Wednesday, February 08, 2006

Long Range Economic Indicators Are All Pointing To Disaster

By Elaine Meinel Supkis
Despite all the economic pundits pretending oil has little to do with prosperity or stocks, the DOW went up today based entirely and only on the news that oil is slightly cheaper than in December. Alas, this is due to a 44% hike in imported oil! The graph above clearly shows how, after the first oil crisis, when Reagan started tax cutting when oil prices soared, our collective economic good health has deteriorated in dangerous ways, making our country vulnerable to foreign powers as our economy dies.