The stock market crashes and for many people, that is bad news.
However, there is a positive of the bad economy is that oil prices are also tanking.
From Fox News: Energy markets extended a steep retreat. Light, sweet crude sank $4.35, or 5.4%, to $76.96 a barrel. Wholesale RBOB gasoline slumped 8 cents, or 3.1%, to $2.61 a gallon.
Read more: http://www.foxbusiness.com/markets/2011/08/08/asian-markets-extend-us-rout-as-traders-flee-equities/#ixzz1UVojUYIU
A couple of weeks ago, oil prices were close to $120 a barrel.
Look for gas prices to be under $3 a gallon soon. This has to drive Obama nuts. He does everything he can to destroy the economy and the one thing he doesn't destroy- gas/oil prices- is something he wants at a high price. Obama is a true believer in green energy and low gas prices is the enemy of the Greenies. The higher price of gas/oil, the more dependence on Green energy. If you have low gas/oil prices, most people will completely disregard the green message and think the green messengers like Obama are just plain nuts.
So, look for lower gas prices and possibly other prices as well and that is a good thing. The lower the oil/gas prices, the better the economy and that is in the best interest of everyone.
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