Today's Economic News

[HHSDad]

Unemployment Jumped from 5.0% to 5.5% in May

 

Oil Briefly Tops $139 Before Settling At a Record Close of $138.54

 

Dow Plunges 395 Points

 

The Dollar Was Off 1% Against The Euro

 

Just makes you glad to be alive doesn't it.

[nWo]

Gas prices have actually dropped a bit here in Richmond. I filled my car up for $3.79 a gallon.

[halfback20]

They dropped for a day or two but I believe they are back up in Richmond now to $3.99. If not they will be by this weekend. At the Athens exit in Lexington gas is back up to $3.99.

[UKPat02]

The oil bubble can't be far off from bursting...

[mcpapa]

Just an anecdote - I was talking with someone today who says that the "old-timers" in her family are saying that we've blasted right through a recession and are headed for a monumental depression. You have to take that with a grain of salt, just old folks at home shooting the bull, but could they be right? I'm not an economist, so I'd probably miss the warning signs. However, I'd think that unemployment jumping by ten pecent, precipitous drops in the stock market, etc. might be harbingers of things to come.

[nWo]

They dropped for a day or two but I believe they are back up in Richmond now to $3.99. If not they will be by this weekend. At the Athens exit in Lexington gas is back up to $3.99.

I filled my car up this morning at the Exxon/Arby's at exit 90 for the price I mentioned. The price must have went up after I got my gas.

[John Anthony]

Fella's oil closed this afternoon, we won't feel the effects at the gas pump until Monday morning.

 

It is absolutely ridiculous the speculators are able to get it up 11 dollars in ONE day. Most of it was cited because Morgan Stanley or whoever are predicting 150 dollar oil, so the speculators ran with it. One person, one analyst with oil connections, can drive oil up all by himself. T Boone Pickens did it last week agreeing with 150 dollar oil and it went up 2.50 that day.

 

The govt must chop the legs off the bulls and pouring money into commoditys or this recession will never end. We will not pull out of it until gas is around 2.50. People, simply can't afford to spend money here and there cause its going to the pump and the very essentials at home.

 

Clearly today shows the govt they must step in and make investors put more down than 2-3 % on an oil contract, unless we want this recession to carry on for years.

 

I have heard for months people saying the market will correct itself... well, I have heard that for almost 6 months now and oil keeps going up, up and up. It will continue to go up until someone fights back, people are profiting off Americans suffering.

[HHSDad]

I filled my car up this morning at the Exxon/Arby's at exit 90 for the price I mentioned. The price must have went up after I got my gas.

I heard the news on my way to work this morning and made a beeline to the gas station. By the time I got off work, gas prices had jumped 17 cents. My wife is telling me to expect another jump tomorrow.

[True blue (and gold)]

How do those that work at gas stations do it now? I worked at a Shell station when I was in college. I can't remember the price hardly ever changing, but when it did, it made the nightly paperwork tedious. If it is changing so frequently, this has to be a nightmare for them in that regard.

[madman]

Fella's oil closed this afternoon, we won't feel the effects at the gas pump until Monday morning.

 

It is absolutely ridiculous the speculators are able to get it up 11 dollars in ONE day. Most of it was cited because Morgan Stanley or whoever are predicting 150 dollar oil, so the speculators ran with it. One person, one analyst with oil connections, can drive oil up all by himself. T Boone Pickens did it last week agreeing with 150 dollar oil and it went up 2.50 that day.

 

The govt must chop the legs off the bulls and pouring money into commoditys or this recession will never end. We will not pull out of it until gas is around 2.50. People, simply can't afford to spend money here and there cause its going to the pump and the very essentials at home.

 

Clearly today shows the govt they must step in and make investors put more down than 2-3 % on an oil contract, unless we want this recession to carry on for years.

 

I have heard for months people saying the market will correct itself... well, I have heard that for almost 6 months now and oil keeps going up, up and up. It will continue to go up until someone fights back, people are profiting off Americans suffering.

 

George W. is a lame duck and he's not going to do anything. Hasn't done anything to prevent this when he could have and should have and he sure won't do anything now. Leave this mess for the next President.

[cch5432]

 

I have heard for months people saying the market will correct itself... well, I have heard that for almost 6 months now and oil keeps going up, up and up. It will continue to go up until someone fights back, people are profiting off Americans suffering.

Market can't correct itself with limitations on it. It is not a free market.

 

George W. is a lame duck and he's not going to do anything. Hasn't done anything to prevent this when he could have and should have and he sure won't do anything now. Leave this mess for the next President.

First of all, you tell me exactly what he could have and should have done.

 

Second of all, tell me where in the constitution he is granted those privileges.

[John Anthony]

Market can't correct itself with limitations on it. It is not a free market.

 

 

First of all, you tell me exactly what he could have and should have done.

 

Second of all, tell me where in the constitution he is granted those privileges.

 

The market cannot correct itself with how things are going right now. Everytime gas rises .25 cents thats another month long of the recession. Gas is the KEY element causing this recession. Something has to be done and will be done at the end of the year. We are so focused on war, war, war, instead of economy, economy, economy.

 

I have heard rumors Obama might cap gas around 2-2.50 like all the middle eastern countries, China, and India. If he does this you can guarantee him 8 years in Washington. I much rather them do this and me take home half of what I do at the end of the year, or even a third. The goal is to make it thru the year.

[UKPat02]

The market cannot correct itself with how things are going right now. Everytime gas rises .25 cents thats another month long of the recession. Gas is the KEY element causing this recession. Something has to be done and will be done at the end of the year. We are so focused on war, war, war, instead of economy, economy, economy.

 

I have heard rumors Obama might cap gas around 2-2.50 like all the middle eastern countries, China, and India. If he does this you can guarantee him 8 years in Washington. I much rather them do this and me take home half of what I do at the end of the year, or even a third.

 

Is it? Or is it the product of the recession?

[Guest Bluto]

Clearly today shows the govt they must step in and make investors put more down than 2-3 % on an oil contract, unless we want this recession to carry on for years.

 

Bingo. Yahtzee. We have a winner.

[madman]

Market can't correct itself with limitations on it. It is not a free market.

 

 

First of all, you tell me exactly what he could have and should have done.

 

Second of all, tell me where in the constitution he is granted those privileges.

 

Obviously, what he's done hasn't worked. Look at our country today compared to eight years ago. Are we better? NO! Not even close. He is the leader of our country and we have been led down the wrong path.