Friday, July 4, 2008
Mort Kondracke is a pretty straight shooter, so when he discusses a subject, I tend to listen (or read) very carefully. He has an article on Realclearpolitics which gets it largely right in discussing the high price of oil, though he too misses one major cause--the collapse of the U.S. Dollar: http://www.realclearpolitics.com/articles/2008/07/whos_to_blame_for_4_gas_both_d.html. For the record, I lay that collapse (of the dollar) largely at the feet of President Bush and a seemingly clueless Federal Reserve. Their collective mismanagement has resulted in an economy which is far from healthy (though I'm not prepared to scream that the sky is falling, as the MSM would have use believe).