Obama drops oil prices

[UncleBeer 244]

A pipeline is the most efficient and most environmentally friendly way to move it here. If we were a smart forward looking country, we would use that oil to power us to a new source. I don't think anyone doubts the ignorance of thinking oil is the energy of the future. Well at least the way it's being used now.

Ahh, wait: snail darters (or whatever the fictional environmental excuse was for slamming the brakes on for the Keystone pipeline).

Instead of energy independence, lower prices and less reliance on MidEast oil, the preznit chose to needlessly alienate the Canadians. Thanks, O'bama.

[OriZ 3,157]

Oil prices dropping might appear at first as a positive thing, but the truth is, the reason behind it is the looming and approaching deflation. And it has nothing to do with Obama for better or worse. So oil will keep dropping in the coming years, along with pretty much every asset except the US dollar. Yes, I know it's pretty much the exact opposite of what everyone believes - runaway inflation and a crash of the dollar. But they have been saying that for years and none of it has happened. The dollar today is higher than it was a few years ago and oil is lower. I still remember arguing with my wife when she believed the "experts" every time in the last few years that they predicted gas would go over $5 a gallon. I told her before it does that it will go under $3. Now I think before it does that it will even go under $2. Again, it's not tomorrow morning. It's a long process that takes years, especially when EVERYBODY's trying to fight it.

[Dan and Judy 614]

The dollar today is higher than it was a few years ago and oil is lower.

The dollar is higher against what?

[Pinocchio Liberal 268]

Obamenomics results in lower oil prices. Obama will be nominated for Nobel peace prize in economics in 2015 for turning around

the US economy.

did you just fart?

[OriZ 3,157]

The dollar is higher against what?

the USDX, it's a measure of value relative to a basket of currencies, such as the Euro, Japanese Yen, Pound sterling, Canadian dollar, Swedish krona, swiss franc.

It rose while the markets fell in 2008 due to deflation fears, then fell as the market recovered....but only till mid 2011.

That's when most commodities(such as gold, silver and oil) topped again just as runaway inflation fears were rampant. It is now up almost 20% since that time, and although the US stock market is one of the only things that did not turn down during that time, it will eventually follow as well. The dollar is actually only 5% lower now than it was at the peak it reached in the panic of early 09.

[The Nature Boy 4,224]

The dollar is higher against what?

against the Philippine Peso for one

[Dan and Judy 614]

Oil prices dropping might appear at first as a positive thing, but the truth is, the reason behind it is the looming and approaching deflation. And it has nothing to do with Obama for better or worse. So oil will keep dropping in the coming years, along with pretty much every asset except the US dollar. Yes, I know it's pretty much the exact opposite of what everyone believes - runaway inflation and a crash of the dollar. But they have been saying that for years and none of it has happened.

I consider the rising cost of health care to be run away inflation.

[Dan and Judy 614]

against the Philippine Peso for one

with all the money I'm sending to the Philippines that's a good thing

[OriZ 3,157]

So you're making a conclusion based on the cost of one thing, ignoring the fact most measures show the opposite? ok....

[DavenRoxy 1,073]

against the Philippine Peso for one

Technically, no. Back in 2006 it was about 50:1. Now it's about 43:1.

[Dan and Judy 614]

Technically, no. Back in 2006 it was about 50:1. Now it's about 43:1.

yeah but in 89 it was 23:1

[Dan and Judy 614]

So you're making a conclusion based on the cost of one thing, ignoring the fact most measures show the opposite? ok....

I think these days bringing home the bacon is better than bringing home the dollars.

Where's the beef?? it's still there , you just get less of it for your dollar

how about the cost of an education?

Prostitutes? don't get me started

[OriZ 3,157]

Education is another bubble just like the real estate bubble of the last decade...it won't last. Bubbles happen. But that doesn't mean there is runaway inflation. Inflation at a rate of barely 2% a year like we have been seeing is not only NOT runaway, but it's actually what the Fed has AIMED for, to try and prevent DEflation. So far they have been successful, but I don't think it will last.

Copper, Gold, Silver, Oil etc being down is NOT runaway inflation.

Dollar up against most major currencies is NOT runaway inflation.

Edited October 26, 2014 by OriZ

[Dan and Judy 614]

Education is another bubble just like the real estate bubble of the last decade...it won't last. Bubbles happen. But that doesn't mean there is runaway inflation. Inflation at a rate of barely 2% a year like we have been seeing is not only NOT runaway, but it's actually what the Fed has AIMED for, to try and prevent DEflation. So far they have been successful, but I don't think it will last.

Copper, Gold, Silver, Oil etc being down is NOT runaway inflation.

Dollar up against most major currencies is NOT runaway inflation.

Im not an economist and I've never even played one on tv but I don't think measuring the strength of the dollar against other currencies is

how you measure inflation.

I'm willing to go with the consumer price index.

I don't think the price of copper, gold and silver have an undue influence on the CPI

Housing, food and transportation are the biggest chunks.

[GandD 5,966]

Education is another bubble just like the real estate bubble of the last decade...it won't last. Bubbles happen. But that doesn't mean there is runaway inflation. Inflation at a rate of barely 2% a year like we have been seeing is not only NOT runaway, but it's actually what the Fed has AIMED for, to try and prevent DEflation. So far they have been successful, but I don't think it will last.

Copper, Gold, Silver, Oil etc being down is NOT runaway inflation.

Dollar up against most major currencies is NOT runaway inflation.

What do you mean by education being a bubble? The prices of education or the worth of the education?