Saturday, December 18, 2010

About that Double-Dip Recession...

Like a wire-walker, the economy is carefully balanced right at this moment. The neighborhood Mobil station is still dispensing gasoline at $3.25. I'm glad we have places like Stewart's Shoppes and Citgo stations, where gas today is selling for $3.17 and $3.13, respectively! Whether they realize it or not, these businesses are helping keep other businesses open! If gas were more than $3.25 at these establishments, you would see dramatic Christmas shopping cutbacks! Keep watch on those oil prices...

There's technically nothing "wrong" with my previous "double-dip" economic prediction. It's just that a number of things have come together to put the economy on "hold" - gas steady at $3.25, President Obama extending the bush Tax cuts and Unemployment benefits, plus deep discounts at stores like K-Mart and Wal-mart. (Retail stocks were little changed on Friday as stores geared up for the last shopping days before Christmas.) These events are also a drag on any sort of economic recovery we might be anticipating. So don't get too cozy. I'll update that ddip post in a New York minute if things begin to slide. Yeah, that's it - IF and WHEN...
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