Let's pray this continues

[m21sniper]

Oil down big again today. Hopefully it eventually drops back down under $100/bbl, where it belongs.

http://news.yahoo.com/s/ap/20080716/ap_on_bi_ge/oil_prices

[Joeaksa]

Dammit, we are in a recession. The stock market CANNOT go up 270 points today! That does not fit the Dem's tactics!

Everyone I talk with is working their rear off. Wonder where the recession is?

[Buckterrier]

And why is it dropping???????????????????????????????? Because of fear of a bad economy????????????????????????????
Wasn't it the oil prices in the F'ING first place that started this F'ING fiasco???????????????????????????????

I'm so glad 'they're' being kind too us

[Jims5543]

Originally Posted by Joeaksa

Dammit, we are in a recession. The stock market CANNOT go up 270 points today! That does not fit the Dem's tactics!

Everyone I talk with is working their rear off. Wonder where the recession is?

Right over here!!

Glad its good by you, its a mess in Florida. I have laid off 11 people in the last 2 years and if it does not pick up soon I am laying off 2 more to bring my company to 2 people me and my right hand man.

Every company here is like that. Even retail and restaurants.

Be glad its not like this in your neck of the woods in a lot of other places its really bad. Maybe we all should move to Phoenix, drive up your housing costs, over whelm your roads and schools and force the local government to raise taxes to insane levels in a hurry to keep up. Then as the housing prices go up due to demand, all the stick and ball players and the entire cast to Dr. 90210 can start flipping houses during the frenzy and before you know it your right where we are here in Florida. <--- true story.

If I were you, and times are good there, I would try to keep it quiet.

[Shaun @ Tru6]

Originally Posted by Joeaksa

Dammit, we are in a recession. The stock market CANNOT go up 270 points today! That does not fit the Dem's tactics!

Everyone I talk with is working their rear off. Wonder where the recession is?

Where is it? our Allentown cut&sew just went out of business. 5 stores (out of 116) that we are in closed in the last 4 weeks.

[Les Paul]

Boys don't feel bad. Today a company I have worked at for 28 years dropped a big old bombshell. We are cutting staff from 210 to 18 Jan 1 09. Company had record production, record profits in 07. All outsourced to China. Our CEO had a bonus of 44 mil in march. Our plant has a payroll of a little over 20 mil. If I had a dog in this hunt I think I'd zoom a 50 cal into his oversized noggin. I feel sorry for the remaining 140 that were told 2 months ago there would be anywhere from 140-45 worst case.

[74-911]

Originally Posted by m21sniper

Oil down big again today. Hopefully it eventually drops back down under $100/bbl, where it belongs.

All it takes is one hurricane in the Gulf of Mexico to send it back up to new highs.

[strupgolf]

Right on. Abdul-ala-mentagata-el-smith will sneeze tomorrow and the price will shoot up big time. Remember, up 20 cents, down 3, up 10 cents down 2, thats how it got to 4.15 around here.

[bivenator]

Les, thats awful. Sorry to hear that after 28 yrs you get the rug jerked out from under. Which company if you don't mind?

[kstar]

This is kind of in the theme of this thread, and pretty funny. I got it by email today:

Recession-Plagued Nation Demands New Bubble To Invest In

JULY 14, 2008 | ISSUE 44•29

WASHINGTON—A panel of top business leaders testified before Congress about the worsening recession Monday, demanding the government provide Americans with a new irresponsible and largely illusory economic bubble in which to invest.

"What America needs right now is not more talk and long-term strategy, but a concrete way to create more imaginary wealth in the very immediate future," said Thomas Jenkins, CFO of the Boston-area Jenkins Financial Group, a bubble-based investment firm. "We are in a crisis, and that crisis demands an unviable short-term solution."

The current economic woes, brought on by the collapse of the so-called "housing bubble," are considered the worst to hit investors since the equally untenable dot-com bubble burst in 2001. According to investment experts, now that the option of making millions of dollars in a short time with imaginary profits from bad real-estate deals has disappeared, the need for another spontaneous make-believe source of wealth has never been more urgent.

"Perhaps the new bubble could have something to do with watching movies on cell phones," said investment banker Greg Carlisle of the New York firm Carlisle, Shaloe & Graves. "Or, say, medicine, or shipping. Or clouds. The manner of bubble isn't important—just as long as it creates a hugely overvalued market based on nothing more than whimsical fantasy and saddled with the potential for a long-term accrual of debts that will never be paid back, thereby unleashing a ripple effect that will take nearly a decade to correct."

Congress is currently considering an emergency economic-stimulus measure, tentatively called the Bubble Act, which would order the Federal Reserve to† begin encouraging massive private investment in some fantastical financial scheme in order to get the nation's false economy back on track.

Current bubbles being considered include the handheld electronics bubble, the undersea-mining-rights bubble, and the decorative office-plant bubble. Additional options include speculative trading in fairy dust—which lobbyists point out has the advantage of being an entirely imaginary commodity to begin with—and a bubble based around a hypothetical, to-be-determined product called "widgets."

The most support thus far has gone toward the so-called paper bubble. In this appealing scenario, various privately issued pieces of paper, backed by government tax incentives but entirely worthless, would temporarily be given grossly inflated artificial values and sold to unsuspecting stockholders by greedy and unscrupulous entrepreneurs.

"Little pieces of paper are the next big thing," speculator Joanna Nadir, of Falls Church, VA said. "Just keep telling yourself that. If enough people can be talked into thinking it's legitimate, it will become temporarily true."

Demand for a new investment bubble began months ago, when the subprime mortgage bubble burst and left the business world without a suitable source of pretend income. But as more and more time has passed with no substitute bubble forthcoming, investors have begun to fear that the worst-case scenario—an outcome known among economists as "real-world repercussions"—may be inevitable.

"Every American family deserves a false sense of security," said Chris Reppto, a risk analyst for Citigroup in New York. "Once we have a bubble to provide a fragile foundation, we can begin building pyramid scheme on top of pyramid scheme, and before we know it, the financial situation will return to normal."

Despite the overwhelming support for a new bubble among investors, some in Washington are critical of the idea, calling continued reliance on bubble-based economics a mistake. Regardless of the outcome of this week's congressional hearings, however, one thing will remain certain: The calls for a new bubble are only going to get louder.

"America needs another bubble," said Chicago investor Bob Taiken. "At this point, bubbles are the only thing keeping us afloat."

Source: http://www.theonion.com/content/news/recession_plagued_nation_demands

[futuresoptions]

FYI I bet once it bottoms out, that it rebounds back to at least 50% of the drop......cha ching$$$$$