Opec members seek emergency meeting

Almost half the members of cartel have in the past few days called on the group to act to halt the slide before their next official meeting scheduled to take place in Algeria in late December.

Iran, Libya, Nigeria, Iraq, Venezuela and Ecuador, whose economies tend to be most dependent on high oil prices and whose ministers are among the most hawkish of the 13-member group, have all lobbied for the cartel to drop output...

Oil prices on Wednesday resumed their slide towards $85 a barrel, a level last reached in December last year.

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Actually, now I'm reminded of the words of one of my friend. He said that one thing to watch for is the sharply falling oil prices as signal for depression. He said... if you see oil falling... go out and buy some food and gold... it's going to be a long and expensive winter. We'll see if he is right.

The credible sources forecast gold to double in price within 6 months.

Didn't Chicken Little say the sky is falling?

Is that your generic answer to anyone showing any concern? Besides, food and gold are great investment opportunities in times of economic unrest. This crisis is far from over. Buying commercial paper is risky under the circumstances.


http://www.businessandmedia.org/articles/2008/20080930154555.aspx

If the market stays down this low, I am going to double the amount I am going to buy this month.

You're right. It's a great time to buy. The stocks are ridiculously low.

Do you think the market will resurface or do you think this is so grave it won't recuperate?? (Question aimed at anyone on the forum or everyone.)

My crystal ball is not working right now. It is a guess and a gamble either way.

Unless Christ returns in the very near future, I am quite positive the market will return. I feel so strongly about that that I am continuing to put my money in the market. Remember, the market survived the Great Depression.

The world has never face anything like this before. And no one knows what to do about it. All their remedies are not working. My crystal ball is working just fine, and I predict that IF the market recovers, it will be at least 3 years away, and it will get much, much worse before it gets better.