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rectly paying for gasoline isn't a problem for those people. However, they still feel the high price in how it affects people much more sensitive to the price. For example, a store owner (earning $250k/year from the store) might see less-wealthy people cutting back on discretionary purchases in order to funnel more money towards the now-costlier gas. Or maybe an Apple engineer, while still knocking down $250k/year salary. notices that he just lost $1MM in company stock value.
The real question is if pizza delivery places will stop charging the delivery fee, that was put in place (so they say) to offset high gas prices.
Sorry pizza dude, your tip will always be what I would have tipped minus delivery fee
Gold is down.
NAC is down 8%,
This has deflation written all over it.
Better start bailing out left and right: airlines, shale, cinemas, etc....
OPEN! FIRE!
The only reason I am upset is I am getting older and was planning on spending some of my investments this year.
And by this summer, you may still be able to.
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Can't really figure out what is going on with oil. From earlier reading, it seems that the Saudis wanted Russia to cut production to keep prices high, but the Russians refused.
So in retaliation, the Saudis massively boost production? WTF?
Maybe this is an attempt by the Saudis to put Russian producers out of business. It's certainly going to kill the US fracking industry, which cannot profitably extract oil at these prices.
And why would cheap oil be bad for the stock market? Seems like it would be good for everyone except Exxon.
Does this have implications for the dollar and US foreign policy? What exactly is likely to happen?