some serious market action

[igrowone]

the Asian markets are really sliding right now, down over 7%
oil's below $78 a barrel, i think we may have finally crossed a line here
many seem drawn to the apocalypse and the like, not going to call it that
but this may be kicking off a new era in the world's economy
there just doesn't seem to be any more bullets in the financial guns

 

[Stranger]

Interest is the problem. Interest takes away, creates nothing.
Debt is the chain that binds.

The times they are a changin'

Hard to think the momentum will stop.
There is no answer to this, reset button looks like its been hit.

 

[turbolaser4528]

yeah pretty fuckin wild, dow fell 630 points today, most markets are slidin.

But all hope is not lost, hopefully this will incite major change in the USA and elsewhere, whether that is protests/riots, or new industries/policies taking the reigns. Alt energy, hemp, mmj tax code reform, entitlement reform, congress reform (lol!), etc!!

Optimistic or delusional?

I dont care, also down to sniff white lines and do some good ol fashioned rioting, YYEEEHAAAAW!

 

[igrowone]

yeah pretty fuckin wild, dow fell 630 points today, most markets are slidin.

But all hope is not lost, hopefully this will incite major change in the USA and elsewhere, whether that is protests/riots, or new industries/policies taking the reigns. Alt energy, hemp, mmj tax code reform, entitlement reform, congress reform (lol!), etc!!

Optimistic or delusional?

I dont care, also down to sniff white lines and do some good ol fashioned rioting, YYEEEHAAAAW!

the rioting part is the scary stuff, things can escalate very fast
europe is not in a good place, USA is a bit better, but that doesn't say much
China makes most of its money from the 2, guess how things may be there in a few months?
oil is down to about $76, that is one serious correction

 

[MrBluntfaced]

So oil has dropped about 25% in the last month and gas prices have only dropped 5-10% at MOST...this seems fucked up, but I am about as far from educated on the matter as you can get -__-

Can anyone explain this to me a tid bit better?

 

[Sam the Caveman]

The drop in the price of gas lags the decrease in oil prices, usually a bit more than the increase.

check this chart out

 

[Sam the Caveman]

the market is being discussed in depth in this thread

https://www.icmag.com/ic/showthread.php?t=200756

 

[HempKat]

So oil has dropped about 25% in the last month and gas prices have only dropped 5-10% at MOST...this seems fucked up, but I am about as far from educated on the matter as you can get -__-

Can anyone explain this to me a tid bit better?

They claim the price you pay at the pumps now is based on oil prices of several weeks ago. Which seems odd because when the oil price goes up in the market the gas prices rises along with it in a matter of days or even hours sometimes.

 

[Sam the Caveman]

They claim the price you pay at the pumps now is based on oil prices of several weeks ago. Which seems odd because when the oil price goes up in the market the gas prices rises along with it in a matter of days or even hours sometimes.

Thats called price gouging, the problem is no one is going to sue the private gas station owners for the difference it would have saved them in gas. Who is going to pay a lawyer thousands of dollars for $10 in damages? So, they just get away with it, its not like they make a fortune selling gasoline anyways, it doesn't make it right though.

 

[HempKat]

Thats called price gouging, the problem is no one is going to sue the private gas station owners for the difference it would have saved them in gas. Who is going to pay a lawyer thousands of dollars for $10 in damages? So, they just get away with it, its not like they make a fortune selling gasoline anyways, it doesn't make it right though.

I don't think what I'm talking about is considered price gouging because it's become accepted practice that the price rises at the pumps quicker then they fall. Price gouging typically occurs when there is a limited supply and the person controlling it takes advantage. Like in the past during hurrican evacuations and gas stations try to raise prices because they know no gas is coming in and people need the gas to get out.

As for the gas station owner you're exactly right there, he/she makes almost nothing off of the sale of gas, most gas stations survive on the sale of cigarettes and convenience items.

 

[Sgt.Stedenko]

Most retail gas stations are happy to get 2-4 cents per gallon profit.
The real profit is in the c-store.