I swear – CNN is trying to outdo the National Review. In this segment:
Glenn Beck tells CNN’s Ali Velshi that the average person owns a lot of big oil, and profits are a good thing.
Right now – I must not be average as I neither own oil stocks nor a car. Yes – in NYC, I take the subway so I’m lucky in that I don’t have to pay for the high price of gasoline. At one point a few years ago when I was driving to work on the freeways of Los Angeles, I also owned a fair amount of ConocoPhillips stock and my math said that the rise in my share of its profits almost balanced the increase in my gasoline bill. But I was quite lucky back then as well.
The average American likely does not own enough shares of Big Oil such that his extra stock income comes anywhere close to the increase in how much he is paying for gasoline. If Glenn Beck thinks otherwise, then why does CNN have this village idiot on television? And while we are on this question, what credentials does Ali Velshi have talking about economic matters? As far as I can tell – he has even less intelligence on such matters than Glenn Beck.