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Automotive News & Views How does gas at $4 and higher impact you?
2183 messages, Last post on Nov 21, 2009 at 5:13 PM
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Replying to: dave8697 (Oct 12, 2008 5:37 pm) dave8697 wrote " "The guy on the floor on Wall st was saying: Washington just needs to keep their mouths shut. Bush says something anyway and another 400 point drop. Then he says that they just need all those who are going to sell to get scared out of the market to get it over with. That will make a bottom and then it will be safe to get back in. Institutional investors who sold high to start all this will buy back in at the bottom. It will rise fast and those who sat through all this and left it all in will have watered down gains because of the in and out by the institutional investors. I think Getting something back is better than getting out now. " Yah our politicians are insufferable.The panic is just that, overblown and almost comic looking back, but caution after the rebound. Kdyhspyder: I didn't hear that episode of NPR, but granted that if I had to identify the three lamest agencies they would be the EPA, SEC and OSHA. Lawyers, lawyers and more lawyers. Good point on Japan, I might title it, the Marshall plan vs. cultural inhibitions. To foreclose would be so impolite. |
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Replying to: avalon02wh (Oct 11, 2008 5:47 pm) I told my representative the same thing, and she voted yes. I will be as good as my word on my ballot. My folks just retired in the last couple of years. They spent their working life planning and saving for retirement. They should be comfortable now, but instead they may have to return to work. If the total collapse of the banking system brings the price of their gas down to $2, I suspect they won't be cheering. :-/ |
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Replying to: dave8697 (Oct 12, 2008 5:37 pm) That almost mirrors what happened to me as well. In 2002--03 I almost dumped everything at a loss but ended up selling it all in 2007. I finally realized that the bums holding my IRA were making more off my investments than I was. In the end the stocks I had picked were up 200%. The stocks they had picked were off about 60%. They made more on commissions and fees than I ever made. Good riddance, I hope they all go belly up. 
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Replying to: oldfarmer50 (Oct 13, 2008 3:10 am) That was my wife's experience with Paine Webber. They took her $348k in profit sharing down to $106k during the Dot.com fiasco. She let them manage it. BIG Mistake. AG Edwards convinced her to sell a bunch of small stock holdings from a couple divestitures at AT&T. The commission was more than the stocks sold for. I do not trust stock brokers. Most people just do not want to play the market. Those people are better off in a well run mutual fund. If you can find one. I look for our gas to go under $3 by the end of October. |
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Replying to: gagrice (Oct 13, 2008 7:57 am) Here in NY I'm seeing a few stations selling RUG for under $3 ($2.95). Trouble is they are all 15+ miles away which pretty much negates the savings. Some greedy bums are a full 50 cents higher. I hope folks remember who ripped them off when prices get back to $2.
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Replying to: oldfarmer50 (Oct 13, 2008 12:09 pm)
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Thankfully, gas must still drop about 40% more to get a USA average price of $2 per gallon. Please SLOW DOWN Mr. Price Drop !!!! We do NOT NEED TO return to our wasteful ways !!!
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We do NOT NEED TO return to our wasteful ways !!! Well, with all the SUV and truck plants that are being closed down, it's unlikely that there will be many gas-guzzlers available to the US public should prices return to $2/gal. I think that $4/gal prompted a fundamental change in both buying habits by the public and production from the manufacturers. Given the increased cost of just about everything, I believe that gas dropping to $2/gal will simply give Americans more money for milk, bread and cheese. |
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Replying to: andre1969 (Oct 13, 2008 12:16 pm) |
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Replying to: larsb (Oct 13, 2008 12:46 pm) I agree. The worst thing we can do is fall into that old trap. Each time we've seen these "crisis" situations occur people start out conserving and as the memory fades they go back to the guzzlers. But not totally. Imagine what shape we'd be in if we were still driving those beasts from the 70's that got 10 mpg. Car technology has come a long way after each crisis. I used to drive a 1991 domestic with a 3.8L V-6. I now have a 2008 with a similar 3.8L engine. Both get about 25mpg around town. The difference is the newer car has 100 more HP than the older one. I think this latest crisis will spur even better economies. While I'd like to see incentives given to car makers and buyers to achieve this I would not want to try doing it with high priced gas. |
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