[wildbill]

Of course I don’t know if he made any qualifying statements that other factors might’ve been in play—but this comes perilously close to the logical fallacy of Post Hoc Ergo Prompter Hoc where the rooster thinks his crowing every day causes the sun to rise.

[drpix]

It is not idiotic or loony to claim a causal relationship for a factor that did not merely correlate to a 2nd factor but clearly rose precipitously before the 2nd factor - when both factors were similarly crucial to consumer and business spending. (post 47.)

Whether or not so many should have be incapable of riding out that gas price rise is a seperate question than whether or not they in fact were. Whether the open gas can (over extended debt) or the match (gas prices) caused an explosion can itself become a circular arguement.

Intelligent people may debate it, but FReepers cannot be so idiotic/loony as to really think it can be dismissed with an insult.