It seems apropos that the 80s icon for disaster is returning for a series of MasterCard commercials, because the market is of the opinion that things are going to get worse. Crude oil imports pushed up the U.S. trade deficit to it highest level in 13 months. The market is jittery over the implication that the Fed is preparing for an interest rate hike to combat inflation. Consumers are jittery over the possibility of gas rationing. At least the oil companies will get off the Senate's hook, thanks the GOP. Apparently voter outrage wasn't enough to break a Republican filibuster or get an alternative energy tax break extension passed. And the candidates have started slugging it out over how to fix the broken economy. So as Economic Cloverfield continues to spool out, expect that Americans will continue to shout 'Oh Nooo!' at gas pumps and checkout counters until Congress actually gets something of substance done.As if.
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