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The days of low gas prices are over. Most people seem to forget the gas prices started rising at the end of Clintons second term. The fact that gas is $4 a gallon today is just the chickens coming home to roost. We've been warned about this since the 70s.
Even more forget that gas was ~$1.90 per gallon early in Obama's term.
Many good points here. Many misplaced ones. In the end, it is not oil that is the problem, it is as noted, the policy of a weak dollar. Supply and demand is not driving the price. Government monetary policy is.
The Volt nor Hybrids are the problem. There is nothing inherantly wrong with either. (politics aside).
Let's take a look at the two different ways we could have went.
We decided that pumping the markets full of money and keeping rates artificially at record lows was the way to go. That policy has caused prices for most things to rise. It was indeed inflated the markets but that has done very little for the economy. The markets do not equal the economy. Low rates have done little for housing.
Let's say that the government took the other avenue. What if gas was still $2.25 and the prices of everyday items like groceries were not going up monthly? People would have far more to spend today. If the government would come out and state that they were going to allow rates to rise, there would be an immediate boost in the housing market with people wanting to get in before rates go up. Same with cars and other large ticket items. Business hires.
Before long those who had retired but had to get back ino the market because their savings was no longer provided for them could retire again. More jobs open up.
People are reluctant to get into the markets because of all the corruption that has been ignored. In reality, has been rewarded.
The government has done pretty much the opposite of what should have been done in every aspect. This is far more a problem with government than Obama. It was this way under Bush and it will still be under Romney.
Just to note.......I imagine this story has been posted elsewhere but I will likely wear it out.
........“This is going to cause the economy to completely stagnate,” he
said, expecting the effect to start within three or four months.
He first expects a “rapid uptick in gasoline and food prices,”
which will affect households’ disposable income. This in turn will take
several months to work its way through into the general economy.
“People are going to feel nostalgic for the 1.7% for the last
quarter,” he said, referring to the second quarter GDP growth.
“Unfortunately we have a Federal Reserve that simply does not
recognize the inflationary impact of food and energy prices any longer,”
he said.
Wait till taxes are raised $500 billion a year not including the payroll tax going back to what it was; the prime interest rate is high single digits; we're looking at the collapse of the safety net; high single or low double digit inflation year over year and there's $100 billion a year plus getting cut from all of the discretionary spending programs.
If you're freaking out over $1 extra per gallon of gas best be preparing yourself for much worse conditions than $20 - $40 less a week because of gas price increases.
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