Miners and financials lead broad gains in Toronto, says the headliner on the TSX web page. Umm, we just lost 129,000 jobs in a month, just about all of them good ones, and these marketeers bet some more. Based on the bailouts maybe? Some short term paper profits there? I dunno, it doesn't make sense.
Another headline says Bushco wasted 78 Billion on the financial industry with his hurry up bail out. And yet the TSX is up 155 points as I write and US markets are up 188 points.
Meanwhile oil is down to $39 again and pump prices went up again 2 days ago. Futures contracts, misreading the future, disapearing excess inventories sitting in tankers and profits for the greatest gougers of them all. Yup, makes sense to me. Demand, that greatest evil of all has fallen, the price of a barrel of oil, then next biggest evil of all has tanked, and yet......the pump price goes up again. It was 95 cents a litre for diesel at the pump yesterday. FOR DIESEL! A ruddy by product. Oh yes, that's because of all those folks buying diesel jettas and the like. According to the lying oil companies that is.
So now we pay for all those developments that are no longer economically viable. Kind of like paying for a mortgage of $300,000 on a house that's now worth $240,000. Only in the end, you will own the house, but not the tar sands nor the rest of the expensive projects made necessary by ever expanding policies of shipping crap all over the Continent and the world that we didn't need in the first place.