It all points to the bottom line. Whoever was first to use China as a way to increase it should be shot. Now everyone has joined in to compete took all the today's jobs with them and leaving none here to support our people. Now we are struggling at home and the traders are finding ways to make energy sector volatile to increase their bottom line. Now we have a new player to contend with for oil/resources and a communist one to boot. Now they're stealing trade secrets and are extremely good at it. So more jobs are disappearing now. Yesteryear we didn't have all the toys & gizmos we do today. Call it technology gain or whatever but to me every thing is cheap and throwaway now. My traveling clock from the 80's is still running today and put in a second set of batteries only. It's was made in Japan with a LCD screen with a actual light which is the weak link as the tech wasn't invented yet. It still lights up but dim. My old Danby dehumidifier is still running and my latest chinese Maytag one died. I could go on and on..... So now China has money and so will its army which will be something to contend with in the future. So back to the bottom line, the rich is what is killing the economy and our countries. Enough venting
Oldspartantrader is bang on and Chinese pellets was just a way of opening eyes to the way the economy is heading, no truth to the matter.
I agree. Those who lost their jobs in the oil industry at least around here are multi skilled . They will suck up their unemployment and go back to work where their other skills fall in. Most of those jobs were phat coin. A friend of mine started in 09 in the oil field and built a NEW $180,000 house with cash 2 years ago. Most oil grunts partied like 1999 and blew their salary. Their own fault if they cant pay their bills now that their laid off. Small business' should be diversified enough to weather the downturn. Lower, stable oil prices puts $ in everyone's pocket (lower heat and transport costs and lower input costs for consumables),, not just a small percentage working. Those who profited from boom oil should have banked some for bust. It's the nature of the biz.
I don't blame those who moved production to China so much as I blame those who forced that action with the largest amount of regulations and the highest corporate tax rates in the world.
A great idea which, unfortunately, will never happen. OPEC has provided the defacto solution by flooding the market making speculation a low profit game. This is a good thing for the world. The argument is that OPEC is is trying to force US producers out of business by selling at below US cost of production is valid. But so what? OPEC still profitable, let them play their game. Eventually they will either jack the price to increase profit or run out. At that point the US companies will be falling over themselves to restart production to catch the rising prices. THere is no risk to supply and the lower prices are good for everyone.
Here the banks are making x-amount of billions profit and the next year dips a little and they're crying foul and say they're bleeding Go figure
