![](\"http:\/\/cyber.law.harvard.edu\/blogs\/static\/dowbrigade\/bushtriumph.jpg\")
Those of us who fancy ourselves part-time pundits
\n can sometimes become so downcast and upset over the senseless violence,
\n moral bankruptcy, blatant lies, cruel hypocrisy and doomed hedonism of
\n our times, that we are blinded to the truly miraculous stories that are
\n all around us.<\/p>\n
For example, everything we learned about economics,
\n both as an undergrad in the People’s Republic of Cambridge and in graduate
\n school in the heart of the current Neo-con conspiracy, Austin, Texas, tells us
\n our economy should be in deep do do. Petroleum, the motor of our economy,
\n has burst through the roof.<\/p>\n
A barrel of oil, according to the DOE<\/a>, Now, oil does much more than run our automobiles and So the economy must be in an incredible tailspin, right? They tell us a miracle has occurred! The explosion of Never mind that bankruptcies are at an all-time high, Another thing. Every time we go to the supermarket, But, according to the Federal It’s enough to convince even the most cynical skeptic It’s simply incredible.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":" Those of us who fancy ourselves part-time pundits can sometimes become so downcast and upset over the senseless violence, moral bankruptcy, blatant lies, cruel hypocrisy and doomed hedonism of our times, that we are blinded to the truly miraculous stories … Continue reading
\n cost on average $11.91 in 1998. Today we closed at $67.30<\/a> That’s
\n a tidy 567% run up in the past 7 years.<\/p>\n
\n heat our homes. It is used to run factories, public installations,
\n the military, generate electricity and move each and every product, food
\n item, letter and package from sender to receiver and provider to consumer.
\n The price of oil is a component of the price of every single product
\n we consume, as well as being an important raw material for the pharmaceutical,
\n plastics and agronomic industries.<\/p>\n
\n Companies must be losing money right and left, the prices for fuel intensive
\n services like airfares should be doubling and tripling, and the overall
\n economy should be sputtering and stalling. Not according to the President’s
\n economic advisors.<\/p>\n
\n oil prices isn’t slowing down the economy! In fact, it is growing, the
\n recovery is strengthening, the consumers are still spending. Our economy is impervious
\n to the laws of economics!<\/p>\n
\n that thousands of people are turning out to apply for a few dozen jobs,
\n that the country has a negative saving rate, and that personal (apart
\n from mortgages) debt is over $18,700 for every family in the United States.
\n Forget the record deficits in the balance of trade and the Federal budget,
\n and
\n the mounting national debt. Corporate earnings are up! The Dow Jones
\n Industrial is near post-9\/11 highs. Unemployment is low! Life is good.
\n It’s a miracle!<\/p>\n
\n we can’t help but notice that it seems<\/em> that the prices are going up,
\n up, up. Hillshire Ham used to be $4.99 and now it costs $7.99. Last summer
\n lobster was $7.99 and this summer they are $10.99. The co-pay on
\n our health plan just went from $10 to $15. Our car insurance goes up
\n every year despite the fact that the white whale is one year older. Tuition
\n keeps jumping, and so does the cable bill. We stopped being able to afford
\n Red Sox or Celtics tickets two or three seasons ago. Joe the barber in
\n Harvard Square just jumped from $11 to $14.<\/p>\n
\n Government<\/a>, inflation
\n is less than 3% per year! It’s incredible! It’s another miracle! We
\n suppose all those increases in food, gas and housing are balanced by
\n decreases in high tech gear and telecommunications. Actually, our last
\n computer cost more than our previous one, and so did our current TV,
\n and now that we think about it, our phone, internet and cable bills keep
\n going up. But we must be the exception to the rule.<\/p>\n
\n that the good Lord is indeed watching out for the good old USA,
\n and we are blessed and chosen to bring capitalist enlightenment to the
\n rest of the world. The old rules don’t apply to us, obviously,
\n and everyone else is just going to have to get used to it. <\/p>\n