While still short of $4 peak for many people $3 feels like $10 because of the unemployment http://www.gasbuddy.com/GB_Price_List.aspx http://www.gasbuddy.com/gb_retail_price_chart.aspx?time=24
It definitely doesn't help. It takes more money to be productive with higher energy costs. More money for companies to transport (anything), means less money for hiring and payroll.
In cities where energy industry is dominant like Houston we are very happy. I wish oil goes to $200/barrel
The other day paid close to $3.60 a gallon for regular. Happy times are hear again and Bubble ben bernanke is only making it better, haha.
Cost of goods is no longer relevant Nothing can beat the fed presses: 1. The one claiming no inflation 2 The one claiming dropping unemployment 3. The one printing trillions and if prices goes up it's just growth and increased GDP=more reason for endless rallies, cheers and high fives between the Beard and oDumbo.
I remember when gas hit $4.25/gal in Houston in 2008, I saw 20-30 people in bus stations which never happened before in houston I saw guys with suit and tie riding motorbikes in the rush hour Saturday traffic was so light, I was shocked. Usually streets were full of cars. I was pumping gas in Sams Club and all of a sudden behind the pump an old lady screamed. So I walked towards her and saw that she was looking at the digital screen that shows 90 dollars She was pumping premiuim gas to a Lexus Jeep. I said relax, calm down. but she was in a hype mode. Those were the days:eek:
Lexus Jeep?? You mean the GX 470 or the LX 470??? Plus why was she screaming, those suvs go for $65k++++ I think she can afford to fill the tank. Those are extremely high gas guzzlers.... It probably wasnt the RX... Yesterday saw a gm truck fill up, cost was around $70.00 and that did NOT include full service where they check your oil and clean your windows....