LanceOregon
Moderator
My goodness, the Dow Jones almost lost 400 points today. We also learned today that unemployment had its biggest increase in 22 years last month.
A barrel of oil jumped $10 in price just today alone! Apparently an Israeli government statement that war with Iran was inevitable sent jitters into the market. My local gas station has raised its prices 5 times in the last week!!! Gas is nationally well over $4.00 a gallon, and it is now being predicted that it will hit $5.00 a gallon by the 4th of July!!
Prius automobiles have totally disappeared from Toyota dealers, despite the fact that Toyota doubled their production of the car a year and a half ago. Buyers are now being told they will have to wait months for one, or pay as much as $5,000 over list price.
On top of all of that, it was also reported today that a whopping 9 per cent of home mortgages in the nation are in serious trouble, and either already in foreclosure, or delinquent and risking foreclosure. These are all record setting numbers too.
Yet, there are prominent people still claiming that our economy is not in a recession. And our Congress still cannot come up with any comprehensive energy plan either.
Am I being too pessimistic here??
http://money.cnn.com/2008/06/06/markets/markets_newyork/index.htm
http://afp.google.com/article/ALeqM5j4d9FmxF40RCW29DA98__mpbIgWw
http://money.cnn.com/2008/06/06/news/economy/gas_prices/?postversion=2008060621
http://www.startribune.com/business/19474989.html
http://www.washingtonpost.com/wp-dyn/content/article/2008/06/05/AR2008060501501.html
.
A barrel of oil jumped $10 in price just today alone! Apparently an Israeli government statement that war with Iran was inevitable sent jitters into the market. My local gas station has raised its prices 5 times in the last week!!! Gas is nationally well over $4.00 a gallon, and it is now being predicted that it will hit $5.00 a gallon by the 4th of July!!
Prius automobiles have totally disappeared from Toyota dealers, despite the fact that Toyota doubled their production of the car a year and a half ago. Buyers are now being told they will have to wait months for one, or pay as much as $5,000 over list price.
On top of all of that, it was also reported today that a whopping 9 per cent of home mortgages in the nation are in serious trouble, and either already in foreclosure, or delinquent and risking foreclosure. These are all record setting numbers too.
Yet, there are prominent people still claiming that our economy is not in a recession. And our Congress still cannot come up with any comprehensive energy plan either.
Am I being too pessimistic here??
http://money.cnn.com/2008/06/06/markets/markets_newyork/index.htm
http://afp.google.com/article/ALeqM5j4d9FmxF40RCW29DA98__mpbIgWw
http://money.cnn.com/2008/06/06/news/economy/gas_prices/?postversion=2008060621
http://www.startribune.com/business/19474989.html
http://www.washingtonpost.com/wp-dyn/content/article/2008/06/05/AR2008060501501.html
.