This Author was perplexed about choice of Subject, wondering about $66/barrel Oil, Brazil raising its Minimum Wage, falling Jobless claims, the massive Chinese Trade Surplus for July, the erosion of American Refining capacity, or a Reuters' Report that the International Energy Agency plans on raising its projected World Oil consumption again. None held especial appeal to the Author, who is feeling a tad depressed anyway; considering a friend called, stating the Author should attend a Senior Citizen Wellness program.
Is there any Good News out there today?
The Answer is Little!
The Yuan appears to be sticky without Chinese Central Bank aid, and the Dollar is dropping against other Currencies. The Iraq domestic occupation is getting bloodier every Week, and oh, ask Rumsfeld; there will have to be another Special Appropriation this Year. The IRS is not braying about Tax revenues pouring in, because they are not. American Gasoline consumption is rising, and American Gas Stocks are declining. Is this beginning to sound like the Grinch who stole Christmas?
The most disheartening element lies in the lack of Corrective measures taken by Anyone, with blame to Everyone. Congress and Advertisers have just started a new battle over the Roberts' nomination. The passed Energy bill gives nonexistent funds to Corporate entities, but not research; it containing absolutely no help for strained Refining capacity, or attempts to curb American Oil consumption. There is much comment on the Chinese Trade Surplus, but where oh where is there discussion of the American Trade Deficit (hint: a lot of VIPs do not like the numbers). Can George W. play the fiddle as well as Nero? lgl