Bailout Fails, Oil Prices Tumble

 The bailout failed and the stock market tumbled as a result. But the stock market wasn’t the only thing to tumble when the news broke that the bailout fell through. The price of oil tumbled $10 a barrel because of the fears of a downturn in the economy.

Oil prices tumbled more than $10 a barrel Monday, dropping back below $100 as a U.S. financial bailout failed to win legislative approval, raising fears of a prolonged economic downturn that could drastically erode global energy demand.

  Just last week oil shot up $16 a barrel which just seemed to coincide with the notion that the government (you and I) was going to bailout Wall Street.

 So while we are hearing that Wall street must be bailed out or else there will be catastrophic results felt on Main Street, the first results are in and I think they are pretty positive. Nobody can tell us what the results will be if we don’t pass a bailout bill. And nobody can tell us what we will actually pay in the end if we do bailout Wall Street. But what we do know right now is that we may pay less for oil if we don’t bail them out.

 Just another reason to say to hell with Wall Street. They got themselves into it, they can get themselves out of it.