OLD Story, NEW Thread..... Stocks CRASHED -512 points today!!!

[Blackout]

I am not surprised by the drop at all. The USA's economy is influenced by mostly the Petroleum Industry and with the high high prices, it's making it's influence known with the economy just trying to survive. What do they expect!

Wall Street people are noticing that the Companies that they thought with all the Buy-Out Money would rebound all the economy has now back-fired.

I just wish that the US will get rid of all the damn speculators and price the products off demand like it used to be. It's just alot of shit that I wish that they would straiten out before the country goes bankrupt!

[Maximus]

Stupid Fucks. Easy way to end recession...Lower gas prices to $1.89 (premium):cool1:

[Mista Bone]

Frozen Orange Juice futures contracts?

FYI oil prices took a hit today as well as did RBOB wholesale prices yet the price at the pump went up 20 cents a gallon.

[mad max]

I dont think we will ever recover from this mess.

[Moody]

This is why I have invested my money in guns bullets and mustangs. The prices will only go up so I maybe crazy but having a few guns and a few thousand rounds seemed like a better investment then a CD.

[Mista Bone]

I dont think we will ever recover from this mess.

we'll recover, in 50-100 years. Generally 200-250 year cycles between Empires starting and then failing but rebuilding. 235 years and counting.

[foxbody]

everyone keep your hands and feet inside the ride. this rollercoaster is headed down a steep grade.

[Gstang117]

This is why I have invested my money in guns bullets and mustangs. The prices will only go up so I maybe crazy but having a few guns and a few thousand rounds seemed like a better investment then a CD.
Yup. Specially when it comes to negotiating :bigthumb

[Stangman]

Good thing I sold off all my stocks/etc last week...

[05yellowgt]

I am not surprised by the drop at all. The USA's economy is influenced by mostly the Petroleum Industry and with the high high prices, it's making it's influence known with the economy just trying to survive. What do they expect!

Wall Street people are noticing that the Companies that they thought with all the Buy-Out Money would rebound all the economy has now back-fired.

I just wish that the US will get rid of all the damn speculators and price the products off demand like it used to be. It's just alot of shit that I wish that they would straiten out before the country goes bankrupt!
Oil closed at $87.97 a barrel, which is the lowest it has been since December, so how did that cause the drop? I'd say it has more to do with the lack of real progress with the Debt. Sure we raised the debt ceiling, and have some weak promises of looking for small cuts, but we aren't doing anything to reduce the debt, which is the real problem. Do you realized that yesterday the National Debt jumped by the largest single day amount in the entire history of the US. It went up by over $239 BILLION dollars in one day!!!!

[05yellowgt]

Frozen Orange Juice futures contracts?

FYI oil prices took a hit today as well as did RBOB wholesale prices yet the price at the pump went up 20 cents a gallon.
The price at the pump isn't directly tied to the price of crude today. The gas stations are paying for crude that was purchased several months ago. The way that the gas wholesalers set prices is a bit different to say the least and gas station owners are never in a hurry to drop prices when prices go down because they are always trying to build a small cushion to account for the wild swings in wholesale prices that happen. It is not as if they buy gas wholesale for $1.50, charge $1.55 and then keep that price till their tank of $1.50 gas is empty.

[cstreu1026]

The price at the pump isn't directly tied to the price of crude today. The gas stations are paying for crude that was purchased several months ago. The way that the gas wholesalers set prices is a bit different to say the least and gas station owners are never in a hurry to drop prices when prices go down because they are always trying to build a small cushion to account for the wild swings in wholesale prices that happen. It is not as if they buy gas wholesale for $1.50, charge $1.55 and then keep that price till their tank of $1.50 gas is empty.

That use to be true but a spike in crude futures today will most definitley cause a spike in wholesale gasoline prices tomorrow.

[Blackballed]

This is why I have invested my money in guns bullets and mustangs. The prices will only go up so I maybe crazy but having a few guns and a few thousand rounds seemed like a better investment then a CD.

What Moody said...:AR15:

[redfirepearlgt]

You think that was bad, wait for Monday. After the rating on the US was just lowered to AA+ from AAA by S&P this evening thanks to how well our elected officials have handled the budgeting of the tax base coming in, who knows if we won't implode come Monday.

Hows that change doing for you now middle income america???

[satan jamez]

Stupid Fucks. Easy way to end recession...Lower gas prices to $1.89 (premium):cool1:

I still think this is the answer. Every functioning business uses gas to some degree.

[Mista Bone]

The price at the pump isn't directly tied to the price of crude today. The gas stations are paying for crude that was purchased several months ago. The way that the gas wholesalers set prices is a bit different to say the least and gas station owners are never in a hurry to drop prices when prices go down because they are always trying to build a small cushion to account for the wild swings in wholesale prices that happen. It is not as if they buy gas wholesale for $1.50, charge $1.55 and then keep that price till their tank of $1.50 gas is empty.

But it is tied to RBOB contract prices which is generally next months delivery yet the pump price JUMP right now and slowly slide back down.

Take the RBOB price, add .60 a gallon and you have a fair pump price. Approx. 50 cent a gallon is taxes, the last dime is profit for the station owner. However if you use a debit/credit card they get hit with a 3% transaction fee which eats up the dime so they are lucky to break even.