what are your predictions for the US economy given what happened today ?
Auction
Light, sweet crude for October delivery jumped as much as US$25.45 to $130 a barrel on the New York Mercantile Exchange before falling back to settle at $120.92, up $16.37 at the close. The contract expired at the end of the day, adding to the volatility as traders rushed to cover their contract positions.
Investors fear that the government will have to dramatically ramp up borrowing to pay for the mammoth rescue effort, an inflationary move that could further devalue the dollar and trigger another wave of safe-haven buying in investments like commodities.
“They’re going to have to continue auctioning off a whole lot of Treasurys to finance these projects, so the dollar is going to suffer,” said Matt Zeman, head trader at LaSalle Futures in Chicago. “Right now it’s fear and anxiety driving people who want tangible assets.”
http://ca.news.finance.yahoo.com/s/22092008/2/biz-finance-oil-spikes-25-barrel-anxiety-u-s-bailout.html
Answers see additional comments below.
It’s part of a normal downward fluctuation that all healthy markets go thru every now and again
Lets just say that the GOP has been successful in “killing the beast.” Sadly, they took Wall Street along with it.
we’re doomed.
Its just like deja vu all over again.
This is a repeat of the 80′s trickle down reaganomics.
The rich get richer and everyone else get screwed.
But we republicans call good old capitolism.
When will you people learn, if you keep putting the same people in office,
you keep getting the same results.
But your too stupid to notice….Suckers!
Depends who wins in Nov. If the GOP wins, they’ll just keep draining the country dry. There’s not that much left.
{It’s part of a normal downward fluctuation that all healthy markets go thru every now and again.}
It will work itself out like the last healthy downward fluctuation in 1929.
Stormy seas ahead. Keep your life vest on.The crew (congress) is not getting along well with the captain (Bush).
Platinum, gold, and silver, my friend, platinum, gold, and silver until it all settles down. Our financial instability hasn’t even hit the bottom yet, particularly if you’re perusing the foreign markets: China, Japan, Australia, etc.
An unmitigated disaster and even worse if McSAME and Palin are elected. Obama and a strong Democratic Congress may ameliorate it some.