This is my first posting, so let's get started. We have talked about the U.S. economy on different threads on here, so I figured why not start a blog. Oil: Will it hit $100 a barrel? That's is no longer a question because it is reality. The next question is will it hit $110? What is this going to do for our economy? Let's start by companies are going to see their revenue strongly decease, which will scare the investors in the stock market, which is going to eventually bring the bears in. The dollar is declining with no stop in the future. It seems that the Fed (who's job is to ensure that the dollar is strong) doesn't care about it, along with the rest of the government because they think it will help the industries, and the bad housing market. While this is essentially true for exports, as I said earlier it doesn't help where the price of oil is. The housing market will not recover anytime soon, so a another rate cut is useless. The housing market will recover within a years time (actually around late January, early February 2009). The market is looking for another rate cut...so the investors can continue to make more money. If Bernanke cuts again it will put our economy into gauranteed bankruptcy, and would take us about three, to five years to recover. In the meantime enjoy the high price of gas, and everything that goes with it, and kiss America (as we used to know it) goodbye.