Wednesday, June 03, 2009

Down day on dow

Another down day for the dow, after bad news came in. It appear the recovery is derailed. The Down Jones Industrial Average no longer contains GM which went bankrupt. Cisco is replacing it. AAA says that energy prices are going up. Gasoline which was $2/gallon last month is now over $2.50/gallon. I predict that we will see oil go up for two reasons. First we hit peak oil in 2005, second a decline in the value of the dollar.

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