General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOil Prices & Investments: Remember the Ads Five Months Ago to Invest in the Oil Industry?
About five months ago, there were a deluge of radio and web ads to invest in the oil industry.
These ads were looking for people to invest a minimum of $40,000 in the stake of oil companies.
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Since when does a profitable industry look to small-time private investors to join in on its windfalls?
This seems to be akin to the local gym running memberships at discount prices right before they are sold or go out of business.
I have the sneaky feeling, the slump in oil was anticipated by the oil industry and they were looking to profit from investor greed. While the Saudis are being blamed for driving these prices low, the industry appears to have been on the verge of collapse anyway--just requiring a simple act to cause it to collapse. The Saudis are getting the blame, but I feel there is a wider systemic problem in that industry that no one is mentioning, since they are transfixed on the single Saudi element.
Cosmic Kitten
(3,498 posts)It just shocks the conscience to think
the the worlds largest casino would
exploit peoples greed!!!
BTW, Were you around in say... 2000 or 2007?
I think we've seen this show before?
JaneyVee
(19,877 posts)Ads everywhere, Glenn Beck and FOX News personally endorsed it. Remember the scare tactics and oncoming doom of the Obama economy? But they were slinging gold when price was high, notice not so much anymore, which means you took a big loss depending on how much invested.
The gold coin fear mongering was the worst: "SEND US ALL OF YOUR SOON TO BE WORTHLESS CASH BECAUSE OF OBAMA AND WE'LL SEND YOU THESE GOLD COINS WORTH ONLY 1/4 OF WHAT YOU SENT US!".
They sure know their audience.
safeinOhio
(32,714 posts)of oil was based on speculation for some time. If you never have looked at history you wouldn't have thought about bubbles.
Making money is about looking at the markets as bi-polar. When there is mania going on you sell to them. When there is depression in the market you buy from them. Most people get caught up with the highs and buy at the top. When the bottom falls out they get scared and sell. Happens every time.