The Deep Shit
The Fucking US government is going to ruin this country with the lack of an energy policy that favors growth, or even goddamned survival. Read former Shell Oil CEO Hofmeister's take on where oil and gas prices are headed in the US.
Later in the article are bonus data on manufacturing capacity utilization, unemployment, consumer spending and housing data. All bleak. Some highlights below.
Gasoline prices heading to $5.00 per gallon
Economic growth is falling to sub 3%, resulting in no improvement in the unemployment rate
Manufacturing capacity utilization at 72%
U6 unemployment rate at ~17%
A record 19 million vacant homes, 14% vacancy rate
Commercial real estate price index at almost 50% of previous high
Housing prices to fall another 20%
We're in deep shit and the government is just making it worse. We'd be better off letting the kids on the short bus lead us. At least they aren't evil.
Later in the article are bonus data on manufacturing capacity utilization, unemployment, consumer spending and housing data. All bleak. Some highlights below.
Gasoline prices heading to $5.00 per gallon
Economic growth is falling to sub 3%, resulting in no improvement in the unemployment rate
Manufacturing capacity utilization at 72%
U6 unemployment rate at ~17%
A record 19 million vacant homes, 14% vacancy rate
Commercial real estate price index at almost 50% of previous high
Housing prices to fall another 20%
We're in deep shit and the government is just making it worse. We'd be better off letting the kids on the short bus lead us. At least they aren't evil.
posted by lugh lampfhota at 9:30 PM
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