So at 8:30am this morning I read some economic data that I can only describe as fascinating. It's kind of like a jungle gym for your mind. You read the report, and it's a framework that you just sit and mull over.

Okay - so the trade gap is narrowing - which means even though we're still importing more than we export, we've actually begun to import less and/or export more in the last quarter. Which is good, because that will increase our GDP.

So here we are, using less of 'other peoples stuff' to run our economy, and it's still growing. The real interesting part is this:

Imports of industrial supplies fell 3.2% to $61.6 billion, including an 8.9% drop in petroleum imports.
The average price of oil rose to a record $89.85 a barrel, but demand fell 9% to 8.97 million barrels a day.

We're using 10% less energy. Think about that. Then think about the ridiculous increase in oil prices of late. And you wonder if maybe there's an oil bubble expanding, what with Iran floating 28 million barrels of oil.

Is this an indication of some kind of 'lean' capitalism? Are consumers going from big spenders to keen shoppers? Is this the invisible hand at work here, as lean operations become a response to inflated energy prices?

Posted by: shank at 07:57 AM | Comments (4) | Add Comment
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