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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
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
As gas prices increased we had all those stories of people running out of gas because they could not afford a fill up.... so tell me, with gas falling as sharply as it is , will we STILL see those folks out of gas? I mean, now the reason is: "I did not want to fill up, waiting for it to get cheaper!"   Look, I lived this - I was out of the country for more than a month, and filled my tank before I parked the car and headed for the airport - I filled up with $4 + gas... I want a refund. On another note, I have a new appreciation for "working" pickups after driving (and using) one for that month. |
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Replying to: snakeweasel (Nov 27, 2008 6:08 am) "FYI WWI was the war to end all wars. " I stand corrected. Thank's. Pity the victors insisted on inflicting injury. Penny wise. As per temporary taxes the rest stands. I'm tasting steak.
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Replying to: duke23 (Nov 27, 2008 9:39 pm) |
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Is that insane or what? Of course OPEC is looking to cut production again. If they do it will be cutting their own throats. World economy is shaky, push up fuel prices and what happens? Demand goes down even more. The free market is a powerful thing. BTW, at prices lower than $1.90 didn't larsb not only promise us all steak, but to serve it to us while wearing a tutu?
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Replying to: oldfarmer50 (Nov 28, 2008 1:26 pm) tutu's have been shown to increase global CO2 output... not "green" enough. He should serve us wearing a grass skirt and a couple of coconuts.
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Replying to: snakeweasel (Nov 28, 2008 6:23 am) "I was also wondering where you got 9/10ths of a cent. " An early marketing ploy, rationing the key word in the early '40's. Yes that predates WWII, even WWI. But as an economist not a historian I am interested in your opinion on credit default swaps. Thanks. 
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Replying to: jipster (Nov 28, 2008 7:00 pm) |
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Replying to: duke23 (Nov 28, 2008 9:31 pm) I was just wondering where the 9/10ths of a cent tax came from. I think I know but its wrong. But as an economist not a historian I am interested in your opinion on credit default swaps. Can you say completely unregulated horse race bets? While not causing the economic mess we are in it certainly made it worse. As a form of insurance against loss in owning financial instrument it is a good thing. But CDS went way overboard to the point that you didn't even have to own the financial instrument or even suffer a loss for it to pay out. With a system like that where you start having greater than usual defaults those guaranteeing those intraments start having massive losses. Many of the big financial institutions that have failed have done so due to CDS's. |
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Replying to: duke23 (Nov 28, 2008 9:31 pm) Not that it has much to do with $4 gas, but it did make me curious. That is ONE giant can of Worms. No wonder our economy is in such a tizzy. Here is the easiest read I could find on CDS. http://www.pbs.org/newshour/bb/business/july-dec08/solmancredit_10-07.html
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Replying to: gagrice (Nov 29, 2008 8:07 am) " Not that it has much to do with $4 gas, but it did make me curious. That is ONE giant can of Worms. No wonder our economy is in such a tizzy." Actually it has more to do with the current price of rug and the state of our economy than one would think. It has become a self fulfilling prophecy. I equate it to you buying an insurance policy on your neighbor making you the beneficiary, I sell you a gun and supply you with a 5th of Jack Daniels and send you home to contemplate your options. An insiduous product at best. Understanding on Bear & Lehman. Evil no? They seek to regulate such, and have them traded on an exchange rather than declare them illegal. They will succeed. The saga continues. In the old, shall I say good old days one would trust S & P or Moody's. Now that doesn't seem enough, you must hope for or even encourage the demise of one of your competitors. That of course weakens your own position but who ever said Wall St. was smart ? |
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