WND Exclusive - Is This Demand Destruction or Something More

by: Brent Smith

The short answer is that it’s something more and quite unique as far as I can see. What we’re beginning to live is demand/supply destruction.

We’ve seen demand destruction in the United States before and relatively recently, assuming you consider the 1970’s recent.

As Glenn Beck reminded us recently, we saw demand destruction during the oil embargo of the early `70s. He spoke of the huge cars produced by the big three American companies – Lincolns, Cadillacs, Buicks, etc. Then the oil embargo hit, driving gas prices out of sight, forcing Americans to find smaller vehicles that got more 5 to 8 miles per gallon. The demand for big American cruisers was all but destroyed...