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On the Morning Toob - A Stupid Question and an Ignorant Answer
December 26th 2008 Dumbasses, Markets, Energy

Local Fox news-boobs entertain the hard-hitting question: “Low gas prices - bad for the economy?”

Local news-boobs decide, “Yes, low gas prices are bad for the economy.”

Why?

Because it means the economy is weak. As if the spike to $140-$150 per barrel reflected actual global demand.

Actually, lower prices per se aren’t bad for the economy. Because the economy is bad, demand has fallen somewhat. However, oil prices have not reflected actual demand for some time now. The drop is a return to reality, not an escape from it.

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-Bill Quick







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