Oil prices have largest single day hike

There are times when I feel that I’m blogging about the same things day after day. Then there are days like today. News galore.

I think that we will find out in the next 2 – 4 years that this was nothing. Just like the 70’s. This is artificial. These high oil prices are high just because greedy men want to make more money. That’s my guess but what do I know.

From NYT:

Oil jumped more than $10 a barrel today to a new record above $139, sending financial markets tumbling. The Dow Jones industrial average closed down nearly 400 points.

Further jolting the economic and political landscape just as the general election season begins, the nation’s unemployment rate shot skyward last month to 5.5 percent, the biggest leap in more than two decades. (more…)