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Two years ago in this blog, I wrote a futuristic column from April 20, 2009. The title of the column was “Remember When Gas Was Cheap?” At that time I predicted that the price of oil in early 2008 would reach $125 and that in April 2009 it would be $137.
In January of 2007 I was invited on the “First Business” syndicated business program to discuss the price of oil for the remainder of the year. At the time the price was $53 a barrel. I basically told the flabbergasted reporter that I thought the price of oil …

[Note to readers:  this column was written a number of weeks ago, but was in holding as I wrote columns about some more immediate travel related subjects.  With the turmoil in Tibet this past week, it is clearly a topic in the news.  I have updated the prior column to include the recent upheavals.] 

When countries or cities submit bids for hosting the Olympics it is usually done with a great sense of pride and boosterism.  The governments and economic vested interests all look to hosting the Olympics as a way to showcase their “world class city”.  In the case of …

Optimism About the Future

There is a lot of pessimism in the air.  As we come to the end of the first month of 2008 it seems that many are in a negative, hunker down state of mind.  The stock markets are being fueled by fear.  The commentators are speaking as though a major recession has begun. Casualties continue at too high a level in foreign combat, and of course it is cold and dark outside for much of the country.  All this in a country that seems to have optimism in its national fiber. 

Debt, Debt, Debt, Debt

Debt is one of the primary underpinnings of the economic turbulence we are now experiencing.  In the last 50 years debt has gone from something occasional to something universal, embraced and now endemic. Borrow against the future to pay for today.  Debt, debt, debt, debt is like the drip, drip, drip, drip of a faucet that slowing fills up a sink and overflows.  The four debts referred to here are personal, corporate, city and state and federal.  All of them feel as though they are beginning to come home to roost and the outlook, if not faced and dealt with, …