Drillbits & Bottlerockets Message Board

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Strategies & Market Trends : Drillbits & Bottlerockets

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To: Rich1 who wrote (4225)	2/22/2001 3:41:27 PM
From: Junkyardawg	Read Replies (2) of 15481

This market will never recover until Oil prices come down. OPEC is about to cause a world wide recession if the haven't alredy. Oil is the basic reason why the market has crashed. The one thing I never understood was Greenspan kept raising rates because he said high oil prices was inflationary. Never ever understood that and never will. Higher oil not only cost the people more but ever single business is effected by high oil prices. This of course effects earnings. When earnings are effected people get laid off and businesses production drops because of fewer labor. Fewer labor means fewer people to buy goods so businesses make fewer products. All the while we are paying about 30% to 70% higher energy cost. Its a never ending cycle until OPEC wakes up. dawg

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