Here Comes the Recession

[carlos86]

 

[carlos86]

I don't think they are.

View attachment 265312

Yea I really think the Fed is walking into this downturn with an empty magazine.

 

[AM64]

Energy cost is like taxes. Lower energy cost means things can be manufactured for less and transported for less. Reduced business tax did good things for the economy. Screw OPEC and their non OPEC coattails riders.

 

[MontyPython]

How? Italians basically take 1/2 a day off every day and their productivity is crap to begin with. For the life of me I can't see how Italy shutting schools down for 2-3 weeks is going to going cause a world wide recession.

Starting to get the big picture yet, Hog?

Oil down 27% in one day.

Hello recession.

 

[MontyPython]

Unfortunately there is one candidate in the race that is really destroying the chances of Joe Biden ever being president.

His name is Joe Biden.

Man. This thread is a microcosm of total sh*t predictions by Trumpsters.

 

[carlos86]

Energy cost is like taxes. Lower energy cost means things can be manufactured for less and transported for less. Reduced business tax did good things for the economy. Screw OPEC and their non OPEC coattails riders.

This hurts American oil producers more than it hurts Russian and Saudi producers. It’s $20 below the cost of production.

 

[AM64]

This hurts American oil producers more than it hurts Russian and Saudi producers. It’s $20 below the cost of production.

Oil producers have gouged enough over the years because they could. Perhaps if they hadn't, lower manufacturing costs would have helped keep jobs here. I have a tendency to do weird things and look at what's good for the country rather than what's good for some segments of the country; and, no, that doesn't mean I believe in socialist or any other kind of government price fixing. Energy is essential to industry and to the country as a whole. Energy cost is friction to the process. The smoother the process, the less the drag, the better we all are - a little more common sense and a tad less greed can go a long way.

 

[tvolsfan]

wut

Okay, that’s just sad.

 

[Electric Orange]

Sandy too

It’s mangina

 

[MontyPython]

Oil producers have gouged enough over the years because they could. Perhaps if they hadn't, lower manufacturing costs would have helped keep jobs here. I have a tendency to do weird things and look at what's good for the country rather than what's good for some segments of the country; and, no, that doesn't mean I believe in socialist or any other kind of government price fixing. Energy is essential to industry and to the country as a whole. Energy cost is friction to the process. The smoother the process, the less the drag, the better we all are - a little more common sense and a tad less greed can go a long way.

Rolling my eyes here, dude.

First, oil prices are determined by the free market, not oil producers.

Second, oil prices have been in a tailspin for the last decade due to the domestic fracking boom (see chart below). This has been a godsend to both American industry and consumers.

As for "keeping jobs here", do you want to make Nike shoes for $3.00/hour? There's a reason manufacturing jobs are overseas, and it has nothing to do with oil prices.

Lastly, as Gordan Gecko said, "Greed is good". It's the basis of capitalism, and is balanced by fear. If you don't agree, you're a closet Bernie Sanders fan.

 

[Velo Vol]

 

[Velo Vol]

U.S. shale oil producers have a lot of debt. This is going to be brutal on the industry. Expect bankruptcies, and negative ripples to the manufacturers who supply them.

 

[MontyPython]

U.S. shale oil producers have a lot of debt. This is going to be brutal on the industry. Expect bankruptcies, and negative ripples to the manufacturers who supply them.

This will be the second shakeout for them. Ultimately, it'll make those left standing stronger and with lower production costs.

 

[Velo Vol]

 

[hog88]

Starting to get the big picture yet, Hog?

Oil down 27% in one day.

Hello recession.

Closing schools has zero to do with this. Panic is to blame.

 

[MontyPython]

Closing schools has zero to do with this. Panic is to blame.

*eyeroll*

Hog... closing schools is the result of an attempt to mitigate the spread of the virus. As I said last Wednesday, if it spread through our country like it did in Japan and Italy, we'd see a meltdown.

Stanford, Columbia and Rice have now cancelled classes. This is the tip of the iceberg. Domino effect will ensue and then many businesses will follow suit by encouraging workers to telecommute or just stay at home for awhile.

We're about to witness a full-blown public panic. The markets will continue to plunge, and we will have a sharp, short recession.

BUT, it'll be short-lived imo. This will all blow over in a matter of weeks or a couple months. This virus is pretty bad, but it ain't Ebola-level bad.

 

[hog88]

*eyeroll*

Hog... closing schools is the result of an attempt to mitigate the spread of the virus. As I said last Wednesday, if it spread through our country like it did in Japan and Italy, we'd see a meltdown.

Stanford, Columbia and Rice have now cancelled classes. This is the tip of the iceberg. Domino effect will ensue and then many businesses will follow suit.

We're about to witness a full-blown public panic. The markets will continue to plunge, and we will have a recession.

BUT, it'll be short-lived imo. This will all blow over in a matter of weeks or a couple months. This virus is pretty bad, but it ain't Ebola-level bad.

And I have said multiple times that the panic will cause more damage than the bug will.

 

[Rifleman]

Man. This thread is a microcosm of total sh*t predictions by Trumpsters.

I voted for Biden on Super Tuesday, was one of the 7 people who donated to his campaign in 2019, and hope to be able to vote for him in November.

However, his campaign's positive performances so far include 1 lucid debate and 1 good speech after the win in South Carolina, so let's not do the Icky Shuffle just yet.

 

[NorthDallas40]

I voted for Biden on Super Tuesday, was one of the 7 people who donated to his campaign in 2019, and hope to be able to vote for him in November.

However, his campaign's positive performances so far include 1 lucid debate and 1 good speech after the win in South Carolina, so let's not do the Icky Shuffle just yet.

Was wondering if you were going to correct his usual clueless stance, this time on you

 

[carlos86]

Rolling my eyes here, dude.

First, oil prices are determined by the free market, not oil producers.

Second, oil prices have been in a tailspin for the last decade due to the domestic fracking boom (see chart below). This has been a godsend to both American industry and consumers.

As for "keeping jobs here", do you want to make Nike shoes for $3.00/hour? There's a reason manufacturing jobs are overseas, and it has nothing to do with oil prices.

Lastly, as Gordan Gecko said, "Greed is good". It's the basis of capitalism, and is balanced by fear. If you don't agree, you're a closet Bernie Sanders fan.


View attachment 265346

This time is different. OPEC had no intention of cutting production so Russia decided they were going to flood the market with Russian crude.
Putin Dumps MBS to Start a War on America’s Shale Oil Industry

 

[UT_VOLS13]

Dow plunges nearly 1,900 points before being halted, oil crashes as price war erupts

 

[MontyPython]

This time is different. OPEC had no intention of cutting production so Russia decided they were going to flood the market with Russian crude.
Bloomberg - Are you a robot?

Yes and no. The causes are different, but the net result will be similar. Coupled with the CV scare, oil could see $20/barrel.

I think the scare will be relatively short-lived, though. So, the CV portion of the oil plunge will reverse itself before our producers fold imo.

 

[05_never_again]

Energy cost is like taxes. Lower energy cost means things can be manufactured for less and transported for less. Reduced business tax did good things for the economy. Screw OPEC and their non OPEC coattails riders.

You do realize the United States is the world's largest oil producer, right? There are more implications for $30 oil than just "Well, gas is cheaper."

 

[NorthDallas40]

Rolling my eyes here, dude.

First, oil prices are determined by the free market, not oil producers.

Second, oil prices have been in a tailspin for the last decade due to the domestic fracking boom (see chart below). This has been a godsend to both American industry and consumers.

As for "keeping jobs here", do you want to make Nike shoes for $3.00/hour? There's a reason manufacturing jobs are overseas, and it has nothing to do with oil prices.

Lastly, as Gordan Gecko said, "Greed is good". It's the basis of capitalism, and is balanced by fear. If you don't agree, you're a closet Bernie Sanders fan.


View attachment 265346

LMAO! OPEC agrees with you 100%

 

[carlos86]