Tag Archives: Gas

Keith Olbermann admits he doesn’t understand economics

Keith Olbermann was on ABC’s This Week on Sunday with host George Stephanopoulos.  He stated that traders and speculators are causing the gas prices to go up and that it’s a conspiracy to drive up gas prices.  This is naturally all to harm Barack Obama’s election chances.

KEITH OLBERMANN: Yeah. One of the — one of the things I turned to, to try to establish that was to look at the average gas price at various key moments, and the lowest price in the last six years, the nadir of gas prices at the pump, was the day of this president’s inauguration in 2009. There has to be some connection between that being the least busy political moment of a president’s career, where you’re not going to — you’re not going to hurt them, you’re not going to harm him that way, and the price of gas. There has to be an almost deliberate or at least a side effect quality to that. There must be.

This statement is laughable.  The connections between the rising gas prices and Barack Obama mainly point to inflation.  As long as the Federal Reserve continues to print money the cost of every day living (and things like gas and food) will continue to rise.

If Keith Olbermann really believes this, no wonder he got fired.