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So, How’s That Economy Now?

Hmmmm…let’s do a little economic inventory today.

Oil prices are now at Katrina levels, and rising, according to the CSM. With the coldest part of winter to come, and the increase in driving heading into the summer months, and no decrease in pricing on the horizon according to forecasts, that’s not looking so good.

And what happens when oil prices increase? The cost of everything that requires transport goes up as well. Groceries, building products, you name it.

But at least that surge in energy prices might slow down the rising interest rate from the Fed. Whoo boy, let’s par-tay.

Oh, and for car manufacturers who’ve been making a living off SUVs? Life has hit the slow lane. Ford announced that it is cutting around 30,000 jobs (yep, you read that correctly) to trim costs.

Housing? Sucking.

I dunno everything about economics, but I do know this: headlines like these aren’t good politically for the Republican party, when they are happening at the time that they control both Congress and the White House.

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Christy Hardin Smith

Christy Hardin Smith

Christy is a "recovering" attorney, who earned her undergraduate degree at Smith College, in American Studies and Government, concentrating in American Foreign Policy. She then went on to graduate studies at the University of Pennsylvania in the field of political science and international relations/security studies, before attending law school at the College of Law at West Virginia University, where she was Associate Editor of the Law Review. Christy was a partner in her own firm for several years, where she practiced in a number of areas including criminal defense, child abuse and neglect representation, domestic law, civil litigation, and she was an attorney for a small municipality, before switching hats to become a state prosecutor. Christy has extensive trial experience, and has worked for years both in and out of the court system to improve the lives of at risk children.

Email: reddhedd AT firedoglake DOT com