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Old 10-15-2008, 02:15 AM
 
Location: San Diego
940 posts, read 2,925,043 times
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hopefully it holds, but i doubt it
w0rd?
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Old 10-15-2008, 02:48 AM
 
Location: Yucaipa, California
9,842 posts, read 19,476,583 times
Reputation: 6682
Gas should be much less then it is.I paid $3.38 gal yesterday.Thats still too high but its the new reality until the us govt steps in which i doubt.Keep in mind that in ca we get ripped off the most thanks to the corrupt/dirty politicians in sacramento.
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Old 10-15-2008, 07:33 AM
 
Location: Albemarle, NC
7,730 posts, read 13,075,155 times
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Oil is dropping as the dollar rises. As the world's reserve currency, that's bound to happen. Once the inflationary aspects of printing trillions of new dollars is realized, I would expect the dollar to fall again and oil prices to increase.
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Old 10-15-2008, 07:53 AM
 
Location: Kansas
3,855 posts, read 12,149,114 times
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I think what paperhouse is saying will be true. Don't expect this reprieve to last.

It's was nice to only have to pay $2.50/gal today here in KS though.
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Old 10-15-2008, 07:54 AM
 
Location: Columbia, SC
1,860 posts, read 4,575,192 times
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Quote:
Originally Posted by SouthCali4LifeSD View Post
hopefully it holds, but i doubt it
w0rd?
It will definitely hold the next month, until after the election and I'd imagine it will stay down until probably next spring. I wouldn't get used to sub-$3 prices for too long though. You guys in Cali are always higher than the rest of the nation, I got gas for $2.98 this morning, and we'd be lower had it not been for Ike a month ago which caused shortages to the SE US, we've fallen from the low $4 range to here in a month. My family in NE Ohio are getting gas for around $2.50/gallon now and we're normally right around them.

And the government will only print trillions of dollars if every single debt they've taken on fails to pay (highly improbable), that said, I'm sure they will be printing some money which won't help inflation, and I still think they never should've gotten involved in these bailouts. But I guess that's 'above my pay grade' as B. Obama has said in the past about certain issues.

I think the bigger issue will be as gas prices come back near $2/gallon will people return to their old driving habits that got us in this mess to begin with. That will have as much impact on future price hikes as printing money will IMO.
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Old 10-15-2008, 08:25 AM
 
Location: Albemarle, NC
7,730 posts, read 13,075,155 times
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Quote:
Originally Posted by Buckeye in SC View Post
It will definitely hold the next month, until after the election and I'd imagine it will stay down until probably next spring. I wouldn't get used to sub-$3 prices for too long though. You guys in Cali are always higher than the rest of the nation, I got gas for $2.98 this morning, and we'd be lower had it not been for Ike a month ago which caused shortages to the SE US, we've fallen from the low $4 range to here in a month. My family in NE Ohio are getting gas for around $2.50/gallon now and we're normally right around them.

And the government will only print trillions of dollars if every single debt they've taken on fails to pay (highly improbable), that said, I'm sure they will be printing some money which won't help inflation, and I still think they never should've gotten involved in these bailouts. But I guess that's 'above my pay grade' as B. Obama has said in the past about certain issues.

I think the bigger issue will be as gas prices come back near $2/gallon will people return to their old driving habits that got us in this mess to begin with. That will have as much impact on future price hikes as printing money will IMO.
As long as they keep prices in check while printing the money, inflation won't be too bad. I'm not sure how probable that is with the Fed fund rate already so low. They can't go negative, can they?
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Old 10-15-2008, 08:47 AM
 
Location: Columbia, SC
1,860 posts, read 4,575,192 times
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Quote:
Originally Posted by paperhouse View Post
As long as they keep prices in check while printing the money, inflation won't be too bad. I'm not sure how probable that is with the Fed fund rate already so low. They can't go negative, can they?
Yeah, if they start printing tons of money, you'd almost have to assume they'd start raising the Fed fund rate back-up. I've read some places that some economists think that the Fed should lower the rate to 0%, can't see them doing that, but sooner or later you can't keep robbing Paul to pay Peter, something's gotta give. when you ask they can't go negative - are you referring to the fed rate? I don't think it can, would be disastrous if they do.
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Old 10-15-2008, 08:53 AM
 
Location: Albemarle, NC
7,730 posts, read 13,075,155 times
Reputation: 1508
Quote:
Originally Posted by Buckeye in SC View Post
Yeah, if they start printing tons of money, you'd almost have to assume they'd start raising the Fed fund rate back-up. I've read some places that some economists think that the Fed should lower the rate to 0%, can't see them doing that, but sooner or later you can't keep robbing Paul to pay Peter, something's gotta give. when you ask they can't go negative - are you referring to the fed rate? I don't think it can, would be disastrous if they do.
That was sort of sarcasm.

The bailout legislation pretty much bypasses the Fed Funds rate by allowing banks to hold zero reserves against new loans they make beginning Oct 1, 2008. This is only for banks that participate and that list came out yesterday. They also have no choice in the matter as the Treasury has declared.
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Old 10-15-2008, 08:59 AM
 
57,253 posts, read 45,343,031 times
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Quote:
Originally Posted by eagle7 View Post
Gas should be much less then it is.I paid $3.38 gal yesterday.Thats still too high but its the new reality until the us govt steps in which i doubt.Keep in mind that in ca we get ripped off the most thanks to the corrupt/dirty politicians in sacramento.
Have you factored in:
1) Taxes and other compliance related costs unique to California?
2) The cost of land (meaning that it might cost twice as much to build the gas station and thus higher profit margins are needed to produce the same rate of return?)

Gas prices ALWAYS range by about 90 cents or so across the US, your theory of being "ripped off" doesn't hold water.
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Old 10-15-2008, 09:15 AM
 
1,956 posts, read 4,909,964 times
Reputation: 1113
Quote:
Originally Posted by eagle7 View Post
Gas should be much less then it is.I paid $3.38 gal yesterday.Thats still too high but its the new reality until the us govt steps in which i doubt.Keep in mind that in ca we get ripped off the most thanks to the corrupt/dirty politicians in sacramento.
Anytime the government steps in, you're guaranteed to have one of two things - artificially high prices or supply shortages. If you taxes are high, that's the result of government intervention. If government tries to go after what some people refer to as "price gougers", you'll have shortages.

If you don't like the price at the pump, don't buy the product!
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