Gas Has Gone Way Up (Dayton: apartments, renting, loans)

[jsherman9901]

Originally Posted by hiknapster

Unfortunately, commodities is where it's at. Gold is a stellar buy, too.....

The value of the dollar is in the toilet. Bear Stearns had a run, and had to be bought out for $2 a share. The Fed dropped the rate on Sunday night to avoid a panic on The Street, two days before they were expected to meet.
He keeps this up, and Bernake is going to run through his playbook pretty quickly.

Gold WAS a stellar buy 4-5 years ago when it was hovering under $300 an ounce. Now, I just don't know...

Allen Greenspan took an economy that was fundamentally sound and set the stage to run it into the toilet due to his manipulation of interest rates, ostensibly to please Wall Street (after 9/11). Bernanke has finished the job, and as you said, there are no more rabbits to pull out of the hat; there never were any rabbits to begin with.

It is true that we consume way too much oil, and that has got to be controlled somehow. But, I know that coal gasification technology is out there. The military has already successfully run tests with bomber and transport aircraft burning a 50/50 mix of normal and synthetic jet fuel. I have read that oil can be produced from coal at around $35 a barrel. So why are we not building plants by the dozens? To hell with ethanol, which is not very efficient and drives up food costs!!!!

[hiknapster]

I thought gold was too expensive a couple of months ago, when it was at $800. Now it's at $1,000.

Ethanol is a very bad idea, I agree.

[bebette]

Diesel just jumped from $4.34/gallon to $4.41/gallon today down here in the Keys!! Regular unleaded is still only $3.65/gallon!

[TeeJayMaJay]

You said STILL ONLY $3.65...ONLY? Gesh! We are at $3.30 here north of Daytona. Seems like it goes up every 3 days. I think that is what my rebate check will go to...paying gas for the car.

[jguillot]

I paid $3.48 per gallon at Costco in Citrus Heights, California yesterday. The price continues to rise!

[hiknapster]

Originally Posted by TeeJayMaJay

I think that is what my rebate check will go to...paying gas for the car.

Good point. With these prices, it doesn't seem like the "stimulus package" will be helpful.

[bebette]

Originally Posted by TeeJayMaJay

You said STILL ONLY $3.65...ONLY? Gesh! We are at $3.30 here north of Daytona. Seems like it goes up every 3 days. I think that is what my rebate check will go to...paying gas for the car.

Scary, isn't it?????

[siennaoconnor]

Why we continue to depend on our old oil resources really makes no sense.
We have more that enough petro deposits on this continent counting Canada and Mexico.

Anywho .......... All y'all have dropped back to the former respectable gas prices compared to this awful state.

Motor on Wayne .............. schwing !
* dat wuz a joke*

[Tennesseestorm]

Prices are killing me. My daily driver is a 1973 Pontiac Grand Ville with a 455 engine, that gets about 13 mpg! I had 1/4 tank yesterday and I had to put $55.00 in it yesterday (@ $3.15 gallon)to fill it back up and it still may have held another gallon or so. I just stopped at $55!

My other car (Lexus) is much more fuel efficient (about 22mpg), despite being a V8, but it requires premium.

Something has got to be done about these out of control fuel prices!

[mrradio]

Part of the runup in gasoline prices is related to the declining value of the dollar. Economies using the Euro and certain other currencies that have been stronger than the dollar have not seen as steep a rise as we have. Washington doesn't discuss this, however. Gasoline is the most noticible aspect of the weakened dollar but the affects exist across the spectrum of imports.

The larger issue really is the Federal Reserve's recent actions in providing emergency funding to Wall Street and dumping boatloads of dollars to help float the economy. This is only adding to the dollar's woes. While providing help to those who may or may not deserve it, depending on your position, we will all pay when our dollar has to buy those imported goods, oil included. Washington's statements about wanting a strong dollar don't square with its inflationary, dollar-devaluing actions.

There are substantial arguments for both deflation and inflation as the final destination of all of this, however.