Politics is supposed to be the second oldest profession. I have come to realize that it bears a very close resemblance to the first.

- Ronald Reagan

The Sky is Falling

Yes, the sky is falling, again. The left is loving the drop in the equities markets, and demanding that Bush do “something” about the energy crisis. A bit of Clear Politics?

Oil prices are now falling. Let the market stay the course. Oil is overbought. Prices will drop. And as for the equities markets, there are many smiling right now, as often the time to buy is when everyone else is selling.

P.S. Remember Gray Davis? He negotiated long-term contracts at the peak of energy prices, all to help Californians. Panic never serves one well, and it sure didn’t help Gray, who was replaced by the governator.


posted at 12:53:44 on 04/18/05 by clearpolitics - Category: Economics - [Permalink]

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