Going through some of the early Thursday headlines regarding the economy, we see that unemployment is deepening and it would be hard to imagine the situation improving anytime soon. Eventually some daylight will appear, so hang in there.
The price of oil has dipped below $50 per barrel. This is shocking. We are going from inflation to deflation within a few weeks.
We know we are in "the" rough economic period. We don't expect anything from the present administration, nor do we want anything from the present administration because they are not equipped to handle the problem. One suspects that Bush is overwhelmed with inaction and malaise. His descent is consistent with his governance.
As an observer of the stock market, I would say one of the strangest sights I have seen today is GM stock hovering around $2 per share. Its not looking good for the big three especially GM. They could crash anytime now. Why would anyone want to buy a GM car right now unless the price becomes so reduced as to make the deal impossible to refuse.
Breitbart.com: New York crude prices sink below $50 line for 1st time in 22 months
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3 comments:
The roller coaster ride continues. For anyone trying to live off the private economy it's scary times. For those with cozy Gov't jobs God Bless u and keep on spending because soon you'll be all we have at this rate. Then of course the rest of us won't be able to support all of u anymore and you'll find yourselves in the water with all of us. You see were all on the same boat and if we all fail so do u folks. You can kiss your jobs, benefits and med. care good-bye when we can't pay them anymore. Such is reality ...As an example of a failed State read about the sad history of the late great Soviet Union.
This is cruel and inhuman treatment of the humans.
Bush has gone into hiding. Nobody is steering the ship. We've got a few more months of this idiot and he's got nothing. And we are trained to somehow understand that he's got nothing and to accept that.
It's horrifying. A modern State like ours was needs a competent team at the helm 24/7. What we have is no one at the helm. The crew has abandoned ship with all the loot and set the ship adrift.
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