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Politicians and the economy

My friend Brian has a rather illustrative commentary on the relationship our leading politicians have with the economy.

I urge you to head over and read for yourselves, but here is a quick summary.

When President Bush lifted the executive ban on off-shore drilling a month ago, he was soundly scorched from the left for catering to the big oil. In fact, that entirely political gesture has arguably contributed to the drop in oil prices, because, as Brian posits, oil markets these days are driven by investor sentiment as much as, if not more than, consumer demand. In the ensuing tussle to find political advantage from this, neither of the two presidential candidates is distinguishing himself for recognizing what drives the markets.

As Brian says,

… when the guy who got it wrong changes course and then tells us he still thinks he got it right, and the guy who got it right seems to be unaware of why he was right in the first place, my confidence in both men drops significantly, as does my ability to trust their next, dire predictions about the world economy.

I second that.

Posted in Apropos