I sometimes wish I had a time machine, don’t we all. You could just hop in and fly back however far you wanted and correct all the mistakes you make, opportunities you missed, and figure out what happened to all those missing socks from the dryer. Yes, but alas we cannot. I was talking to my good buddy Neil Cavuto last night. He had just finished talking with Ron Paul about the latest bailout, the auto industry. He was pissed.

I mean, so am I. Look enough is enough. These companies were managed poorly before the economic debacle so why give them any money at all. sure we need the workers to keep their jobs but not necessarily the Mgmt. I mean $25 billion is a lot of money, if they want it then they should quit. I gotta tell ya, if it was me lending $5000 to a friend I would put some stipulations on it, like how he would pay it back, what it was for exaxctly, etc. Yet this money just gets handed over gratis. It’s crazy. So then Neil talked to me about oil and why $60 oil is bad, he thinks it could go to $10 and a return to the 1980′s. Not me.

If it were to do that we will be setting ourselves up for $300 oil in only a few years. Instead of not drilling now we should be even more aggressive. Anyway, you can watch the interview here.

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Crude Oil Rises in New York, Rebounding From Below $60 a Barrel

By Christian Schmollinger
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Nov. 7 (Bloomberg) — Crude oil rose, rebounding from below $60 a barrel in New York, on concern prices may have fallen too far, too fast.

Oil for December delivery climbed as much as 53 cents, or 0.9 percent, to $61.30 a barrel on the New York Mercantile Exchange. It traded at $61.12 a barrel at 10:41 a.m. Singapore time.

The contract earlier fell to $59.97 a barrel, the lowest since March 22, 2007.