KX Riders
General => In General... => Topic started by: Danger4u2 on October 26, 2008, 07:46:18 PM
-
Our gas is down. $2.11 at most parts of town, one store is $1.99 gal. I just heard on the news oil may get down to $50 dollars a barrel.
-
yep ,the worldwide reccession is a fact .
in holland lots of people are loosing their jobs ,mostly the flexworkers ,but when they,re all gone...
due to the reccession the oil price is sinking ,cuz ind.plants just don,t need so much oil at this moment.
but the opec has decided to bring the nr of barrels down with 250.000 a day if i remember good
we pay for 1 liter in holland still 1,44 Euro though. :x
-
Actually, I believe it is 1,500,000 barrells a day. Though people don't care, stocks are plummeting despite their worth. I doubt oil will go down to extremely far, though they will bottom out and then rise. I filled my truck for $60 from d**n near empty (25 gallons) and it cost me $100+ just a month ago (Shortage from IKE) and same for the past few months when oil was $140+ a barrell. It's funny, everybody crying foul on "Big Oil" while nobody says anything about OPEC. I hate to say it but supply and demand is where it is at.
I don't know about a recession. I feel we are in a huge panic and also inflation came in too fast because money was too easy to access. Loans were given to anybody regardless of credit or income. Prices were driven up party to that, others were growing countries like China, India, ect.
We are in a massive reset. Prices will drop, unfortunately, people will lose their jobs that were created because of artificial income (over extended credit). Also people will lose their jobs due to just a bad economy, which is very unfortunate. I am chosing to keep my head high and look further than this cluster-f**k and see that investments now will benefit the future of our family while prices are very low. Also, learn from the mistakes of many companies about risk/reward. High risk doesn't always pay, ask Wachovia.
Again, while I did not feel that oil prices were unreasonable, I did feel that the prices were driven up artificially and would eventually reset, fall, and then return to what is considered normal and affordable for the world customers.
On a last note, my wife and our kids are learning to adjust to the market. I've always been somebody who hates debt and does not keep a balance on any loan, well, excluding a mortgage for sure. Credit cards are only good for fraud protection and perks/reward points. I am doing my best to weather this storm for my family, thankfully I could see this coming for years and have been ready for it. So, with all that said, bring on the rain, cheap gas, and stock prices.
-
Gowen, your assessment is pretty right on. Quite the panic is going on. Being in the investment bizz, I live this crap everyday. Bargains abound. I've been buying as others are selling into this panic.
I was remembering this morning on the way in.... almost two years ago, I had a chance to get into a partnership for a Yammy dealer. I didn't because of a divorce AND an inverted yield curve. When long term interest rates are below short term rates a recession is nearly inevitable. All those tedious hours in college economics classes paid off.
That was in January of 2007 and just NOW the "economists" are warning of a deep recession. Where the heck were they two years ago?
We might be in for a rough recession if the duration of the inverted yield curve is any indication. It was flat to inverted for quite a while. But I'd say that it's a great time to max out the old 401K. You know the old saying: buy low, sell high. The markets have recovered every other time. And anytime someone says "it's different this time" I just cringe.
The Yammy shop is still for sale...... HHHHmmm.........
-
Wow $1.99 a gallon, hope it gets to that in Michigan. I dont know why but Michigan has some of the highest priced gas in the States.
I have no college economics training and barely understand anything having to do with economics. But I do see that when the general population has a confident attitude the economy seems to prosper and when the general population has a panic attitude, fueled by media panic, the economy tanks. I wouldnt recognize an inverted yeild curve from a flat curve . But I do know that negative media reporting and panic are major players in this situation.
Would a media conspiracy to only transmit positive econmic reports help the situation ?
John
PS maybe we should just go riding until election day and I am voting two stroke all the way.
-
It's finally down to $2.44 today. Does anyone know why Michigan has higher gas prices than the rest of the Nation ?
John
-
It's finally down to $2.44 today. Does anyone know why Michigan has higher gas prices than the rest of the Nation ?
John
Spoken as a true Buckeye: We're trying to get you to join Canada. :evil:
-
Your state may have a higher fuel tax.
Transportation cost to deliver the fuel. Oklahoma has refineries in state.
Your states population can't drive as well as the rest of the nation.
More cost = less of you driving.
That's a joke, if you want to see bad drivers drive thru Oklahoma.
-
It's finally down to $2.44 today. Does anyone know why Michigan has higher gas prices than the rest of the Nation ?
John
Here is why: http://www.api.org/statistics/fueltaxes/upload/2008_159_GAS_MAP_OCT2008.pdf (http://www.api.org/statistics/fueltaxes/upload/2008_159_GAS_MAP_OCT2008.pdf)
It is down to about 2.69 here in NC.
-
We are at 2.29 here in Calhoun, GA.
-
It is $2.65 or so in Vacaville, Ca.. Love it now, be it will be back up over $4.00 a gallon real soon. Gas prices always go down around election time.
-
Danger, on our trip we paid from 2.95 to 4.59 for Diesel.............