. Saudi will keep putting oil on the market since they need the cash to support their economy. It'll stabilize as some domestic production is taken off the market.
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The American government as been against the American Proletariate since the Industrial Revolution, Junius Morgan saw to that.
No, it can't because the economics of the industry are built on a Ponzi scheme basis, rather than a sustainable production basis. It's all about what is best for the owners, not the people.
txflyer
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Fly it like you STOL it ♦
We're wanting a new house, and our Trustee Wells Fargo wizard dude says wait....
If oil stays down, these home prices are coming down.
Again.
If oil stays down, these home prices are coming down.
Again.
PaulS
Touchdown! Greaser!
Probably good advice, unless you can find something already discounted.
These oil prices are great, I hope they stay right where they are, I think they area about perfect. The producers will adjust and the economy will get better as long as congress is willing to prevent any more economy killing government moves.
bflynn
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I agree - what I see is an adjusting market. It was built for boom times and now has too much capacity in some places. That should mean that (smart) businesses make smart choices and do what they can to keep their equipment engaged. Rather than parking tankers and waiting for 60k/day prices to come back, maybe you should be offering them at 50k or 40k and making something?
I'm sure everyone didn't believe that the glut of oil money was going to continue indefinitely...right?
Buggsy2
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Dumbya and Company invaded the wrong country for sure.
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hindsight2020
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Fortunately the Texas economy is more diverse than Energy Corridor in Houston. Texas has seen oil/energy busts in decades past; I don't know why those affected by the layoffs are acting like this is such blasphemy. When it comes to gold rush industries, caveat emptor pal.
wsuffa
Touchdown! Greaser!
World politics are WAY too complex to say that statement with any accuracy.... regardless of who was president.
Every president has made judgments & partnerships that have been right, and also many judgments and partnerships that have been wrong. Remember the Shah of Iran and the many years of US Policy? We have, under various presidents, armed rebels and supplied arms. "The enemy of my enemy is my friend".
RyanShort1
Final Approach
I'm ok with it. Seriously, but I think a lot of folks are going to be hurting because they were deceived into thinking it was going to be a 10-20 year deal. I'm more worried about the workers on the lower end out in the sticks.