Paul Levine
Paul Levine
Paul Levineis an American author of crime fiction, particularly legal thrillers. He has written two series, known generally by the names of the protagonists: Jake Lassiter and Solomon vs. Lord. His novels have been translated into 21 languages...
demand hear oil people prices rampant rise supply versus worldwide
We hear from all these people that the rise in oil is just rampant speculation, that it's all going to correct. But I don't think that's the case. Worldwide demand versus supply suggests that prices are going to keep rising.
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It's a slow recovery and I think the stock and bond markets are reflecting that. Job growth is not picking up at the level we had hoped, oil prices are up above $53 dollars a barrel, and the consumer is strapped.
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Greenspan's comments will be watched, as well as the Treasury auctions over the next few days and the trade balance Friday.
negative powerful trend
The other big negative is the historically powerful trend of the presidential cycle.