If Fiscal Cliff isnt solved here is the prediction on the fall for WTI
Since i cant put a link up the Fiscal Cliff not being solved would drop WTI 18 percent in a months time, if the Fiscal Cliff isnt resolved in 6 months which is the wrost case senario WTI would drop 38 percent, thats just oil. Now bank stocks drop 25 percent in a month and much more in 6 months, they have the 1 month and 6 month being the wrose case on get the fiscal cliff fix. The S&P could go back to the 9000 range in the wrosr case senario.
Liza, I really dont think you need to explain yourself to a doom and gloom kind of person. Sounds like you are doing well for yourself so I would just stay at that. 300K a year in passive income is probably more than fp7's entire portfolio.
Here's a quote from these so-call experts:
"If you're still operating under the assumption that the earth's petroleum--or at least the cheap stuff--is about to run out, you're not going to thrive in the new oil era. Technology is making it possible to find, produce, and refine oil so efficiently that its supply, at least for practical purposes, is basically unlimited."
When was that quote published?
--Businessweek, December 14, 1998
Price of oil at that time? Around $11.
Pardon me for not putting too much stock in what the media predicts about oil prices.
Looks like they are far more correct then you, look at your OXF, SJT, KMP, BPT and whatever else you have as they are hitting NEW LOWS and last year i told you to sell BPT at a 132.00 a share and you wouldnt and you didnt this year and its at 70.32 a share, yes i know you like the 7.00 dollar a year dividend and your acct double because of the dividends even though the stocks dropped by 50 percent.
If a decision on the fiscal cliff is delayed by one month, the S&P 500 would likely tumble 15% from December levels and shares of banks like Citigroup (C) and Goldman Sachs (GS) could crumble by 25%, APT said.
The numbers are even scarier in the unlikely scenario that Washington fails to reach a deal within six months: U.S. equities would plummet 25% and American financials would plunge a hefty 35%.
To put that into perspective, a 25% selloff from Wednesday’s close would leave the S&P 500 at about 1068 and the Dow Jones Industrial Average back in four-digit territory at just 9934 -- the lowest level since June 2010.
The S&P range was based on worse case senerio which was 6 months to fix the fiscal cliff, i didnt create the numbers but several anaylsts, but i agree we shouldnt see it fall that low, thats putting this country in real danger. Remember i am only repeating what was written.