It's (not) all right now....
Saw in today's Wall Street Journal, a list of the 50 top problems that have been blamed on rising oil prices. Apart from the obvious, the more interesting were:
7. Pizza delivery charges are rising. (Pacific Business News)
8. Kangaroo harvesters are seeking alternative careers. (Australian Broadcasting Corp.)
15. Community colleges are cutting Friday classes. (USA Today)
18. NASCAR teams are spending more–and fretting about whether crowds will avoid traveling to races. (Sacramento Bee)
29. From the ever-insightful Chicago Tribune, Commuters are changing their ways.
34. Japan girds for a sashimi shortage. (AFP)
43. The French navy decided to cancel some exercises. (AP) (Mais non! It is too expensive to cruise to the gym today.)
posted by New England Guy @ 12:32 PM
5 Comments:
Numbers 15, 18 and 43 are good things.
There's an interesting point made in one of the editorials in Car&Driver this month: while the price of oil has quadrupled over the past 10 years in dollarsit has only doubled in euros. So literally half the problem is economic decisions that have so badly weakened our currency.
So what economic decisions could America have made that would have not "badly weakened our currency"? I can guarantee gas prices would be lower now if the Democrats hadn't blocked more drilling not that long ago, but there's not a single obvious decision that could have been made in the past decade that would be guaranteed to make the dollar stronger.
Shrug. It's a car magazine -- he didn't offer much in the way of monetary policy analysis. But the first thing that comes to mind that he likely meant is deficit spending by our government funded primarily by borrowing from China and Japan.
True believers tend to die hard deaths
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