Skip to comments.Surging oil prices weighing on markets
Posted on 02/27/2012 4:59:21 AM PST by Hojczyk
Surging oil prices weighing on markets amid fears they could choke off economic growth
Sky-high oil prices weighed on markets Monday as investors worried that the increases could choke off a burgeoning economic recovery, particularly in the U.S.
Sentiment in the markets has been buoyed in recent weeks by a seeming calm in Europe's debt crisis and a run of strong U.S. economic data, particularly with regard to jobs.
One side-effect of the positive U.S. economic newsflow has been to put upward pressure on oil prices. Despite a modest retreat back below $109 a barrel Monday, the benchmark New York rate is trading way above where it was just a month ago. Last Friday, it hit $109.77 a barrel, its highest close since May 3. Crude has soared from $96 earlier this month as stronger U.S. economic indicators bolstered investor confidence.
"At this stage of the global economic cycle, with activity in many of the major advanced economies sluggish, a rise in oil prices threatens to intensify the recessionary prospects facing these economies while, at the same time, raising the headline rates of inflation," said Neil MacKinnon, global macro strategist at VTB Capital.
That fear has weighed on markets Monday.
In Europe, the FTSE 100 index of leading British shares was down 0.7 percent at 5,894 while Germany's DAX fell 1.1 percent to 6,789. The CAC-40 in France fell 1 percent to 3,432.
(Excerpt) Read more at finance.yahoo.com ...
Quick, get The FED to print up another trillion or two.
That should help the “recovery”.
Real simple answer to the MSM:
Everybody goes to the gas pump.
Whenever you’re there, make it a point to engage with other folks near you about “Obama’s Gas Prices - it was 1.60 a gallon before HE was elected.”
Harp on it, every time, all the time, loudly, stridently...whatever adjective you want insert.
If they argue, just point to the sign with the prices on it, and say, again, “it was 1.60 a gallon when HE was elected...and he wont let the oil companies drill here.”
You’d be surprised at how effective it is...
Here's a good one to add just to kick them when they are down, my favorite sport:
Add to the above
“ Are gas prices MOVING IN THE RIGHT DIRECTION as Obama claims the economy is? ”
I’m all about kicking them...when they’re down or otherwise.
Just doing my part and showing all the love, devotion, and respect they showed my President for eight years...
Gas in Cal was 1.88 when Bush left. Now, it is 4.20 for REGULAR!
History teaches us the piper will be paid...
Sunday I was flipping the channels and stopped a few minutes on the Chris Matthews Sunday show and he was going on about how Republicans just hate Obama for being Obama, no valid reason, and how no POTUS in history as EVER been talked about in the way that Republicans do with Obama.
Reminds me of when Chris played a clip of Rush and then he responded to it claiming that no one ever called a POTUS administration a regime before Rush did with the 'Obama regime', and only the next day a clip of Matthews appeared where a few years earlier on Hardball he referenced the ‘Bush regime” in a negative context.
Buy a solar powered car and only travel when it is sunny, and get a tax $$$ credit too.
Obama is good at making fun of Republicans, are they too scared of him to return the favor?
LOL!! I’m holding out for a Volt/Prius.........
I am waiting for a car that runs on junk mail. Then I will send the DNC a dollar.
Republicans, as a whole, are afraid of their own shadow.
They should have been pounding Obama mercilously every day for years!
Obama is the easiest target we have had in American history. His incompetence is manifest, yet hardly a peep out of anyone in D.C.
If it gets so bad they can't praise the economy with a straight face, my guess is they will switch to blaming the GOP house.
LOL....so do I!
I think it would be a hoot if some stickers were printed up, and folks pasted them on the gas pump at their local station.
Food for thought...
The average cost of gas per gallon on 01/21/2009: $1.87 (I’m not sure the exact figure, but it was near this as I understand it)
Maybe we do need someone who will allow drilling in the Gulf and a pipeline from Canada. What do you think?
For later read...
“...are they too scared of him to return the favor?...”
I’ve been making fun of the donkey-eared feckless marxist douchebag since Day One...to anyone and everyone.
“...some stickers were printed up, and...”
Or better yet - A bumper sticker that says:
“5 Bucks A Gallon? THANKS OBAMA...”
Couldn’t you have included Islamic adherent there anywhere? ;^)
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