If the whole echoes-of the Great-Depression, who-took-the-capital-out-of capitalism thing is catching your attention, continue reading here. It's hard to believe the meltdown going on south of the 49th parallel, except when you stop and consider how long the system has been corrupt.
Consider the scenario of the last few weeks:
1. We are continually being told that high oil prices are a result of "supply and demand."
2. A major hurricane invades the U.S. refinery coast (Gulf Coast, sorry) and the price of gas jumps. Fine.
3. The week after historic and prestigious banks seek bankruptcy protection, the price of oil goes back down. The justification is, 'we need to keep the economy growing."
So, which is it? Is the price of oil controlled by psychological reasoning (ie. what is supposedly 'good' for the economy) or is it actually controlled by supply and demand?
Answers, please, because this rational economy is looking more schizophrenic every day.
1 comment:
Glad to see you've come around to Kunstlerism!
He's also an acerbic urban design critic; check out his "Eyesore of the Month" archive-- http://www.kunstler.com/eyesore.html
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