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Old 03-19-2011, 01:46 AM
 
6,123 posts, read 5,165,721 times
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It wouldn't affect me much. With the higher gas prices, I hardly ever use my car anymore - now that it's spring, I've gotten in the habit of walking everywhere, including to and from work (only 3 miles), and limiting grocery shopping trips (it is quite a bit farther to the grocery store). It's a habit I plan on sticking to.
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Old 03-19-2011, 08:00 AM
 
Location: Brooklyn
40,057 posts, read 29,769,247 times
Reputation: 10455
Yes, just imagine...gas prices forced below $2/gallon. And banks required to pay a minimum 5% interest (as they used to be). As the old song goes, life could be a dream. Sh-boom.
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Old 03-19-2011, 08:18 AM
 
Location: Vermont
10,098 posts, read 10,640,894 times
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Quote:
Originally Posted by tgbwc View Post
Personally, I'd save about $30-40 a month in gasoline.
When you put it that way one can't help but observe that nobody's going to get rich on that amount, eh?
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Old 03-19-2011, 08:27 AM
 
3,283 posts, read 4,567,202 times
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Quote:
Originally Posted by Fred314X View Post
Yes, just imagine...gas prices forced below $2/gallon. And banks required to pay a minimum 5% interest (as they used to be). As the old song goes, life could be a dream. Sh-boom.

you have to be asleep to believe it though
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Old 03-19-2011, 08:40 AM
 
Location: Texas
5,774 posts, read 6,669,040 times
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Quote:
Originally Posted by 58robbo View Post
the price is less relevant than what people think the future price will be. the price of gas could come down, though i doubt to .99, if people still saw all the volatility in the markets and we're concerned about another huge spike, they'd hold back. if they had the sense that gas would drop and remain at .99 for the long term, that would definitely stimulate the economy.

it isn't going to happen though. the trend is going in one direction even if we do get the odd break now and then

Now you're talking about expectations. The OP's premise was that if gas were forced under $2/gal the economy would explode and unemployment would fall. No volatility, no future expectations (regardless of the validity in that scenario-sense there is ALWAYS both) within that scenario.

The example of $.99/gal gas was to show how extreme the variable could go in one direction and still have a minimal effect on unemployment. Gas would have to go to...for example $.99/gal, but w/out employment gains the multiplier effect would be regional at best and expansion would be almost as it is today increasing, but slowly almost glacially. The OP's two variables are not fixed to each other, they are independent but do have effects on each other.
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Old 03-19-2011, 08:42 AM
 
Location: The Republic of Texas
60,788 posts, read 30,796,580 times
Reputation: 12947
I'd get back into Jetski Racing.

I could afford fuel, and travel costs, once again.
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Old 03-19-2011, 08:50 AM
 
3,283 posts, read 4,567,202 times
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Quote:
Originally Posted by txgolfer130 View Post
Now you're talking about expectations. The OP's premise was that if gas were forced under $2/gal the economy would explode and unemployment would fall. No volatility, no future expectations (regardless of the validity in that scenario-sense there is ALWAYS both) within that scenario.

The example of $.99/gal gas was to show how extreme the variable could go in one direction and still have a minimal effect on unemployment. Gas would have to go to...for example $.99/gal, but w/out employment gains the multiplier effect would be regional at best and expansion would be almost as it is today increasing, but slowly almost glacially. The OP's two variables are not fixed to each other, they are independent but do have effects on each other.

all i'm saying is that peoples long term expectations are more relevant to unemployment than a momentary drop in price
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Old 03-19-2011, 08:50 AM
 
Location: NC
10,005 posts, read 8,731,617 times
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Quote:
Originally Posted by silas777 View Post
What do you think would happen if Gas price's were forced below 2 dollars a gallon! The economy would explode, and the unemployment rate would plummet.
It would likely be the sign of a double dip recession. Basically it would mean that consumption has dropped off drastically, probably in Asia. Oil is an inelastic commodity and price varies greatly based on demand and the large declines in demand required to reduce the price that much are usually due to economic distress.
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