How are things going in our economy? Well, we could be off to a recession. I thought this CBS News MoneyWatch segment pretty much summed up how we started the year off as an economy:

In classic oil style, just as we were getting worked up into a frenzy about the price of oil, it has dropped, easing fear of $100 oil. This is good news, since it will leave a little extra money in your pocket for holiday shopping. But it is important to note that oil prices hovering around $90 a barrel are not likely to last.
Maybe look for some alternative energy investments to diversify your portfolio. They’ve been doing well, some of them, but with oil prices back down, the fervor over funding alternatives to the “black gold” will subside. Meaning you …read more

If you are a commodities investor, $100 oil may seem like a dream to you. Well, as long as you are making enough to offset the other costs. And if you are a successful investor, you probably are. But what about those of use who don’t invest in oil? Many people don’t, for whatever reason (my reasons are environmental and ethical).
Well here are some ways that $100 oil may affect you:

Higher gas prices (CNN Money reports that we might see them closer to $4 a gallon by next spring)
Heating prices this winter
Higher airfares, as airlines boost prices to cover fuel …read more