Tuesday, February 26, 2013
off key i sing
The US eek conomy is trying to recover. It acts like it wants to, but it cain't.
Because we're driving so much less, the price of crude is down to just a shade over $92; wholesale gasoline at $3. Three years ago it was $75, but if we control the trips to the convenience store, this is doable.
House prices are up almost 7% on average nationwide, the embryo of real recovery. It means householders are beginning to recover some of the wealth that vaporized during the big clusterschnazz, in the form of equity.
Other commodity prices besides oil are low also: gold at $1590/oz and silver at 29. US Morgan silver dollars and Mexico silver pesos, 1902-1920, remain excellent investments.
Unemployment remains at 8%, or 12 million people, which is inexcusable, and the main reason real recovery and re-constitution of the eek conomy is not moving forward. That's 12 million Americans, a lot of them laid-off construction workers who could be building our future infrastructure and maintaining what's being neglected now.
This is what led Mark Thoma to write in the Fiscal Times, "Our real worry isn't the debt, it's our politicians."