How long before we start seeing the economy tank because of gas

[Imagevision]

A lot of Wal~Mart trucks out there on those highways, perhaps even america's # 1 shopping store will begin to raise its prices? -- But there's always the 7-11?...

[Roland99]

1. Not until it hits about $4 on average nationwide

[KyuzoGator]

7. $4 is where supply chains start getting crippled.

It's all dominoes from there.

[Roland99]

9. $4 would be oil up around $100/bbl and means gas would be 250%

above where it was when * took office.


250%!!

[CrazyOrangeCat]

2. soon, I fear.

and the mom/pop stores will be the first to tank.

:(

[ray of light]

3. soon. Truckers are pulling over and not running.

As soon as they get serious and we join them, we will see the you know what hit the fan.

[joemurphy]

4. It'll be a tremendous drag on the economy.

It'll create severe inflationary tendencies that will cause the Fed to drastically increase interest rates. This will in turn inhibit growth and lead to job layoffs.

These prices aren't good. Anyone remember Carter's problems with the OPEC price hikes?

[Warpy]

5. We'll start seeing across the board inflation

and don't forget, that $75/bbl oil is for July's supply. It's backed off that high for now, but I sincerely doubt we'll se it go below $60 any time soon.

Wages still haven't recovered to the pre OPEC inflation levels of 1969. Since wages lag far behind inflation, it will be very interesting to see whether or not people are able to cope at all.

In the meantime, it's been a nice couple of days without Stupid publicly waving his dick around over Iran. I guess somebody must've connected the dots for him from the yapping to the commodity market to the rising gas prices to the falling poll numbers.

[dcfirefighter]

6. nah, we'll be alright

It will be tumultuous, but then the revolution will come....

[Joe Fields]

8. This is a false economy. It was already in the tank.

[Jayhawk Lib]

10. I have seen no evidence of it

in this area. It is probably a bubble and will burst someday but for now new housing additions are going up. Not cheap houses but high dollar large homes.

High gas prices has not stopped people from driving. Boeing is laying people off but the other aircraft plants are gong to hire them.

It has been a long time since I have seen things boom like this. Surly it is a bubble and will burst but it is not showing signs of that yet.

[stillcool]

11. Yeah...that's what I'm thinking....

..if the global corporations are supporting the stock market,...and they have already moved their manufacturing bases off-shore...it seems like the bottom will fall out for us...as far as consumer prices...but the market will chug right along with false data being supplied by the feds.

[RUMMYisFROSTED]

12. Yesterday.

[newswolf56]

13. What's happening is not so much a new crisis as an old crisis reaching...

proportions so huge the corporate propaganda machine can no longer cover it up.

For example, the huge increases in executive pay -- so that executives are given nearly $500 for every $1 a worker earns (when we workers have jobs at all) -- have created an economy in which no worker outside of high-tech has gotten a genuine raise since 1973, when Nixon first announced that deliberately imposed hardship would henceforth be official U.S. domestic policy -- this to use economic misery as a flail to beat Americans into ever-more-frantic participation in the capitalist rat race.

Union-represented workers have managed to keep up with inflation, but just barely, and all the rest of us have fallen steadily behind. This bitter evidence of class struggle has until now been swept under the rug by a variety of brooms wielded by corporate-media janitors and housemaids, but the fuel-price crisis is quickly laying bare the dirt: the ugly fact a skyrocketing percentage of U.S. citizens can no longer afford to live in this ever-more-Third-Worldish country. The economy will continue to worsen until major civil disorder breaks out, at which time we will see the genocidal suppression tactics perfected in Iraq employed to keep the "peace" here at home: the death of American liberty, the end forever of the American Experiment, the final termination of the American Dream -- the ultimate achievement of capitalism, the fulfillment of the precise purpose for which Bush was given the presidency.

As to the price of gas, I've been predicting for several weeks it will top $5 a gallon by Labor Day (if not well before).

[spanone]

14. Any second now.