oil prices will keep on plunging — perhaps all the way to $75 a barrel, which is the profitable break-even point for lifting the extra barrel of oil.
His prediction?
That would drive the Dow to somewhere between 15,000 and 16,000, and it would have a huge tax-cut effect on the economy. And, of course, it could completely change the November election outlook in a highly favorable way for the GOP.
The price of oil today: approximately $39 a barrel. The Dow: 7,114.78. Massive, throbbing fail.
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