OT economy check

[jhale]

deepwaters gas prices thread, and some of alrha's ideas led me to wondering how people are doing work wise with the war, gas prices etc.

It's more interesting to hear real info than read in a paper such % of people are doing X.

I work for myself and have not had any lack of work in the past, or now.
I'm in a niche of the market that depends on the economy doing well so people have the income to hire me to increase the value of their home,
or buy a piece of furniture or photograph just because they like it.
I may have a skewed perspective though because I'm going after mainly upper income clients who might not be effected by what's happening i.e, the rich getting richer idea.

I'm just curious how everyone is fairing, I guess though if you have a reef tank then there is a certain amount of disposable income involved. we certainly don't get back the money we pour into our tanks

 

[herman]

I am in the same situation as John. I deal with raw materials for businesses that depend on them to do business so I have not been affected either. Plus I deal globally. Unless Europe, Japan, China and the US goes under (in which case we are all f%$#@d) I will not be affected.

 

[Deanos]

With my work based in the medical field (surgical billing), the economy has had little effect. If people need surgery to survive, it doesn't matter how much money is in their pockets; most have insurance coverage. My job is made more difficult when the insurances fail to uphold their responsibility and force our patients, who themselves may be suffering from a poor economy, to pay out-of-pocket.

 

[jawwad2004]

Well I'm just a college student working as an Internet Researcher at a Law Office, and a lot of the things that are occurring in the world today, haven't really affected me, in a financial sense. For my father who is a branch manager at Verizon, has definitley been affected, by gas prices atleast. He's waiting till gas prices to hit $4 per gallon until he starts taking the train to work, lol. He is going to end up selling his BMW, which means I won't be pimpin' it. . .sigh

 

[alrha]

I manage a Hedge Fund (investing) so my money is made based on how well I can predict the future of the economy, an industry, and a specific company.

in general though, when the economy is firing on all cylinders, it is easier to make money but it is also easier for my competition, so my income is just really based on my competitive advantage, and the demand for that advantage increases as it becomes harder to earn a decent return.

 

[alrha]

He's waiting till gas prices to hit $4 per gallon until he starts taking the train to work, lol. He is going to end up selling his BMW.

as the prices rise, demand will decrease.

 

[marrone]

as the prices rise, demand will decrease.

Only for people that don't need to use their car/truck for work. Those that do will have to either increase prices or bite the bullet and take the hit.

 

[Hitsnorth]

Unemployment is low. Inflation is in check. I dont know what the big deal is about oil if you look at the price we pay compared to the rest of the world you can see that its been artificially low for a very long time. Although an increase in oil prices hurts the economy in the short term maybe its a wakeup call that we shouldnt be so damn dependant on oil in the first place. We think the middle east has an unlimited supply of oil. Do we even know how much oil saudi arabia has? No they will not release that information. How in the world can we be so vulnerable to the price of oil. Hopefully this will increase investment in alternative fuels rather then trying to increase supply of oil.

 

[jhale]

back to gas prices ,

true if I go to fill a van up for delivering my furniture it really does not matter what the price of gas is, I have to buy it or I don't get paid.
I'm much happier if it only cost's $100 to fill the tank vs. $200.

As for driving my personal car (suv) I'm still going to buy the gas, but you can bet my next vehicle is going to be some kind of hybrid.

 

[alrha]

Only for people that don't need to use their car/truck for work.

They are part of the demand.

 

[alrha]

Unemployment is low. Inflation is in check. I dont know what the big deal is about oil if you look at the price we pay compared to the rest of the world you can see that its been artificially low for a very long time. Although an increase in oil prices hurts the economy in the short term maybe its a wakeup call that we shouldnt be so damn dependant on oil in the first place. We think the middle east has an unlimited supply of oil. Do we even know how much oil saudi arabia has? No they will not release that information. How in the world can we be so vulnerable to the price of oil. Hopefully this will increase investment in alternative fuels rather then trying to increase supply of oil.

Right On!

 

[alrha]

but you can bet my next vehicle is going to be some kind of hybrid.

once again decreasing demand.

notice a trend here? all the great ideas are to DECREASE oil consumption.

 

[jhale]

Unemployment is low. Inflation is in check. I dont know what the big deal is about oil if you look at the price we pay compared to the rest of the world you can see that its been artificially low for a very long time. Although an increase in oil prices hurts the economy in the short term maybe its a wakeup call that we shouldnt be so damn dependant on oil in the first place. We think the middle east has an unlimited supply of oil. Do we even know how much oil saudi arabia has? No they will not release that information. How in the world can we be so vulnerable to the price of oil. Hopefully this will increase investment in alternative fuels rather then trying to increase supply of oil.

lol, Bush still wants to drill for oil in alaska.

 

[alrha]

lol, Bush still wants to drill for oil in alaska.

this way we can have our own supply till the alternative sources take over.
and it will also bring the time sooner at which we will not be reliant on foreign sources.

 

[jhale]

personally I'd rather pay for higher fuel prices than have drilling going on in alaska, I'm not a "tree hugger" but it's one of the last pristine wilderness areas left.

 

[cali_reef]

personally I'd rather pay for higher fuel prices than have drilling going on in alaska, I'm not a "tree hugger" but it's one of the last pristine wilderness areas left.

I lived in Anchorage for two years, they can drill another 100 wells and you still can't see the landsacape change. Most are off shore or in the far north, where NO BODY goes to.

Here is an interesting site depicting one individual?s view on the oil situation:
http://www.lifeaftertheoilcrash.net/

I don't believe 100% what he said but some of it sounds pretty true and logical.

Albert, I do agree with your view that the economy will adjust to the oil demand, but the problem right now is the adjustment in my pay check is not as rapid as the gas station is changing their prices . This is causing me to spend less at the LFS(or on-line), hire a good plumber to fix my plumbing, go out to eat, and etc.. This domino effect will trigger down from the middle class to the bottom of the economy population, I think only top few percent of people in this country won?t feel the pressure from the price increase in all domestic goods.

I don?t even want to go into why the US is in the middle east.

 

[ShaunW]

I would have to disagree that inflation is in check. Only the government seems to believe its own BS along with the ulterior motivated economists.

The gas price is the perfect example. Health care is another.

However, wages haven't moved. The economic term is STAGFLATION. History seems to sadly repeat itself, with the parallels to the '70 becoming harder to ignore.

 

[jhale]

I lived in Anchorage for two years, they can drill another 100 wells and you still can't see the landsacape change. Most are off shore or in the far north, where NO BODY goes to.

that's my point, can't we have a few places left in the world that is not f'ed up by our need/want for natural resources.

I'd rather see the money the administration wants to spend drilling for oil to go into funding for alternative energy methods.

 

[cali_reef]

I'd rather see the money the administration wants to spend drilling for oil to go into funding for alternative energy methods.

I'd rather see all the billions of $$ spend on the war to be used for the people in America, including scientific researches. The administration makes money when people drill in the US, heck, every resident in Alaska gets about $1K a year from the state's tax revenue dividend right now.

Oh and I think is too late to try to preserve the few places not yet ruined, we are starting to run out of resources already. The only reason they are not drilling up there is because it is the ultimate strategic oil reserve for the US, I bet everyone will say ?Drill? when the middle east is pumping fume instead of oil in about 40 years.

 

[jhale]

in 40 years it would be really sad if we still depend on oil.

the technology is there it just needs to be developed. imo.