Falling gas prices have recently created a huge demand-side boost to our economy. Millions and millions of dollars worth of boost: serious money. The increase comes from families having a few hundred extra bucks a year to spend on things other than filling their tanks. That is the free market in action, folks: consumers consuming, and by so doing creating jobs where they spend that additional money.
Classic, common-sense, evidence-based economics. People making additional purchases with the money they are saving because of lower pump prices. Demand-side economic stimulus via the private sector. Somewhere in the Afterlife, Adam Smith is shouting “See? SEE, motherf***ers? Who’s the man? I toldjaso!”
And none, repeat NONE of those falling petrol prices had Thing One to do with tax breaks for millionaires. No, oil prices are falling because of supply and demand. Once again, class, all together: “supply AND demand”. But of course, “republicans” don’t care about anything but the supply side. Because that side has all the friggin’ millionaires and billionaires that can (and do) buy Teapubbie Senators and Congresscritters.
This blog has ofttimes posted about the complete and utter failure of supply-side “economics”, and the laughable Laffer Curve that it is based upon. (Click the links, Gentle Reader, lots of supporting data to be found if you folllow the breadcrumbs.)
Once again, all of the Post-Reaganista bulls*** has been exposed, in all of its fetid, malodorous splendor. The American economy used to grow, before these dark days, because sensible adults recognized that all sides and strata of the economy are interrelated, and that we needed to manage supply and demand, the rich and the poor, and everything in between. But because of the Voodoo Wing of the “Republican” Party (and by that we mean, “the entire f***ing GOP”) focusing ONLY on the supply side, we have naught but deficts, crumbling edifices, and corruption all around us.
The positive economic effects of falling prices for the consumer prove, once again, that the Teapublican party is, as usual, completely full of s***. Almost as full of it as the idiot voters who voted for them, or failed to vote against them. But hey, enjoy the cheap gasoline while it lasts; until the Teapubbies find yet another way to steal those extra dollars away from us, and hand it back to their supply-side patrons.
Mr. Blunt and Cranky