2) The Dollar is still losing value
3) Therefore, the cost of oil in Dollars goes up, even if the value of oil remains constant.
Whew, that was hard.
Is oil only climbing as fast as the dollar value is sinking? Or has it climbed faster and the dollar value is compounding the problem?
“Why Are Oil Prices So High?”
2 reasons:
1) George Bush
2) Haliburton
I thought everyone knew that.....geesh!
LOL...thanks, Yo-Yo...
Depend on an Air Force guy to boil it down for us economic philistines...:)
>>1) Oil is priced in Dollars.
2) The Dollar is still losing value
3) Therefore, the cost of oil in Dollars goes up, even if the value of oil remains constant.<<
Yup. That’s my take as well. It is simple inlfation at work. I suspect that is also part of the reason for the current stock prices.
The only non-catastrophic way out of the housing/credit bubble is to monetize the whole thing through inflation. It is apparently happening as we speak.