Oil Price Creeps Higher:
Speculators and a sinking dollar are pushing the price of crude higher as it sold just pennies short of $80 per barrel today.
Overseas, especially in Asia and India, the economy appears to be on a gradual upswing, causing oil speculators to bid up the price in anticipation of a recovery. Meanwhile the dollar continues to fall in value, which would help with American exports if America produced anything to export.
Currently, the one sector of the American economy that is improving is the financial information group, and they don't loan money to people or small businesses, even though they did benefit heavily from the massive bailout. Thus J. P. Morgan is doing quite well, thank you, but no new jobs are being created.
Speculators and a sinking dollar are pushing the price of crude higher as it sold just pennies short of $80 per barrel today.
Overseas, especially in Asia and India, the economy appears to be on a gradual upswing, causing oil speculators to bid up the price in anticipation of a recovery. Meanwhile the dollar continues to fall in value, which would help with American exports if America produced anything to export.
Currently, the one sector of the American economy that is improving is the financial information group, and they don't loan money to people or small businesses, even though they did benefit heavily from the massive bailout. Thus J. P. Morgan is doing quite well, thank you, but no new jobs are being created.
Labels: The Economy
posted by Jim | 6:06 PM
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