The resulting rise in prices likely reflects a long-term trend, separate from the routine ups and downs that are traditional for oil and other commodities. That, in turn, means that prices could be rising faster than Americans’ incomes for some time to come.
You know the punchline: this is going to squeeze the hell out of the American middle-class, to say nothing of the poor. What I want to know: given that middle-class wages and purchasing power have been stagnating for over thirty years, why not at least bring that up in the story? In fact, why not do a WHOLE story on that? Why not do one every week until someone starts paying attention? We’re defending tax cuts for billionaire plutocrats while the middle class’ wages stay stagnant for thirty years? While protecting these historically-low tax rates, we’re moaning about getting our fiscal house in order? Are you out of your mind? Has the whole world gone crazy?!?
Man, I’m NOT a socialist, but sometimes I wonder if I should be.
2) Paul Krugman had a great piece on climate change (and the people who would deny its existence) in the April 3 New York Times. See, congressional Republicans held hearings on climate change, and they asked a bunch of layman to come and comment on the science behind it. They DID deign to ask a few climate-skeptic scientists, though, and one of them went rogue, admitting that the warming we’re seeing is real and man-made. It’s worth a read, if only for the great line at the end (from Upton Sinclair):
It’s difficult to get a man to understand something when his salary depends on his not understanding it.
3) Happy Birthday, Thomas Hobbes! Thanks for helping to found Modernity. No one I know has ever had—let alone died from—cholera. My individual choices are largely my own business. Natural law gets little purchase in modern politics. I LOVE it. Modernity>Classical World. (Hat tip: MLC)