Oil Hits Record At $139.12/Barrel
A: Remember that Naked Gun scene where Leslie Nielson says, "...Alright, Move On, Nothing To See Here, Please Disperse! Nothing To See Here...!". Does anyone else get this feeling? HOLY S%#T!! But don't worry, inflation is expected to moderate as the economy slows, so please, move on, there is nothing to see here!
WATCH ON YOUTUBE
Posted by October
Fri Jun 6th, 2008 05:02 PM
WOW! Today really hurt - while I'm stil feeling good about holding my job, it's not as good as it was six months ago - and I'm holding onto my money just in case. I think that light at the end of the tunnel is a train!
Posted by Noah
Fri Jun 6th, 2008 05:20 PM
October - I hear you. Hopefully all will be well through this cycle for you and many others out there! This is one side effect of policy to save the credit markets, wall st, and the economy that we will have to deal with. The fed made it clear that growth is #1 at the expense of inflation/price stability, a while ago.
Posted by Jose
Fri Jun 6th, 2008 05:55 PM
Thought I would provide you with a link (if you haven't already seen it):
http://georgewashington2.blogspot.com/2008/06/derivatives-market-is-unwinding.html
"This is one side effect of policy to save the credit markets, wall st, and the economy that we will have to deal with."
Should read: This is one side effect of policy to save bankers and financiers that we have to deal with.
Posted by Noah
Fri Jun 6th, 2008 05:58 PM
Jose - did you read my piece on this topic April 6th, referring to an article that discussed the topic that I thoroughly enjoyed:
CDS & Bear Stearns
http://www.urbandigs.com/2008/04/derivatives_tail_wagging_the_f.html
Posted by Jose
Fri Jun 6th, 2008 09:45 PM
Yes, though only had the time to skim then. An enlightening article you link to in that post.
Personally, I just don't see how any of this cannibalistic shark-feeding is at all healthy.
These guys are out of control.
Posted by Portland Agent
Tue Jun 10th, 2008 02:15 AM
LOL. That scene is a great analogy for the inflation story that is being played out at the moment.
Posted by Vancouver realtor
Thu Jun 12th, 2008 04:49 PM
Oh common, why being so negative? US are still the richest country in the world. And about petrol prices - take a look around, in Europe gallon is for about $8 and they are still living and driving :)
Jay