10 years ago oil was $10 barrel. The weak dollar is certainly not the only contributor to this 10-fold increase but it’s arguably the largest
Bernanke is on his way to earning title of worst fed chief ever IMO.
Stocks rally 1% after 2 weeks or so of relative stability following yesterday’s 1/4pt cut. Today they drop 2% because oil is at an all time high. Way to go Ben!
The FED and Congress want to keep people in homes who simply can’t afford them, and devalue the dollar to save them $50/month on a mortgage while shifting that “savings” to higher cost food, imports, oil, energy, consumer goods, and just about everything else.
Meanwhile anyone who saves money (who does that these days) loses more and more to inflation everyday, which is supposed to be the FEDs main role.
