Home › Forums › Financial Markets/Economics › $7 gasoline in the near future???
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donaldduckmoore.
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July 4, 2008 at 11:21 AM #233220July 4, 2008 at 2:29 PM #233099
CoronitaParticipant[quote]Just read FLU’s post about his assessment going up. No wonder he’s so gloomy. He sees the value of his house going down every day while at the same time his property taxes keep going up.
Luckily for me, I’m a Prius driving renter, so I don’t have those problems. High gas prices are only going to make things better for me.
[/quote]Wrong jackass. The remaining balance on my mortgage represents 58% of the total cost of my purchase back in 2004. Of which, btw, an equal house only “emergency fund” that covers that entire principle amount is safely tucked away in 5 CD’s at 5 distinct institutions earning a pidly 4% APR, to I have to admit, I’m slightly losing money since my 30year jumbo mortgage rate is slightly higher at 5.5%.. I guess I’m sort of counting on rates not staying this low on the emergency fund, though I could be wrong. This obviously excludes any highly speculative dumbass shit I do in stock/index/reverse index/options, which so far I’m proud to admit is down 25% this year.
Do I feel comfortable about the economy? Hell no. Do I look forward to seeing some folks around me eat shit? Hell no. Do I think I’m going to be not impacted someway? Hell no…We haven’t even seen the real impact of massive unemployment yet in SD. You wait until you’re unemployed. Let’s see you figure out what to do with that plasma/lcd that you bought over memorial day once you have to relocate to another location…I normally don’t think this way, but as an exception this time, Breeze, I’m sure I’ll be in the economic shithole long after you’re drowning in it. Case in point, how’s your “dollar cost averaging portfolio” doing these days??????
July 4, 2008 at 2:29 PM #233226CoronitaParticipant[quote]Just read FLU’s post about his assessment going up. No wonder he’s so gloomy. He sees the value of his house going down every day while at the same time his property taxes keep going up.
Luckily for me, I’m a Prius driving renter, so I don’t have those problems. High gas prices are only going to make things better for me.
[/quote]Wrong jackass. The remaining balance on my mortgage represents 58% of the total cost of my purchase back in 2004. Of which, btw, an equal house only “emergency fund” that covers that entire principle amount is safely tucked away in 5 CD’s at 5 distinct institutions earning a pidly 4% APR, to I have to admit, I’m slightly losing money since my 30year jumbo mortgage rate is slightly higher at 5.5%.. I guess I’m sort of counting on rates not staying this low on the emergency fund, though I could be wrong. This obviously excludes any highly speculative dumbass shit I do in stock/index/reverse index/options, which so far I’m proud to admit is down 25% this year.
Do I feel comfortable about the economy? Hell no. Do I look forward to seeing some folks around me eat shit? Hell no. Do I think I’m going to be not impacted someway? Hell no…We haven’t even seen the real impact of massive unemployment yet in SD. You wait until you’re unemployed. Let’s see you figure out what to do with that plasma/lcd that you bought over memorial day once you have to relocate to another location…I normally don’t think this way, but as an exception this time, Breeze, I’m sure I’ll be in the economic shithole long after you’re drowning in it. Case in point, how’s your “dollar cost averaging portfolio” doing these days??????
July 4, 2008 at 2:29 PM #233233CoronitaParticipant[quote]Just read FLU’s post about his assessment going up. No wonder he’s so gloomy. He sees the value of his house going down every day while at the same time his property taxes keep going up.
Luckily for me, I’m a Prius driving renter, so I don’t have those problems. High gas prices are only going to make things better for me.
[/quote]Wrong jackass. The remaining balance on my mortgage represents 58% of the total cost of my purchase back in 2004. Of which, btw, an equal house only “emergency fund” that covers that entire principle amount is safely tucked away in 5 CD’s at 5 distinct institutions earning a pidly 4% APR, to I have to admit, I’m slightly losing money since my 30year jumbo mortgage rate is slightly higher at 5.5%.. I guess I’m sort of counting on rates not staying this low on the emergency fund, though I could be wrong. This obviously excludes any highly speculative dumbass shit I do in stock/index/reverse index/options, which so far I’m proud to admit is down 25% this year.
Do I feel comfortable about the economy? Hell no. Do I look forward to seeing some folks around me eat shit? Hell no. Do I think I’m going to be not impacted someway? Hell no…We haven’t even seen the real impact of massive unemployment yet in SD. You wait until you’re unemployed. Let’s see you figure out what to do with that plasma/lcd that you bought over memorial day once you have to relocate to another location…I normally don’t think this way, but as an exception this time, Breeze, I’m sure I’ll be in the economic shithole long after you’re drowning in it. Case in point, how’s your “dollar cost averaging portfolio” doing these days??????
July 4, 2008 at 2:29 PM #233274CoronitaParticipant[quote]Just read FLU’s post about his assessment going up. No wonder he’s so gloomy. He sees the value of his house going down every day while at the same time his property taxes keep going up.
Luckily for me, I’m a Prius driving renter, so I don’t have those problems. High gas prices are only going to make things better for me.
[/quote]Wrong jackass. The remaining balance on my mortgage represents 58% of the total cost of my purchase back in 2004. Of which, btw, an equal house only “emergency fund” that covers that entire principle amount is safely tucked away in 5 CD’s at 5 distinct institutions earning a pidly 4% APR, to I have to admit, I’m slightly losing money since my 30year jumbo mortgage rate is slightly higher at 5.5%.. I guess I’m sort of counting on rates not staying this low on the emergency fund, though I could be wrong. This obviously excludes any highly speculative dumbass shit I do in stock/index/reverse index/options, which so far I’m proud to admit is down 25% this year.
Do I feel comfortable about the economy? Hell no. Do I look forward to seeing some folks around me eat shit? Hell no. Do I think I’m going to be not impacted someway? Hell no…We haven’t even seen the real impact of massive unemployment yet in SD. You wait until you’re unemployed. Let’s see you figure out what to do with that plasma/lcd that you bought over memorial day once you have to relocate to another location…I normally don’t think this way, but as an exception this time, Breeze, I’m sure I’ll be in the economic shithole long after you’re drowning in it. Case in point, how’s your “dollar cost averaging portfolio” doing these days??????
July 4, 2008 at 2:29 PM #233287CoronitaParticipant[quote]Just read FLU’s post about his assessment going up. No wonder he’s so gloomy. He sees the value of his house going down every day while at the same time his property taxes keep going up.
Luckily for me, I’m a Prius driving renter, so I don’t have those problems. High gas prices are only going to make things better for me.
[/quote]Wrong jackass. The remaining balance on my mortgage represents 58% of the total cost of my purchase back in 2004. Of which, btw, an equal house only “emergency fund” that covers that entire principle amount is safely tucked away in 5 CD’s at 5 distinct institutions earning a pidly 4% APR, to I have to admit, I’m slightly losing money since my 30year jumbo mortgage rate is slightly higher at 5.5%.. I guess I’m sort of counting on rates not staying this low on the emergency fund, though I could be wrong. This obviously excludes any highly speculative dumbass shit I do in stock/index/reverse index/options, which so far I’m proud to admit is down 25% this year.
Do I feel comfortable about the economy? Hell no. Do I look forward to seeing some folks around me eat shit? Hell no. Do I think I’m going to be not impacted someway? Hell no…We haven’t even seen the real impact of massive unemployment yet in SD. You wait until you’re unemployed. Let’s see you figure out what to do with that plasma/lcd that you bought over memorial day once you have to relocate to another location…I normally don’t think this way, but as an exception this time, Breeze, I’m sure I’ll be in the economic shithole long after you’re drowning in it. Case in point, how’s your “dollar cost averaging portfolio” doing these days??????
July 4, 2008 at 5:07 PM #233140an
Participant[quote=poorsaver]Breeze, you may be right for the long term, but short term there’s definitely a lot of pain being inflicted on Jo6P with higher oil. Not only gas prices, which are up 50 percent YTD, on top of being up 50 percent for 2007, but the inevitable inflation of goods that go hand and hand with higher oil. I’m not sure if the average citizen can survive financially until we ultimately make the transition to a life independent of oil.[/quote]
I don’ think he really cares much about J6p. He say he wants to tax the rich to help the poor. But then he turns around and get ecstatic when oil goes through the roof. My read on that is, he wants to tax the rich so HE can benefit and he wants oil price to go through the roof so HE can benefit. But little does he know, the J6p is already stretched thin. Doubling in gas price will, IMHO, be the straw that’ll break the camel’s back. He doesn’t seem to understand that we all are interconnected. Since J6p will be worrying about jobs and an ever increasing cost of living, they’ll buy less stuff, which will then affect the tech/retail/automobile/etc industries. Economically, we’re between a rock and a hard place right now. I don’t think there’s an easy fix for this problem. But parabolic rise in energy cost will only exacerbate the problem.July 4, 2008 at 5:07 PM #233264Participant[quote=poorsaver]Breeze, you may be right for the long term, but short term there’s definitely a lot of pain being inflicted on Jo6P with higher oil. Not only gas prices, which are up 50 percent YTD, on top of being up 50 percent for 2007, but the inevitable inflation of goods that go hand and hand with higher oil. I’m not sure if the average citizen can survive financially until we ultimately make the transition to a life independent of oil.[/quote]
I don’ think he really cares much about J6p. He say he wants to tax the rich to help the poor. But then he turns around and get ecstatic when oil goes through the roof. My read on that is, he wants to tax the rich so HE can benefit and he wants oil price to go through the roof so HE can benefit. But little does he know, the J6p is already stretched thin. Doubling in gas price will, IMHO, be the straw that’ll break the camel’s back. He doesn’t seem to understand that we all are interconnected. Since J6p will be worrying about jobs and an ever increasing cost of living, they’ll buy less stuff, which will then affect the tech/retail/automobile/etc industries. Economically, we’re between a rock and a hard place right now. I don’t think there’s an easy fix for this problem. But parabolic rise in energy cost will only exacerbate the problem.July 4, 2008 at 5:07 PM #233273Participant[quote=poorsaver]Breeze, you may be right for the long term, but short term there’s definitely a lot of pain being inflicted on Jo6P with higher oil. Not only gas prices, which are up 50 percent YTD, on top of being up 50 percent for 2007, but the inevitable inflation of goods that go hand and hand with higher oil. I’m not sure if the average citizen can survive financially until we ultimately make the transition to a life independent of oil.[/quote]
I don’ think he really cares much about J6p. He say he wants to tax the rich to help the poor. But then he turns around and get ecstatic when oil goes through the roof. My read on that is, he wants to tax the rich so HE can benefit and he wants oil price to go through the roof so HE can benefit. But little does he know, the J6p is already stretched thin. Doubling in gas price will, IMHO, be the straw that’ll break the camel’s back. He doesn’t seem to understand that we all are interconnected. Since J6p will be worrying about jobs and an ever increasing cost of living, they’ll buy less stuff, which will then affect the tech/retail/automobile/etc industries. Economically, we’re between a rock and a hard place right now. I don’t think there’s an easy fix for this problem. But parabolic rise in energy cost will only exacerbate the problem.July 4, 2008 at 5:07 PM #233317Participant[quote=poorsaver]Breeze, you may be right for the long term, but short term there’s definitely a lot of pain being inflicted on Jo6P with higher oil. Not only gas prices, which are up 50 percent YTD, on top of being up 50 percent for 2007, but the inevitable inflation of goods that go hand and hand with higher oil. I’m not sure if the average citizen can survive financially until we ultimately make the transition to a life independent of oil.[/quote]
I don’ think he really cares much about J6p. He say he wants to tax the rich to help the poor. But then he turns around and get ecstatic when oil goes through the roof. My read on that is, he wants to tax the rich so HE can benefit and he wants oil price to go through the roof so HE can benefit. But little does he know, the J6p is already stretched thin. Doubling in gas price will, IMHO, be the straw that’ll break the camel’s back. He doesn’t seem to understand that we all are interconnected. Since J6p will be worrying about jobs and an ever increasing cost of living, they’ll buy less stuff, which will then affect the tech/retail/automobile/etc industries. Economically, we’re between a rock and a hard place right now. I don’t think there’s an easy fix for this problem. But parabolic rise in energy cost will only exacerbate the problem.July 4, 2008 at 5:07 PM #233327Participant[quote=poorsaver]Breeze, you may be right for the long term, but short term there’s definitely a lot of pain being inflicted on Jo6P with higher oil. Not only gas prices, which are up 50 percent YTD, on top of being up 50 percent for 2007, but the inevitable inflation of goods that go hand and hand with higher oil. I’m not sure if the average citizen can survive financially until we ultimately make the transition to a life independent of oil.[/quote]
I don’ think he really cares much about J6p. He say he wants to tax the rich to help the poor. But then he turns around and get ecstatic when oil goes through the roof. My read on that is, he wants to tax the rich so HE can benefit and he wants oil price to go through the roof so HE can benefit. But little does he know, the J6p is already stretched thin. Doubling in gas price will, IMHO, be the straw that’ll break the camel’s back. He doesn’t seem to understand that we all are interconnected. Since J6p will be worrying about jobs and an ever increasing cost of living, they’ll buy less stuff, which will then affect the tech/retail/automobile/etc industries. Economically, we’re between a rock and a hard place right now. I don’t think there’s an easy fix for this problem. But parabolic rise in energy cost will only exacerbate the problem.July 4, 2008 at 8:19 PM #233208cooperthedog
ParticipantIts ironic and not a little hypocritical to chastise those that wish for higher oil/gas prices to bring about needed change.
Most on this board cheered the housing crash which has caused alot of misery and pain for those directly affected by it and indirectly via a weaker economy. In addition, many who wished for a rapid decline in housing, to purge the system, did so in self-interest, allowing them to eventually buy an affordable house, regardless of the overall impact to the economy & society.
I do not see much difference between housing bears and those that wish to see oil increase, or the stock market fall.
As for oil, in my opinion, I would like to see a massive, albeit temporary spike in prices. Even at these levels (140+), our leaders aren’t taking action (congress just let the alt. energy subsidies expire, & many politicians want to drill to solve the problem). We need a true wakeup call to force some change now, before its too late. A little pain now will be better than a true collapse later.
July 4, 2008 at 8:19 PM #233334ParticipantIts ironic and not a little hypocritical to chastise those that wish for higher oil/gas prices to bring about needed change.
Most on this board cheered the housing crash which has caused alot of misery and pain for those directly affected by it and indirectly via a weaker economy. In addition, many who wished for a rapid decline in housing, to purge the system, did so in self-interest, allowing them to eventually buy an affordable house, regardless of the overall impact to the economy & society.
I do not see much difference between housing bears and those that wish to see oil increase, or the stock market fall.
As for oil, in my opinion, I would like to see a massive, albeit temporary spike in prices. Even at these levels (140+), our leaders aren’t taking action (congress just let the alt. energy subsidies expire, & many politicians want to drill to solve the problem). We need a true wakeup call to force some change now, before its too late. A little pain now will be better than a true collapse later.
July 4, 2008 at 8:19 PM #233343ParticipantIts ironic and not a little hypocritical to chastise those that wish for higher oil/gas prices to bring about needed change.
Most on this board cheered the housing crash which has caused alot of misery and pain for those directly affected by it and indirectly via a weaker economy. In addition, many who wished for a rapid decline in housing, to purge the system, did so in self-interest, allowing them to eventually buy an affordable house, regardless of the overall impact to the economy & society.
I do not see much difference between housing bears and those that wish to see oil increase, or the stock market fall.
As for oil, in my opinion, I would like to see a massive, albeit temporary spike in prices. Even at these levels (140+), our leaders aren’t taking action (congress just let the alt. energy subsidies expire, & many politicians want to drill to solve the problem). We need a true wakeup call to force some change now, before its too late. A little pain now will be better than a true collapse later.
July 4, 2008 at 8:19 PM #233388ParticipantIts ironic and not a little hypocritical to chastise those that wish for higher oil/gas prices to bring about needed change.
Most on this board cheered the housing crash which has caused alot of misery and pain for those directly affected by it and indirectly via a weaker economy. In addition, many who wished for a rapid decline in housing, to purge the system, did so in self-interest, allowing them to eventually buy an affordable house, regardless of the overall impact to the economy & society.
I do not see much difference between housing bears and those that wish to see oil increase, or the stock market fall.
As for oil, in my opinion, I would like to see a massive, albeit temporary spike in prices. Even at these levels (140+), our leaders aren’t taking action (congress just let the alt. energy subsidies expire, & many politicians want to drill to solve the problem). We need a true wakeup call to force some change now, before its too late. A little pain now will be better than a true collapse later.
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