Thursday, February 24, 2011
The Quickening
About 48 hours ago, I called out to Genocidal Ben Bernanke , and pointed out that crude oil had risen enough in a 24 hour period to suck about $696 billion from GDP. This morning, you can go ahead and subtract another $756 billion! Over the last 72 hours, the U.S. has lost over 10 percent of GDP due to rising oil prices. But remember, we're in recovery.
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