While the Fed Debates Rates, Get Smart on Oil's Impact

While the Federal Reserve Board meets today to discuss rates, a wounded real estate market, flaccid economy, and concerns about inflation we thought it would be a good time to give you two excellent pieces that should be read together. They are, of course, about oil. But, they are really about where you live and how.

Here's why you care: FORTUNE has a well researched article called "Falling Oil Prices: The Downside". Their point, oil is coming down because there's less demand. There's less demand because our economy is in the tank. That's interesting to consider that pump pain relief comes at a different cost - i.e. an acknowledgement the economy is sick.

BUT, if you take the FORTUNE article then read Sunday's New York Times' "Shipping Costs Start to Crimp Globalization" you'll get an even different take. Their point, pump pain means higher fuel costs for shipping goods. Thus, made in Akron, Ohio starts looking better than made in India to the Wal-Marts of the world.

So while you are pumping your next tank and watching the numbers roll over like a slot machine trying to calculate the national deficit, consider which pain you're willing to bear.

Here's another reason why you care: We're going to pay either way, so what's the best path? We think reading these two articles today will leave you better informed as the campaign cycle heats up and the legions of political advisers look at data to shape presidential campaigns. They'll do that believing they know why you care. These two articles will help you make up your own mind.