... 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.
4 comments:
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.
You've been presented with an award y me. You do not have to fulfill the obligations in order to claim it.
http://cantuar.blogspot.com/
OOps!
sorry, wrong link.
http://thedivinelamp.wordpress.com/2009/06/27/im-so-worthy/
Hello Dear
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