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In your opinion, what would a harsh winter do to the people of this nation and the economy?

The reason why I ask, there was a news report this morning - its going to cost about $2,500 to heat every house that uses heating oil this winter. $2,500 X every house that uses heating oil, that is a lot of money being pulled out of the local economy and going to the oil companies.

Here we are in early October and the cool fronts are already starting to roll in. It was in the 50s this morning in east texas. Also, the news reported that electrical disconnects are up almost 20% since all this problem with the banks started.
 

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DIY RPG's
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out here in west iowa and eastern nebraska it will be brutal people are turnning a blind eye to the whole cost of heating thru the winter they just wannna say everything is gonna be fine i can see more people freezing to death this year but it won't just be the homeless this time i think there will be a few who have homes but can't heat them that will just get really sleepy one night and never wake again
 

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Personally here I heat with wood exclusively heat isn't an issue if you don't mind a little work. I think many will feel the bite of winter if job losses become really significant and many will burn there furniture in the floor if it gets real bad.
We think here it will be a cold wet winter with alot of ice and snow were in southern Missouri but the farhter North the worse it will be and the Northern Plains thats rough in a good year..............
 

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I think a harsh winter in the current economy would be a serious problem. People will do less traveling around the holidays in an effort to save money for heating their homes, but they will also do less Christmas shopping, which means less Christmas jobs for people who need the work, which would mean even less money going back into the economy.

I think it would also cause more problems about nine months later due to people huddling up to stay warm at night and not being able to afford the small bundle of joy that comes along. Which would then be paid for by the government and passed off on tax payers who can't afford the extra burdens already.
 

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If consumer demand for oil continues down, then that may mitigate some of the cost of heating oil. Less consumer spending and less travel equals more petroleum available for heating oil.
 

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The Northeast is getting nervous. Here it is going to cost at least $3000 to heat this winter. People are holding off turning on the heat for as long as possible. I have heard some people aiming for Thanksgiving before they turn it on. We have young kids so are heat is already on as we have been dropping into the 30s at night already. They are predicting an unusually cold winter here which will only compound the issue. People are going to be freezing to death in their homes left and right here this winter. It;s going to be really bad. I am looking into making solar heat collectors to generate some free heat for our house and are leaving the thermostat set at 65f.

I think this will cause major impacts in the Northeast. No one will be spending as they will need large amounts of cash just for the heat. It will not be a happy winter. :(
 

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I know a few people who refuse to turn their heat on until after 11/1/08. They are also committed to not turning the thermostat above 60 degrees.
 

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true chris but with the cost everything else going up i think that will be off set due to inflation
IF the cost of everything goes up. There's lots of forces that go into price increases. Inflation, higher demand, shortages in factors of production, demand for competitive goods, etc. If consumers are spending less on non-essentials, that can push prices down. If the FED can't create new money, then inflation slows dramatically.

Slowing demand has cut the price of a barrel of oil to ~$90. I don't know what's going to happen tomorrow, but all the forces that affect price aren't towards an increase.
 

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Man! I've been pondering this subject for a while now. I watched Kev's youtube video he did on stockpiling wood- and the folks up in New England area that have to use oil. I'm unsure how that works- could someone from up northeast explain this to me (and anyone else who has no clue)?

Is it pumped into your house from an outside tank? You get the tank filled up before winter hits? Curious. Thanks.
 

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My son and I each dress warmly and keep our houses right at 60 degrees, and turn it town when we're away (just not enough to let things freeze)... I'm selling my place to double up with him for a couple of years; save us both some money. We use natural gas here but the prices have been going up every couple of months for the past year, and another 22% due in January...thank goodness for Gov Palin's energy checks this year! We are still laying in the firewood but already have snow on the ground...looks like it'll be a cold one.
 

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Man! I've been pondering this subject for a while now. I watched Kev's youtube video he did on stockpiling wood- and the folks up in New England area that have to use oil. I'm unsure how that works- could someone from up northeast explain this to me (and anyone else who has no clue)?

Is it pumped into your house from an outside tank? You get the tank filled up before winter hits? Curious. Thanks.
We have different scenarios here. Most urban areas here use natural gas which is piped in directly to the house. Then their are the propane people who have bottles outside their home which are delivered but the majority (like myself) use oil. Most around here have 225 gallon tanks usually in the basement that are filled by oil companies periodically throughout the winter. My house in the dead of winter is usually filled about every three weeks. They will not deliver to you unless you are all paid up though. Being New England a good deal of homes have fireplaces and the wood piles I have seen around here are getting quite sizable. Unfortunately we don't have a fireplace and I was pushing for a woodstove but my hubby kinda shot me down until oil prices hit $5 gallon!!
 

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I'd get a woodburning stove and camp out right next to it until spring! For heaven's sake that's a lot of moolah for warmth. I don't suppose you close off a portion of your home until spring so you don't have to heat it.

You're welcome to spend the winter here in the desert with us!:D: We just open up the windows and let the cool breeze blow through!
 

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IF the cost of everything goes up. There's lots of forces that go into price increases. Inflation, higher demand, shortages in factors of production, demand for competitive goods, etc. If consumers are spending less on non-essentials, that can push prices down. If the FED can't create new money, then inflation slows dramatically.

Slowing demand has cut the price of a barrel of oil to ~$90. I don't know what's going to happen tomorrow, but all the forces that affect price aren't towards an increase.
By November the Fed will be printing truckloads of money just to keep the market afloat. They don't give a crap about "main street' or "the people", they're just trying to save themselves at this point. Inflation will come, nothing will stop it now. I have seen items at the store already increase by a dollar, not because of a shortage of the item, but inflation.
 

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Blankets, lots and lots of blankets, and maybe one of the little electric heaters, and be stict on turning heat way down when we are not home. We are going to try to watch how much heat we use more then in the past.
 

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By November the Fed will be printing truckloads of money just to keep the market afloat. They don't give a crap about "main street' or "the people", they're just trying to save themselves at this point.
The FEED doesn't print, but I see where you're going. The problem is there are limitations on how much the FED can inflate. Those are how they inject the money into the system.

My statement is that with a contracting economy they're limited on how much they can inject. Lowering rates usually works, because people rush out and run up debt, which creates more money. How much new debt will be created in the next year vs the last year? How much Treasury debt can they get China, Japan, etc to buy?

Inflation will come, nothing will stop it now. I have seen items at the store already increase by a dollar, not because of a shortage of the item, but inflation.
I agree, wholeheartedly. I'm simply saying that I don't think the FED can inflate to the level it was before. Real CPI went down considerably after the 2001 recession. With a prolonged recession I think is inevitable, the FED can't inflate the way it has the past 6 years.
 

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Man! I've been pondering this subject for a while now. I watched Kev's youtube video he did on stockpiling wood- and the folks up in New England area that have to use oil. I'm unsure how that works- could someone from up northeast explain this to me (and anyone else who has no clue)?

Is it pumped into your house from an outside tank? You get the tank filled up before winter hits? Curious. Thanks.
We lived in a house in the country that had a large heating oil tank on the yard. The tank was filled before winter and it generally lasted till spring if it was a cold winter and you needed a refill because the ground is frozen the truck could reach the tank across the yard we just had to hop on the tractor and clear the snow. In town the truck used a hose to reach the tank in case of the need to refill during winter. Our winter stretched from November through to May and some times you needed a refill.
 

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We got our first snow 5 days ago. This is early, even for Alaska.
And yes thanks for the $1200 energy money from the state, that was $2400 for Ma and me. That should get us through the winter if we behave ourselves.
Been here a long time, have never seen snow this early. Have a gut feeling it's going to be a long cold winter.
.............................................Alaskan..........
 

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Unfortunately I think we will see people paying the heating bills and using the CC's and the lines of credits to make it through and savings.

During the 90's a had a friends parents blow through their savings CC's retirement funds and his college fund to pay the bills after they both lost their jobs. They didn't go out any more. They cut back on everything but it took them almost a year to locate anything and it was a minimum wage job for both of them. They were able to save their house and cars after a bailout from the grandparents. Who gave them there inheritance early and they came from money.

If we get two back to back cold winters people are going to fail in the second one and some will fail in the first. Your going to see people losing their houses and going into bankruptcy trying to pay their bills.:(
 
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