So you think low fuel prices are good news.
Given investors jitters, you might want to rethink that because the market looks like it’s headed for trouble.
Lots of folks are applauding at the fact that consumers have 14 billion dollars more money in their pockets given the low fuel prices. The problem is it’s causing jitters on Wall St among investors. What that means is there is now serious good reason to worry. Here is why. If investors start pulling money out of the market, guess what’s going to happen to interest rates on your variable mortgage, car loans, credit card balances etc. There is also good reason to worry about how this will affect unemployment, new job creation, all of which are underreported in the media. Why do you think that is? Consider this, the lead story on the CBS evening news tonight was for the first time since spring 2009, oil prices are below 50 dollars a barrel and since June of last year the price of oil has dropped in half.
CBS Evening News - Video report - Markets Dive As Oil Prices Hit 6 Year Low
http://www.cbsnews.com/...
Short sighted people given the low fuel costs are out buying lots of new big gas guzzling cars again because happy days are here again! With low fuel costs, people feel they’re living back in the good ol’ days. Predictably this has caused new car sales to spike -- driven by happy talk. People are forgetting what can happen with variable interest rates to their new car loans which is the last thing a new car sales person wants you to think about. In fact as no one seems to want to think about it or talk about it, that prompted me to write my diary because we should be thinking about whats happening to us in this win-or-take-all economy, whose favorite buzz word has become “ foreclosure”. If the media isn’t talking about something it’s a sure bet its in our interest to discuss it because silence both in the media and on alternative media (message boards) allowed the 2008 Wall St crash to sneak up on us. As if it were a surprise! Well, fool us once shame on you. Fool us twice, shame on us. That’s the name of that tune. For anyone who thinks silence is golden - - please think again.
Lets remember to belly up to the new car sales counter and pick up that brand spanking new fossil fuel GAS GUZZLER to help pollute the environment and create even more grid lock and Co2 emissions because with low gas prices --- we don't need green energy! After all haven't you heard? Happy days are here again. Yiiiippee.