Economic Upswing? Ask Again in a Year

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Last thing we need is an 'upswing'.
Let it tank, so that things re adjust . LESS development is a good thing.

rob of CA 3:31PM July 08, 2009

Oil prices will continue to drop because this is an election year. Other reasons include the bankrupcy of SemiGroup and legislation to curb speculation. There has also been some movement on a new Drill Bill by president Bush and although this will not hav any immediate effect it will send a message to OPEC and the world that the US is moving towards a more self sufficient stance in energy management. As a side note, civil charges were laid by CFTC against a Dutch firm for manipulation OIL futures contracts in the commodities market. This will also send a message that the CFTC is serious about cracking down on questionable activities of unscrupulous traders. Oil will drop to about $80 a barrel by December 2008 and will continue to drop until it levels off at about $60 a barrel early next year. G.B.

TM of CO 10:01PM July 24, 2008

"Americans are assuming all the responsiblity and getting none of the benefits of this global economy." I could not agree more.
US trade representatives proudly announce that American trade is at all time highs - but all the benefits of that are going to a small group of billionaires. The middle class has actually lost ground over the last decade. I remember in the 80's CEO's saying that workers can have wage increases if they increase productivity. Well, productivity increased, but the CEO's kept all the profits. They undermine our labor market with outsourcing and promotion of illegal immigration. Americans who have jobs are working record long hours and are too terrified of losing their jobs to ask for a raise.
Its game over for this farce. You can fool some of the people, some of the time. You can fool all of the people some of the time, but you can't fool all of the people, all of the time.

Tom of IL 11:39PM July 23, 2008

I can do without new cars, appliances, communications and entertainment, hair cuts, manicures, vacations, discretionary purchases of every kind. I can't do without fuel, food and health care; they are necessities NOT luxuries, and the fact that economists have been touting the "good news" for the past few years while consumers wonder if they're living on another planet, doesn't bode well for the economy. The equity in my house is irrelevant to milions of people like me who try to live responsibly, within our means, and don't consider our house collateral but a home. It's the people who think it's a liquid asset who are in trouble right now, yet you continue to think we should get back into that same shell game that's collapsing around us. Ah, well, we're just small thinkers, but then again the government won't be coming around to bail us out like the millionaires in Bear, Fannie, Freddie, et al. Major tax increases are now local so the Federal Government can enjoy running on "no tax increases", but people who've lost their jobs are responsible for school and local taxes no matter what their situation. From health care, pensions, insurance premiums, all offering a pittance compared to what they did 20 years ago whle their costs skyrocket, to the ubiquitous taxes that are stuck on every phone and electric, water and gas bill, Americans are assuming all the responsiblity and getting none of the benefits of this global economy. That Wall Street was awash in money and is now sticking us with their bill is just the icing on the cake. We can't even count on a job anymore as they're continually being outsourced. This is the first time in my 59 years that every indicator has conspired to show me how much worse off I am than I was in the 1960's. It's not just the politicians that are clueless.

AnneMaire of PA 7:21PM July 23, 2008