Interesting: in today’s Washington Post business section, there’s a story headlined thus:
Greenspan Minimizes Impact of Costly Oil
Many Economists Remain Concerned
By Nell Henderson
Federal Reserve Chairman Alan Greenspan said yesterday that higher oil prices have had a “noticeable” effect on the U.S. economy this year but are not likely to cause serious damage unless they move significantly higher.
That’s followed by:
High Gas Prices Force Lifestyle Changes
Workers Try More Hours, Closer Jobs, Frugality to Defray Costs
By Bill Brubaker and Dina ElBoghdady
Pat Kiser is 68 and she has no plans to retire. But yesterday she quit her job as receptionist at the Loudoun County Chamber of Commerce in Leesburg.
I’d say that the second story negates the first, wouldn’t you?