Citi says oil should be around $70 as demand drops and recession looms

[Saltwater60]

By creating a recession.

Citi says oil should be around $70 as demand drops and recession looms

Citi cut oil demand expectations by 1.4 million barrels for this year as fears of a recession took hold.

markets.businessinsider.com

 

[99cummins]

When prices rise out of reach of people, those people buy less or stop buying all together. I read an article yesterday saying that consumer spending is trending towards only buying the necessities and steering away from luxury items. We are not on a sustainable path.

 

[Blimey]

Oil spikes generally do lead to recession.

This is a global commodity, however. It’s affecting every nation (and inflation in general is rampant throughout the west as well).

Nobody can stop it now. We’re in for a hangover due to decades of profligate debt spending by both parties.

The lunacy of home, car, other pricing increases needs a recession to curtail it.

 

[Saltwater60]

When prices rise out of reach of people, those people buy less or stop buying all together. I read an article yesterday saying that consumer spending is trending towards only buying the necessities and steering away from luxury items. We are not on a sustainable path.

My wife and I make $150,000/year and we’re at that point. I have cut out all fun spending and rarely go out to eat, not getting ice cream cones, only buying things to feed myself, house myself, and keep my vehicles running. We do have an overnight get away coming soon and one in the fall. Food prices are so high we just talked about mixing rice into our meat for Mexican dishes. I’ve never done that in my life.

 

[prambo]

My wife and I make $150,000/year and we’re at that point. I have cut out all fun spending and rarely go out to eat, not getting ice cream cones, only buying things to feed myself, house myself, and keep my vehicles running. We do have an overnight get away coming soon and one in the fall. Food prices are so high we just talked about mixing rice into our meat for Mexican dishes. I’ve never done that in my life.

Luckily we're able to exist - so far - on 2 modest Social Security checks and a small VA disability.

Guess most Deplorables are well on their way to owning nothing and being very unhappy about it - that's where we are.

Luckily, Mrs. prambo still has a number of recipes from her mother - who was a cook in logging camps - like "hamburger soup" and "cowboy bean casserole".

Fuck Klaus Schwab and his Flying Monkeys.

 

[libertysnake]

My wife and I make $150,000/year and we’re at that point. I have cut out all fun spending and rarely go out to eat, not getting ice cream cones, only buying things to feed myself, house myself, and keep my vehicles running. We do have an overnight get away coming soon and one in the fall. Food prices are so high we just talked about mixing rice into our meat for Mexican dishes. I’ve never done that in my life.

Not eating out has resulted in not only me eating healthier, but saving money. You're trading time for health and money. It's a trade I think that is worth making.

 

[C3D]

One Out Of Every Three Americans Who Make Over $250,000 A Year Says They Live Paycheck To Paycheck

 

[99cummins]

Not eating out has resulted in not only me eating healthier, but saving money. You're trading time for health and money. It's a trade I think that is worth making.

We get takeout once a week still. Always somewhere local to us. Usually pizza or a sub or burgers. It’s a little treat for us and helps support a local business at least a little bit. And we usually get multiple meals out of it with leftovers. We eat pretty healthy otherwise and if that one unhealthy meal a week is the thing that takes me out I was probably screwed anyways.

 

[Blimey]

We get takeout once a week still. Always somewhere local to us. Usually pizza or a sub or burgers. It’s a little treat for us and helps support a local business at least a little bit. And we usually get multiple meals out of it with leftovers. We eat pretty healthy otherwise and if that one unhealthy meal a week is the thing that takes me out I was probably screwed anyways.

If there is no friday night pizza...what's the point of any of it?

 

[Acer-m14]

im confused .. what i clicked on was "Joe Biden solves oil price problem" for Title ... and end up here

now its " Citi says oil should be around $70 as demand drops and recession looms"

i was ready for a wesson oil vegi oil joke .. lol

 

[spat]

Oil spikes generally do lead to recession.

This is a global commodity, however. It’s affecting every nation (and inflation in general is rampant throughout the west as well).

Nobody can stop it now. We’re in for a hangover due to decades of profligate debt spending by both parties.

The lunacy of home, car, other pricing increases needs a recession to curtail it.

It's been building for a long time.

But the lockdowns sealed the deal. Just like the lie that it would be only 2 weeks it was an obvious lie that they could just reboot the economy when they were done.

Maybe if they had held to the original promise of 2 weeks we could have kept all the balls in the air for another decade.

But they shutdown the supply side of the economy.

Then the stimulus finished off the economy. I will blame Trump for the first few rounds of that, but the dems had backed him into the corner with the lockdowns, so that made it very difficult for him to say no at that point.

 

[fresch]

Unless he was in on it, President Trump had no idea how corrupt our government is. At every level on every thing.

 

[Saltwater60]

We rarely eat out. I can’t remember the last time we did. Oh wait it was when my son had his surgical procedure, beyond that it’s been a long time. I couldn’t even tell you the restaurant prior to that we ate at.

 

[dwa12479]

Unless he was in on it, President Trump had no idea how corrupt our government is. At every level on every thing.

Only the long time insiders truly know how deep the rabbit hole goes.

 

[Arjuna]

Gas has nearly reached an incredible $10 a gallon

 

[livingston]

Girlfriend and I went to Honeoye Falls and while in town had 2 small ice cream cones .. One dip... $8.50