Tuesday, June 16, 2009
HAMPERING THE RECOVERY
Wall Street seems to think the worst of the recession is over… 48 straight days of increasing oil prices and increasing interest rates likely means that consumers will limit their discretionary spending at a time when we need an increase in spending to revive the economy. The sick thing is that oil demand is not excessive, it’s just speculators again…and the Fed lending rate to the institutions is still at zero so it’s the bond investors driving yields (rates) up also. In my opinion Wall Street is way ahead of the curve in anticipating the worse is over and starting the unwinding on its own…
Just ranting today…!