Welcome back. Thanks for joining me with this being the start of the 4th of July weekend. If you are traveling this holiday, I wish a safe and great trip.
I know they are forecasting few cars on the road this 4th because of the price of gasoline. Regular unleaded is now selling for $4.09/gal. down the street from me. Anyone need to take out a short term loan so they can afford to fill up their gas tank? The bad news is it looks like it is only going to get worse before it can get better if it ever does.
The speculators are saying crude oil could exceed $200 a barrel by the end of the year. With China adding 25,000 first time car owners to the gasoline demand, the few cutbacks we as Americans are doing is not going to influence the price of crude oil. We forget that we are only a small portion of the world population. Very soon we will fall from the highest consumer of crude oil to number three behind China and India. So it might turn out we will have to get use to the high price of gasoline and actively pursue alternative fuel methods such as biofuel or hybrids.
I spoke to Brittan again this morning and she ended up coming over the afternoon after she got off from work. We currently is working as a waitress at two different restaurants. She and Tito are planning a special July 4th so I hope everything turns out great for them. They are such a sweet young couple. I let her know I would be in town for the next two weeks since I have taken some time off to prepare for my meeting with Senator King in a couple of weeks. Lindsey and I will be meeting with the Senator on July 15th to discuss health care and financial security issues. There is the current Medicare proposals being voted on by the Senate and there is great need for discussion based on current voting. More about that soon.
Today was a short session for the American stock market. The New York Stock Exchange closed at at 1pm in observance of Independence Day tomorrow. While there was not the deterioration of market that I was expecting, the markets ended up almost even. The bad news is Europe decided to raise interest rates which make the value of the dollar decline again. Now some people are questioning why the Europeans did the interest hike but those are mainly Americans who are upset it devalued the dollar lower again. In turn, the made the price of crude oil once again close at an all time high over $145/barrel. The wholesale price of gasoline has now passed $3.87/gal. and the Gate station down the street is currently selling regular unleaded at $4.09/gal. So for those of you traveling by car this holiday weekend, you have my sympathy as you fill your gas tanks. But who knows how much higher it will be next year so it is probably a good thing to go ahead and take that trip. Imagine if gas is over $5.50 or $6.00/gal next summer. There are murmurs about that possibility if crude oil futures continue to trade higher as they have been.
It started storming late this afternoon with the storm front coming in from the west. The weather had been great although of course hot until the clouds rolled in with lightning and thunder. Sometimes it was hard to tell if it was thunder or some fireworks going off in the distance. With July the 4th being tomorrow, some have already started setting off their fireworks since a lot of people's holiday weekend has started. Unfortunately, Gary will have to work since he is making up some of the time he was gone to visit his mother in South Carolina. He and Rene are both working this weekend to keep the office going. Even though there is a recession, luckily their employer has not seen a slow down yet. But hopefully that means job security since I would not want to be looking for a job in this economic environment. Companies are looking to lower payroll not increase it.
Tonight, Gary made spaghetti with mushrooms and garlic bread for dinner. Neither of us were especially hungry since we were both tired after a long day. In fact, I forgot about a salad I have prepared and put in the refrigerator. After watching CNBC, we decided on So You Can Think You Can Dance. Tonight was the weekly results show were two of the dancers are voted off. Each week one guy and one girl are voted off. If they are in the bottom three as voted on by viewers, they have to dance for their lives during the show. Then the three judges decide who is staying and who is leaving the show. Then we watched the latest episode of Kathy Griffin My Life on the D List. We both enjoy Kathy's sense of humor and watch her show and specials regularly. She has a huge gay following.
Well tomorrow is the 4th of July. I wish you safe travel and a great day. Enjoy spending time with those special people in your life. See you at the fireworks!
Wishing you health, hope and happiness.
big bear hug,