Banks/Money Managment

Gas projected to drop below $1 in some states. :shock: Hold on everyone.....

Ford and GM closing plants Thursday night til March 30, when they will evaluate.
 
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Another question for someone, if the stock market is of 33% or whatever that number is, who the hell keeps selling off? Why is everyone not sitting right? I don’t understand I guess


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JKbrick said:
Another question for someone, if the stock market is of 33% or whatever that number is, who the hell keeps selling off? Why is everyone not sitting right? I don’t understand I guess


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Some people think it's going lower...then will try to get back in when it is lower...very chancy...and they also might think some companies or funds may never recover and dissolve...
 
Brute said:
Some people think it's going lower...then will try to get back in when it is lower...very chancy...and they also might think some companies or funds may never recover and dissolve...
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Or even though they’re selling at a depressed price they’re still making money or breaking even because they bought at an even lower price.


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fiend said:
Or even though they’re selling at a depressed price they’re still making money or breaking even because they bought at an even lower price.


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There are a few that are making money on the margins...but the market is so unpredictable right now, it would be easy to get burned...
 
There is so much uncertainty and risk right now. I know some of the videos I posted earlier are long, boring for some, and definitely outside of the mainstream, but for anyone curious enough to watch, they provide a totally different perspective on things. I am far from a financial expert and have had my gains, losses, and mistakes throughout the years, but what we're seeing here, IMO, is new territory. This market and world is so different now than it even was 20 years ago, let alone during the times of the 40s, or 30s, or even prior to paper money. And keep in mind that the USD is the World's Reserve Currency. This is a global issue.
 
People who don't think ahead will buy expensive gas guzzlers while gas is cheap, then cry when it over corrects back to $6+ per gallon because supply got crushed by the cheap prices.
 
Brute said:
Heading into uncharted territory...
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Don’t be surprised if it gets to $15/bbl. I still think it will correct itself to $50 by the end of the summer but I’ve never seen it like this, so who knows. The scarier part is, how many of these oil producers are about to shut down for good? Most shale producers have mountains of debt. A lot of oil fields are about to be on the market for cheap.


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Exodus Jeeps said:
Don’t be surprised if it gets to $15/bbl. I still think it will correct itself to $50 by the end of the summer but I’ve never seen it like this, so who knows. The scarier part is, how many of these oil producers are about to shut down for good? Most shale producers have mountains of debt. A lot of oil fields are about to be on the market for cheap.


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There is going to be such a glut of oil reserves that this will not be corrected in 5 months...I would not be surprised if the price of oil makes a comeback to pre-crisis levels for well over a year...or more...Just with the huge reduction in airline flights alone, not to mention global shipping, there will far less oil demand for a long, long time...
 
The Saudis may finally get their wish to break the shale producers.

I hope not, as OPEC returning to prominence will not be a good thing for any of us.
 
Exodus Jeeps said:
Don’t be surprised if it gets to $15/bbl. I still think it will correct itself to $50 by the end of the summer but I’ve never seen it like this, so who knows. The scarier part is, how many of these oil producers are about to shut down for good? Most shale producers have mountains of debt. A lot of oil fields are about to be on the market for cheap.


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(Googles how to buy and run an oil field, first time buyer)


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