>>>All in all, if lower pump prices hold, the consumer will be back in force by Xmas.<<<
Cornbread, Cornbread, Cornbread. You know I love you man. I think about you everytime I drive on the SureKill Expressway by the Girard Street exit near the zoo and I look up and see your name on the concrete retaining wall.
But don't be a stooooooooopid dork.
Barack, Nancy, and Harry have already sharpened thir knives and are going after the oil cmpanies. I mean....like....if messing with Social Security was reaching for the third rail, gasoline taxes are the next best thing. But they are doing it. I think I shall have to email them the number for the suicide prevention hotline.
Now we have all of this global warming nonsense. But it looks like we will have this lunatic cap and trade carbon tax. The CEO of Duke Energy says that that will boost electricity prices 40% in Ohio and Indiana. I am sure you know how strong elployment is in those two states with the robust auto and auto parts industries. BTW: Those in the know realize that the power behind cap and trade lies in Nancy, Barbara, and Diane. California is already so green that they will be getting credits to sell to Ohio, and Indiana. Nothing but a big transfer tax to the West Coast.
Remember how FDR killed the economic recovery in '38 or so by trying to balance the budget by raising taxes....after all of those years of stimulus and WPA, etc. With one hand Congress is giving away money, and with the other they are taking it away. Except they are taking it away before we have even hit bottom. Sounds like one big clusterf*&k to me. Poor Adam Smith's invisible hand will have absolutely no price signals to follow for three years.
Gasoline consumption is back up. But the production projects are waaaaaaaaaaayy down - and the reduced tax credits in the GOM aren't helping one bit. Clowngress is making us more dependent than ever on foreign crude. That spring will snap back real hard, real soon.
Jim Rogers keeps telling the unemployed investment bankers to drive their Maseratis out to idaho to become farmers. When you think about it, that is about all that the US has left to exports. Potatoes. Oh. And Treasury bills, notes and bonds. But, nobody will want any of them after June or thereabouts.
We might get a bounce here. Then another grinding down leg. Every other day, CR posts that graph of the four Big Bears. I look at that and my eyes glaze over.
Got food??? K-Rations and the like?? Botteled water?? A few extra rounds?? Kevlar vests???? |
