Tuesday, October 19, 2010
Phil Flynn: Paying the Price for an Economic Recovery
Since the Fed sent the signal that the printing presses were about to roll we have seen crude add over 11 dollars a barrel from peak to valley, a move that has had an immediate impact on the price of oil at the pump. Gas prices are 26 cents, or 10%, above a year ago while demand for gas hit the lowest level in almost 8 months. Demand for gas is running about 4.8 percent below last year while gasoline stocks are 4.3 percent above a year ago. The threat of quantitative easing, while giving the stock market a lift, is giving consumers the squeeze. A fine price to pay to save the economy......Read the entire article.
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