Friday, June 24, 2011


The price of oil has now fallen below $90 a barrel for the first time in over four months.

Remember when the headlines in NYC blared "Ford To City: Drop Dead?" The way he dealt with NYC's severe financial problems in the mid-70s most likely cost him the election in '76, as Carter narrowly took the state of New York.

Anyway, on Wednesday, the chairman of the Federal Reserve effectively told the U.S. economy to drop dead. It might cost him his position, too, as investors down the road might seek an economic scapegoat....

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