Economic News: A Cloud That Lacks A Silver Lining
May 17, 2008 by Douglas A. McIntyreLate news out of the economy track system is that the buildings are collapsing all around.
After Goldman Sachs (GS) panicked and said that oil would rise to $141, crude immediately spiked to $128 as traders jumped on the railroad of self-fulfilling prophesies. It will get worse. US refineries reported that they are making more diesel and less gas. Look for the pump to read $5 a gallon by Labor Day.
In Ann Arbor, the Reuters/University of Michigan preliminary index of consumer sentiment dropped to a 17-year low with a figure of 59.5. According to Bloomberg, this "compared with an average reading of 85.6 in 2007." That is lower than the Nautilus was able to go in Jules Verne’s "Ten Thousand Leagues Under The Sea".
Hard news.
Douglas A. McIntyre
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.