Crude Oil At A 10 Month Low

Posted on Mi 08 Oktober 2008 in misc • 1 min read

  • Economy
  • Futures tags:
  • Economy
  • Oil meta: _edit_last: '5' _aioseop_keywords: Cannondale, Biking, Economy, Oil, Hummer, McMansion dsq_thread_id: '181044127' author:

    The only bright spot I can see for our economy is lower oil.  It's sure to help with heating costs this year as people struggle to heat their McMansions or fill the tank on their Hummers.

    Sentiment is extremely pessimistic, people believe we'll see a global recession despite the measures being taken by governments,'' said <a onmouseover="return escape( popwSearchNews( this ))" href="http://search.bloomberg.com/search?q=Jochen+Hitzfeld&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1">Jochen Hitzfeld</a>, an analyst at UniCredit Markets &amp; Investment Banking.Many commodities like platinum, agricultural commodities or gasoline have fallen below their production costs.''[via Bloomberg]

    It might be time to buy a bicycle and start walking to the grocery store.  This market crash in equities and commodities will rewrite human history, as it did in 1932.