As for the Oscars....

As for the Oscars, if Al Gore is your highlight than you’re in big trouble. The market got Greenspaned today with the former FED chairs apparently still looking for his Oscar gave mention of the possibility of a recession and the fact that oil prices have moved high and look to go higher till April. I am not sure you can draw parallels to the early 1990’s recession as Dr. Greenspan is and the real-estate bust of that time. The consumer just has too many refi options, interest rates are still very low and the economy is booming. You also have to remember that the 1980’s saw the introduction of mass credit thru the spread of credit cards, leading to the huge retail boom of the 1980’s and the subsequent retail bust of the early 1990’s. Yes there could be pain but not as wide spread or as servere.I still don’t buy the inflation jitters either oil prices are going up due to the winter storms that are coinciding with the transition from fuel oil to gasoline and the refinery shut downs that precede this change this time of year