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Fall Of The American Empire Discuss the ways in which America is falling. The Roman Empire never had this chance to discuss their own downfall, we do...what do you think? Immorality, gay marriage, political correctness, selfishness, hatred, rage, complete and utter apathy is going to destroy America, period. Let's watch it happen and talk about how and why it's happening here!

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Stocks stumble on record oil, inflation worries
  #1  
Old 05.20.2008
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Stocks stumble on record oil, inflation worries
Stocks stumble on record oil, inflation worries
5/20/08
Quote:
NEW YORK - Wall Street tumbled Tuesday after oil prices spiked to a new record above $129 a barrel and a government report raised investors' concerns about the impact of inflation on consumer spending. The Dow Jones industrials fell nearly 200 points.

Crude jumped after OPEC's president was quoted as saying his organization won't raise its output before its next meeting in September. That sent a barrel of light, sweet crude to a trading high of $129.58 on the New York Mercantile Exchange.

Meanwhile, the Labor Department's producer price report, which indicated higher energy and food prices might be seeping into other parts of the economy, compounded the concerns raised by higher oil. The department said wholesale inflation edged up by 0.2 percent in April following a 1.1 percent jump in March, but outside of food and energy, prices rose by a faster 0.4 percent — double what analysts expected.
http://news.yahoo.com/s/ap/20080520/...8efJiPnOSs0NUE
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Old 05.20.2008
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and sadly its only gonna get worse.

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Old 05.21.2008
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Well, the stock market is FAR too hot and high for all the indicators we have now...JUST like in 1929 man. Yes, we are in for a really big surprise...luckily we have a bunch of retards on Wall Street right now that have their eyes closed so far....phew....but reality will hit, always does.
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Old 05.21.2008
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Stocks fall after oil passes $132
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NEW YORK - Wall Street declined Wednesday as oil's stubborn climb and questions regarding debt ratings kept investors' jitters alive as they awaited minutes from the Federal Reserve's last meeting.

Crude oil shot past $132 a barrel for the first time Wednesday after the Energy Department reported a surprising decline in crude inventories last week following four straight weeks of gains. Crude rose to $132.69 a barrel by early afternoon on the New York Mercantile Exchange — up nearly $20 since the beginning of May.

"There's almost a parabolic rise going on," said Richard E. Cripps, chief market strategist for Stifel Nicolaus. "I do sense that the stock market is searching for where that oil peak is going to be ... but till it finally gets there and backs off, I think the stock market is under pressure."
http://news.yahoo.com/s/ap/20080521/...GJxEKVuEes0NUE
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