Friday, June 05, 2009

Here we go again...

We'll be welcoming in hyper-inflation when 2010 begins.  Via Ace:

... crude oil rose to a seven-month high [$70/barrel] after Goldman Sachs said prices may reach $85 by the end of the year as demand recovers and supplies shrink.

Gas in SoCal is already pushing close to $3/gallon.  If Goldman Sachs is right in their prediction, the economy is going to get much worse before it gets better.  Stocks may rebound a bit because of the jobs cuts, cost-cutting, and products/services price increases to try to offset various expenses (including fuel/transportation costs).  But when prices get too high, stag-flation sets in.  The public then CAN'T buy things because of the higher prices and lack of necessary income.  I said it before, and I'll say it again.  Jimmy Carter 2.0.


Dim Bulb said...

But...but...I thought the evil, money-grabbing Texas oil tycoons were out of the White House. (Gasp!) Don't tell me that it was all a lie concocted by our honest, upstanding, non-political media.

Dim Bulb said...

You've been presented with an award y me. You do not have to fulfill the obligations in order to claim it.

Dim Bulb said...

sorry, wrong link.

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