Gallon
Gallon
$1 a Gallon & $30 a Barrel?
What in the world is going on? Wasn't it just a few weeks ago that we were paying $3.75 for a gallon of gasoline? Didn't the price of a barrel of oil hit $147? Where in the world is all of this going anyway? Maybe we should take the military policy on gays and lesbians: don't ask, don't tell. But, let's look at some facts anyway.
Let's start with Friday's unemployment report!
U.S. employers axed payrolls by 533,000 jobs in November, the most in 34 years, as the year-old recession hammered the economy and hardened calls for dramatic government action to turn the tide. The Labor Department on Friday said the unemployment rate hit 6.7 percent last month, the highest since 1993, which adds up to 10.3 million Americans out of work or 2 million more than the population of New York City. The jobless rate, which stood at 6.5 percent in October, would have been even higher but for people leaving the labor force in discouragement over their search for work.
Enough said! But, there's a Lot more!
The Big Three automakers are about to become the Little One. Will they merge: will they file bankruptcy though the denial of such has been often repeated. This recession (don't use the "D" word) isn't going away soon. The January changing of the guard from Bush to Obama isn 't going to change the economic pain. Too much damagae has been done already and there's more to come.
The price of metals has already exceeded the fall of metals during the Depression.
Nations are on the verge of bankruptcy (can you say Russia?). Other nations have already gone bankrupt. China is about to experience major social unrest due to poor economic conditions. Third world countries are in severe pain. So, is $1 a gallon gasoline possible? Oh yeah!
And that's both good and bad news.
About the Author
As a spiritual-futurist, I interpret current events in light of possible macro-universal forces at play leading up to 2012, but not limited to it.
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