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You could smell this one coming

"People feel like the system is rigged against them. And here is the painful part: They're right. The system is rigged." — Elizabeth Warren

The stock market is sliding, and analysts say it's because of the steady decline in the price of oil.

You would think the oil slide is good news for people like us. We spend less at the gas pump, so we have more money to spend on consumer items. Some of us will use the money to help pay off debt. Some of us will save it. How can any of these things be bad for the economy?

Well, what's good for us isn't good for that great god The Market, as this story from today's New York Times explains: (Oil slick)

The upshot is that falling oil prices, believe it or not, are not necessarily a good thing. Those of us who have invested for retirement, or to pay for our kids' college educations, or to accrue the money needed to secure a better future in any respect, may save at the gas pump—but we'll get hosed by The Market.

One way or another, the 99 percent always take it on the chin.


( 2 comments — Leave a comment )
Jan. 7th, 2015 01:04 am (UTC)
Have you noticed the ads for the BIG GAS GUZZLERS ARE BACK!
Jan. 7th, 2015 01:24 am (UTC)
Short memories soon lead to empty wallets.
( 2 comments — Leave a comment )

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