Re: Recession
[Re: Kansas Cat]
#6944862
07/27/20 09:11 PM
07/27/20 09:11 PM
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Joined: Mar 2007
Posts: 35,176 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,176
McGrath, AK
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That is probably a good rule. In my defense, I bought it at what I thought was an inexpensive price! Next time it runs to 36 I will probably sell and look elsewhere. OUCH ! I certainly would But if I did it would go on up to 86
Mean As Nails
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Re: Recession
[Re: Kansas Cat]
#6944881
07/27/20 09:22 PM
07/27/20 09:22 PM
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Joined: Mar 2010
Posts: 5,948 2A Sanctuaries-W. OK & N. NM
Blaine County
trapper
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trapper
Joined: Mar 2010
Posts: 5,948
2A Sanctuaries-W. OK & N. NM
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Probably has nothing to do with what is happening in the cities. Don't worry, when enough city folks escape to God's country, they will screw it up too. If you live anywhere near a large metropolitan area, you already know what I mean. I have been in the oil business my whole life. Oil guys buying land is a recent development. They never needed to in the past. When oil prices are high again, they will be in the land buying business again. I want them to stay low. I still have a neighbor's place (or two) I want to buy.
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Re: Recession
[Re: white17]
#6944890
07/27/20 09:27 PM
07/27/20 09:27 PM
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Joined: Mar 2010
Posts: 5,948 2A Sanctuaries-W. OK & N. NM
Blaine County
trapper
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trapper
Joined: Mar 2010
Posts: 5,948
2A Sanctuaries-W. OK & N. NM
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No I think the airline problems are strictly related to the virus
Do you think oil will ever be "high" again ? Good question. Short of some major geopolitical disruption, I don't think we'll see $100 oil in the next ten or 15 years. Supply is just too great. I would be perfectly happy with $60-$70 oil. My clients would be too.
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Re: Recession
[Re: Kansas Cat]
#6944905
07/27/20 09:38 PM
07/27/20 09:38 PM
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Joined: Mar 2010
Posts: 5,948 2A Sanctuaries-W. OK & N. NM
Blaine County
trapper
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trapper
Joined: Mar 2010
Posts: 5,948
2A Sanctuaries-W. OK & N. NM
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Yes. Unless it is legislated out of existence or replaced by an alternative. The demand destruction caused by the virus will eventually disappear. OPEC will return to full production and the US production surge will subside. The increase in production associated with the horizontal drilling surge is a temporary bump. There is no secondary or tertiary production associated with the "shale" boom. These events will take time, but oil will be high again. Agree with you and White. Good points.
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Re: Recession
[Re: keets]
#6944910
07/27/20 09:42 PM
07/27/20 09:42 PM
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Joined: Dec 2006
Posts: 20,083 SEPA
Lugnut
trapper
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trapper
Joined: Dec 2006
Posts: 20,083
SEPA
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I have never had so much work. we are busy as well. Not buying equipment though, do not trust this economy and phone calls to continue into spring. me too , Les....2X the work I can even get done Same here. I know it doesn't mean much because as a small business owner my companies are just a tiny drop in a big ocean. But, I've been busier the last two-plus years than ever before in my forty-plus year-long career in residential construction/remodeling and property management. So are all of the general contractors and sub-contractions I know. I remember sitting in the office praying the phone would ring during the Obama years. Now I hope it doesn't. I've been subbing stuff out more than ever before and I'm still turning customers away left and right and i hate doing that. I tell them I'm booked for at least nine months to a year and some of them tell me they'll wait. I suspect they got similar results from other contractors. From my very narrow perspective, the economy is just fine. And if it tanks tomorrow, I'll still have work for nine months to year.
Eh...wot?
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Re: Recession
[Re: Kansas Cat]
#6945017
07/27/20 11:34 PM
07/27/20 11:34 PM
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Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,485
MN
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Has the FED ever purchased equities? Before this year had the FED ever purchased corporate bonds? I think they will buy equities, I think they will throw everything including the kitchen sink to avoid what is coming. I don't think it will happen in the next 6 to 12 months. If DXY drops another 15 20 points oil could make a run at $100 granted OPEC would have to make cuts.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Recession
[Re: Co�s]
#6945301
07/28/20 10:44 AM
07/28/20 10:44 AM
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Joined: Dec 2006
Posts: 15,734 MN, Land of 10,000 Lakes
Trapper7
trapper
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trapper
Joined: Dec 2006
Posts: 15,734
MN, Land of 10,000 Lakes
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We’ve either fallen off the edge of the cliff and don’t know it yet or are riding on some big bubbles IMO.
Help wanted signs at just about every business around here. My wife does hiring for a company with 180 employees and can’t keep or fill positions right now to save her life. Strange times Why would people want to return to work when they are getting more money with unemployment and $600 a week than they were earning at work? Thankfully, that will end. The new package proposed by the republicans would provide $200 per week instead of $600 like the democrats want. The republicans want a tax cut for workers. The democrats don't. I know a few people who are upset that they might have to return to work. I guess they think this free money should go on forever.
The difference between animals and humans is that animals would never let the dumbest ones lead the pack.
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Re: Recession
[Re: rex123]
#6945308
07/28/20 10:54 AM
07/28/20 10:54 AM
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Joined: Dec 2010
Posts: 11,205 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,205
Armpit, ak
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Why should workers get a tax cut? They got jobs and money.
Who is John Galt?
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Re: Recession
[Re: Trapper7]
#6945361
07/28/20 11:48 AM
07/28/20 11:48 AM
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Joined: Mar 2020
Posts: 1,018 MI
Co�s
trapper
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trapper
Joined: Mar 2020
Posts: 1,018
MI
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We’ve either fallen off the edge of the cliff and don’t know it yet or are riding on some big bubbles IMO.
Help wanted signs at just about every business around here. My wife does hiring for a company with 180 employees and can’t keep or fill positions right now to save her life. Strange times Why would people want to return to work when they are getting more money with unemployment and $600 a week than they were earning at work? Thankfully, that will end. The new package proposed by the republicans would provide $200 per week instead of $600 like the democrats want. The republicans want a tax cut for workers. The democrats don't. I know a few people who are upset that they might have to return to work. I guess they think this free money should go on forever. Agreed on the $600 being a bad idea. Don’t know anything about the tax cuts.
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Re: Recession
[Re: white17]
#6947259
07/29/20 11:11 PM
07/29/20 11:11 PM
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Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,485
MN
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..
If the Fed bought equities, what do you see as the result and who would be the beneficiaries ? That's a good question. Wall Street? Corporations? Pension plans? Personally I don't think anyone would benefit in the long run except the Federal Reserve. I'm of the opinion there is good odds that the markets will retest March lows, if it blows through those lows I don't see how the FED can not start buying equities.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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