Tuesday, May 13, 2008

Thomas Sowell and Gasoline Prices

Please stand for this month's reading from The Gospel According To Saint Thomas....

Economist Thomas Sowell, the smartest man in the world now that Milton Friedman is dead, has proclaimed that rising fuel prices are due to supply and demand, mostly increased demand from China and India.

Therefore, there is no need to create a complex melodrama complete with heroic congressional investigators and villainous oil company executives.

In his latest epistle, Saint Thomas also accuses Senators Obama and McCain of straying too far from The Church Of Free Market Orthodoxy, but he did not appear to be speaking Ex Cathedra on that particular issue.

As future ministers of The Church Of FMO develop an internally consistent theology, the Obama/McCain mistake will perhaps be known as The Pelosian Heresy.

The Church Of FMO will soon visit both the Obama and McCain campaigns, and both candidates will be shown the Tools of The Inquisition. Obama will probably recant. McCain has seen worse.

High fuel prices will be with us for a long time.

The man has spoken.

Thus endeth the reading from The Gospel According To Saint Thomas.

You may be seated.


Anton said...

ALSO, gasoline being a foreign commodity, as the dollar depreciates, fuel prices rise. The Euro for example has risen at least 60% vs. The dollar in the last year or two.

The Whited Sepulchre said...

And that's not a matter of forced currency exchange rates either (like we're seeing in China). That's a matter of dollars being devalued because we aren't saving enough of them to meet our future giveaways. Excuse me, our future commitments.