$100 a barrel oil
WOW...! only 1 1/2 days into the new year... THAT sure didn't take long...
on another, not-unrelated subject, i wonder when we're going to see bank defaults...?
it's always darkest before the dawn...
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Oil prices soared to $100 a barrel Wednesday for the first time ever, reaching that milestone amid an unshakeable view that global demand for oil and petroleum products will continue to outstrip supplies.
on another, not-unrelated subject, i wonder when we're going to see bank defaults...?
Superpower America is a ship of fools in denial of their plight. While offshoring kills American economic prospects, “free market economists” sing its praises. While war imposes enormous costs on a bankrupt country, neoconservatives call for more war, and Republicans and Democrats appropriate war funds which can only be obtained by borrowing abroad.
By focusing America on war in the Middle East, the purpose of which is to guarantee Israel’s territorial expansion, the executive and legislative branches, along with the media, have let slip the last opportunities the US had to put its financial house in order. We have arrived at the point where it is no longer bold to say that nothing now can be done. Unless the rest of the world decides to underwrite our economic rescue, the chips will fall where they may.
it's always darkest before the dawn...
Labels: banking crisis, global oil companies, oil, oil prices, Paul Craig Roberts, subprime mortgage crisis, U.S. dollar
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posted by profmarcus at
1/02/2008
