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Want a Recession? Here’s a Recession.
So, yesterday morning I stop at my usual convenience to get a coffee and the price of regular is $4.49. A week ago, it was $4.69. A week before that it was $4.89. So, when I fill it up tomorrow, I’ll have enough left over from my Jackson to buy my coffee and a lottery ticket too.
Turns out the benchmark for Brent crude has gone down to where it was in April and is now back under the magic $100-dollar per barrel price. And the traders all seem to be saying that the price is still going down even more.
Huh? How did this happen? I thought that…who cares what I thought? The bottom line is that nobody knows nuttin.’ As if that ever stopped anyone from shooting their mouth off, right?
And after all, since we all drive, that makes us all experts on how come we are paying so much at the pump.
That’s only half our expertise, by the way. The other half has to do with the fact that the real reason gasoline prices are down is because we’re heading into a recession. Despite the fact that the economy added nearly 400,000 jobs in May and the unemployment rate is still 3.6%, everyone knows that things are going to get worse.
Meanwhile, here’s Joe sitting in the Oval Office complaining how he’s really getting killed in the polls because of the high price of gasoline, and one of the twits pipes…