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Interesting comment from today's Money Daily Report:
http://www.money.com/
Call me superstitious, but I knew it wasn't going to be good day, when I read
that some bureaucrat (O.k. so it was the chairman of the President's Council of
Economic Advisers) was quoted saying that the U.S. economic expansion can
"continue indefinitely." That is the kind of statement that goes on to mark
pivotal moments in history. As in, "We knew we were close to the end of the
longest economic expansion in history when this bone head said it could go on
indefinitely."
Call me superstitious, again, but just as "Mr.
Economic-expansion-can-continue-indefinitely" uttered his fateful words, the
price for a barrel of crude oil flirted with $30, its highest since our
skirmish with Iraq in 1991. It probably won't last, though, because OPEC
countries will certainly break down and flood the market with oil to cash in on
the high prices. In fact, just as the $30 flickered across the screen, Venezuela
was asking its oil-cartel cronies to raise the self-imposed production limits.
And just as quickly, the price for a barrel of oil fell below $30. Still, with
oil at these levels, how long can we dodge inflation?
---
JW
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