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Old 06-22-2008, 09:10 AM
Location: Tennessee
34,673 posts, read 33,676,768 times
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But then again, all of this is a part of a plan for a New World Order by the Bilderbergs, Trilateralists and Council on Foreign Relations.
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Old 06-22-2008, 01:09 PM
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[quote=radraja;4186479]Exactly. People still have jobs. People can still live comfortably. Things are a little bit tight for the average American family, but most people haven't had to make any huge sacrifices. Our lives haven't been affected too dramatically.

Some folks have not been affected much at all. I just got back from IKEA here in suburban Detroit and the store was jammed, shopping carts were full at the checkout lanes and the parking lot was full of shiny and huge SUVs. I even saw a few brand new Hummers int he lot...Maybe these are the folks who are up to their wazoo in debt, but they do not appear to be obviously affected by the high gas prices, foreclosures, or high food prices, etc. Maybe they are combining their errands these days and not jumping into the car every time they want to go to the mall for one item, but that's a pretty small sacrifice in light of what many people are experiencing.

I think that the worst is yet to come, in general, as was mentioned in the earlier post in this thread. The trends are not positive and the cost of gasoline will continue to escalate even if the Saudis decide to open the spigot a bit more. What real difference would $4.50/gallon gas make compared to $5.00? People that can't afford to drive at $5.00/gallon are not likely to afford to drive at $4.50/gallon. The wealthy class will still buy the gas for their SUVs regardless of price.

And if you think food prices will decrease if there was more oil pumped and the price magically decreased by 25 or 50 cents a gallon, think again. Do you honestly think that the corporate supermarkets will LOWER food costs in the future if gas is 50 cents a gallon less? Very doubtful. They enjoy their profits and obviously people are still buying food at the current outrageous prices. Same is true for other products with currently escalating prices.

The wealthy class will continue to live and buy and consume as they always have. The lower classes will suffer more and more from the middle will join that group, IMO. The lower economic classes, however, do not have clout in Washington DC, so not much will change until the pain is shared with the powerful and rich, who do have influence in Washington. How many US senators do you think feel the pinch of high gas prices? Not many, as they make a handsome salary and have fabulous health benefits, big retirement accounts, etc. And some have married into money......John McCain, John Kerry, etc. Do they feel the pinch at the pump with their millionairre spouses? Not likely. How many lobbyists in DC do you think feel any pinch at the pump? They make 6 figure incomes and live accordingly, and of course are paid by the ever wealthier corporations. Until the powerbrokers feel the pain, nothing significant will change.

I do think that the economic gap will widen even further in the coming years between rich and poor, but the real pain will be felt by the lower and lower-middle classes. There will be more bankrupcies, foreclosures, failed small businesses, and fewer opportunities to improve one's position in life. Probably more homelessness too and more folks using food banks and shelters that haven't used those services before. The very poor already feel the pain and have for a long time, so this not news to them.

Regarding the gasoline prices, why was there a rapid escalation leading up to Memorial Day weekend (which happens every year based on theoretical increase in demand), and now it's stopped all of a sudden (for the last couple weeks), at $4.00 =/- a gallon? I have to feel that some of this price escalation is manipulated by big oil companies so they can get access to off shore drilling, which is what they want. The power brokers in DC are already talking about that option. If oil companies don't get what they want, well, we'll see more price escalation. It has little to do with supply and demand, in spite of what we are hearing about China and India.

I realize this is only one piece of the oil price puzzle; OPEC policies are responsible for part of the cost of oil, and out of control speculation is responsible for a sizeable chunk of the inflated cost, in part because of the deflated dollar and lack of regulation. Anyway, I personally think we will see continued increases in oil prices for many political reasons, with $5-6.00/gallon coming in the near future. All other associated costs will increase accordingly (food, etc). Not a pretty picture, unless you are in the wealthy class.
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