High Oil Prices, Inflation and Stagflation
Posted in business, economy, government, tagged business, cost, food, inflation, oil prices, producer price index, slowdown, stagflation on March 10, 2008 | 3 Comments »
What is it with high oil prices? The economic sages say that what really matters is the average price the refineries had to pay for the whole month. Fair enough. Back in 1980, the oil market bore a price of $38 a barrel. Then the sages work their magic. They quickly seek to justify a [...]
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