If You complain About Cheap Oil, I May Have to Smack You
Friday, January 22nd, 2016
I will brook no scaremongering about how cheap oil is tanking the stock market.
Lemme lay this out for you.
Q: “Eeek! My 401K”
A: Shut up. This is how every company scares us any time something gets proposed that may cost them money, like making it illegal to poison our drinking water or pay starvation wages or use child labor.
My 401K is peanuts compared to what I will save heating my house and driving to work. Low oil prices hurt:
1. Oil execs
2. Hedge fund douchebags
3. Putin
4. ISIS
And they help struggling working class people and every business that has to ship or rely on anything that is transported. Which is all of them.
You (since you are reading my posts, and I don’t get into many country clubs) probably make most of your money working. You have to heat your house, you have to commute to that job, everything you buy gets shipped from someplace, which uses gas and oil. Unless the bulk of your income is from stocks, low oil is good for you.
If you DO make most of you money from the stock market, you ought to understand that stocks go up and down, and learn to read trends
Invest in something else.
Because if you ask me to bail you and your bank out again…
I will find you, and I will kill you.
Loved your ending.
However, I do have to add two groups to your list of those harmed by low oil prices:
5. Many ordinary people who lost their jobs after they thought that they could turn their lives around with new, high-paying jobs in the resurrected then suddenly shuttered oil/gas industry in the Midwestern/ Northern states. Energy independence, economic security, and employment lose out again to short-sighted corporate profits.
7. Anyone working to advance, dependent on, or hoping for a clean energy future, especially that related to electric vehicles. The sad truth is that, if we are ever to reach critical mass on electric vehicles (before the next ice age), the price of automotive fuel needs to increase and remain high. Unbearably high. Otherwise, the public pressure to develop and accept electric vehicles won’t materialize.
That said, why wait to kill those corrupt, bailed-out bastards who not only didn’t change anything, but smirked, made more money, got even bigger, and now have us on track to do it all again?
Time’s a wastin’ !
I have been retired for years and since I worked for myself, I have no retirement income. Used my retirement to purchase a motorhome. Now, I guess it is time to sell it.
When I did work, since I live near Houston, TX, the oil industry has a huge influence on almost everything here. When the price of oil was high, this area was booming, when it was low, this area slow. Today, Houston is much more diversified than it was back when I was working.