Friday, June 04, 2010

Global Finances 04 June 2010

Things aren't really looking very well, judging by the world markets widget you'll find nestled in this blog's sidebar. There are problems.

Wall Street ended the week on a downer.


Exchange Last Change

United States Stock Market DJIA® *
9931.22
-324.06

United States Stock Market Nasdaq
2219.17
-83.86

United States Stock Market S & P 500
1064.88
-37.95

The Gulf Oil Spill situation is worsening. The pictures on the evening network news were quite disheartening, with the wildlife affected, and the gooey tar now appearing on the white sandy beaches of Florida.

The new US jobs / unemployment report is flawed. Although the numbers look good on paper, the "new" jobs are mostly temporary census jobs, and many unemployed are now going uncounted after having been out of work for way too long. If you have a job, take a moment RIGHT BOW and give thanks. For every one of you there are three or four who are not so blessed.

And I haven't even touched on the International scene...

Murphy's Law ::: just when you think nothing else can go wrong, it will. I'm not going to go deep into analyzing the problems, at least not this particular post. The silver lining (as I have stated in a previous article) is that the oil industry's plan to raise gasoline prices at the pump to about USD$3.50 a gallon has been effectively thwarted, thanks to the oil spill, which demonstrates how rich just one well can be, and just how rich companies like BP are. Gas at one of my local station is $2.80 tonight! Big Oil doesn't dare raise the prices until they get that spill capped, contained and cleaned up!
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