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B4 The Bell, Tuezelday, June 1


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The cost of gas is killing the consumer...right here, right now.  They HAVE TO stuff the Ten Year Yield back down to the bottom of the channel.  Can they?

Not in California.

 

This weekend, I've never seen so many brand new trucks pulling toy trailers.

 

Also, a record number of RV's stacked with bicycles, watercraft, some towing another car behind it.

 

People are completely unfazed by high oil prices.

 

I doubt they will make a dent until oil gets over $50.

 

Way too many 24-year old kids at the motocross track this weekend with their brand new Ford F-350 crew cabs with $10,000 lift kits and $3,000 wheels and tires.

 

And most of these were equipped with DVD players, custom stereos, etc.

 

And never mind the top of the line $7,000 motorcycle and $900 in riding gear.....

 

I spoke with at least 20 of these guys yesterday. Not one comment on gas prices. ....

 

It was surreal...

It makes a big difference whether you are buying fuel on credit or are paying cash.

Depending on your credit card terms (0-1% monthly finance charge and 2-3% of outstanding balance as the minimum monthly payment) you are only paying a nickel to a dime a gallon :shocked (on a cash flow basis) if gas is at $2.50 on the pump. Andanudderting, credit doolars are not subject to income taxes before you spend them. The real problem is with all of the aspiring soap opera stars working as valets, pool guys, table help, office assistants, gardeners, big box store associates, .... They are already maxed out on their credit cards and must pay cash :cry:

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ISM noise. http://quote.bloomberg.com/apps/news?pid=1...z3dw&refer=home

 

A gauge of U.S. manufacturing unexpectedly rose last month, approaching a two-decade high, an industry report showed. More factories were hiring than at any time in 31 years.

 

The Institute for Supply Management's factory index for May increased to 62.8 from 62.4 for April. A reading greater than 50 signals expansion. The index reached 63.6 in January, the highest since December 1983, and has been greater than 60 for seven months. An index of prices paid for raw materials declined.

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