I wonder if the oil companies and refiners will forsake massive profit
opportunities to ease the shock of the price increases.
I am also thinking that oil shortages will happen, much like the 70s.
I also think that the Katrina disaster will push a fragile economy into
recession. After all, our 'great' economy has been built on ever increasing
levels of debt with people spending far beyond their incomes and this debt has
been bought by foreign nations, especially China, to encourage our spending
frenzy.
I also think that China and the EU should start worrying as American debt has
kept those economies afloat.
I also wonder why Bush didn't fly back to Washington sooner but continued
giving BS speeches and vacationing as the greatest American tragedy unfolded.
Why hasn't he given a televised speech (no matter how short) discussing this
tragedy and showing those living in the devastated areas that the 'USA' is on
the case giving them some hope, any hope. There are a lot of people who are
furious about this - livid also comes to mind.
Mike
PS - Now you didn't think I changed my rebel-rouser ways did you? This was the
'Perfect Storm' for the economy. My mom called me Mr. Doom & Gloom when I
first told her the above yesterday morning, but today numerous analysts and
pundits have concurred with my observations.
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