tj444 -> RE: As Expected, Here it Comes (1/14/2016 1:09:55 PM)
|
quote:
ORIGINAL: MariaB Mainstream media continues to insist that there is absolutely nothing to be concerned about. There is, there really is. I'm not saying panic (unless you own a lot of junk bonds) I'm saying, be prepared because if the shit hits the fan, this is going to be the worst depression we've ever seen. Shale is already filing for bankruptcy and oil prices have fallen through the floor. I know that sounds great to those of us buying gas/petrol, but if we don't have an income to pay for that gas then we're fxcked. Even the Guardian this morning is suggesting that falling oil prices are good for the economy [8|] The last time our oil prices dropped so low, so quickly, we hit a very serious depression. The predictions are, if shale collapses (which it is doing) unemployment goes up massively. Oil prices drop and capital expenditure grinds to a halt. Wall street panics, junk bonds start to default and the big banks who hold enormous amounts of energy derivatives rapidly fall into deficit. Its a domino effect...when the big banks fall, we all fall with them. I'm hedging my bets and stocking up. Yeah, here in Houston, since oil prices dropped, the media has almost every day had an article on how the drop in oil isnt really affecting things here (petrochemical manufacturing is booming, apparently).. "its not really all that bad, no really, things are still pretty good, no really, the real estate market is still good, no really".. Yeah, right.. Now the job numbers are showing cracks that the party has to end sometime.. luxury home sales are down.. Most people are oblivious to what is going on.. Morgan Stanley just put out its 2016 housing market forecast and they are pretty upbeat.. so imo we are at the top or near the top, things might hum along for a little longer and the stock market might head up again and fool some people.. I dont know who it was, there was a poster here a few years ago that was bragging about his investments in the bakken oil fields and such.. I wonder how those are doing now (not that I think he is hurting cuz he was in early, I think, just its not nearly as much as he was expecting.. so a oil stock at its peak might have been at $80 and now is at $20.. ouch)..
|
|
|
|