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.