Will 2018 see the oil price marching back into 60's and 70's and 80's and even triple digits? Will the happy times roll again in the land of the chevroids? Or is this a slow and quiet withering of a once almighty industry into the annals of the "been great once"?
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-7jna: Facts are "a bit distorted" when they are used out of context. The truth is that income becomes a less relative metric when considering real monitory gains for the wealthiest, because it reflects mostly just those assets that they liquidated in a given year and even then have many hidden components (you spend your income on a gulf trip, whereas Trump goes on the same trip to inspect the golf course for his business...not to pick on the pres.). More to the point, to me at least, is that most of the gains in the economy in the last decade went to the 1 percent (95% by some estimates), whereas the 99% have seen very moodiest gains in their income. This was the appeal of the Republicans proposed "tax cut for the middle class" (the rich were already doing quite well by historical standards). What they ended up proposing was a tax cut for the 1%, with the same tired old agreement that this was really "for the middle class" because the tax savings would trickle down from the job providers to the great unwashed (where have I heard that one before?). I am all for tax cuts for everyone (more chicken in every pot!), but not if it is paid for by increasing the national debt....they are not proposing any spending cuts!....which to me should come before any tax cuts! The sorry fact is only 40% of the federal budget is discretionary (unless one cuts social security, Medicare, VA benefits...we cannot cut interest payments on our debt). Of the remaining, more than half goes to the military and homeland security .... which leaves 18% for all the rest that the government does. Folks like to point out little expenses they thick should be cut (e.g., Planned Parenthood, NPR, food stamps) ... but at the end of the day these little bits do not change the basic equation one way or the other. Give a tax break to one group and it needs to come from another (present or future) tax payer. So do not talk to me about tax cuts until the budget is balanced....one way or the other!
Whatever the total amount of taxes the top 1% or 5% pays to the Treasury, whether it’s 50 or 75%, the fact is, they remain the super wealthy in this country. To me, there’s something very wrong about the tax structure in this country. In my view, everyone should be paying nearly the same percentage into the Treasury. Charge a flat tax of 10 or 12% and that truly would be fair.
I’ll never understand why Republicans are so eager to hand over all their money to the super rich.
I think your figures are a bit distorted.... from the feds: ”In 2011, the top 1 percent earned 14.6 percent of income and paid 25.4 percent of federal income taxes.” Why is even this misleading.... because the normal wage earner reports most all their total gains as income in a given year (except that they can shield in home equity or retirement funds), whereas the one percent can sheld the majority of their gains from being counted as income in a given year. Just as importantly most of their gains are considered “Capital gains”, taxed at a much lower rate. Finally the one present tend to use proportionally more government services... just one example ... the CEO of Walmart has thousands of trucks doing long haul on our roads whereas I take the bus to work... who should pay the higher infrastructure tax? But reality aside, 7wwn, why are you so buttsort about the “unfortunate” one precenters. I do not for a minute believe that you are one, but for some reason you carry their water....WTF is that about? My advice to you...grow up snf start whipping you out sorry has!
The proposed GOP tax bill won’t get passed because it’s destined to fail by design. The rich will be making out extra well if it’s passed, the middle class will get a very modest tax savings, and taxpayers earning $25000 will pay a little more than they are paying now. The Republicans are hard selling the fact that the Standard Deduction will be doubled, but don’t advertise the Personal Exemption will be eliminated and the lowest 10% margin will become 12%. One can easily figure the poorer Americans who don’t have a 401k or any savings, will end up paying more Federal income taxes under this GOP farce of a tax plan. The middle class earning $75000 will see a modest drop in their taxes, but the people earning $125000 and up will get the best treatment. The millionaires will be dancing in the streets when the Estate Tax is eliminated. This GOP Tax Plan is a total con job for most Americans. The mid term elections in November 2018 is going to reverse the tables in Congress. Many House Republicans are already throwing in the towel, saying they won’t run for re-election. The Senate will fare no better. It’s very possible the Democrats will be running things in Congress at the end of next year. Trump will become a lame one-term President and the country will languish for his last 2 years. He will need to resort to the phone and pen to write Executive Orders like Obama did. Partisan politics has polarized and and stagnated this country. The US is likely in the beginning of a long decline. God help us.
Senate tax bill won't get voted for by the narcissistic, selfish "live only for themselves" and the "keep the poor hardcore base electorate poor" democrats for fear of them losing their cushy tax-payer financed positions, therefore, your post is irrelevant. How convenient and obvious.
@ons
Cool story bro
Senate tax bill doesn’t lower corporate taxes until 2019 (after the mid-term elections). How convenient or obvious. Their plan doesn’t line up sufficiently with the House tax bill. Again, how convenient or obvious. They’re holding everything and everyone in suspense. Once more, how convenient or obvious. What really makes you believe that we have the wind at our back and the future looks bright? Get ready for a serious correction to this “irrational exuberance” starting in early January.
The market is booming, the republicans have the whole government, there’s winds of a big tax cut in the air, and your feeling like the price oil might just be about to break out of stagnation from over supply back to the promise land of three figures. Sorry to be a kill Joy, but the markets in an irrational late cycle meltup that commonly proceeds a crash, the republican tax cut will melt away as the reality sets in they are back to trying to sell trickle down snake oil (there are no cuts for the middle class), and the price of oil will revisit $35 before summer. Mark my words.
We are making a comeback. What goes around comes around! Enjoy!
Why don’t you just leave this board -4eik? Looks like you come looking here for something then trashing everyone for their comments. A little troll you are.
4snt You're not saying anything....
My point is; you're a fool if you take investment advice from a layoff board. Grasp what I'm saying?
Sarcasm seems to be your way of dismissing things, 4rqa. Almost akin to the ostrich burying his head in the sand. Grasp what I’m saying?
All of the greatest most successful investors come here to the layoff boards to impart their secrets of getting rich!
Go ahead and take the ‘buy and hold’ route, -4oks. For the unsophisticated or inexperienced investor, I would impart the same advice too. The seasoned investor would disagree that is the best strategy to make money. One needs to relatively “time” the markets to come out ahead over time. YMMV, as you put it.
All that being said, I most likely have many more years in it than most, particularly on this site. I have never met an investor, trader, or other who's chant "buy low, sell high" (such as the previous poster) was what he/she ended up actually doing when put to the task, and most were invariably much less successful than the buy and hold investors. Experience proves it. Buy that lottery ticket. YMMV.
Buying low and selling high is all about trying to time the market. That’s how money is made each day in the investment markets. It’s all about timing. Not predicting the exactly moment something will happen but anticipating signals that announce a likely change. Much like a surfer floating on his board just offshore waiting for that certain wave to begin paddling his board toward the beach and by experience and good gut feeling, happens to catch that great wave. Investing is sort of like that. It takes learning and patience, but there are signals or patterns that help you time your opportunity to catch a good wave.
Futures up. Apparently no one on this forum can predict the future. Imagine that. LOL.
That 16 months turned into more like 16 hours.
Never assume that you can time the market, kids. That includes equities as well as commodities.
Youngsters are still making that mistake with investments these days after all that we have (supposedly) learned.
Not that I have confidence in crude futures today, just an example for the lesson.
Oil will slowly work back to $60 but it will take 16 months to happen.
1dex, When you grow a brain and realize that you cannot time the market, don't come back. Just stay in whatever hole your pathetic uneducated self recently crawled out of.
We don't need to read ignorant comments like yours.
-1mzx, Smartazz. When you hit rock bottom, please try to have a smartazz comeback.
scs, Not you guessing, just someone else guessing. Brilliant!
I met a time traveler once, but it never occurred to me to ask him about futures trading. Maybe that was a missed opportunity on my part.
If you can predict oil futures simply by looking at current trends, you should be making millions using your new psychic abilities, not here trolling layoff forums....
short answer: Nobody knows, until you find a real psychic or time traveler, nobody will know.
Oil prices to trade in a $40 to $60 band for at least 10 more years. Not me guessing, but said by more than one serious investment bank in the last couple of weeks. Do your research.
Yes. It's turning around. Simply look at the charts. That doesn't mean it will not correct again.