The Oil Drum: Australia/New Zealand | The Bullroarer

13 comments on The Bullroarer - Thursday 4th September 2008

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Cretaceous on September 4, 2008 - 9:54am

Here's an idea for lower fuel prices - let's just invade a country with lots of oil!

....Oh, we already did that, and fuel prices went up, eh? ....Hmmmm...

OK , if invading makes the price go up, let's try *withdrawing* from a country with lots of oil...

(Seems to be working so far! - We folded our flag up in Iraq in early June and the price has been plummeting ever since...)

;-)

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Kiashu on September 4, 2008 - 10:06pm

Saw an amusing bit on the news last night. The CommSec person was saying, "well the Aussie dollar dropped a bit, mainly because we'd forecasted a $100 million trade surplus for the month, but got a $700 million trade deficit instead, but that's okay because if you take out oil, then we're doing alright in trade!"

Um... but if we took out oil, then we'd have less exports, too, because how would we make and ship them? Only a trained economist could come up with such nonsense.

"If we take labour out of the costs of our company, it's doing really well!"
"But with no labourers, we produce nothing, and sell nothing..."
"So?"
"..."

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Phil Hart on September 5, 2008 - 12:20am

damn i love economists..

As for a "gradual recovery aided by a fall in oil prices" Trichet could not possibly be more off base. Falling oil prices are a result of a slowing world economy. Trichet's statement can roughly be translated to "the economy will pick up because the economy is slowing".

thanks to Mish.. http://globaleconomicanalysis.blogspot.com/

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