The Summer of our Discontent

It is truly the summer of our discontent. Indeed, it’s hard not to believe that something of a cosmic nature is afoot. Consider the following:

  • The stock market is at its worst relative since 1970.
  • The financial system in the U.S. is in turmoil
  • Credit markets are basically frozen
  • The price of oil is at a record high, and probably going higher
  • Gasoline is heading toward $5 gallon
  • Inflation is on the rise and the flooding in the mid-West will only make this situation worse in the months ahead.
  • The housing market is showing little signs of recovery

Now all of the above are bad enough but add to the mix the political situation in the U.S. On the one hand we have in John McCain a man that admits to knowing little about economics, and seems hell-bent in getting into a fight with Iran.  Barack Obama is a nice enough fellow, and his election would be a historic event in American history.  Unfortunately, his economic policies may prove disastrous. I am particularly disappointed with Obama’s stance on off-shore drilling and nuclear power.  He should know better. 

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