Wednesday, August 12, 2009

Trade deficit increases in recession - another 'green shoot'?



Why?br /br /Primary due to a href="http://www.nytimes.com/2009/08/13/business/13econ.html"rising oil and gas prices/a.br /br /Why? Wall Street hails this as another sign of recovery, but, maybe it has another reason.br /br /Meet Andrew J. Hall, arguably a href="http://www.nytimes.com/2009/08/02/business/02bonus.html"the king of oil commodities future speculators/a. It was him and his ilk, in addition to legitimate supply and demand concerns just 12 short months ago, who were probably adding an extra $25/bbl to the price of oil even as we were already officially in a recession and moving deeper into it.br /br /It’s people like him who have caused the recent spike in gas prices, all because Wall Street is less “recessed” than you and I.br /br /Oh, and he wants $100 million from Citigroup for his work, even though Citi got bilions in TARP money from Uncle Sam, aka “you and I.”div class="blogger-post-footer"There is no god and I am his prophet.img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/7532871-5590610411588872285?l=socraticgadfly.blogspot.com'//div

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