|ECONOMY IN RECOVERY? NOT SO FAST|
Aruba, February 24, 2012 - Employers are hiring, manufacturing is revving up and stocks are rallying. It looks like the recovery could finally be taking hold. Sound familiar?
By June, even Federal Reserve Chairman Ben Bernanke was admitting the economy was hitting a "soft patch." Are we finally on the path to a sustained recovery, or will it peter out all over again in 2012? The answer all depends on a few key challenges: Tension with Iran poses perhaps the greatest risk to not just the U.S. economy, but the world. About 20 percent of the world's oil passes through the Strait of Hormuz, and Iran's threat to close the critical shipping lane has recently driven a rise in oil prices.
Add recently improving economic data -- which often leads oil speculators to forecast greater demand for fuel -- and lower supply and higher demand are a recipe for a potential spike in gas prices this spring.
Source/read more: http://www.ktbs.com/money/30514041/detail.html