The cost was X dollars per barrel. Dollar was a dollar. Adjustments are a
fantasy based on conditions which did not pertain at the time. Of course,
liars do figure ... when the outcome suits 'em.
Now the cost of a barrel of oil adjusted for 1897 dollars was ...
Is the comparison perfect? I'm sure it isn't. But to say that the
adjustments for inflation are meaningless is a lie. So, you don't believe
any of the reports regarding a decline in "real" wages compared to 10 or 20
years ago either, right?
I believe that "real" wages can be compared for a selected period of time
to show a rise or fall. If the results don't fit the presumption of the
comparing party, they will no doubt be "adjusted" with whatever will do so.
I also believe that "productivity" statistics are about worthless,
especially when they're dollars brought in/hour/person, instead of units of
Anyone who has 21 minutes of airtime to fill each evening will fill it with
whatever conspiracy theories will please the public, who hope to find
absolution for their individual and collective sins in the supposed greed of
On Wed, 17 Aug 2005 21:03:45 +0000, Brian Elfert wrote:
Basic thermodynamics aside, that observation still isn't quite correct.
You need to think of the _flow_ of money, not the money itself. A bigger
economy could happen by a half-dozen multinationals increasing activity,
or by a zillion little mom-n-pops increasing activity.
Anyway, those nefarious cads in the Gas Oil Petroleum boardrooms are just
charging what the market will bear. Carpool and have the last laugh.
"Keep your ass behind you"
vladimir a t mad scientist com
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