cynic69

Why Yesterday's Optimism Wasn't Warranted

Gary
I think the Administration is pulling strings to avoid a crash because they know that a market crash would kill their chances of staying in the White House. Why else would all these crazy things be happening? One problem that most of you seem to be forgetting is the high price of energy. No matter what happens to the banks the high price of gasoline is going to scuttle the consumer's ability to fill up the Tahoe and chug on down to the mall to pick up those Victoria's Secrets, flat screen TVs and Cheese Doodles. Since consumer spending constitutes 70% of the GDP I don't think there is any way we can avoid a serious recession. Have you read about the truckers blocking the Parkway to protest he desiel prices? The price of crude is not going to come down because demand is coming from worldwide sources.