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Democrat
Colorado Springs, CO
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Democrat
Colorado Springs, CO
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Schmidt Wrote:Yes...markets go up and markets go down...up and down...up and down. As a one time investor who learned the lesson the hard way, I can guarantee to you Dutch that the market will go back up. However, as Jared said, if you need to draw out a bunch of money from the market today, well your timing might be bad. If you can't stand the ups and downs, then you shouldn't be in the market. Yes Schmidt you are right; however it has an enormous influence on a lot of things; don't you think the price of oil will affect all of our lives. As well as our cost of living. Just look at your medicine cost ( if you have any) it escalates per day; the pharmaceuticals make fortunes right now; look at their stocks. I guess Obama's idea of lowering cost for sick people backfired in a huge way, thanks to the stock market.
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Democrat
Colorado Springs, CO
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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.
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Are you sure you want to delete this post?
Schmidt Wrote: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. Schmidt; two things, Oil does affect the stock market as well the 1%; just ask the Koch brothers; they have to sell their other invested stocks to cover their losses via the hedge funds; since they have huge losses, then they dump all their investments in other markets/companies etc. About drug companies, we are able to compare things with Europe. Lately my wife experienced huge amounts in her prescriptions and if I look at the drug companies stocks they have skyrocketed lately; may be a bubble but compared to what we paid a couple of years ago just about double for simple drugs. For instance an acid reflux medicine they were asking $228.- checking Europe it cost there $68.-. Luckily our pharmacist found a generic for $18.- . But I'm convinced that these drug companies are playing games.
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