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Dutch -- The current decline in oil prices predates the drop in the stock markets. The main reason that oil prices have declined is that Saudi Arabia decided that instead of cutting production like they (and OPEC members) have historically done when prices got too low, they did just the opposite...opened up the taps to flood the market with cheap oil, the reason being they were losing market share.
Wall Street Journal, August 24th: Oil’s Drop Puts Spotlight on Saudi Arabia
Of course with the reduction in the rate of growth in Chinese economy, projections on how much oil the Chinese would buy is also a factor. But an important point to understand is that the Chinese economy is still growing but not at the 8 percent per year pace of the past. They are still buying oil, but the rate at which they were buying more and more oil has lessened.
As far as my medicine cost, it would be zero except for my recent illness. And then the cost that I paid for a 10 day supply of antibiotics after getting out of the hospital was about $80. I do not subscribe to the outrageous Medicare Part D premiums. However, I should point out that the high cost of prescription drugs largely predates the Obama administration. This article is a bit dated, but it provides an historical review of how prices started to rise with the Reagan administration policies: The Truth About the Drug Companies. Otherwise my Medicare and Medicare Supplement Plan pretty well covered all my medical costs for a one week hospital stay including major surgery, except for the deductible, which I paid.
I don't understand your comment, "I guess Obama's idea of lowering cost for sick people backfired in a huge way, thanks to the stock market." Maybe you should explain further. I know you want to blame Obama for everything, but this sounds like a bit of a stretch...something that you might hear on Fox News.