the world received a tax refund this morning ...

[Dancing Fire]

with oil price dropping $7 per barrel and $40 from its all time high. now...only if we can get Pelosi and the Dems to realize that lower oil prices is the key to the world economy.

LET START DRILLING NOW !!!

 

[joflier]

I like the title to your topic!

 

[Beacon]

I think today''s price drop is a very good indication of how much speculation has increased prices and continues to whip prices around.

I am very happy to also see that conservation of oil/gas by consumers had a strong effect on pricing too. I think the idea of changing people''s behavior through more conservation measures is great.

 

[ursulawrite]

I''m with T Boone Pickens on this one: oil is not the future.

As someone born in the UK, these cries of, "lo, oil is *so* expensive" make me cringe. Try paying 1.20 GBP a LITRE.

 

[ksinger]

Date: 9/2/2008 5:53:14 PM
Author: ursulawrite
I''m with T Boone Pickens on this one: oil is not the future.

As someone born in the UK, these cries of, ''lo, oil is *so* expensive'' make me cringe. Try paying 1.20 GBP a LITRE.

Indeed.

Yeah, we Americans ARE given to whining and wailing about things a lot aren''t we? So, how''s YOUR tax rate over there ursulawrite? DancingFire seems to think that giving even a penny in taxes is quite an affront. He mentions taxes in virtually every single post in fact....

 

[Anna0499]

Date: 9/2/2008 6:03:21 PM
Author: ksinger
Indeed.

Yeah, we Americans ARE given to whining and wailing about things a lot aren't we? So, how's YOUR tax rate over there ursulawrite? DancingFire seems to think that giving even a penny in taxes is quite an affront. He mentions taxes in virtually every single post in fact....

I would refrain from attacking PSers individually...everyone has a right to express their views on issues important to them...it doesn't mean they have to be important to or shared by anyone else. Not trying to be a "net nanny" but Ali has already warned us repeatedly about this.

 

[ursulawrite]

I'm located this side of the pond these days.

I will say that the tax rate in the UK is far from perfect. Once you start earning 34k GBP, your tax rate jumps to 40%, which is a considerable chunk if you live in London and are subject to paying astronomical rents and--if you're lucky--a mortgage. Most will agree that 34k GBP does not a princely sum make, though the powers that be have yet to reach an agreement on what constitutes a high earner.

The NHS is paid for through National Insurance, which, like income tax, is a monthly deduction. Roughly 10% is paid for by the employee, and 10% by the employer. The NHS comes in for a lot of criticism, but it certainly came in handy during my kidney stent operation and a routine laparoscopy, both of which were promptly scheduled and completely free. The populace is wont to gripe, but there would be uproar if the NHS was disbanded overnight.

 

[Dancing Fire]

Date: 9/2/2008 5:53:14 PM
Author: ursulawrite
I''m with T Boone Pickens on this one: oil is not the future.

As someone born in the UK, these cries of, ''lo, oil is *so* expensive'' make me cringe. Try paying 1.20 GBP a LITRE.

this guy is so full of BS ....

one day he was on CNBC saying that oil price will drop to $70 per barrel then 10 days later he said oil will go to $200 per barrel by thee end of this year.

 

[Dancing Fire]

Date: 9/2/2008 6:03:21 PM
Author: ksinger

Date: 9/2/2008 5:53:14 PM
Author: ursulawrite
I'm with T Boone Pickens on this one: oil is not the future.

As someone born in the UK, these cries of, 'lo, oil is *so* expensive' make me cringe. Try paying 1.20 GBP a LITRE.

Indeed.

Yeah, we Americans ARE given to whining and wailing about things a lot aren't we? So, how's YOUR tax rate over there ursulawrite? DancingFire seems to think that giving even a penny in taxes is quite an affront. He mentions taxes in virtually every single post in fact....

i need every extra pennies to support my two daughters. nap time!!

 

[shel]

Date: 9/2/2008 10:51:31 AM
Author:Dancing Fire
with oil price dropping $7 per barrel and $40 from its all time high. now...only if we can get Pelosi and the Dems to realize that lower oil prices is the key to the world economy.

LET START DRILLING NOW !!!

Well, so much for that. It looks like the market CAN drop in response to falling oil prices. Best to elect the Dems if you want the economy to turn around. Personally, I''m content with a bear market--pays higher dividends.

 

[Dancing Fire]

Date: 9/4/2008 2:07:48 PM
Author: shel

Date: 9/2/2008 10:51:31 AM
Author:Dancing Fire
with oil price dropping $7 per barrel and $40 from its all time high. now...only if we can get Pelosi and the Dems to realize that lower oil prices is the key to the world economy.

LET START DRILLING NOW !!!

Well, so much for that. It looks like the market CAN drop in response to falling oil prices. Best to elect the Dems if you want the economy to turn around. Personally, I''m content with a bear market--pays higher dividends.

don''t matter who''s in office...the economy goes in cycles.
as for oil...i shorted the energy market since May.

i cover my short today.

 

[shel]

Date: 9/4/2008 4:34:27 PM
Author: Dancing Fire

Date: 9/4/2008 2:07:48 PM

Author: shel

Date: 9/2/2008 10:51:31 AM

Author:Dancing Fire

with oil price dropping $7 per barrel and $40 from its all time high. now...only if we can get Pelosi and the Dems to realize that lower oil prices is the key to the world economy.

LET START DRILLING NOW !!!

Well, so much for that. It looks like the market CAN drop in response to falling oil prices. Best to elect the Dems if you want the economy to turn around. Personally, I''m content with a bear market--pays higher dividends.

don''t matter who''s in office...the economy goes in cycles.

as for oil...i shorted the energy market since May.

i cover my short today.

Thanks for shorting! I sincerely mean it when I hope that your pessimism continues. If most investors think like you, then the bear market will be prolonged. I''ll be able to buy in low, and the increased dividend yield will (eventually) more than make up for the damage caused by the drop in stock prices, even if they remain permanently low. Gotta love those bear markets! Except when you''re just about to retire... then the bear market''s a curse. Good thing I''m nowhere near retirement.

 

[shel]

Date: 9/4/2008 4:34:27 PM
Author: Dancing Fire
don''t matter who''s in office...the economy goes in cycles.

True about the business cycle, but there might be a consistent advantage of having a Democrat in power. A quote from a New York Times article:

"Data for the whole period from 1948 to 2007, during which Republicans occupied the White House for 34 years and Democrats for 26, show average annual growth of real gross national product of 1.64 percent per capita under Republican presidents versus 2.78 percent under Democrats."

Link to the whole article here:

NYTimes

 

[Dancing Fire]

Date: 9/4/2008 7:07:49 PM
Author: shel

Thanks for shorting! I sincerely mean it when I hope that your pessimism continues. If most investors think like you, then the bear market will be prolonged. I''ll be able to buy in low, and the increased dividend yield will (eventually) more than make up for the damage caused by the drop in stock prices, even if they remain permanently low. Gotta love those bear markets! Except when you''re just about to retire... then the bear market''s a curse. Good thing I''m nowhere near retirement.

sometime i take a short position on some shares while i still hold many long positions of other stocks.