Tuesday, May 17, 2005

Every Pundit Last Quarter Said Energy Prices Didn't Matter

FINANCIAL NEWS

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I get the New Yorker Magazine. There was a long article about energy not causing inflation. It ended with the classic, "We are in a new paradim! The old ways have fallen!" Whenever one sees these fatal words what is happening is the triumph of propaganda over hard reallity. There is seldom a new paradim.

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