Monday, January 11, 2010

Oil Above $83 As Dollar Falls Because Of Jobs Report.

Get ready for higher prices for petrol, and everything else related to it, including higher shipping costs for food and everything else. The dollar fell against the Euro and the Yen as traders bet the Fed will raise interest rates after last week's jobs report. Also, China has supplanted the United States as the world's biggest auto market, which makes sense since their population is at least four times our own. However, higher taxes and government interference, into business practices, coupled with a high minimum wage and perceived looming taxation will continue to keep the job situation stagnant, at best. Which is just what the Democrats want. The minimum wage should be rolled back to $5.15 per hour. When America hired a majority of Democrats in 2006, to run the congress, their first plan to sabotage the economy was the raising of the minimum wage, under the guise of helping the poor, many unthinking Republicans voted along with them fearing their own chances for reelection, and paid the price anyway. Raising the minimum wage has only helped to hurt those it was allegedly intended to help. The result is evident today. Who will have the brass ones to roll the minimum wage back?

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