It took plenty of time and burning the midnight oil and a lot of telephone calling to get everyone together,

Remember, you used to eat those all the time.

Those were the most flourishing times. The population of Parsons at that time was about 15,000, and of that African Americans represented about 12 percent, or 1,284 people.

This is the IMF at its best working to bring oil producers and consumers together.

What we all have to avoid is the notion that we can buy our way out of our problems. Instead, the goal is to reduce our costs by extreme frugality. This is psychologically difficult because if there is one great certain confidence in American society it is this: you can buy your way out of almost anything. Other than a few things that will land you in jail even if you are rich, we tend to look for solutions that involve buying things. Having trouble with your marriage? Take a vacation. Pay a counsellor. Don't want to eat pesticides? Buy organic food! Indebted? Buy a book about how to get out. Worried about Peak Oil? Look at all the things there are to buy. Got a crosscut saw and a year's supply of dry milk yet? Don't want to give up driving and flying? We'll sell you some nice carbon offsets.

A year ago some said that the doubling of oil prices would push our inflation far beyond target and that a recession was required to slow the increase in house prices.