Market Confusion
Economic bellwethers:
This summer: OIL
Last winter: FINANCIALS COLLAPSE (remember Bear Stearns)
Last summer: CREDIT CRUNCH
2006-2007: FALLING HOUSING MARKETS
In every case above, the new bellwethers just piled on more market uncertainty. In the wake of WSJ's pessimistic article about $200/barrel crude, CNBC's Power Poll demonstates the divide:
Conclusion: Stay tuned, pessimism abounds.
Regardless if it is $100 a barrel or $200 a barrel, According to T. Boone Pickens, $600 Billion left the United States Last year for Oil alone.
Tough to build a solid economy when so much money is leaving the country in the first place and That's the real story.
It's kind of like renting... EVENTUALLY it will cost you more then buying and investing in yourself.
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Sorry.. it was $700 Billion. There are some serious leaks that need to be plugged.
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Lets hope for the sub $100 range, but reality is that until people can make major changes in how they commute the oil companies can keep prices at inflated levels.
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Sorry, I am always the optimist... the market will correct with conservation, exploration, and/or consumer choices. Just a matter of time before our citizens look into alternative sources of energy that make sense. Looking forward to it.
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