Bye bye Obama and other assorted Donkeys! Enjoy your golf time next year!
So why is Maryland gasoline climbing to record levels?
The oil companies are evil. They see the demand for oil dropping, so instead of replenishing their stockpiles and increasing their supply as the Obama Administration expected them to do; they actually cut their supply in accordance with the demand. According to progressive economists everywhere, it was just unexpected™.
Though I didn’t post it, my original thought and comment mentioned quantitative easing, which devalued the dollar despite arguments that it wouldn’t (there’s that unexpected™ again). Unfortunately, I couldn’t find an easy link to explain it. See, the price of oil acts inversely to the strength of the dollar. But, one could point to the value of the USD to other currency and say, “the dollar isn’t weak!”. QE is occuring globally, not just the US Fed. So the value of all currencies are falling in relation to commodities (but don’t call it inflation and definitely don’t call it monetizing debt!). Anyway, here is more information.
Stagflation man!
Hey Glenn if you are reading this post, ask your readership when are we going to bring back the Misery Index? Who is hiding the misery index?
Seems to be driven by the Euro zone crisis and the harsh winter in Europe more then anything else. It also explains why gasoline prices are falling in northern Nevada, down 20 cents in two weeks.
Conflagrations across the mid-east with more expected, a DC regime doing everything in its power to obstruct domestic oil production or imports from friendly neighbors, it stands to reason oil prices are up. And high oil prices are one of the factors depressing the US economy. Add in umpteen other factors and it’s a wonder the economy hasn’t completely imploded yet.
Bye bye Obama and other assorted Donkeys! Enjoy your golf time next year!
So why is Maryland gasoline climbing to record levels?
The oil companies are evil. They see the demand for oil dropping, so instead of replenishing their stockpiles and increasing their supply as the Obama Administration expected them to do; they actually cut their supply in accordance with the demand. According to progressive economists everywhere, it was just unexpected™.
Though I didn’t post it, my original thought and comment mentioned quantitative easing, which devalued the dollar despite arguments that it wouldn’t (there’s that unexpected™ again). Unfortunately, I couldn’t find an easy link to explain it. See, the price of oil acts inversely to the strength of the dollar. But, one could point to the value of the USD to other currency and say, “the dollar isn’t weak!”. QE is occuring globally, not just the US Fed. So the value of all currencies are falling in relation to commodities (but don’t call it inflation and definitely don’t call it monetizing debt!). Anyway, here is more information.
Stagflation man!
Hey Glenn if you are reading this post, ask your readership when are we going to bring back the Misery Index? Who is hiding the misery index?
Seems to be driven by the Euro zone crisis and the harsh winter in Europe more then anything else. It also explains why gasoline prices are falling in northern Nevada, down 20 cents in two weeks.
Conflagrations across the mid-east with more expected, a DC regime doing everything in its power to obstruct domestic oil production or imports from friendly neighbors, it stands to reason oil prices are up. And high oil prices are one of the factors depressing the US economy. Add in umpteen other factors and it’s a wonder the economy hasn’t completely imploded yet.