A writer for MarketWatch.com, which is part of the Dow Jones-Wall Street Journal group — has penned one of the most smugly ignorant articles about our economy I could imagine. The article is titled Eight Reasons You’ll Rejoice When We Hit $8 a Gallon Gasoline.
His reasons include:
1. RIP for the internal combustion engine
2. Economic stimulus
3. Whither the Middle East’s clout
4. Deflating oil potentates
5. Mass transit development
6. An antidote to sprawl
7. Restoration of financial discipline
8. Easing global tensions
