Cottoning On — II
August 11, 2011 § Leave a comment
H/t: oilprice blogger we see a tad of overstatement for starters and then how he in fact has cottoned on to what we’ve been saying for a little while now in the West ie commodity prices ups when all else is static amounts to corporate tax increases upon consumers. The shorter way of saying OP’s piece as follows…
There is something else important that no one is focusing on. The 25% crash in the price of oil from $100 a barrel equates to one of the largest tax cuts in history for consumers. Each dollar decline in the price of gasoline adds $10 billion a month to the purchasing power of American consumers, and $40 billion a month to consumers globally. You can make the same argument for other commodities as well, which have all suffered enormous declines. [ my emphasis ]
How about milk for kiwis in kiwi country production, which to my reckoning has not gone down any, or is this a rude question..?