Conservatism Lives!

Two Overshadowed Bright Spots in the Economy

-By The Reluctant Republican

So unless you live in cave (I’m talking to you, Bin Laden…which reminds me, I’ve been meaning to send you a birthday card. What address should that go to exactly??) you saw the dow continue its dive today. So apparently a bunch of stock brokers are getting their suicide pacts in order and a whole big bunch of people at or near retirement age just took a bath that will severely impact their golden years. Here’s the weird thing that I haven’t heard a whole lot of people talk about lately. The dollar is up and oil is WAY down (like down below $85 from over $140 just a few weeks ago). You may have noticed the price drop at the pump. As a matter of fact, In some parts of the country gas is back down below $3. Since we buy most of our crude from foreign countries, it stands to reason that as the dollar strengthens the price of crude would drop (and yes, we’ve been using less so demand has also dropped), and of course, OPEC is scheduling a quick meeting to see if they can stem the drop off (full story here). But on an otherwise dreary news day for our economy, I thought you might like a couple small glimmers of hope in the rising dollar and falling price of oil.