Crude prices set yet another record as traders balance weak jobs report with dollar's decline.
http://money.cnn.com/2008/03/07/mark...ion=2008030711

I blame this on Federal Reserve's cutting interest rate 1.25% in such a short period ot time.
It did not ease the subloan crises, it did not help those has trouble paying their mortgage, it certainly did not help our economy. On the contrary, it's like adding insult to injury, foreign investors no longer invest in US currency, the inflation is going to go out of control any minutes, the oil price is still continuing to rise, national debt increase dramatically by day, Baby bloomers trying to survive with fixed income.....

I don't know what our government can do for middle class Americans anymore. Really.

This is to be expected. Hopefully it will push the Government to seriously rethink our commitment to this resource. However that seems very unlikely considering the administration has so much money to make if Oil prices stay high...........

__________________
I'll tell you this no eternal reward will forgive us now for wasting the dawn
Nothing to kill or die for and no religion too
You may bury my body, down by the highway side,
so my old evil spirit can get a Greyhound bus and ride.

That our President and Vice-President are in the oil business?


E.Pluribus Unum

__________________
E.Pluribus Unum

People of power have NO good will and people of good will have NO power.

If you think Education is Expensive try Ignorance.

I blame enviro-wacko libs who prevent oil companies from drilling in the US and exploiting domestic oil.

Even if they could, there would not be enough Oi for our consumption patterns.... I wanna know why we export Oil if it really is such a crisis.....

__________________
I'll tell you this no eternal reward will forgive us now for wasting the dawn
Nothing to kill or die for and no religion too
You may bury my body, down by the highway side,
so my old evil spirit can get a Greyhound bus and ride.

I would think the far lefties and environmentalists would be thrilled. It's the ONLY way people will conserve, carpool, and plan their trips in th car better.

__________________
"This is a time for a national imperative not to fail in Iraq." Condoleeza Rice, January 11, 2007

Today's price of oil is just a little more expensive than it was in the 80's when adjusted:

The price of "V-Power" gasoline at the Shell station around here, just hit $4.04/gal.

Just thought I'd inject that.

__________________
"Masters of War" by Bob Dylan
"When a man assumes public trust, he should consider himself as public property"
-Thomas Jefferson
"I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones."
-Albert Einstein
"One man with courage is a majority"
-Thomas Jefferson

Another example of libs making knee-jerk accusations against Bush - for a problem that has its roots in the extortion of the oil cartel.

__________________
Blade: "more educated and literate people than Justabubba"

Justabubba: "that would include everyone"

http://politicalforum.com/showthread.php?t=27847

Eh your statements are not entirely factual, as it is way to soon to tell how short term interest rate cuts will affect the economy over the next 5 years.

"But Alan Skrainka, chief market strategist with Edward Jones in St. Louis, disagreed with that interpretation. He said Wall Street was cheering the rate cut because it proves the Fed is willing to take any moves necessary to ensure the economy is not derailed by problems in the subprime mortgage market, loans made to consumers with less-than-perfect credit.

"We're having champagne and cookies," Skrainka said. "This is not a magical elixir that solves our subprime problems overnight, but it is a big step in the right direction to keep the economy growing. The Fed is sending a strong message that it won't get behind the curve," he added."

http://money.cnn.com/2007/09/18/news...ates/index.htm

Oil is on the rise because of a) SHARP increase in demand from both China and India, who have the number 1 and 2 population in the world, respectively, and b) because oil is tied to the dollar, so as the dollar falls, oil prices rise. There is speculation that Iran is bribing OPEC members to vote "no" to increase production simply to strain the west, which sounds likely, but again, speculation.

Not investing in the US? There is a ton of foreign investment in the US right now because the dollar is so weak. It's the paying it BACK that's gonna be rough. Whether it's China buying up T-Bills or Abu Dhabi bailing out Citigroup, there is a little TOO much investment going on if you ask me, but only time will tell.

Your tone sounds a little pessimistic and alarmist, this is not the first time the US has hovered over a recession, it's just another cycle of borrowing vs repaying, albeit the deck is a little more stacked against us this time. A pragmatic approach to this would be wise.

__________________
I disapprove of what you say, but I will defend to the death your right to say it.

Those who can make you believe absurdities can make you commit atrocities.

Use, do not abuse; neither abstinence nor excess ever renders man happy.

There are some that only employ words for the purpose of disguising their thoughts.