10-23-2008, 11:35 AM
If we go in to a deep prolonged depression, which very well could happen regardless who gets elected. Oil could go down to 8 or 10 bucks a barrel. That would give us gasoline at 98 cents per gallon.
But most people wont have 98 cents.
You might say "but what about China's increasing appetite for oil?"
Their need for fuel will go down to the old bicycle days when we stop buying goods from them.
If the new president decides to punish the people that hire folks and create jobs, that will force jobs overseas and cause people to shelter money offshore. Hawaii will see super cheap gas and a super deep depression.
http://www.nypost.com/seven/10132008/pos...133374.htm
Interest rates will go through the roof. People will want to keep what little money they have liquid in cash or bearing interest in a bank instead of stocks.
Stocks are what capitalize business. It is businesses that employee people.
Businesses are loath to borrow money at high interest, especially in a climate of depressed sales forecasts.
But most people wont have 98 cents.
You might say "but what about China's increasing appetite for oil?"
Their need for fuel will go down to the old bicycle days when we stop buying goods from them.
If the new president decides to punish the people that hire folks and create jobs, that will force jobs overseas and cause people to shelter money offshore. Hawaii will see super cheap gas and a super deep depression.
http://www.nypost.com/seven/10132008/pos...133374.htm
Interest rates will go through the roof. People will want to keep what little money they have liquid in cash or bearing interest in a bank instead of stocks.
Stocks are what capitalize business. It is businesses that employee people.
Businesses are loath to borrow money at high interest, especially in a climate of depressed sales forecasts.