Originally posted by panhandlehunter
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Originally posted by ElCid07 View PostSooo is there anyone hiring in the industry right now? I am getting back from a deployment and looking for work. Guess I timed it wrong from the sounds of it, haha.
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Originally posted by deer farmer View PostYou must not have any family or friends, or own any property. It will effect the majority of the people in Texas, Okla, and Louisiana along with several other states. And when you are looking for employees in the future are you going to pay a livable wage?
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Originally posted by Hardware View PostI know you think we are just giving our own opinions but as you stated above history doesn't lie!!! My comment was only pertaining to the Texas economy and not the whole USA.
I lived through the 80's in Houston working as a Banker and can give you first hand accounts of how it effected Texas. People were walking away from homes because they owed more than the home was worth. People were on the street corners in suites begging for jobs. Several banks fell during this period, real estate markets collapsed, and construction came to an abrupt stop.
I hope I never see the downturn we had in the 80's again but with the idiots we have running this country it's probability is high!!!!
If you look at the charts below you will see that when oil(in RED) rises to highs a recession/adjustment(GRAY) was soon to follow. Not the other way around. I will say it again. I don't want the bottom to fall out of oil. Nothing good comes from that. I have been stating that a drop in prices is not as bad as many have made it out to be. If the bottom does fall out there will be many that over extended themselves and will fall on hard times. That sucks. The current drop is personally costing me a decent amount on one side and saving me a little on the other. Fortunately I don't have to count on either of those to survive so is it bearable at the moment. All I was trying to do is give a more realist view of the landscape and not a sky is falling and Texas will become Detroit.
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Originally posted by deer farmer View PostYou must not have any family or friends, or own any property. It will effect the majority of the people in Texas, Okla, and Louisiana along with several other states. And when you are looking for employees in the future are you going to pay a livable wage?
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Not much research needed to know that if you stop such a big flow of money (salaries and in-turn money spent by those earning the salaries) not to mention all of the money spent by those companies on goods and services to operate it is going to hurt a lot. Prayers up that this is just a temporary slow down and not the start of a shutdown.Last edited by Pedernal; 12-03-2014, 11:38 AM.
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This was posted on another site.......
Here is a graphic that shows what these governments need oil to be priced at to make their budgets work. The notion that Crude oil could fall all the way to ~$45 is not going to make the Saudis very popular.
Because the Ruble has fallen 30% and other similar situations around the world, I'd say the chance of another "world war" just went up about 100%. There is some desperation out there........
Venezuela ~ $125.00pbl
Russia ~ $105.00pbl
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Originally posted by deer farmer View PostSorry, but was not trying to be a jerk ! I am saying if a bust was to come it would effect most everyone unless u work for the government. Not much effects them. If they lose sales tax they just raise taxes somewhere else.
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Originally posted by Take Dead Aim View PostCrash in the 80's was Savings and Loans. Thank Carter for deregulating the S&L. Yes the oil market went with it but it was not a cause of the economy falling. When the economy goes South oil follows. That is the missing link everyone has trouble seeing. There has never been a US economic crash caused by oil prices dropping. Does it hurt specific areas sure. Will towns go by the waste-side again like they do every other time the price of oil has dropped to lows. Sure. They existence is based solely on a commodity and a highly volatile one at that.
If you look at the charts below you will see that when oil(in RED) rises to highs a recession/adjustment(GRAY) was soon to follow. Not the other way around. I will say it again. I don't want the bottom to fall out of oil. Nothing good comes from that. I have been stating that a drop in prices is not as bad as many have made it out to be. If the bottom does fall out there will be many that over extended themselves and will fall on hard times. That sucks. The current drop is personally costing me a decent amount on one side and saving me a little on the other. Fortunately I don't have to count on either of those to survive so is it bearable at the moment. All I was trying to do is give a more realist view of the landscape and not a sky is falling and Texas will become Detroit.
OK I give up oil has absolutely nothing to do with an economic downturn!!!!!
Just like fuel cost and food has nothing to do with inflation since the government doesn't include these figures when reporting inflation!!
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Originally posted by Hardware View PostOK I give up oil has absolutely nothing to do with an economic downturn!!!!!
Just like fuel cost and food has nothing to do with inflation since the government doesn't include these figures when reporting inflation!!
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