Monday, January 23, 2006
Hmmmm...let's do a little economic inventory today.
Oil prices are now at Katrina levels, and rising, according to the CSM. With the coldest part of winter to come, and the increase in driving heading into the summer months, and no decrease in pricing on the horizon according to forecasts, that's not looking so good.
And what happens when oil prices increase? The cost of everything that requires transport goes up as well. Groceries, building products, you name it.
But at least that surge in energy prices might slow down the rising interest rate from the Fed. Whoo boy, let's par-tay.
Oh, and for car manufacturers who've been making a living off SUVs? Life has hit the slow lane. Ford announced that it is cutting around 30,000 jobs (yep, you read that correctly) to trim costs.
I dunno everything about economics, but I do know this: headlines like these aren't good politically for the Republican party, when they are happening at the time that they control both Congress and the White House.