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Admin
A trader in the business just passed along the following observation from another buysider in the business.
When the government passed the economic stimulus act a couple of months ago, oil was at $93 per barrell. Well today, as the checks go out, it's at $132. That's a 42% increase.
Amazing. It takes me back to my Economics 101 days when my professor said something to the effect that monetary policy is always and everywhere an inflationary phenomenon.
OPEC is reminding us, with uncanny precision, that there are no free lunches. Oil wants us to spend our "stimulus" on oil, I guess, whether we want to or not.
Amazing.
When the government passed the economic stimulus act a couple of months ago, oil was at $93 per barrell. Well today, as the checks go out, it's at $132. That's a 42% increase.
Amazing. It takes me back to my Economics 101 days when my professor said something to the effect that monetary policy is always and everywhere an inflationary phenomenon.
OPEC is reminding us, with uncanny precision, that there are no free lunches. Oil wants us to spend our "stimulus" on oil, I guess, whether we want to or not.
Amazing.