Feeling gloomy about the economy?
Well, at this very minute you can console yourself with the price of crude oil, which is down around $92 a barrel, $55 below its recent peak of $147.
Also, the Dow is relatively calm today, after yesterday’s big sell-off. And gold is down a tad, and still way off its peak. The dollar is gaining slightly.
I’m sure that this is very upsetting to the Obama campaign, which was selling economic turmoil and catastrophe yesterday. Perhaps the market has bottomed for turmoil and catastrophe. The price of gold says so. Maybe it’s time for an Obama phone call to George Soros to see if he can’t make something happen.