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What does it mean bigger picture for the economy? i think the big story on the economy of 2015 was these dramatically lower gasoline prices. a little over a year ago we were all paying almost twice what we were paying at the gas pump. in chicago we are paying 1.89 a gallon and fought so long ago it was $4.00 a gallon. i call that a real stimulus to the economy. if you pay less at the gasoline pump you use more of that to go out to a restaurant or more retail shopping for christmas and so on. and this is the big story not only because it is really good for the industry and by the way the reason this is happening, abby, is america s shell oil gas boom is leading the world. within the next four or five years the united states of america would be energy independent so this is a big news story and just the ....
That. largely that s because all these players in the oil market around the world don t want to give up their slice. they don t want to cut production, but at this point, honestly, we re awash in oil so it is now a choice. if you look at how this is affecting consumers it s been a boon. looking at prices at the out. , pump, most people paying around $2 or even less than that. so we re in the holiday season,รณ that could actually translate to more paid 1.89 in oxford a couple weeks ago. now there s a matter of raising interest rates. has wall street already baked that other into the cake. economists are looking for a quarter percent potential raise. people say that doesn t matter to me. but essentially if you have borrowed money at any time in the past ten years, this does apply to you. so student loans, car loans, home loans. if you have a fixed rate ....
Kelly paid $1.89 for five plums. about how many plums would she get for $10. well that involves a little bit of estimation and multiplication. it s certainly not a high school level. but, you know, pretty standard and straightforward. but it shouldn t be something that you have to answer a question like that to graduate from high school. people at home are education experts like you and don t have the models and results to show instinctively say in at-risk communities these kids have had it hard enough, so why not make it a little bit easier to be successful in society by giving them that diploma, and not having that be an albatross on their shoulders? we don t want diplomas to be something that is a worthless piece of paper. you ve got to establish standards, make sure we ve got a rigorous kiiric lump and make sure the teachers are prepared. but don t lower the standards and start handing out diplomas. right. the response when you demand more is? the rezpons when you demand ....
Oil producers. gas is now at $1.89 in oklahoma. 13 states report gas prices below $2 per gallon. that s less than 60 cents a liter, which is just incredible. the economy is reeling from the energy prices and now appears to be crashing, the russian ruble plunged monday and has now lost nearly 50% against the u.s. dollar this year. russia s central bank hiked a key interest rate. it was huge. from 10.5% to 17%. the central bank has pumped $90 billion to try to stabilize the economy. it could hit 10% by year s end. if oil prices remain near $60 per barrel, russia could be heading towards a very deep recession next year. ....
Why do the markets keep falling? reporter: it s all about oil, jake. plunging oil prices taking a toll on investors today yet again. oil falling almost 4%, settling below 58 a barrel. the international energy agency saying global demand for oil is going to fall next year as supply is growing. what s rattling wall street is the question of what s really behind this drop in oil prices? the concern is because economies in europe and asia are slowing down. and you look at the plunge in oil over the past six months. it s happened really fast making investors very nervous. if you drive, you love the lower gas prices. in oklahoma city, you can fill up for $1.89 a gallon. that s just one city across the country that s enjoying these lower gas prices. it s like a tax cut putting an ....