Gas could fall to $2 a Gallon in 30 days

[Larry Gude]

Speaking...

All that will happen is these folks will pull their money out of oil and move it somewhere else. As long as they move it somewhere that they can't ruin the economy they can make all the money they want.

...of economy, don't you owe me a dollar?


Besides that, where would they take their money? That's right! Housing!!!

Just motive them to buy and back mortgages and motive them to get out of oil.

Viola.

 

[Bay_Kat]

Wooo hooo, gas at the 7-11 in Prince Frederick was 3.89 today. I won't get too excited though.

 

[Baja28]

Wooo hooo, gas at the 7-11 in Prince Frederick was 3.89 today. I won't get too excited though.

No you shouldn't. It broke new records today at over $140.00/barrel. $150.00/barrel predicted.

 

[AndyMarquisLIVE]

No you shouldn't. It broke new records today at over $140.00/barrel. $150.00/barrel predicted.

You're alive.

Awesome.

I was beginning to think the SS and CIA took you to Guantanamo Bay.

 

[Bruzilla]

...of economy, don't you owe me a dollar?


Besides that, where would they take their money? That's right! Housing!!!

Just motive them to buy and back mortgages and motive them to get out of oil.

Viola.

It's hard to tell where the money would go. Remember back to Black Monday in 1987? Who would have thought that lots of people who invested in the stock market would dump millions into the collector car market, but that's what they did. That 1970 Superbird I almost bought in 1985 for $5,000 cost over $100,000 when I got back in 1988 and would sell for about $500,000 at auction today.

I think the fallout from the subprime mortgage deal will leave a bad taste in the mouths of speculators and they'll wait until the business gets some legitimacy back. What would be best would be for Congress to slap enough prohibitive taxes on speculation that the money would go back to investment in corporate stocks where it belongs. That would help grow the economy.

 

[Bruzilla]

It looks like Congress got someone's attention. We're rolling into the 4th of July holiday, the period when gas prices are traditionally peaking, and we're seeing the price of gas going down while oil prices are still going up. Looks like the oil companies suddenly discovered there is a way to lower the price of gas.

 

[Otter]

Maybe a repost...but interesting..

 

[RadioPatrol]

Maybe a repost...but interesting....

Nice I had not heard that .... PUNISH the OIL Speculators



but won't the come begging for a bail out like the housing speculators

 

[Larry Gude]

Yeah...

Nice I had not heard that .... PUNISH the OIL Speculators

...now that the 7 year disaster is coming to an end, here comes the conservatives talking clear and straight again.

 

[Larry Gude]

Maybe...

I think the fallout from the subprime mortgage deal will leave a bad taste in the mouths of speculators and they'll wait until the business gets some legitimacy back. What would be best would be for Congress to slap enough prohibitive taxes on speculation that the money would go back to investment in corporate stocks where it belongs. That would help grow the economy.

...but by the same token, buy low, sell high, still applies. If government actually takes steps to promote the welfare by, if nothing else, driving speculators out of a necessity like oil, then that money has got to go somewhere and it's in most everyone's interest that housing stabilize AND oil goes down.

I see a win/win for public policy. Add large cap gains increases and higher margin requirements for being in oil, offer tax credits and/or lower cap gains in housing.