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22 August 2005

Nominal vs. Real News

George Will goes further regarding my previous post. Our economy is doing extremely well by any measure, and being George Will, he measures.

http://www.msnbc.msn.com/id/9022907/site/newsweek/

A couple of salient highlights: We spend less of our incomes on energy than in the past, and oil and gas prices are not near a record in real dollars. The one place we are at record levels is in energy efficiency.

Now, to be clear, my point is not a rah-rah USA kind of thing. Rather, it is to ask the reader to understand successes and failures empirically.

22 August 2005 at 05:07 PM |

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