[lbo-talk] Re: remaking health insurance

Doug Henwood dhenwood at panix.com
Wed Feb 2 18:01:14 PST 2005


Lou Johnson wrote:


><<in general, when oil companies are
>doing well, the rest of the world is generally doing
>less well.>>
>
>Why?

Oil companies do well when oil prices are high and/or rising. But high and/or rising oil means rising inflation and slowing economic growth. So employment is weaker than it would otherwise be, and real wages are also weaker. High oil really hits airlines, and to a lesser extent carmakers, but most of the nonoil economy loses.

Doug



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