Crude-oil futures surged more than $25 a barrel Monday as stocks fell, the dollar slid and Treasurys declined amid an investor flight out of U.S. assets.
Stocks traded sharply lower, while the dollar and Treasury prices took a hit as traders fretted that the vast spending necessary to prop up the financial industry will make the government itself a somewhat less attractive borrower. Oil prices soared by the daily limit of $10 as the likelihood of a bailout prompted bets that the economy would stay on firmer footing, keeping demand for fuel on an even keel.
Bush and his Wall Street Journal Opinion Page cheerleaders acts like this trillion dollar rescue will keep us out of a recession. and we can quickly go back to the no-regulation society they have been touting since Reagan took over.
I want what they’re smoking.