Quote:
Originally Posted by Jeff '79
America and me is all I care about.
We're talking oil prices here. That is just one factor that is going to hurt the global economy.
We can tell the rest of the world to keep their oil and be just fine but that'll never happen.
What is happening is cyclical, not systemic. You can't have an economy running full tilt year after year. It's natural to have ebbs and flows.
Lower fuel prices will help the American consumer. That's all I'm saying.
The world economy is an entirely different ballgame.
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Lower fuel prices, if the other factors wre not in play, would Help.
What is happening is that oil price are lower due to two factors. One is increased output to force American oil companies to shut down operations so the state owned companies of OPEC can keep us out of their market.
The second major driver of lower oil prices ihe world economy is slowing. The countries that buy from America no longer can buy from us since they are in resection.
Both are bad for the American worker and the economy.