Oil's seemingly relentless march higher this year raises the specter of higher inflation that would lead consumers to cut back their discretionary spending. It would also make the Federal Reserve less likely to keep lowering interest rates.

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Light, sweet crude rose $1.95 to $119.43 at midday, having slipped back in the normal ebb and flow of trading. But it appeared inevitable that crude would pass $120 and keep rising.

http://news.yahoo.com/s/ap/20080422/...PWFXrF2Tms0NUE

Hopefully somone can help here.....With inflation over the past 20 years or so are we really paying more now in gas now?

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Todays edition of USA Today, lead article of money section, states that the average nationwide price per gallon of $3.508 for regular unleaded, eclipsed the previous inflation adjusted average price record of $3.413 set in March 1981.
Bush will be remembered much along the same line as Carter for the damage that he has wrought on our economy.

Originally Posted by hardcore

Todays edition of USA Today, lead article of money section, states that the average nationwide price per gallon of $3.508 for regular unleaded, eclipsed the previous inflation adjusted average price record of $3.413 set in March 1981.
Bush will be remembered much along the same line as Carter for the damage that he has wrought on our economy.

Only by those who don't understand economics. MIddle class discretionary income is still higher now than it was when Bush took office. Carter can't say that. Clinton can't, either.

Yep. Everything is looking great for the middle class. Everyone is reaping the rewards of the booming economy. How could I not see it.

I think it is pretty clear that virtually every business that relies on the oil or gasoline or natural gas is playing in the hedge market. The gains made from hedging offset the actual cost paid and is the reason prices and inflation have not followed on the rocket tail of oil. Those that haven't, some airlines for example, are the ones in deep dodo right now. The businesses with big layoffs right now are primarily financials that bombed out with mortgages.

Honestly, I think much of the recession hype in the media is the cause of concern and influencing consumerism. Let this credit crunch play out and we should be okay. Canada has none of the issues we see here in the US yet the population relies on the same markets, except in banking and their banks have not been sucked into the US problem.

Canada has none of the issues we see here in the US

Canada is more socialist.

Originally Posted by Big

Canada has none of the issues we see here in the US

Canada is more socialist.

The only socialist aspect of Canada is the healthcare system and if you talk to anyone up there it's a nightmare, unless you buy a supplementary private insurance policy.