OK, maybe some of you whiz-kid investor types can explain this:
Oil just did something it hasn’t done in more than 30 years (hint: it isn’t good)
If I understand correctly, the article suggests that lower oil prices are bad.
Now, for me personally, for everyone I know, and for every business I can think of (except oil producers and their support industries), lower oil prices are a good thing.
I've observed that that overall economy seems to do poorly when oil prices spike, although admittedly ExxonMobile stockholders do well.
I look at oil prices like taxes. Something everyone has to pay, and something that's priced into every product we buy. Lower the "tax" and it frees up all kinds of money which does its multiplier effect thing throughout the economy.
So why are the financial news outlets always crying when the price goes down, and happy when it goes up?
Oil just did something it hasn’t done in more than 30 years (hint: it isn’t good)
If I understand correctly, the article suggests that lower oil prices are bad.
Now, for me personally, for everyone I know, and for every business I can think of (except oil producers and their support industries), lower oil prices are a good thing.
I've observed that that overall economy seems to do poorly when oil prices spike, although admittedly ExxonMobile stockholders do well.
I look at oil prices like taxes. Something everyone has to pay, and something that's priced into every product we buy. Lower the "tax" and it frees up all kinds of money which does its multiplier effect thing throughout the economy.
So why are the financial news outlets always crying when the price goes down, and happy when it goes up?
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