Judging by the exuberant equity market, it is not 'low' gas prices, but high gas prices that are "unequivocally good" for America - after all the market is ultimate arbiter of how the average joe feels, right? However, if you drive a car - or gas-hungry truck - you may have noticed something in the last month or so - gas prices at the pump are up almost 25% from the mid-Feb lows, the biggest surge since July 2009.
Despite the proclamations from any and every Federal Reserve talking-head, Sam Zell appears to be willing to 'peddle some fiction' about the less than awesome reality in America. Having correctly called the top of the last commercial real-estate cycle, Zell is predicting global problems will likely push the U.S. into a recession in the next year...
"I’m not being pessimistic, I’m being realistic,” he said last week at a real-estate conference in New York. The U.S. economy is now “in the ninth inning,” he said.
Can you believe it? We’re in the last year of the presidency of the man who, on his first day in the Oval Office, swore that he would close Guantánamo, and yet it and everything it represents remains part of our all-American world. So many years later, you can still read news reports on the ongoing nightmares of that grim prison, ranging from detention without charge to hunger strikes and force feeding. Its name still echoes through the halls of Congress in bitter debate over what should or shouldn’t be done with it. It remains a global symbol of the worst America has to offer.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
