 | Cyclone Gonu Thread 1 | The Oil Drum | Cyclone Gonu Thread 2-Muscat and Bandar Abbas now in the projected path of Gonu (updated at 8p EDT) |  |
62 comments on DrumBeat: June 4, 2007
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62 comments on DrumBeat: June 4, 2007
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Your average American citizen, who at beast is naive, at worst is an idiot, does not understand currency depreciation. All he sees is that the "greedy oil companies" have doubled the price of gas in the past 5+ years.
Even CNBC and the so-called "economists" have no idea what the actual, classical definition of inflation is - an increase in the money supply. Most think that if prices are rising then that is causing inflation. In fact, rising prices are symptoms of inflation.
Come Quasi, come...