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Politics : Ask Michael Burke

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To: BGR who wrote (73434)	1/13/2000 12:48:00 PM
From: Tommaso	Read Replies (1) of 132070

I don't see how the PPI can stay "tame" much longer with oil prices headed on up [there was a temporary misprint on CNN commodities showing them almost at $30--edited change]. There hasn't even been much cold weather this winter to affect inventories. But given the current figure, comparable to the better times of the 1950s and 1960s, a bond rate of under 5% would seem appropriate. The US would be hit much harder by really high oil prices than any other countries--since, as we all know, the tax component of gasoline is several times that of the US in most countries. So a 100% rise in gasoline prices here would be only a 25% rise in England. Imagine the effect of seeing regular gasoline at $2.50 at the pump. I admit that as the owner of a 40 mpg Tercel I would have a secret schadenfreude festival.

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