So gas prices are going to mess the economy up right?
I don’t know about you all, but I just think it’ll be damn near impossible for the economy to recover if gas/oil prices continue to rise. They say that the price of oil is rising based on speculation that the economy is starting to recover, well hasn’t anyone figured out that those oil prices could possibly affect the economy’s health. Oil prices have will many facets of our society…hell it’s the reason milk was nearly $5 a gallon this past summer. So if gas were to get back to $4 this summer just imagine how crippling this could be for the economy especially when things haven’t even gotten better yet. Yea yea, I know Obama has a plan to make everything go green, and to make cars more fuel efficient however the problem is that we need oil NOW! Sure these are all great plans, IMO they’re just a little too late
Oil prices do instigate recessions normally. Generally we should have gone into recession much before the housing boom because of rising Oil. at the same time they’ve just raised minimum wage which I think is a good thing for our economic recover it makes it easier to raise higher gas prices. People who make high wages gas isn’t a huge part of their expenditure. Sure they don’t like spending 300$ a month on gas per car, but if your earning even 40,000-50,000 thats a small percentage of your income.
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