Wednesday, May 21, 2008

More awl

It hit $133/bbl today, and I think edged up a bit more on after-hours trading. We went in to town today about 10:30 and gas was up a dime when we came back through Bloomington about 1:30. [Just noticed today that on the TxDOT sign in Bloomington indicating distances, both Port O'Connor and Seadrift are misspelled. Is that a Bloomington thing?] Back in the '80 election, we heard a lot about something called the Misery Index, the inflation rate added to the unemployment rate. It was around 20 when Carter was crushed in the election. Using Phillips's estimates from the previous post, the Misery Index now lies somewhere between 16 and 22. Hmmmmmmm ...

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