John Stossel, you are the man! You hit the nail on the head every time. I don't know how you survive in the world of media that espouses dogma so contrary to your witty reporting, but keep it up. In the spirit of 'fairness', your exposés should be required daily viewing in all public schools and universities to provide counterpoints to the indoctrination of our children.
Hey everyone! You've got to check out John's report from last night's 20/20. It was fantastic!
Here's the link:
http://abcnews.go.com/2020/story?id=448934&page=1
4 comentarios:
I disagree, there has been plenty of information in the media that the price of gas is actually resonable when adjusted for inflation. Howevere perception is every thing and this econnomy is going to struggle with out access to cheap oil. Beware the media often tells you what you want to hear, that's what sells, John Stossel included.
David, thanks for taking the time to read and to comment. I appreciate the opportunity to think about issues more in depth and from a different prespective. As far as the media reports about gas increases using the inflation adjustment, I've heard a couple reports, but by in large, all we care about and all the gets reported is the dollars and cents increases without discussion of inflation.
You are right about the impact of expensive oil on the marketplace. If my reasoning based on my college ECON 110 is correct, this raising of gas prices is push inflation up. I am a purchasing manager for a home builder in Arizona and I get price increases from my suppliers regulary due to increased transportation costs. We pass that increase on to the home buyer when we can. My favorite thing to ask suppliers when they come to me with a price increase is: "Do you want to single-handedly be responsible for increasing inflation in our country?"
Generally most consumers only pay attention to the pice of a gallan of gas, and couldn't tell you the price of a barrel of oil. It isn't that the media left or right is perpetuating a myth, it's that we're living in a consumer society, not an information society, so in order to get noticed, mainstream media doesn't lay too many details on the feeble consumer mind.
Your observatons related to construction are interesting in that many econnomists believe it was the real estate buble that saved the econnomy through the last oil spike, by increasing consumer spending. Fears are that home equity has been taped out, and that the next oil spike should it happen will bring about recession.
This isn't going to end up in some huge debate like the last one, is it?
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