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Wednesday, July 02, 2008

More about oil's new high, over $144

Brace yourself because Thursday may be worse. There are plenty of rumors that the European Central Bank will increase interest rates to punch back at inflation. If that happens, the dollar is likely to decline again which means oil will increase again. The Republicans really did a job on the US economy and more analysts are saying things will get worse in 2008 before they show signs of life in 2009, maybe.

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