Speculators calculated that the US economy is in shambles. As results, they pushed down the price of oil today by more than four dollars to close at $98.48 a barrel. The pessimism spread after it was reported that the economy in April added less jobs than what Bush 41 added in April 1992 before he lost the election later that year presumably due to the weak economy.
The Unemployment Rate held steady in April 1992 at 7.4%, versus 8.1% in April 2012. In the April of twenty years ago with a much smaller population, the Employment Level increased by 285,000, but went down 173,000 last month.