Analysis: Can U.S. Economy Withstand Gasoline Price Curse?

“The answer, economists say, is that this time is different: the recovery is in far better shape to absorb the blow.” HA HA HA. And, we're gonna believe that because they've been so successful in their analysis before, right? It always amazes me how the nation's top economists along with our banking and real estate leaders were just shocked by the 2008's housing crash and mortgage meltdown. Or, at least professed to be. I don't believe that they were, really. If someone like me – a high-school drop out and a college drop-out – could see it, and I'm on record as writing about it since 2001, there's just no was that industry leaders and politician didn't. It's worth thinking about why they claim they were taken by surprise. It's worth thinking about why what we're told about the economy often conflicts with the data and what we can observe all around us.