Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (98422)	6/9/2009 7:34:08 AM
From: Dan3	Read Replies (1) of 116555

Best way to suffocate an economy? Raise energy prices.... Gas prices have risen 41 days in a row, to a national average of almost $2.62 a gallon. That is a sharp increase from the low of $1.62 a gallon that prevailed at the end of last year.... ...The national jump in prices, far larger than the normal seasonal increase, is pulling billions of dollars from the pockets of drivers. It threatens to curtail a modest recovery in consumer spending on items like apparel and electronics. After increasing 62 percent since December, the price of gasoline is actually lagging behind the increase in the price of oil, which has doubled in the same period, to more than $68 in recent days. Analysts say the increase is being driven by investor expectations of an economic recovery, the recent fall of the dollar against other currencies and, to a lesser extent, the success of oil-exporting countries in curtailing supplies. There's more at: nytimes.com

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