OIL DROP, WHATS THE IMPACT ON GLOBAL ECONOMY

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Comments

[scottch]

I guess that peak oil thing was peak BS

[Soul Glow]

I wondered how hedged the energy sector was.

[Goldbugger]

I believe this fall in oil is being engineered by the US Gov and Saudi's to take Russia down. But if this lasts more than 6 months there will be almost 1 million layoffs in the oil industry. This will cause a housing drop due to seller jumping ship. The market could bo up a little higher 18500 to 20,000. Then the Jaws of Death pattern will commence. I see a HUGE Horn Pattern going back to 2000. A test of the bottom trend line will start in months to come. Let's say 5K on the DOW. JMO. Don't believe this false economy. The BDI has crashed also. http://investmenttools.com/futures/bdi_baltic_dry_index.htm

[Pareto]

Oil Drop....what's the Impact on the Global Economy?  

This question is phrased incorrectly - as if it is the oil market that is some how the driver of all economic activity.  Its actually the reverse - the oil drop is the impact from the global economy.  The crash in oil is a result of a diminishing global economy - or, at least a global economy that has gone on hiatus.

Of course as long as commentators, critics, analysts continue to look at the problem like this - that crashing oil is responsible for a crashing global economy , oil will continue to fall further and remain there until attention is paid to something other than energy.

Falling oil does not impact an economy - falling oil is a result of a declining economy - period - of consumer and producer preferences diminishing relative to available supply.

[Comte d'herblay]

U say po-Tay-toe, I say po-Tah-Toe.

Seems pretty sudden for oil to fall so fast and so far, off nearly 57% in  6 months.  

That would tell me that there is massive manipulation of the oil price going on by oligarchs, not much about the global economy.  

But like George Harrison said: "... the Beatles would only last about 6 months".