Snow flurries in Atlanta this morning and real snow a bit north. Not much good news on the economic front either. The dollar fell through a very important support level yesterday $1.50 = €1 and if the dollar doesn't recover quickly this could mean the free fall that many have been predicting. Not making my April trip to the UK any brighter. Ouch! This situation with the exchange rate comes on stop of yesterday's inflation (stagflation) report courtesy of high energy costs.
More bad news on the energy front as well. Oil hit yet another new high, breaking through the $101 level. While it could drop back into the $80 range there is also no reason it won't climb even more. There seems to be more upside pressure than down. Now that the $100 support level has been tested and met it will be much easier for it to go up further. These bits of further bad economic news are brought to you solely by the Shrub and his boys. This bad management needs to be a major campaign issue for the Democrats as McCain tries to take over for Bush.
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