Friday, August 12, 2005

Tropical Storm Irene May Become Hurricane (AP). AP - Tropical Storm Irene was expected to intensify Friday and possibly reach hurricane strength as it approached the U.S. East Coast, forecasters said.[Yahoo! News: Top Stories] Get your batteries now while the getting is good. 11:30:57 AM    comment []

Poll: Many Fear Financial Hit of Gas Prices (AP).  AP - The pinch at the pump is starting to feel more like a punch for a growing number of Americans.[Yahoo! News: Top Stories] What bothers me is that the oil companies are raking in record profits, the just passed Energy bill does little to encourage change and gives discounts and other breaks to these same oil companies that are raking in record profits and the inflation rate, that has helped keep a lot of the economy moving, even if it is not really growing, is about to see a hammer blow similar to that of the mid to late 1970s.  The question is whether the United States can survive the blow this time or if we are starting to look at the beginning of a great depression that could make the crash of the 1930s seem like a minor market correction by comparison.  Only time will tell, but the current leadership, on both sides of the asile does not seem to concerned by any of it. 10:37:36 AM    comment []

© Copyright 2005 David Lane.