The Other Surge

I think Wall Street is out of it’s collective mind.

Gas prices rose more than eight cents in the past two weeks to a national average of $2.87 per gallon of self-serve regular — and are expected to further rise — according to a national survey released on Sunday.

That marks a rise of 69 cents at the pump since late January, Trilby Lundberg, publisher of “Lundberg Survey,” said. The “Lundberg Survey” tallies gas prices every two to three weeks at about 5,000 gas stations.

Sure, corporate profits are up. But between the collapse of the housing market and the return of inflation we are on very shaky ground indeed.

3 thoughts on “The Other Surge

  1. Glad that someone else feels the same way. Irrational exhuberance, indeed! The stock market is less like a barometer of economic health, and more like a lottery for the super-rich – after all, it’s the top 2 percent that madly move their millions in and out between stocks and bonds. The rich get richer…

  2. Those of us who are retired are caught between a rock and a hard place. We can keep our nest egg in money investments, and inflation will eat it up. Or we can utilize the stock market to try to avoid that, and this irrational exhuberance can eat it up if we aren’t really careful. The stock market is not just for the wealthy, even though it is true that virtually all of the big money made there is made by the very wealthy. I would qualify as “very wealthy” only in a third world nation, but I rely on the stock market to maintain my modest standard of living.

Comments are closed.