It’s the minimal effect of these higher oil prices that is so annoying to doomsaying politicians and journalists. The single best indicator of an economy’s performance, GDP, the output of all goods and services, is currently about 3.5 percent, and it’s not slowing. It’s accelerating.
They know it’s coming. Hospitals already are monitoring for its arrival with every patient who checks in. Now scientists are swabbing wild bird bottoms in California and elsewhere in a hunt for the first signs of the deadly virus.