Quote:
|
Originally Posted by Wagner
It will be more interesting in the following weeks when the BS candidates tell how great it is. That followed by a FED rate cut driving the dollar farther into the toilet and pushing oil even higher.
|
One positive effect of the failed bailout is lower oil prices and a stronger dollar. I guess if Congress passes something later this week we can expect the opposite.
http://biz.yahoo.com/ap/080929/oil_prices.html
Monday September 29, 6:26 pm ET
By Stevenson Jacobs, AP Business Writer
NEW YORK (AP) -- Oil prices tumbled more than $10 a barrel Monday, dropping back below $100 as a U.S. financial bailout failed to win legislative approval, raising fears of a prolonged economic downturn that could drastically erode global energy demand.