Cog wrote:People forget that a lot of baby boomers have either retired or getting ready to. We aren't employed and don't want to be employed.
Social Security: A Ticking Time Bomb
By Stephen Moore
Social Security now has an unfunded long-term liability of roughly $5.5 trillion-which is larger than the entire national debt. It is said that demographics are destiny, and nowhere is that more true than in this retirement program. In 1950 there were 17 workers for every retired person. Today there are three. By 2030 there will be just two.
Not just the 44 million that are retired. There are 15 million disabled and another 15 million in college or job training and about 13 million providing care for someone at home. Apparently there are now few stay at home spouses other then those giving care.
At any rate few of these people want or can accept a job with their current conditions.
GoghGoner wrote:Well, the OPEC meeting and announcement of cuts did not cause an increase in prices. It does appear that it may have stabilized prices around $51. Stocks at Cushing are increasing rapidly and if OPEC has a export decrease than we should see stocks at Cushing stabilize. I think traders are just watching and waiting right now. Texas rig count has stabilized since June but the rest of the US and Canada is down since then.
China bought a lot of oil in November and their PMI is looking okay. Not really seeing anything in global demand that should cause this price collapse to continue.
onlooker wrote:WTI, down to a little over $47
Cog wrote:That is why people wager. The anticipation of the payoff or the loss.
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