Friday, May 1, 2009

From Europe

Will U.S. heed this European leader?

Profits can be made when energy is rationed or subsidized, but only within an economy operating at lower, or even negative, growth rates. This means that over the longer term, everyone will be competing for a piece of a pie that is smaller than it would have been without energy rationing.

This does not auger well either for growth or for working our way out of today's crisis.

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