Who really knows what is going on in today's U.S. economy?
From one of our Gals.
I watched the video but haven't listened yet to the audio. Its all quite confusing and I feel that the rich are definitely getting richer. Remember, this is just one side of the story.
High oil prices are a scam. The marginal cost of producing a barrel of oil is about $50. (In other words, that's the cost of the most expensive next barrel. Most cost much less to produce.) Of course, it's good to cut back on consumption. But in the meantime, everybody is getting screwed, and the very rich are getting richer.
I watched the video but haven't listened yet to the audio. Its all quite confusing and I feel that the rich are definitely getting richer. Remember, this is just one side of the story.
High oil prices are a scam. The marginal cost of producing a barrel of oil is about $50. (In other words, that's the cost of the most expensive next barrel. Most cost much less to produce.) Of course, it's good to cut back on consumption. But in the meantime, everybody is getting screwed, and the very rich are getting richer.
Here's
an MSNBC
video that explains why:
For
a more thoughtful explanation of what is going on (including the breakdown in
the credit market) here is a longer NPR audio program:
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