Wall Street pares losses in volatile trading

Bush never stole anything. The Supreme court had to make some kind of decision, right or wrong and I must remind you that we had a majority liberal court at that time. The bug eyed people try to determine what a chad was and also the people in FL apparently don't know how to vote. Gore did everything he could to get it to go his way but couldn't and he's had a chip on his shoulder ever since. So say what you will but the facts remain, Bush won, like it or not. The biggest oil people in DC are some of your most liberal reps and senators. You don't have to like Bush and he has done plenty I don't like also but no, he didn't steal the election.

Now let's see how quick the gas prices come down. Why did gas rise .16 a gallon yesterday if prices dropped for 2 straight days? Fricking oil companies are gouging everyone...

The price of oil has dropped $9 over the last two days. Lets see how long it takes for the decrease to be reflected at the gas pump. It seems that when the price goes up it shows at the pump within hours. Why do I feel that the reverse wont be the same?

RNM wrote:

Now let's see how quick the gas prices come down. Why did gas rise .16 a gallon yesterday if prices dropped for 2 straight days? Fricking oil companies are gouging everyone...

I see you and I both have the same idea. You were posting while I was typing.

Crude oil price tumbles but gas price is still high. What a bunch of crap.

Patrick wrote:

Believe it or not, there are still Republican propagandists and water carriers trying to tell people how great the economy is, even when the Dow is only 600 points or 6% over what it was when Bush stole his first term. Compare that to Dow performance under President Clinton: 230% or 7300 points gained during his presidency.
At the same time, employment is falling, the dollar is spiraling lower against other currencies, causing inflation at home, and gasoline and oil prices are higher than ever -- this with an oilman as president. Coincidence? I think not.
Guess all those tax cuts for the wealthy didn't create prosperity. But then, trickle down has never worked. Not under Hoover, not under Reagan and not now. The only way to have a stable, robust economy is to bolster the earning/spending power of working Americans, the way Clinton did and Obama will.

"bolster the earning/spending power of working Americans"?? By doing what? Obama's plan is to sock working Americans with even higher taxes. That is not the way to bolster the economy.

abby0802 wrote:

Our economy is sinking -- mortgage foreclosurers, job losses, high gas prices, high food prices. Sigh. Thank you, Bush et al, for a great economy. Of course, McCain who claims to know nothing about economics will be saying how things will be better when he's elected.
Do we need a change at the White House before we all lose our houses!

96% of mortgages are being paid on time, so put a lid on your misinformation propaganda. Are you losing your home? Know anybody? Remember about the "recession" under Bush Senior? Two years later, economists concluded that it never existed. This is all politics and Obama is just a fear monger.

Prediction: the price of crude will go down. The people who bought at $60 will sell at a tidy profit. The people who bought at $140 because some talking head said $200 was inevitable will lose their shirts--or, since a lot of them already lost their shirts on the dot-com bubble and their pants on the real-estate bubble, many will now lose their shorts (avert thine eyes!!)

Meanwhile, the price of gasoline will stay up until people start to consume less. Gas prices are driven only in small part by the price of crude; the bigger factor is the old "what the market will bear." When people start to consume less--particularly, when people make long term commitments to consuming less, like signing five-year contracts to buy hybrids instead of Hummers, or moving closer to work--the price will start to come down (and even if it doesn't at least those people will be spending less on gas...)

There Will Be Blood wrote:

<quoted text>
"bolster the earning/spending power of working Americans"?? By doing what? Obama's plan is to sock working Americans with even higher taxes. That is not the way to bolster the economy.

Stop lying about Obama's economic policy. Why must you be such a lemming?

If the Democrats would approve deep sea drilling for oil, along with Anwar and Rocky Mountain Shale, the price of gasoline would drop immediately, solely on the threat to the Muslim Arab despots of competition on the horizon. Will the Demos do it? No. And it's no wonder their approval rating in Congress is now down to 9 (that's nine, single digit) percent in today's Rasmussen poll. Look out November!

Scott Free wrote:

Prediction: the price of crude will go down. The people who bought at $60 will sell at a tidy profit. The people who bought at $140 because some talking head said $200 was inevitable will lose their shirts--or, since a lot of them already lost their shirts on the dot-com bubble and their pants on the real-estate bubble, many will now lose their shorts (avert thine eyes!!)
Meanwhile, the price of gasoline will stay up until people start to consume less. Gas prices are driven only in small part by the price of crude; the bigger factor is the old "what the market will bear." When people start to consume less--particularly, when people make long term commitments to consuming less, like signing five-year contracts to buy hybrids instead of Hummers, or moving closer to work--the price will start to come down (and even if it doesn't at least those people will be spending less on gas...)

iF WE REALLY WANT TO SEE GAS PRICES GO DOWN, ALL WE HAVE TO DO IS STOP DRIVING ON SUNDAY AFTER WE COME HOME FROM CHURCH. THE SPECULATORS WILL PANIC AND START SELLING OUT THEIR CONTRACTS COMING UP FOR DELIVERY AT PRICES THAT MORE RESEMBLE THE ACTUAL COST TO PRODUCE OIL WHICH IS ABOUT 60 BUCK A BARREL.

If the Democrats would quit blocking new oil drilling, the price would drop immediately just because of the prospect of America being able to end its heavy dependence on Muslim Arab oil gazillionaires. Competition does predictable things to prices.

The end is near wrote:

Its the end of the world, folks. The American economy is doomed to collaspe under $200/barrel oil. In the near future we're going to be paying $7.00/gallon to fuel our cars. The rise in fuel costs are going to drive up the cost of every product and service we consume. The middle class will disappear and there will only be the poor and the rich. Its happening. Say goodbye to your SUV, plasma TV, granite countertops in your luxury kitchen. The end is near!
Don't bet the Federal Reserve is going to figure this mess out, its scary because they don't have a clue either. Even more frightening is our only two presidential candiates are Barak Obama and John McCain. Our way of life we've all been accustomed to in modern America is coming to an end folks. Believe me, its nearly over...

Ok Chicken Little...if you say so.

Today the stocks of Fannie Mae and Freddie Mac fell again. Year to date they are down about 80% and there is talk that they may go Bankrupt. The federal Government will have to bail them out and the estimated cost will be $1 Trillion dollars. The stock of GM is down to $10 and there is speculation that Gm will have to file Bankruptcy. Besides the loss of 10,000's of jobs, he federal government will then have to assume the liability for their pensions. The cost will be hundreds of billions of dollars. Things do not look good no matter who wins in November.

Food for oil.
Let's slap a 1000% tariff on ALL American foodstuff exports to OPEC countries - NOW!
A bbl of oil at $150, a bushel of wheat > $1,500.
They have their cartel, we can have ours!
What ARE we waiting for?

Clip Joint wrote:

Beat the rush and dump mfg. stocks...

Maybe, but DEFINITELY get out of anything denominated in dollars.

I told everyone to buy gold and silver five years ago. They thought I was nuts. And it's still where they should be.

Stay in US stocks and go down with the herd.

[QUOTE who="WALL STREET GREED SPECULATION IS HURTING AMERICA.[/QUOTE]

Aside from your "hurray for my team" stupidity, you are UTTERLY wrong about speculation.

SPECULATION STABILIZES PRICES!!!!!!!

Learn some economics. That's right, read an actual book buy Friedman or Hayek or Mises.

Kerry wrote:

If the Democrats would approve deep sea drilling for oil.. the price of gasoline would drop immediately

I'm not sure it would be immediate, but yes.

The government needs to STOP RESTRICTING THE MARKET.

Get the hell out of the way and let people produce!!

Yeah, I do think the party is over for America. All Empires have the decline, Roman, British, etc. America has become fat, stupid and lazy. The wealthiest country in the world with supposedly the best universities in the world and we can't devise some other strategy than let's drill for oil everywhere. There is a finite supply of oil and burning it causes all sorts of ills like global warming and even respiratory problems. Why hasn't there been a mandate by our government to develop renewable sources of energy and to mandate conservation? Don't we elect leaders to make intelligent and tough (unpopular)decisions? I have lost all optimism for my country and it makes me deeply sad.

no name wrote:

Wow. Only 5.5% unemployment? Ten years ago that was cause for celebration and rhetoric about the "strong" economy.

I have never put much stock in unemployment figures. They don't capture Americans who have simply given up looking and those who have taken much lower paying jobs. Furthermore, wages have not kept up with inflation. The income gap between the wealthy and the middle class has never been greater. So quote me the 5.5% rate all you want. Just take a look all around the country without your political glasses on and the picture is anything but rosy.