Gold, Silver, and Oil prices are crashing today.... and I love it!

[Freeper]

scheming daemons Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu May-05-11 03:48 PM
Original message
Gold, Silver, and Oil prices are crashing today.... and I love it!
   

1. The big run up on Gold and Silver the past several months has been the "fear" trade pushed by the likes of Glenn Beck ad nauseum. That was a bubble just waiting to be popped and it will disproportionately hurt the teabaggers who bought into the fear that was being sold in Beck-istan.

2. Oil prices dropping means that gas prices will drop in a week or so.... taking one of the GOP's main anti-Obama talking points off the table .... and... making life a little less scary for the poor and middle class this summer.



But really... seeing all the teabaggers panicking right now and trying to unload their gold and silver while they can is hilarious.


It will drag the overall market down a little bit, but it will strengthen the dollar and that will be worth it.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1044978

Yay bust out the champagne bottles.

Talk about some wishful thinking. I bet you in 2 weeks time this DUmmy will be proven wrong.
Gas prices will be up again, and Gold will go through the roof. Not that I want any of that to happen of course, I just realize what a mess everything is now.

LynneSin Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu May-05-11 03:50 PM
Response to Original message
1. You know the gas prices are now the new right-wing MEME
   
No more questioning about Osama Bin Laden or the Birth Certificate.

Hell, we have a budget surplus here in Delaware and the idiots are ragging about the gas prices.

So was gas prices in 2008, a left wing meme?

Warren DeMontague Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu May-05-11 04:22 PM
Response to Reply #22
31. No, see, Gold prices are HIGH because of "manufactured panic"
   
It's called a BUBBLE, and it's gonna burst.

If you have a vested interest in doomsday peddling, find another line of work. If you're heavily invested in gold, now might be a good tine to sell.



Just a little friendly advice to you all. :hi:

Manufactured panic? My God what world does this moron live in?
The economy is in the shitter, the Govt keeps spending money we don't have, the dollar is getting weaker, yet it's all just a manufactured panic by the right wing. 

Warren DeMontague Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu May-05-11 04:26 PM
Response to Original message
34. Good economic news, Obama's numbers are up, OBL is dead.
   
....Small subset of DU wails like an injured marmot.

We shall see by Nov of 2012.

girl gone mad (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu May-05-11 06:33 PM
Response to Reply #34
55. The economic news has been horrible, and that's why everyone's running to the other side..
   
of the trade.

Today we learned that unemployment is spiking and growth slowed pretty dramatically. People can't afford the high prices in commodities and oil. Now traders will move on to the next scheme.

How this gets interpreted as good news is beyond me. We are still facing a government hell bent on austerity and deficit reduction, an ongoing housing collapse and a massive crisis in jobs.

I wish our govt was hell bent on austerity and deficit reduction.

tridim Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Thu May-05-11 06:47 PM
Response to Reply #57
58. Have you been to the grocery store lately?
   
I'm talking about real shit that is dragging down our economy, right now, not a bubble burst that happened in 2007. Sure it is still affecting things, but the recovery was showing real improvement (see the bikini graph) until the oil companies decided to steal ALL of our money.

If you only knew how little money the evil oil companies actually make per gallon of gas. The Govt makes more than the people who made the financial risks to produce that product.

[thundley4]

Hell, we have a budget surplus here in Delaware and the idiots are ragging about the gas prices.

Budget surpluses mean taxes are too high.

[SSG Snuggle Bunny]

Budget surpluses mean taxes are too high.

No. Government services are too low. </liberal>

[JohnnyReb]

If you only knew how little money the evil oil companies actually make per gallon of gas. The Govt makes more than the people who made the financial risks to produce that product.

I can't get anyone to believe that....it's always the evil oil companies robbing them.

[GOBUCKS]

No. Government services are too low.

No, government salaries, benefits, and headcounts are too low.

[DumbAss Tanker]

Personally I would love to see silver prices crash, I use it as a material and the numbnuts herd-mentality metal investors have driven it to completely impossible prices.  However, the last thing I'd ever do was take a DUmmie's advice about the economy seriously.

Precious metal investors, here's a free clue:  If things are going to get as bad as you all think, gold and silver won't do you a damned bit of good, you need to be investing in brass and cupronickel-jacketed lead.

[BlueStateSaint]

Precious metal investors, here's a free clue:  If things are going to get as bad as you all think, gold and silver won't do you a damned bit of good, you need to be investing in brass and cupronickel-jacketed lead.

'Course, the steel required to actually launch that brass and cupronickel-jacketed lead is a good investment, too.

[DumbAss Tanker]

'Course, the steel required to actually launch that brass and cupronickel-jacketed lead is a good investment, too.

I sort of look at that part as a capital issue, rather than a commodity one.

 

[Evil_Conservative]

Did gold drop by $5 recently?  Is this why DU is saying 'haha'??  I don't get it.  I haven't read any national news this evening yet, so I am unaware of oil prices taking a "tumble".

[Chris_]

Oil is down from $110 to $100.

Woo.

[Evil_Conservative]

Oil is down from $110 to $100.

Woo.

Impressive.  That must mean gas will be free soon. 

[USA4ME]

Gold down 1.88% today.
Silver down 11.0%
Oil down 0.13%.

This primitive is in for a rude awakening,  Mention this to him in a week or so and he'll have some lame excuse as to how his brilliant economic forecast was sabatoged by the Republicans.

.

[NHSparky]

Personally I would love to see silver prices crash, I use it as a material and the numbnuts herd-mentality metal investors have driven it to completely impossible prices.  However, the last thing I'd ever do was take a DUmmie's advice about the economy seriously.

Precious metal investors, here's a free clue:  If things are going to get as bad as you all think, gold and silver won't do you a damned bit of good, you need to be investing in brass and cupronickel-jacketed lead.

Amen, DAT.  Someone comes up to me while I'm raising vegetables, etc., and he wants to trade me gold for them, guess what?

You can't eat gold.

[tanstaafl]

Personally I would love to see silver prices crash, I use it as a material and the numbnuts herd-mentality metal investors have driven it to completely impossible prices.  However, the last thing I'd ever do was take a DUmmie's advice about the economy seriously.

Precious metal investors, here's a free clue:  If things are going to get as bad as you all think, gold and silver won't do you a damned bit of good, you need to be investing in brass and cupronickel-jacketed lead.

When asked why I'm not in Gold or silver, I respond that if I have enough "brass", I'll be able to take all of your gold and silver. Plus I'll get to eat meat pretty much on a regular basis.