High Prices Cause Drop In... Prices
We're really trying to get our heads around this whole "The Economy" thing. And here's what we've put together about this turbulent week in...
We're really trying to get our heads around this whole "The Economy" thing. And here's what we've put together about this turbulent week in American money: The inflation rate in the US is at a 17-year high, driven up in part by sky-rocketing energy prices. Rates have been rising 1.1% monthly. People are paying 5% more for the stuff they buy than they were a year ago. That is what we like to call "bad news bears."
However, as a result of the ensuing economic panic and the not-unrelated decreased demand for oil, yesterday was the second day in a row world oil prices saw a decline. This-aided in part by other disastrous economic circumstances-dominoed into a Wall Street spike of 2.5 percent, bringing the Dow up by more than 270 points.
It's not more than the calm before the Depression, but if you're a true optimist, you might see this as a glimmer of hope. And if you're an off-the-grid back-to-the-lander who lives in a secluded cabin in Vermont, you are probably more on the right track than anyone else.