CNBC is driving me crazy

10 comments

• shadowcat

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  8 years ago

  I thought it was the price of tea in China.
• rockstar666

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  8 years ago

  Every business uses energy in some way, so cheap energy is good for our economy. The point the bears are making is that cheap oil is a reflection of poor business activity. What they're not taking in to account is that it's increased supply, NOT decreased demand that's causing oil prices to fall. I think the falling markets are an excellent buy opportunity.
• Estafador

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  8 years ago

  the mining one is true.
• shailynn

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  8 years ago

  ^^* yeah because all the tree huggers think windmills are going to produce enough energy that we don't need mining. Yeah right - try to light your house with windmills. Over a decade ago I worked for an energy company. There was an electoral crisis out west and several California cities were experiencing brown outs. All these energy companies raced out to upgrade power plants and build new ones. The company I worked for bought 2 and decided to build another one. Oops!!!! 2 years later everybody and their brother had the same idea and now there was too much energy on the market. The company I worked for nearly went bankrupt. Their stock was around 40 at the time and dropped down to 5. The same thing happened with oil. It was expensive so a lot of people started looking for it - and found it, in shale and at those prices they could extract it and still make money. That, sanctions lifted in Iran and now we are bathing in oil. Oil glut.
• Mate27

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  8 years ago

  Biggest mistake an investor can make is paying attention to a news network like CNBC. They are journalists trained to push the buttons of viewers to keep them watching so they can sell advertising to corporate America. They're not even financial experts, mostly people with a title. Look at a headline to day that read "Shades of 2007" as a comment from Bill Gross. When you dive into the article all it was was his statement saying that central bank policies haven't done anything to create growth. It is clear that the headline was fear mongering for viewers to click on the article to see if the market is behaving like the past, so investors will be scared enough to look at this piece of shit. There wasn't any useful information but CNBC scared you into thinking that there might be some information given to get you out of the market. I got about $25-$30k I will be placing in the market over the next 6-8 months and I hope stock prices keep falling.
• rockstar666

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  8 years ago

  shailynn: If you worked for Enron, you're hardly even scratching the surface of what happened there with energy and the brownouts. That was just ONE thing they engineered. I worked for a company that traded with Enron, and it was almost surreal dealing with them. Their trading model was a sham to cover up the REAL business: robbing money.
• Clubber

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  8 years ago

  Estafador, [view link] That isn't oil!
• Estafador

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  8 years ago

  @shailynn I was actually quoting a line from Family Guy, but I don't think it translated well...if at all.
• san_jose_guy

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  8 years ago

  Bring it on baby! The sooner these bubbles all burst, the sooner sanity and happiness will come. So each day that I hear it is caving in, I am ecstatic. Just don't walk under high rises. I wish there would never be another bubble again. But I know that people have not changed, and so once the next President is sworn in, no matter who he or she is, another one will start. Some speculators will have leapt to their death, but tragically not all of them. SJG
• shailynn

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  8 years ago

  Rockstar - no I worked for a very very small company. They thought they were going to make a bunch of money and got fucked, had no idea of the shit the "big" companies like Enron were pulling. Sadly, I see the same thing with oil. All these guys took these jobs and started making stupid money (at least for what they were used to). I also know a ton of lawyers who did just oil/gas contracts who now are sitting with no work. Almost all of the oil guys are laid off now. I do feel sorry for them, but at the same time their arrogance when they were making money is now laughable. You want to say "hey bud, you really didn't think that was gonna last forever did you?"