Its Not Wall Street F'ing Up The Economy

[The_Worlds_finest]

Not quite sure of the outcome and I cant find a source for the total amount spent on fuel for a year, but Ill bet that 700 billion could keep the price down at the pump for years and years and years. And surprise surprise watch the economy spring back to life. Funny how gas prices arent mentioned in the bail out :toast

[ElNono]

Not quite sure of the outcome and I cant find a source for the total amount spent on fuel for a year, but Ill bet that 700 billion could keep the price down at the pump for years and years and years. And surprise surprise watch the economy spring back to life. Funny how gas prices arent mentioned in the bail out :toast

Oil prices have actually been coming down sharply now that speculators are taking their money out of the market.

[The_Worlds_finest]

Yeah you notice it at the pump yet?

[ChumpDumper]

I've noticed the earlier decreases at the pump, yes.

[ElNono]

Yeah you notice it at the pump yet?

Well, it went down sharply last monday. It'll take some time.
But even then, I paid $3.92/gallon not six months ago. This weekend it was $3.29/gallon.

[Cry Havoc]

Oil prices have actually been coming down sharply now that speculators are taking their money out of the market.

It's not just that. Economies are going down around the world in reaction to the US problems.

[The_Worlds_finest]

OH so 3.29 is cheap gas now?
When oil was hovering around 150 it was close to 4 dollars, since then oil has dropped 1/3 of its value shouldnt gas follow suit?

For some reason or another you decided to post a response which had nothing to do with the topic of the thread. How about you do some research and find the amount of money spent on gas yearly. The idiots who bought the mortgages should for it themselves. If the government wants to stoke the economy putting that money toward cheaper ( much lower then 3.29 big guy) gas prices would complete the feat with costing much less.

[ElNono]

It's not just that. Economies are going down around the world in reaction to the US problems.

True. There's also seasonal reasons. Summer is always the peak of consumption.

[ElNono]

OH so 3.29 is cheap gas now?
When oil was hovering around 150 it was close to 4 dollars, since then oil has dropped 1/3 of its value shouldnt gas follow suit?

For some reason or another you decided to post a response which had nothing to do with the topic of the thread. How about you do some research and find the amount of money spent on gas yearly. The idiots who bought the mortgages should for it themselves. If the government wants to stoke the economy putting that money toward cheaper ( much lower then 3.29 big guy) gas prices would complete the feat with costing much less.

Oil futures were traded at $96.37/barrel today. That's close to 2/3 of the value.

[Cry Havoc]

I've noticed the earlier decreases at the pump, yes.

That's what she said. :hat

[Aggie Hoopsfan]

Not to mention that the Fed injected $640 billion into the world markets this morning. Making our dollar more worthless in the process. Thanks, guys :tu

[ElNono]

Not to mention that the Fed injected $640 billion into the world markets this morning. Making our dollar more worthless in the process. Thanks, guys :tu

Bernake says you're welcome. He's going to run out of ink before he shuts down the presses.

[The_Worlds_finest]

97/150= %65

3.29/4= %82 :bang

4/3= 1.33

2*1.33= 2.66 what fuel should cost at current oil value...

but once again this is not the topic of the thread...

The top of the thread is the us of the "bailout" money to drop oil prices...the major reason for the economic slowdown

[ChumpDumper]

Is it really the reason for the slowdown?

[ElNono]

97/150= %65

3.29/4= %82 :bang

4/3= 1.33

2*1.33= 2.66 what fuel should cost at current oil value...

but once again this is not the topic of the thread...

The top of the thread is the us of the "bailout" money to drop oil prices...the major reason for the economic slowdown

Ok, I'll bite... how would decreasing oil prices 'fix' the economy?

[Cry Havoc]

Ok, I'll bite... how would decreasing oil prices 'fix' the economy?

Because then we could all go back to owning Hummers! DUH!

Geez you guys are 'toopid. :rolleyes

[The_Worlds_finest]

I haven't really had the time to look into it. I just figured that it has contributed to the current economic situtation. I am not a big fan of buying out the troubles the banks put themselves into. If the tax payers should be footing the bill to improve the economy it should be something we should benefit from not a bunch of duchebags that failed.

I say atleast entertain the idea of getting prices back down under 1.25.

[KenMcCoy]

97/150= %65

3.29/4= %82 :bang

4/3= 1.33

2*1.33= 2.66 what fuel should cost at current oil value...

but once again this is not the topic of the thread...

The top of the thread is the us of the "bailout" money to drop oil prices...the major reason for the economic slowdown

thats a bad analogy...watch cavuto school oreilly

http://www.youtube.com/watch?v=v1f7ICTAdVw&eurl=http://hotair.com/archives/2008/09/17/cavuto-versus-oreilly-you-push-this-populist-nonsense-that-doesnt-make-sense/

[ChumpDumper]

I say atleast entertain the idea of getting prices back down under 1.25.http://www.tvguide.com/images/pgimg/all-in-the-family.jpg

[ElNono]

I haven't really had the time to look into it. I just figured that it has contributed to the current economic situtation. I am not a big fan of buying out the troubles the banks put themselves into. If the tax payers should be footing the bill to improve the economy it should be something we should benefit from not a bunch of duchebags that failed.

I say atleast entertain the idea of getting prices back down under 1.25.

You would need a whole lot more than $700 billions to subsidize gas prices in order to bring them back down to $1.25/gallon.

Listen, I don't like the bailout anymore than you do, but Oil prices won't probably go below $2.5/gallon until demand (globally, not jus the US) drops considerably (hybrid/electric vehicles become mainstream, etc)

[Wild Cobra]

Not to mention that the Fed injected $640 billion into the world markets this morning. Making our dollar more worthless in the process. Thanks, guys :tu
I didn't hear about that. How was that much allowed to be siphoned?

Actually, I don't mind much as long as it was extra printed money rather than tax dollars. We still need to have the value of the dollar drop more so our goods are cheaper for other countries to buy. It would also make imports more expensive, helping to restore manufacturing in the USA.


97/150= %65

3.29/4= %82 :bang

4/3= 1.33

2*1.33= 2.66 what fuel should cost at current oil value...

but once again this is not the topic of the thread...

The top of the thread is the us of the "bailout" money to drop oil prices...the major reason for the economic slowdown
You lost me with your math logic, but refined fuel is not going to follow a fixed ratio. Refining cost do not change with the cost of the oil. Assume it takes $50 to refine a barrel or oil, and transportation and retail and oil companies take another $50. That $150 bbl refined is $250. At $100 it is $200. Rather than a 3/2 ratio you have 5/4 ratio. $4.00 gas becomes $3.20. If we were back to $25 per bbl oil, this example would have it at about $1.20 per gallon.

Now I know those numbers are likely far from correct. This is just an illustration that a different math applies, and it too is simplifies and not quite correct. Other factors like the current supply and demand, and competition in a region are also factors.


Not quite sure of the outcome and I cant find a source for the total amount spent on fuel for a year, but Ill bet that 700 billion could keep the price down at the pump for years and years and years. And surprise surprise watch the economy spring back to life. Funny how gas prices arent mentioned in the bail out :toast
Are you advocating that we take other peoples money in taxes so everyone can have cheaper gasoline?

That's redistribution of wealth, and so not right.

[DarrinS]

This thread is retarded.

[BacktoBasics]

This thread is retarded.
It is.

However there is a point to be made here thats been missed.

Higher gas prices aren't the only reason for economic slowdown but I think the fact that it spiked up as quickly as it did caused the underlying problems to be exacerbated. We can easily sit here and say the housing crisis was caused by ARMs or lack of healthcare causing people to file bankruptcy but the fact of the matter is that normal steady income families saw monthly expenses increase by as much as 40% due to higher gas prices.

It wasn't just more at the pump it was higher utilities, food, clothing and just about every expense you can think of increased because the price of fuel increased. Once you parnter another 400 or 500 a month in higher bills with unpaid medical or a higher mortgage or whatever else these people went through it was simply too much to overcome. Most people could deal with a house payment increasing 250 bucks, it would suck but they'd get by. Mix in another 400 of your regular bills increasing and its just too much to overcome. Had gas increased slowly people would have been able to adjust and possibly trim back to fit it all in. Too much too quick and people had no way to respond fast enough.

How many people have debts that will be paid off in a year or two years. Instead of getting a new car they'll sit on what they have. They didn't have any time to adjust to the cost of living increasing as rapidly as it has. It stopped a great deal of consumer spending and created credit problems for millions.

[Thunder Dan]

alot of this mess is attributed to people being greedy and wanting more than they can afford- the companies just exploited that

[I Love Me Some Me]

The dollar hasn't been 1-to-1 with the Euro since 2002.

Therein lies your problem.