Published January 13, 2015
You're all sweating gasoline prices. Who wouldn't be? Oil over $70/barrel and gas prices over $3/gallon. That affects everyone but the most disconnected elitists. After all, if you're riding around in the back seat of the limo you don't see the gas gauge much.
On the "Today" show Friedman said the following:
"I hope the Iranians get as crazy as they want. My attitude toward the president of Iran is 'You go, girl,' because the faster we get to $100 a barrel, pal, the quicker we're going to get back to $20. Because when we go to $100/barrel, then you're going to see all these people change their behavior and their oil-buying habits and their car-buying habits in a fundamental way."
That's nice, huh?
As far as the media elite is concerned, evidently the quicker you are made to suffer for your evil oil-guzzling ways, the better off we'll all be.
Now Friedman probably knows exactly how much unemployment this will cause. He probably knows how many people will lose their homes. He probably knows how many kids won't be able to go to college. He probably knows something of the social unrest that could happen if the U.S. economy is hit with $100/barrel oil.
And since he's an international columnist, he probably also knows how many people in Third World countries who are now surviving because of the American consumer will end up jobless and back to eating dirt because of $100/barrel oil.
But evidently he doesn't care. For him, it's "You go, girl. Let's hit that $100/barrel mark."
It doesn't bother him because he's mad no one has been listening to him and his colleagues and since you have all ignored him, it's OK for you to suffer. Bring on that $100/barrel oil.
What does a little economic dislocation matter when the benefit is that, once again, the smart guys at The New York Times were proven right. That is by far the more important thing.
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