Thursday, August 19, 2004

And to top it off . . .

More bad news. From The Agonist:

Stratfor - Iraqi Shiite sources say the Mehdi Army has launched several coordinated attacks on oil sector objects in the southern Iraq. After overrunning corporate Iraqi and Western security guards, militants blasted the southern pipelines and set several oil wells on fire in many places close to Basra and Al Amara. The sources added that Mehdi Army commanders say the attacks were done in response to Interim Iraqi Prime Minister Iyad Allawi's ultimatum of unconditional surrender and also in response to renewed bombing and attacks on An Najaf. The Mehdi Army threatens more attacks on Iraq's oil infrastructure soon.

Oh, and by the way:

Oil hit a new high of $48.60 today, aggravating recessionary fears further.

Fuck you very much. Oh, and 'amid these recessionary fears', how much you wanna bet the Fed raises interst rates another 25 basis points next meeting? Greenspan is getting senile. Good luck all you folks with adjustable rate mortgages. Let's see what Bush does when the bottom falls out the housing market.

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