Where, oh where is the outrage?
Thursday, October 18th, 2007Another example of economic short-term memory.
Crude prices are continuing upward, as today Nymex Crude closed just shy of $90 per barrel. But in contrast to previous spikes, we’re not hearing the political sounding board in Washington cry for windfall profits taxes, and the talking heads are not aghast with news of gasoline shortages…
Oil is up 8% just in the few weeks since the Fed cut interest rates to bail us out of the credit crisis, and in the process fueled one of the strongest commodities (pardon the pun) we’ve seen in a long time as the thought of a higher …
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