Thought
Are we going to get excited when the Dow breaks 9,000?
posted by mikevotes at
10:50 AM
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This is not the America I was brought up to believe in. This blog seeks to highlight abuse of power, deception, corruption, and just plain bad ideas in government and corporations. Updated several times a day.
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8 Comments:
I'll be excited when my 401(k) breaks 9,000!
(only slightly exaggerating)
By
-epm, at 10:53 AM
I know. Everybody's there.
But, frankly, knowing I'm not alone isn't making me feel one bit better.
By
mikevotes, at 10:56 AM
In the Des Moines area gas is down to $1.47
That's just 6 cents higher than when Bush came into office.
With COLA over 7 years how can it be that low now?
Not that I don't appreciate it but wth?
By
matt, at 1:02 PM
The problem with gasoline prices is not that they are now low, but that they're volatile... subject to whiplash inducing swings. This is something Obama talked about, and got some flack for, on the campaign trial. That is, the economic problem for Americans wasn't necessarily that gasoline was $4.00/ gallon, but that it doubled in price -- to lifestyle-altering levels -- within a couple of months, and that there was total insecurity on where the prices might go.
By
-epm, at 1:14 PM
Matt, just like when oil was $145/barrel, it's a little artificially low right now because of fears over the economy. That's the nature of the newer speculator heavy market. The money has flowed out of oil futures.
Also, I would guess the incoming Obama administration is perceived to be far more stabilizing than the Bush administration who was threatening Iran, coming near blows with Russia, etc, etc.
Plus, a slightly stronger dollar is having a little play in there.
...
As EPM points out, oil price is not a really good absolute measure of anything.
By
mikevotes, at 1:26 PM
War with Iran and what it would do to the Gulf was a big part of the price run-up. There seems to be less chance of that now.
By
Anonymous, at 2:18 PM
'zactly.
And the growing hostility with Russia was an issue as well.
By
mikevotes, at 2:41 PM
Netanyahu is still talking it up but it seems like nobody is listening.
By
Anonymous, at 4:41 PM
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