Oil Drops

Oil has come down a lot recently.

I remember not long ago the pundits were predicting gasoline at $5 a gallon.
Once again they were just wrong. Plain wrong.
You can't predict the future.
And you really can't predict it if your understanding is flawed.

What was the flaw in their understanding?

They don't believe in freedom.
They don't believe in innovation.
They don't believe in the genius of the common man.

They don't understand supply and demand.
They think the common man is stupid and will pay anything.

They want to be able to control things.
So it is a political argument.

The little man is a fool and must be protected by "me" because I am so wise.

But history shows us that the one who thinks himself to be wise often turns out to be the fool.

This morning oil is down almost to $80 a barrel.
What next?
Fools will tell you.