Meanwhile the impact on the economy has been negligible, at least so far. And the Fed has prevented oil inflation from spreading to the rest of the economy. So much so that I think they should quit raising rates while they're ahead.I can't get too worked up about the price of gasoline. Not yet. It's really a TeeVee news story, like a hurricane or a missing blonde white girl. I haven't been driving forever, and, of course I make more money now than in 1984, but I don't think I'm alone in realizing it's just a number, and not the punitive bite Katie Couric wants you to think it is.
25 August 2005
Markets Will Work If You Let Them
I miss Larry Kudlow in prime time: