Tuesday, December 16, 2014
How the CNN fear-mongers are trying to scare-off Americans
For many Americans, cheap gas is a godsend during the holidays. But it also has a dark side.
Markets have taken a nasty turn in recent days as investors grow anxious that the tumbling oil prices will spillover to the broader global economy.
CNNMoney's Fear and Greed Index is in "extreme fear" mode. Just a week ago, it was in "neutral."
Oil's slide has been relentless, having tanked another 3% Tuesday to below $55, a level not seen in five years when the economy was in dire straits.
True, slumping oil means a break at the pump, which most economists say is equivalent to a mega tax cut or stimulus program. But there is a tipping point when oil gets too low.
Eventually, the benefits start to get outweighed by the costs.
Some investors and economists are asking: Are we at that crisis point yet?
JG: FUCK YOU CNN! SCREW EXXON AND CHEVRON!