Monday, March 24, 2003

Business Cycle: The Dow retreated faster than the Iraqi regulars early today, down 200 within the first trading hour. I'm not surprised. Listen to Forrest Sawyer for long enough and you'd swear we're getting shellacked over there. My guess (and guess only, as I've said before) is that the market likes this war, in the long run. Success doesn't mean that all our financial problems are solved, but the economy likes safe oil wells ready to pump some Persian crude.

Side note: Crude prices continue to ride in the mid-20s. So why am I still paying $1.70 for regular? Yes, I understand that retail prices don't move as quickly as wholesale prices, but in a responsive market they should move almost as quickly.

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