Falling oil prices: The downside

[red states rule]

Leave it to the liberal media to try and turn good news into bad news. The liberal media played up high oil prices and how the folks were suffering - now that the price is dropping people will suffer

They have to paint doom and gloom to help the Dems and the messiah




Falling oil prices: The downside
Lower prices mean less pain at the pump - but tougher times ahead for the economy

NEW YORK (Fortune) -- Oil prices are falling sharply, and that's good news. But not nearly as good as you might think.

No doubt the drop, down to $120 by mid-day Monday, gives strapped consumers relief at the gas pump. Prices have dropped below $4 a gallon and could be headed toward $3.50, going by trading in wholesale futures markets. Any decline will be welcomed by Americans struggling under the burden of falling house prices, rising layoffs and stagnant wages.

But falling oil prices also suggest that the recession the U.S. has so far avoided is well on its way, as consumers pull back from the spending spree that drove economic growth earlier this decade. A weakening economy will mean more layoffs, further pressuring already reduced spending.

"There is no doubt that with gasoline prices dipping below $3.90 a gallon we have a bit of a reprieve on the energy front," Merrill Lynch economist David Rosenberg wrote in a report Monday, "but the reality is that this is a chicken and egg game because the decline is reflecting the consumer recession."

http://money.cnn.com/2008/08/04/news/oil.recession.fortune/index.htm

[Kathianne]

Gee, I thought the $10 a tank I'm saving was being spent elsewhere? :laugh2: Actually I know it is.

[red states rule]

Gee, I thought the $10 a tank I'm saving was being spent elsewhere? :laugh2: Actually I know it is.

It is so typical of the liberal media. For the last year they keep "reporting" how the US economy was in a recession when it was not

When the GDP was released, they downplayed and kept "reporting" how the recession was going to happen

Now they have to try a link any good economic news to the pending recession

Good economic news when a Republican is President is below the fold

Bad economic news when a Republican is President is headline news

[glockmail]

Rosenberg's not simply a liberal, but an Obamite. No wonder he's dim about basic economics.
Barack Obama moved closer to the DEM nomination after yesterday's victory in Oregon (despite Hillary's resounding victory in KY, Obama went into yesterday's primaries needing just 17 delegates to garner a majority and the way the DEMS allocate votes, he came out with more than 100 new delegates yesterday evening, putting him over the top). We're not going to claim to be political junkies, but all this is highly reminiscent of the intense battle between Gerald Ford and Ronald Reagan back in 1976 that also went all the way to the convention (Ford ended garnering barely more than 52% of the delegates)—and what happened when all was said and done was a Jimmy Carter victory as the GOP was still in healing mode during the presidential campaign (maybe this is why Hillary wants to take this to the finale—Reagan took the White House in resounding fashion in the next election in 1980).http://www.usnews.com/blogs/capital-commerce/2008/5/21/merrill-lynch-is-hillary-sabotaging-obama.html

[red states rule]

Rosenberg's not simply a liberal, but an Obamite. No wonder he's dim about basic economics.http://www.usnews.com/blogs/capital-commerce/2008/5/21/merrill-lynch-is-hillary-sabotaging-obama.html

Most liberals are sadly lacking in knowledge of basic economic principals

They love to spread the doom and gloom like a virus

[glockmail]

Most liberals are sadly lacking in knowledge of basic economic principals

They love to spread the doom and gloom like a virus

Only when a Republican is president though. They do understand the role that confidence has on the economy.

[red states rule]

Only when a Republican is president though. They do understand the role that confidence has on the economy.

Oh of course

It is doom and gloom when a Republican is President. Lok at how libs rewrite economic history during the Peanut Carter years.

They actually say he had a better economy then Pres Reagan

Even though Pres Reagan destoryed him in 1980 and was reelected with 49 states in 1984

[mundame]

Oh of course

It is doom and gloom when a Republican is President. Lok at how libs rewrite economic history during the Peanut Carter years.

They actually say he had a better economy then Pres Reagan

Even though Pres Reagan destoryed him in 1980 and was reelected with 49 states in 1984

RSR, your new avatar...................

The fact that there is such a photoshopping OUT there to acquire gives me the first real doubt I've had that Obalama might not win.

[red states rule]

RSR, your new avatar...................

The fact that there is such a photoshopping OUT there to acquire gives me the first real doubt I've had that Obalama might not win.

So far Obama is doing an outstanding job of showing the voters why is not qualified to be President

and we have about 85 days to go until election day.

[Kathianne]

http://pajamasmedia.com/blog/democrats-throwing-up-scarecrows-and-bogeymen/2/


Democrats Throwing Up Scarecrows and Bogeymen

Straw man arguments and scare tactics are no way to win an election.
August 5, 2008 - by Rand Simberg

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“There is no military solution.”

“We can’t drill our way out of this.”

...Al Gore’s goal of ending our dependence on fossil fuels in a decade is a worthy one. But the notion that it is a realistic one is ludicrous, misguided references to Apollo aside. And their mantra that drilling now wouldn’t result in new supplies on the market for ten years is nonsense on stilts, as anyone familiar with the industry would tell you. Existing platforms off the coast of California, dormant for a quarter of century or more, could be producing again within a year or so, and even new ones could bring oil to market in less, often much less, than ten.

If anything, it is the anti-driller’s proposed solutions — electric cars, wind power, advanced solar, geothermal — that will take many years, and perhaps decades (if ever) to become a major contributor to the solution to the problem. Yet those wanting to begin to solve the problem with increased near-term, low-risk fossil-fuel production are the ones accused of lacking feck.

The most telling indicator that drilling now can reduce prices now was demonstrated a couple weeks ago. Immediately after President Bush rescinded the executive order banning drilling off shore, the crude market fell steeply, for the first time in months, from its all-time highs. This occurred even though the Congressional ban remains in place, and no drilling is in immediate prospect....

Rand Simberg is a recovering aerospace engineer and a consultant in space commercialization, space tourism and Internet security. He offers occasionally biting commentary about infinity and beyond at his weblog,

[red states rule]

http://www.strangepolitics.com/images/content/116236.jpg