Not just oil prices… since 2001, also gold has doubled, as well as other metals and real estate. Wait a minute… was there really a real estate bubble? Measured in gold bars or oil barrels, houses cost the same now as in 2001. Makes you think.
And no, you can’t blame this administration or the previous one. This has to do with central bankers’ loose monetary policy (not just in the USA), trade deficits (Chinese floating in $$$), and financial innovations (think creative derivatives).
