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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Tim Bagwell who wrote (21942)3/17/2005 8:55:56 PM
From: Kirk ©  Read Replies (1) of 42834
 
Thanks for the summary.

"His take on the oil situation is that higher oil prices are actually anti-inflationary since they take money out of the economy which slows the growth rate."

He's actually said higher oil acts as a tax on the economy for years and years. I agree and he is not alone in this belief either. Ed Hyman, on Rukyser's show, had some equation for economic growth that was something like $10 represents 1% change in GDP growth. That Steve Leisman(SP?) economist on CNBC the other day actually wrote a formula on a whiteboard to show how higher oil relates to GDP growth which was pretty similar to Ed's simple numbers. Lakshman from ECRI was on TV today saying higher priced oil would only throw us into a recession if the economy was "vulnerable" and he thinks it is not vulnerable today.
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