So long as predictions remain popular, and are so numerous as they are today – and so long as they receive notoriety through repetition in the press and on the radio – contrary opinions will increase in importance as thinking aids. “
January 12, 2015
The seemingly sudden collapse of commodity prices has made news in the press. Oil declined close to 50% in just a few weeks. The press claimed it was due to increased U.S. shale production and slowing global demand. While these two factors are valid, I believe, they are on the margin. What’s not on the margin: Americans...