AIKEN, South Carolina – Aiken is battened down.
The wind is blowing hard… dark clouds race across the sky… trash bags tumble down the main street.
“This is tornado weather,” said a local resident. “You better be ready to run.”
No cyclone appeared.
Meanwhile, in the stock market, prices went down and then back up, ending the day up 53 on the Dow.
Commentators in the press said the turnaround was the result of news from the oil industry.
“Oil pulls out of dive…” was the start of a headline in USA Today.
A Fake Economy
Last year, when oil was in the $50 range and diving, rising oil prices would have been regarded like a visit from Count Dracula on a stormy night.
Expensive fuel sucked the blood out of the consumer economy, said the experts.
Now, by some magic, oil is only half of last year’s level, but the rising price of oil is…This post was originally published on this site