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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
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Replying to: euphonium (Sep 15, 2008 2:03 pm) Actually, now is a great time to invest...IF you have the money to put into the market and you won't need it for a few years. But it seems like the human brain conditions us to do just the opposite...pull money out when things drop, but throw more money in when things are flying so high that they're just waiting for a crash. Unfortunately, with the way the economy's turning, there are a lot of people who simply don't have the money to tie up...it's going to bills, interest, keeping a roof over their head, food in their stomachs, etc. I think that truly is one reason that the rich get richer...in times of economic downturn such as this, they can keep investing more into the market, in a sense buying stock when it's "on sale". Meanwhile, much of the masses have to liquidate their stocks and other holdings, often at a loss, just to keep their heads above water. Then, when the economy turns around, the people who invested in the downturn make out like bandits, but those who had to pull money out are now on the sidelines. |
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| I could have a Corvette and a Viper in the garage for what the stock market has taken from me over the years. Today it lost me 6% in my biggest fund. It will come back, but I'll have to give it 3-4 years. Trillions were lost today and that takes away from spending by the ones who lost it. The effect will hit the economy and we will go into a slight recession. $4 gas will be overshadowed. I still think there are the recession protected groups that include all direct and indirect gov't workers and those involved in providing necessities. The electric bill will always rise, as will college costs, insurance, prop taxes, cell phones, cable TV, food, gas, heating oil, roads, water, concrete, medicine, doctors, MRI's, laywer's fees, court costs, tickets and Japanese car sales. Those parts of the economy will not see a recession NO matter what. Now they have a Hybrid Escalade for those who have $900 car payments and want to save $3 a day on gas. Is that a large market segment? And to see it only changes the price from $63 to 66k for the SUV and makes it green. Out of the 43% who think they are worse off now than in 2001, How many of those could say the same when comparing 2001 to 1998? I'd say most. There has always been and will always be a 43% of America's population that has felt trampled on. I blame the Lehman Bros collapse on everything from a bunch of scammers from the top of that organization, right on down to the sales clerk at Target who got approved for a 'liar' loan to buy a $489,000 house. That person was part of the 43% that has always been worse off when they compare back. Do I think they can better pick my next leader for being part of that 43%? I have to make that person's mortgage payments (through fund losses). I made another one today!!! I should be able to claim their unclaimed interest on my Schedule A. They can't claim it because they are not making the payments. | |
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Replying to: lemmer (Sep 11, 2008 5:49 am) No they are not. Costs associated with illegal activities are not deductible.
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Replying to: gagrice (Sep 11, 2008 11:25 am) Most people don't itemize car expenses as it is way to cumbersome to do and just take a standard mileage rate. |
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about this economic downturn, is that all of a sudden, the money I'm blowing on my heat pump and electrical upgrades to the house is suddenly a drop in the bucket compared to how much my investments have dropped!  Oh, and I noticed on the way in to work, gas prices ticked up a bit. The local Shell had 87 for $3.719 and 93 for $3.949. Just yesterday they were $3.689 and $3.899. Not an economically back-breaking jump, but coupled with yesterday's stock market, just an extra slap in the face. |
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Oil is kissing $91 a barrel this morning and wholesale gas is down another 8 cents (down over 30 cents in the last two days). With news like that I would expect to see the price at my local station go UP 15 cents today. 
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Replying to: fintail (Sep 15, 2008 2:44 pm)
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Replying to: oldfarmer50 (Sep 15, 2008 1:58 pm) Well, yes in fact. All the biggies should be unaffected. The independents buy surplus gas on the spot. Right now either there is no surplus or it is only available at an extremely high wholesale rate, higher than than the retail price being charged by Exxon and other similar places.
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Replying to: lemmer (Sep 15, 2008 1:14 pm) The financial difficulties we're now seeing are about financial stocks - including many BANKS. So the problem isn't just whether you own stocks. The potential problem is bank failures, and a domino effect. And when more banks than normal fail - say after the 10th one, the FDIC runs out of $ to repay you. So your bank could be closed, and the FDIC is broke, and the federal government steps in and refinances the FDIC, and gets you your savings/checking money, but maybe 2 months later. Best advice today is not to keep too much $ in any one account or bank. Good advice right now is: split your $ amongst 5 banks. Gas will seem a lot more than $4/gal if you can't get to your $. |
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Prices at my local station dropped 2 cents yesterday. I filled up my car at lunchtime for $3.579. Last night, I took my wife's SUV to the same station - price was $3.559. Because the station is affiliated with a grocery store chain, I was able to save $.10/gal on each purchase. Still cost me over $90 to fill both vehicles, though. Does anybody think that we'll see prices below $3/gal? With oil trading at $90/bbl and trending down, it seems to me that this may be the case in some parts of the country (NJ?) |
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Automotive News & Views How does gas at $4 and higher impact you?
