Tuesday, September 19, 2006

Impressive Reticence To Take Unjustified Credit

Remember all those Democrat claims that high gas prices were the fault of the Bush Administration?

Well, of course, gas prices have been falling substantially for weeks, but no one is giving credit to the Administration.

Except in a very few, limited circumstances, it is abundantly clear that no Administration can have much influence on gas prices, so Democrat attacks were --- as usual --- demogoguery.

I'm fairly impressed, though, that no Republican of whom I am aware has attempted to take credit for the recent good news on the issue. To do so would be bad economics, even if it were arguably good politics.

I guess it's the difference between those who understand markets, and those who don't


Anonymous said...

Hey James, It's Abe.

Actually gas prices sky-rocketed because the number of petro-dollars spiked in accordance with the FED sump-pumping so much money and credit into the economy, that they ceased publishing M3s, as of recent.

Also, it must never be forgotten that here-and-now gas prices are a result of speculative markets for oil, not a reflection of total known capacity.

Virginia Centrist said...

"Remember all those Democrat claims that high gas prices were the fault of the Bush Administration?"

Not me!

James Young said...

One of those last vestiges that allows you to lay claim to the title "centrist," VC! ;-)

Beware anyone offering you Kool-Aid, lest you lose even this modicum of common sense.