Another psychological barrier falls with oil hitting $110/bbl. If the Street’s rumor about Ben Bernanke, The Worst Fed Head Since Greenspan™, wanting to cut interest rates 3/4 a percent next week, is true, well, oil will break $120/bbl before the end of this month.
As a result of oil and other things, the Dow dropped nearly 50 after yesterday’s 300-point gain.
Big Ben is going to bring us a snootful of stagflation and he’s clueless.
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