Monday, March 24, 2008

Connecting all the dots: Economy a victim of war

All the polls show that economic problems have surpassed the Iraq war as the top concern among Democrats and Republicans alike. But no candidate has yet connected the dots to show the direct causal links between that war and our myriad economic woes.

Such a lesson just might help reshape our priorities.

First, take the high price of oil. It was $25 per barrel right before the war, with gasoline at about $1.50 a gallon. Now oil hits $110 per barrel and gasoline approaches $4.

When oil goes up it boosts the price of every other product that requires transportation—notably food and otheressentials. That's called an "inflationary pressure."

Read Complete Story

No comments: