Our hearts go out to all of the hurricane victims. We pray for those who have lost loved ones, their homes, and at least temporarily, their everday lives. We've had far too many reminders in the past several years just how fragile life is.
Gas Price Optimism
Your Cheap Stocks editor was surprised to see regular gas selling for $3.29 this morning on his way to work,(yes, I do have a real full-time job, as much as I'd like to give Cheap Stocks my full-time attention, but so far no one has offered to pay for the content, and I have several mouths to feed!) at the same station, that just 12 hours earlier was selling it for $2.79. Unbelievable.
But unlike many other pundits I've heard waxing eloquently on the subject, I believe this is a very short-term phenomenon. The longer term outlook (next 20 years) may be a different story as far as oil is concerned, but this is not time to panic. Tell that to Ed Rendell, our esteemed governor, who apparently has mentioned gas rationing in our great state of Pennsylvania. Way to go Ed. Want to create a panic? A run on gas stations? Hoarding? Keep talking.