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Disturbing but likely logic
Posted by Heading Out on March 24, 2005 - 10:12pm
The MSNBC story last week that opened with the headline that "OPEC says it has lost control of oil prices" had a nasty, but likely realistic, quote at the bottom of the article:
Though U.S. economy has yet to show signs of slowing and inflation remains low, a continued rise in oil prices will eventually slow growth, analysts say.Marshal Adkins is an oil industry analyst. It will only be by these cuts in demand that we can get back into balance. Ouch!
"We will find the price level that will slow demand," said Adkins. "It may be $60; it may be $100. I think it's fair to say its going to be in that price band."
“The aim of every political constitution is, or ought to be, first to obtain for rulers men who possess most wisdom to discern, and most virtue to pursue, the common good of the society; and in the next place, to take the most effectual precautions for keeping them virtuous whilst they continue to hold their public trust.”
—James Madison, FEDERALIST #57 (1787)
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