Wednesday, November 10, 2010

QE - A Bailout For Big Oil

That chart isn't up-to-date.

At the moment, the oil retrace is back near $90 a barrel.

The economy has handled oil that expensive before.

It's just that last time it was there, PEOPLE HAD JOBS and BONUSES so they could potentially afford the higher prices at the pump, their property values weren't as far underwater, and savers were earning more than 60 basis points on their cash.

Tonight I paid $3.20 a gallon on Long Island for regular, self-serve.

Unless quantitative easing currency debasement is ended as the official national economic recovery plan....I expect to see $5 gasoline within 2 years time.

Maybe I will get that Hyundai Sonata after all!

No comments: