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The banksters aren’t worried. They know they still have Social Security and Medicare left to pillage.
"U.S. Trade Gap Widens on Oil Imports"
The U.S. trade deficit widened for the first time in eight months during March, as the price and use of imported oil both climbed.
The U.S. deficit in international trade of goods and services increased to $27.58 billion from February’s revised $26.13 billion, the Commerce Department said Tuesday. Originally, the February deficit was estimated at $25.97 billion.
U.S. exports in March slipped by 2.4% to $123.62 billion from $126.63 billion as trading partners bought less consumer goods and cars from the U.S. U.S. imports fell at a lower rate, dropping 1.0% to $151.20 billion from February’s $152.76 billion.
The U.S. deficit with China widened during March, to $15.62 billion from $14.2 billion in February.[...]
2 Comments
As I keep pointing out, if you look at the state of the world economy, the deflationary pressures in it, and the current glut of oil on the market, oil should be trading in the $30-$35 range. As I write, it is at $58.37.
See the discrepancy? There could be some other factors involved but principally this is a repeat of what we saw last summer only smaller because there is less money available. But what we are seeing is that as the government makes money available to banks in name only (BINOs), like Goldman and Morgan Stanley, they are taking it and using it to restart speculation where they can. Companies like these not only serve no useful purpose in our economy, as the numbers you cite, they actually work against our interests. And putting salt in the wound they are doing it with our money.
Parenthetically, gasoline prices are also on the rise. It may not seem logical but the price of oil and gasoline are only loosely connected to each other. Basically, the oil companies are drafting off the run up in oil prices by the BINOs and using it (and some seasonal factors) as cover for a spike in gasoline prices.
For laughs, you should keep these things in mind and then see how the increases in both oil and gasoline are covered in the media.
Thanks Hugh.
“BINO,” lmao.
IIRC, your website only accepts donations via paypal, which I have had problems with in the past. If you could email me at johncasper at hotmail dot com, I’d like to snail mail you a check.