The Gasoline Price Myth

"If you repeat a falsehood long enough, it will eventually be accepted as fact." In the financial markets and economics it is a common occurrence that the media and commentators will latch on to a statement that supports a cognitive bias and then repeat that statement until it is a universally accepted truth. When such a statement becomes universally accepted and unquestioned, well, that is when I begin to question it. One of those statements has been in regards to plunging oil prices. The majority of analysts and economists have been ratcheting…

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via OilPrice.com Daily News Update http://ift.tt/1BqaQk5

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