More expensive gas pushes up US wholesale prices. But “core inflation was tame.” What’s “core inflation”? Why, the cost of stuff you buy once a year, if that much. But, as the astute partisan hack at the WaPo said, paying a little mor for gas is a problem only for long distance commuters…. as well as people who like to eat, wear clothes, heat their homes, etc, etc.
View Comments (10)
And we the little people are paying for it. So far, Mooochelle has not said let them eat cake. Though cake is against her "guidelines" for the rest of us.
Core inflation is based off the prices of all the cheap plastic shit imported from China, versus the deflation of the dollar from running the printing presses 24/7.
"Somehow we have to figure out how to boost the price of gasoline to the levels of Europe," said Dr. Steven Chu, Director of the Lawrence National Laboratory, in an interview with the Wall Street Journal in September 2008.
We ended that year with an average U.S. retail price of $1.67 for all grades of gasoline on December 31, 2008.
In contrast, the price of a gallon of regular gasoline that summer was $6.78 in Greece, $8.24 in Italy, and $9.39 in the Netherlands, according to Eurostat, the statistical office of the European Union.
Dr. Chu's proposal to hike gas prices in the United States to European levels was published in the Wall Street Journal on December 12, 2008. Six weeks later, on January 21, 2009, he was sworn into office as President Obama's Secretary of Energy.
The difference between the Dutch gasoline price of $9.39 and the U.S. price of $1.67 is $7.72 per gallon. The U.S. Energy Information Administration reports that the average U.S. household purchases 1,100 gallons of gasoline per year. That means a $7.72 price increase per gallon would cost the average American family an extra $8,492 per year.
For the middle fifth of the U.S. population in terms of income, the $8,492 price hike per year would cut their after-tax income by an average of 15 percent.
For the bottom fifth of U.S. households, the $8,492 price hike per year would cut their annual income by 47 percent.
Raising U.S. gasoline prices to European levels, said Chu, would encourage -- or, more accurately, force -- Americans to move to neighborhoods closer to work and dump their trucks and SUVs for Chinese bikes and scooter-like Smart Cars.
http://spectator.org/archives/2012/03/13/the-chu-plan/print
I just hope ammo doesn't start going back up.
Somebody's lying. Every time I turn around there's and increase. Rent going up, insurance going up, cost or repairs going up, worker's comp going up, food going up, coffee going up. The idiot press takes whatever bullshit Obama feeds them and puts it up.
The price for gasoline has decreased from $1,85 per gallon to $4.79 per gallon.
We should be thanking Presidebt 0bamb for that decrease.
How about we throw him a "goodby party" in November? Seems appropriate to give him a big send off.
I found Chu's secret formula...
http://pictureisunrelated.memebase.com/2012/03/01/wtf-photos-videos-poop-shoot-scootin/
I'll bet Obama's staying warm and cozy under all the cover provided by his lamestream media pals.
That's why they want more money, more benefits, more subsidies, MORE, MORE, MORE!!! OCCUPY, OCCUPY, OCCUPY!!! It's got to come to a head soon.