Hey folks. Was just coming back from Capoeira and I heard two interesting things on 1010 wins. (Yeah so what, I turn it on to get the quick news, switch to WBAI, and often turn to my iPod)
1) A market analyst said: "investors are speculative because of housing and jobs." Apparently the next job report comes out tomorrow and it seems like Market Watchers don't think that either the housing or job market is getting any better. I can definitely say that both are rock bottom in Newark and in many places that I work with throughout the country (about 19 cities). VERY IMPORTANT: even if the jobs report says that unemployment is down, remember that unemployment only refers to the people on the unemployment rolls. In other words: (all the people who are ineligible for unemployment)+(all the people who do not seek work) ARE NOT IN THE EQUATION! This means that even if employment numbers are up, there are not really more people employed.
2) CRUDE OIL IS DROPPING! Why? Cuz people aren't buying any. Apparently supply is going up and demand is going way down. What I think is funny is that gas was $4 in 2007 (I've kept my receipts since Fall 07 when prices last peaked). People are so shocked now, and rightfully so, but I think that it is especially hard on folks because in 2007 THE BOTTOM STILL HAD NOT FALLEN OUT! I want to give kudos to my boy Chris Blaine here who pointed out that after the 2007 peak, the bottom fell out, meaning WATCH OUT because the next big crash may come.
Here is an explanation of how YOU going to the pumps less, caused prices to fall from PBS (yes, the Public Broadcasting Station, which republicans were trying to gut a month ago). I just hope the prices at the pump go down now!
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