Posted by: Nathan M. | January 13, 2009


clipped from

Oil back under $38 US a barrel
Oil prices fell below $38 US a barrel briefly on Monday with analysts pointing to expected weak U.S. business earnings reports as the reason.
“Given that we’re likely to see quite a few rather poor fourth-quarter earnings reports, downward pressure will continue to be exerted on oil,” said Victor Shum, an energy analyst with consulting firm Purvin & Gertz in Singapore. “Worries about the macroeconomic outlook will continue to constrain oil.”
On Friday, the U.S. government said the economy shed 524,000 jobs in December, pushing the U.S. jobless rate to 7.2 per cent, the highest point since 1993. In Canada, 34,400 jobs were lost in December, with a drop of 70,700 full-time jobs partially offset by a rise in the number of people working part-time.
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Things are getting worse. I know, more doom-and-gloom, it seems that is generally what this blog is about these days, but there isn’t all that much to smile about. I must admit, I am a little bit fearful right now. Yes…you say “that’s how they want you!” Go back to Marxism here and say that it’s simply a bourgeois way of suppressing the masses…fear-mongering. But, the fact is, the economy is not doing well, and Canada is seeing more and more damage done. I happen to be a student…one with a significant amount of debt on my shoulders, and this debt is growing every year that I go to school. As the economy slips, the chances that I will be able to find a good job are becoming fewer and fewer. And, with a government that believes in spending as little money as possible, I have no real reason to feel any more optimistic about things. Of course, I shouldn’t really be surprised about all of this; economic turmoil is predicted in the Bible, and is placed in almost inevitability, but that doesn’t mean that we should embrace it and not do anything to prevent it. Tommy Douglas, one of the greatest politicians ever in Canadian history, was a strong believer in God, and this is why he believed in taking care of the poor, taking care of everybody in fact. I thought that was what this country was about! Of course, my generation can only remember the days of socialism-the welfare state as it is somewhat derisively called now. But, the fact remains that Canada has potential to take care of people. I pray that somehow Canada would remember that and come back to their roots-their great purpose.

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