Drum got infected with the illusion of 2009

Oil Is Down! Oil Is Up!

The critical issue is that shale production pulled us out of the recession, one of the biggest job gains for a few years. Now we are stuck with potential of a few small states becoming insolvent

Drum would have missed this because he bought the housing crisis hook, line and sinker.  I blame the House on this as they needed an excuse to pile on during the 2009 crash, and so they too bought the illusion.

Notice my economic theory goes all the way, I do not stop in a conundrum and start yapping, like Krugman.