When it went from $4.00 to $3.50 to $2.50 and below no one really recognized those prices.So then when the brilliant economists said Were all going to take our savings and were all going to go out and spend it there was nothing to spend because they never saw it in the first place Flaster said.Literally no one ever saw it in cash dollars.
Now weve had 3-4 months go by of retail sales and spending and we see that nobody spent it.
Even worse because of the concern that lower gas prices will damage overall economic activity and future economic job security were finding that people are now becoming savers and the national savings rate has gone up off the charts up just like that.
The energy situation in the world right now is both a supply problem and a demand problem at the same time" Sandler ONeill Partners Marc Flastertells Insiders Jim Cardle.
The conflicts that were occurring in the Middle East and the like seemed to supply what one might call a war premium on the price of oil. But at the same time a little thing was going on here in Texas that nobody was giving much attention to and of course Texas has realized this was a big big boom to the growth of State both population-wise and business-wise" Flaster says of the explosive growth in oil & gas exploration.
The (oil & Gas) industry in Texas employs about 125000 people directly. And those who say they know say theres about 2.3 people indirectly related to that 125000 so there is collateral damage and they will and are having to adjust themselves predicted Flaster about the a potential impact on the Texas economy.
Wall Street Analyst & Texas Banking Industry Advisor Marc Flaster knows what hes talking about … and whats driving the Texas & U.S. economies both economically and politically.
Texas Insider Report: AUSTIN Texas No one knows the price of gasoline at the pump because its all paid for with the credit card. While it was all over the news everywhere that gas had dropped to $2.00 or $1.99 it was still on the credit card. And when the bill came it was just more data next to the cell phone the Netflix and everything else and no one ever really saw real savings because it wasnt in the cash bin" Sandler ONeills Marc Flaster tells Insiders Jim Cardle.
tells Insiders Jim Cardle.
The conflicts that were occurring in the Middle East and the like seemed to supply what one might call a war premium on the price of oil. But at the same time a little thing was going on here in Texas that nobody was giving much attention to and of course Texas has realized this was a big big boom to the growth of State both population-wise and business-wise" Flaster says of the explosive growth in oil & gas exploration.
The (oil & Gas) industry in Texas employs about 125000 people directly. And those who say they know say theres about 2.3 people indirectly related to that 125000 so there is collateral damage and they will and are having to adjust themselves predicted Flaster about the a potential impact on the Texas economy.
Wall Street Analyst & Texas Banking Industry Advisor Marc Flaster knows what hes talking about … and whats driving the Texas & U.S. economies both economically and politically.
