Monday, April 05, 2010

Happy Days Are Here Again?

Apparently some seem to think that happy days are here again. So it must be time to jack the prices on the one thing that literally greases the rails of our economy and impacts the average pocket book the most.

Oil hits 18-month high over $85 on economic outlook

Monday, climbing toward $86 per barrel on expectations of faster-than-expected economic recovery.

Data on Friday showed U.S. employers created jobs in March at the fastest rate in three years. Non-farm payrolls rose 162,000, only the third increase since the U.S. economy fell into recession in late 2007 and the largest since March 2007.

U.S. manufacturing is also expanding at its fastest pace for more than five years, while Chinese manufacturing is picking up and Japanese business sentiment is also improving.

U.S. crude oil for May delivery rose $1.02 per barrel to a high of $85.89 in early Asian trade before slipping back to around $85.32, up 45 cents, by 1000 GMT. The market was closed for a three-day weekend including the Good Friday holiday.

U.S. crude has risen almost 2 percent in the first five days of the quarter, versus a rise of 5.5 percent through the whole of the first three months of the year.

If you ask me? This is just another example of our 'speculative reality' as it concerns how we allow our economy and the markets to operate and be manipulated daily.

The jobs news last week was what? Rosey? Based on the news that we supposedly gained approximately 160.000 new jobs? And how does that fit against the other numbers that weekly tell us that we are continuing to lose over 400.000 jobs a week......And factor into the reality that over 60,000 of these supposed jobs created, are census jobs that cease to exist in months.

So yes, on top of everything else from the grandiose health care bill, to the stealth taxes that are being passed and levied on us daily all across this country, we can now look forward to paying more at the pump. And why? Because the economy is starting to look a little better if you believe the latest version of propaganda coming out of Washington.

I say give it a week and once the reality that Treasury Secretary Tim Geitner is playing fast and loose with the Chinese to further devalue the US dollar hits the news? I say things will be quite different in the markets and the opinion polls after that.

But it is a good trade off for America right? I mean we may get the Chinese to agree to some sanctions against the Iranians. And that's a good thing right? I mean so what if it causes our economy to tank. At least that way, we don't have to do anything militarily as it concerns our new nuclear buddies in the middle east. No....we wouldn't want to do anything like that.

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