Daily Scold–World Business

In the June 15 NYT article “Surging Oil and Food Prices Threaten the World Economy, Finance Ministers Warn,”” we get a good look at the official American assessment of the causes behind the current crises:

The American Treasury secretary, Henry M. Paulson Jr., attributed higher oil prices to changes in supply and demand and a failure by oil-rich nations to build enough wells and refineries.

Oil Field of Dreams? Build them, the oil will spring forth eternal?

If that weren’t bad enough, take a look at the last lines:

At a news conference, Mr. Paulson brushed aside questions about intervention.
“A strong dollar is in our nation’s interest,” he said, adding that solid fundamentals in the American economy would eventually help the United States currency recover.

Am I missing something? What solid fundamentals in the US economy? The frugal ways of the American citizen–excuse me–consumer? The sound banking system? The solid public infrastructure? The whirring factories? The stellar educational system? The honest, insightful public media?

I assume this guy has a pair of ruby slippers to back up his comment.

Cassandra

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2 Responses to “Daily Scold–World Business”

  1. Sybil Says:

    Ruby slippers? This guy’s gone through the looking glass and nibbled the funny mushroom.

    There’s nothing solid anywhere. Have you seen Iowa?

    I’m reminded of John Cleese’s remark that he stopped finding humour in the world when he realized that there is no clutzy but benevolent group in charge.

    Sybil

  2. Jeremiah Says:

    Dear Scolds,
    I got to thinking about the Four Horsemen of the Apocalypse (not the football heroes, people) over the weekend. In addition to all the mythological forecasts of , I’m wondering if the biblical sources ought to be included in the We Are Doomed contingent. Consider Pestilence, Famine, War and Death…per Wiki:

    “One interpretation rearranges the order in which the horsemen arrive to end the world, and a slight change to their personas. The first horseman to appear is Pestilence, who rides upon a sickly, decaying horse. Pestilence causes the decay and imminent destruction of the worlds crops and wildlife. In the wake of Pestilence comes Famine, a large and portly rider riding upon a thin and sickly horse, symbolizing gluttony and the lack of food. In the wake of Famine, due to immense fighting over the remaining food supplies, is War. War rides upon a red horse and wields a tremendous sword which he uses to slay the millions in his path. And in the wake of War, comes the black rider, Death. His horse is, as one would guess, jet black. He is followed by Hades and carries the remaining souls to their final destinations.”

    Ahhhhh, I think I’ll revisit Dante’s _Inferno_ and cheery myself up.
    Jeremiah

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