Hey all. I am back, tired, and sunburn which means it was a good weekend. Of course there was talk about the markets. My bearish opinions in conflict with a couple of bulls. Also some conversation on what no one is talking about, the treasury move last week. That was the story last week. Biggest move since 1982 which is when interest rates where double digits. Your talking a multi sigma event that is not getting much attention in the financial media.
Anyway saw this which was a little different twist. Auto companies worried about an oil crash.
"When prices collapsed in the late '70s all investment in alternative fuel technology ceased and essentially that led the auto industry to the mess it is in today. The same would happen if prices fell below $50 a barrel today."
Cole, with the support of leading US auto industry executives, is expected to call on Congress to set a floor for the price of oil.