Today at lunch while listening to the radio, I heard a report the the price of oil had reached a new high — $113 per barrel.
Moments earlier, there was a report about inflation and the value of the US dollar falling in comparison to other currencies.
Hmmmm… think the two stories are connected?
I do — but they never mention that on the news.
Of course the “price” of oil in USD is going to rise as the value of the USD falls!? Makes perfect sense to me.
So, did the price of oil *actually* go up?
Or did the value of US currency just fall?
It’s one or the other…
I’m guessing it’s the latter.
Maybe due in part to all of the new $5 bills they just printed. :0)