OT Dow Jones Down

[SlyPokerDog]

Record executive bonuses for Airlines are coming after fed bail them out.

FTFY

 

[EL PRESIDENTE]

FTFY

Can't wait until Michael Lewis' movie about this all.

 

[kjironman1]

Well, I don't know what to tell you...I know what I paid for gas Saturday and I know what I paid about a month ago.

Gas prices also fluctuate a good bit in different areas of different states.

Not having a hard time at all with your facts. Just having a hard time with the fact that regular gas in Oregon/Washington is at $2.80-90 while other areas are much cheaper but still way too high.
Like the national average being down only .17 cents when the price for a barrel of oil is historically low?

 

[kjironman1]

That won't be the bottom. I'd wait until 17,499

barfo

Close enough for me.

 

[yankeesince59]

Not having a hard time at all with your facts. Just having a hard time with the fact that regular gas in Oregon/Washington is at $2.80-90 while other areas are much cheaper but still way too high.
Like the national average being down only .17 cents when the price for a barrel of oil is historically low?

To be honest, aside from being aware of oil company greed, I've never really understood how the fluctuation can be so great either. I mean there can be $0.25 difference between the price along interstate highways or metros areas vs rural prices...or even state to state although of course, differences in fuel taxes that other states may levy can also sometimes add to the discrepancies.
I've noticed just going from Ga to Fla there can be $.40-.50 a gallon differences in price...another thing I wrestle with is when there's a hurricane in the gulf of Mexico, why does gas go immediately up $.25 or so?...I mean the oil those platforms has not even made it to the gas pumps yet.

...actually, I'm not sure they really want us to "figure it out".

 

[e_blazer]

Not having a hard time at all with your facts. Just having a hard time with the fact that regular gas in Oregon/Washington is at $2.80-90 while other areas are much cheaper but still way too high.
Like the national average being down only .17 cents when the price for a barrel of oil is historically low?

Oregon, Washington and California all require ethanol to be blended into the gas, and they all have high gas taxes. California also has a state cap and trade law that raises the cost at the pump.

 

[Shaboid]

To be honest, aside from being aware of oil company greed, I've never really understood how the fluctuation can be so great either. I mean there can be $0.25 difference between the price along interstate highways or metros areas vs rural prices...or even state to state although of course, differences in fuel taxes that other states may levy can also sometimes add to the discrepancies.
I've noticed just going from Ga to Fla there can be $.40-.50 a gallon differences in price...another thing I wrestle with is when there's a hurricane in the gulf of Mexico, why does gas go immediately up $.25 or so?...I mean the oil those platforms has not even made it to the gas pumps yet.

...actually, I'm not sure they really want us to "figure it out".

Fuel taxes aside, I think having refineries near by is a major factor.

 

[yankeesince59]

Fuel taxes aside, I think have refineries near by is a major factor.

Yeah, I'm sure distribution cost have something to do with it too.

But I would think that points along major highways would be cheaper because of that fact, but it seems that it's been my experience that it's usually the opposite...who knows.

 

[EL PRESIDENTE]

 

[Hoopguru]

They all belong to the illuminati and the CFR!

 

[ehizzy3]

Bailing out the corporations instead of the regular American. Didn’t trump run against that?

 

[SportsAndWhine]

You don't lose until you sell.

Or die.

 

[EL PRESIDENTE]

Bailing out the corporations instead of the regular American. Didn’t trump run against that?

He *was* also against all the QE and FED policies that helped out Obama. Grass is greener on the other side I guess.

 

[UncleCliffy'sDaddy]

It’s an old ass explanation, but my dad told me as a kid that the gas was higher on the interstates because the traveler was paying for the “convenience”, rather than dealing with the time and hassle of finding your way around a (likely) strange town looking to save a few cents a gallon. At the interstate gas stations you just gas up and keep going. As a recent hardcore road tripper it sounds reasonably plausible to me.....

 

[kjironman1]

Oregon, Washington and California all require ethanol to be blended into the gas, and they all have high gas taxes. California also has a state cap and trade law that raises the cost at the pump.

Fuel taxes aside, I think having refineries near by is a major factor.

Both of these issues are true and absolutely part of the overall equation but what we are dealing with now is the world price has dropped well below $30 a barrel. That is the point. Oregon and Washington have seen even less than the national .17 cents reduction that should be around .70-.90 cents at the very least. We should be paying $2 or less a gallon right now with the taxes and no refineries in our general location.

 

[kjironman1]

Sure. Lets go limit up now after dropping 3000 points. It's kind of like a bunch of rich people are just playing with monopoly money. Futures currently up 680 points.

Edit 760 points up

 

[UncleCliffy'sDaddy]

Another part of the reason gas is cheaper the farther east you go is that, unlike the west there are a shitload of major transportation centers (airports in particular) that are all a great (great) deal closer together than out west. Gas is far more plentiful (being much closer to the refineries) and much cheaper to transport.

 

[donkiez]

Sure. Lets go limit up now after dropping 3000 points. It's kind of like a bunch of rich people are just playing with monopoly money. Futures currently up 680 points.

Edit 760 points up

That's exactly what's happening. It's tanking but they will shake you down for all you have on the way down.

 

[Hoopguru]

It’s an old ass explanation, but my dad told me as a kid that the gas was higher on the interstates because the traveler was paying for the “convenience”, rather than dealing with the time and hassle of finding your way around a (likely) strange town looking to save a few cents a gallon. At the interstate gas stations you just gas up and keep going. As a recent hardcore road tripper it sounds reasonably plausible to me.....

pay for service!

 

[julius]

That's exactly what's happening. It's tanking but they will shake you down for all you have on the way down.

So, par for the course then.

 

[donkiez]

2 of the top 5 worst days have occurred in the last 4 days. Some interesting numbers to look at here also, like the horrific day in 1899 when the market lost 5.57 points! Look at % change.

https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average

 

[Lanny]

My father in law lost $14,000

I probably lost much much more than that and I'm mostly out of the stock market. I'm enough in it to lose tens of thousands yesterday alone.

 

[SlyPokerDog]

 

[yankeesince59]

Not sure about the rest but most airlines were already hurting.

 

[EL PRESIDENTE]

So I've been looking to buy a place in Vegas. Chances are their economy is going to get creamed now and their housing market should fall off a cliff.

When do you think the time to buy would be?

 

[barfo]

Sure as shit cruise ships should not be bailed out. That would be like bailing out the tobacco industry.

Airlines, you can at least make a case that we need them for the rest of the economy to work.

barfo

 

[EL PRESIDENTE]

I wouldn't bail any airlines out.

Let them fail and whoever's left is left.

The airlines have been fucking us for years with excess fees and what not. Same with the hotel industry.

 

[yankeesince59]

So I've been looking to buy a place in Vegas. Chances are their economy is going to get creamed now and their housing market should fall off a cliff.

When do you think the time to buy would be?

I'd imagine most housing markets will down for awhile...needless to say, the big question is how long it will last.

 

[EL PRESIDENTE]

I'd imagine most housing markets will down for awhile...needless to say, the big question is how long it will last.

I guess it really depends on how long this moratorium on foreclosures, etc. However, I think last time people stopped paying their mortgages for like 12-18 months until they were forcibly kicked out.

 

[yankeesince59]

I guess it really depends on how long this moratorium on foreclosures, etc. However, I think last time people stopped paying their mortgages for like 12-18 months until they were forcibly kicked out.

My niece and nephew just got back from a week in Vegas...they said there were a bunch of folks walking around with masks and those paper shoe covers people wear in quarantined labs.

They also said the Raiders new stadium is gorgeous...they said it looks like a huge chunk of Onyx.