"Oil fell from its highest price in more than a week on concern that last week’s 2.3% gain was optimistic, given the outlook for fuel demand." What nonsense. What happened Thursday and Friday was nothing more than profit taking ahead of a favored vacation week, a coming long holiday weekend and the approach of a time period of the highest percentage probability of hurricanes appearing.

Where did market participants get such optimism, from Friday's data? I don't think so. Certainly potential action by the Bank of Japan to weaken yen may be a possible reaction as well. In the final analysis though, what is going to effect the value of oil, yen, wheat, houses, cars, actually everything is going to be unemployment. The inability of policy makers is either acknowledgement that they are ignorant of this or have chosen to ignore it in the hope that their other efforts will indirectly influence job growth. Either way, it is a dangerous choice.  

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