Gas Crisis And Consumer Spending
Research conducted by market analysts (I’m alluding to people who have been acclaimed for having good foresight) in early 2008 on consumer spending habits does not paint the true picture of the current situation given the oil and food price trends. Commodity prices are increasing by the day. Rice is a staple food in my culture and I have seen the 20-pound rice price quadruple in the last three months: It follows the simple supply-demand curve, they say. That’s a no-brainer. Gas prices are driving me nuts. When I and my husband landed in the U.S back in mid 2001, gas was selling for $1.09 a gallon. Now it is selling for $4. See for yourself how much it has increased. I panicked when I moved to LA in 2003. The gas was selling for over 2 dollars in Newport, CA when the gas was priced at 1.30 in Tampa. Now, the differentials between high and low profile cities have diminished. It is trading at a ridiculously almost-flat high price everywhere. I don’t have a good understanding of......
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