I want to respectfully disagree with Matt Yglesias on what is the most important point of this little story. Along with lying about what his "budget plan" does to Medicare and Medicaid, Ryan styles himself as someone who understands monetary policy. Yet, as the exchange at Matt's post makes clear, he doesn't know anything about monetary policy.
Gas prices are currently high due to the exploitation of Middle East unrest by futures traders manipulating the market. Here in Illinois, prices are especially high because we have higher standards which increase the base price. None of this is especially murky, and it certainly has nothing to do with monetary policy.
That Ryan would make such a claim, in public, after insisting he understands monetary policy, is all the more reason to cease paying any attention to him whatsoever. Except to call him an ignorant boob and move on.
