Friday, November 21, 2008

Signs of the Times

The deflation trend is being led by gasoline, at least in this part of the country. Gas! Get your gas! Regular gas is now $1.99 at Citgo and Shell in Warren Maine.
NYU economics guru Nouriel Roubini said in a recent e-newsletter that rallies in the stock market are sucker rallies.
According to Roubini in this Bloomberg News video, financial markets are like jungles. Prudent regulations could have kept the nation from having to wrestle with the worst financial crisis since the Great Depression. Indicators show the market destined to drop at least another 15 percent as people stop buying and investors bail. Credit remains difficult to obtain. Banks and financial management houses have not yet owned up to all their losses, as might be surmised from the huge drop in Citibank stock yesterday.
The photo to the left was found on Flickr, part of a pool of photos taken by a group monitoring gas price signs.

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