Foreign Affairs Discussion Group Message Board

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Politics : Foreign Affairs Discussion Group

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To: epicure who wrote (135106)	5/31/2004 3:46:22 PM
From: carranza2	Read Replies (1) of 281500

Good on you, X, for posting that link! Now ya talkin'. I frankly believe that we have a hidden inflation factor which does not show up on the official statistics. Inflation is going to get worse as the costs associated with higher oil prices weave themselves into the economy. The Economist article suggested that about $8 of the current price of oil can be said to constitute the "terror premium," i.e., the higher amount that oil costs because of insurance, increased security costs, and the general notion that we ought to pay more for things that may be more scarce in the future. Thus, a valid case can be made for the proposition that without lifting a finger, by simply being a threat, the terrorists have already succeeded in hurting us economically. Unlike you, I think it is very unwise to keep the two issues--terror and the economy--separate, and to assign different relative levels of importance to them. They both feed and affect each other. It really is a fascinating isssue.

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