"Jim Thompson" wrote:


http://www.marke****ch.com/news/stor...%7D&siteid=rss

Feb. 26, 2008

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As the broader market began to regain lost ground, crude prices for
April delivery gained 2.3% to a new high of $101.11 a barrel on the
New York Mercantile Exchange, surpassing crude's last record of
$100.65 hit last week.


Some people think the imminent downfall of the US economy is going be
a much bigger problem. The mortgage crisis is just the beginning. I
sure hope the next president has more sense. China and other countries
have huge amounts of dollars. If the dollar is sinking deeper, they
will eventually cut their loss and dump their dollars at any price.

There is also good news: over here in euro-country the low dollar
compensates the high oil prices a bit.

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