Tuesday, June 16, 2009

$3 a gallon by July 4th

Was re-reading the great Gatsby again last night for the umpteenth time. And while reading the part that describes Cody, the Copper millionaire, I got side tracked to thinking about the economy again. Specifically how we keep spending money we don’t have and need to borrow from other nations and the impact it will have for poor folk the likes of you and me.

It seems to get worse, I mean the State of California and major cities within its borders such as Los Angeles don’t have a budget but still wasting money left and right – like giving a $2 million dollar victory parade for the NBA Champion Lakers when they closing schools left and right and classrooms have 50 or more students. True the NBA will pay half of the $2million but still is another example of wasteful government spending.

My concern is that folk keep on doing things just to do them, not because they will work. All of them, Obama, Bush, Congress, the senate and the Federal Reserve Bank. Seems as if they do not know what we are dealing with, whether if this is a structural recession or a cyclic recession. As such, the stock markets may be artificially inflated and short term. I mean I know Tim Geithner is a smart man, but his approach to the economy is contradictive to Obama’s and seems more inline with that of Ronald Regan. After all, I remember when he was a Republican and worked for Kissinger and Associates .

I personally think that he and Summers may be setting Obama up for the Okie Doke, waiting until unemployment gets to near or above 11% nationwide before they actually start the real work on fixing the economy. And I will not be misled by their talk saying the dollar is getting stronger for to me, a weaker Euro doesn’t mean that the dollar is really stronger. The bigger part of the problem remains with Ben Bernanke, for I can’t tell if he will adjust interest rates in terms of current commodity values or the housing market? What ever the case this July 4th, don’t trip if gas is $3.00 a gallon in south - $5.50 or more on the west coast). Just my 2 cents, thanks F. Scott for making me see straight again.

25 comments:

Sista GP said...

I won't be surprised if it reached $3 before the holiday.

BTW, Lakers won? lol

Torrance Stephens - All-Mi-T said...

sista GP
I know the won but its a waste of money when they have a 30 billion deficit and send ious as tax refunds

brran1 said...

Unfortunately, I think we'll just have to let this situation play out before we know what really happens. And just like Sista GP, I call $3/gal gas by 7/2

Law said...

Is there any wonder why some countries promote bikes more than cars. The gov't doesn't have enough $ to fuel its own autos... why the hell let it trickle down to the ppl... But seriously... Unless you've lived outside of America, you're view and skew of America is from the inside projecting from the inner walls. America is TRYING to burst out of a cycle. She is trying to go places that she hasn't been in a while, do things that she has either never done or haven't done in a while... and she is definitely trying project a different attitude & style that says 'Trust me, I'm cool... No This Time I really Mean it...!" As the world changes things sometimes will take a dip before it gets better... Gas is going up thanks to middle east issues... As America tries to lessin its grips around her neck, the tighter the grip appears to be... HmMmm! Its sad, its reality, & unfortunately, we the people will suffer before things will get better...

Tha BossMack TopSoil said...

Shit is real out here my dude. I drop $50.00 on gas every 3 days and I don't even drive far.

The Ink said...

Only way to stop the rise of gas is to Cut consumption.

If you aren't altering consumption then you are part of the problem.

Even if gas tops 3 by 7/2 it will be back to what it was pre Summer by Labor day.

ANGELINA said...

Gas is already at $3 here in LA. I can't believe they're spending that much on a parade! I'm proud of my Lakers though :)

And The Great Gatsby is my favorite book. I've read it too many times to count.

A.u.n.t. Jackie said...

I already filled up my tank today paying $3.29 a gallon. The cost of living in California is in no comparison to most of the country, except maybe NYC..

Ya'll don't want no parts of what we pay to live in Calfornia and with that cost it's easy to see how our state has gone into poverty but you have to also examine what's happening to the little industry that California has and how and why the cost of Gas did us under.

California was once holder of the largest ports and countries would ship into California and then transport by ground, however the rising cost of fuel has made it impossible for for companies to afford ground transportation and now you see smaller ports doing more volume closer to the east coast...

We're you're looking at billions the Laker Parade isn't a drop in the bucket and when you look at a city whose main industry is providing entertainment world wide and is unsupassed by none...a parade ain't shit compared to how Hollywood spends money to stay Hollywood!

amourra said...

already at $3.00 in South Orange County, CA. Ugh!!!

Glad people mad a fuss about the use of tax dollars for the parade...someone has since stepped up and donated the $ so the city won't have to pay....donated or not, what a waste of 2 mil!

Meikmeika said...

Just keeps getting worse...

Saule Wright said...

I get so tired of being mistreated...

rainywalker said...

The price of gas is on the rise and each state and our country need to make some hard decisions. Why is California $32 billion in the hole? $10 billion is spent on people who are not even citizens each year. So waht do we do? Soak the citizens of California with more taxes? Then where is this 1.5 trillion dollars coming from to pay for health care? Raise taxes and let the poor die before they have use of the system? Or let them use the new system and get less health care? Perhaps they will just die due to lack of dog food? How are you going to feed your familly?
I sometimes wish I could go back to Vietnam. At least there I knew who to trust, where my next cold meal was coming from and if we died, we would die as brothers. No questions to ask, no hate and knowing we were, "the captains of our" souls.

a.eye said...

I agree about the wasteful spending of the government and other agencies. And I also think that there may be some sort of underground plan to keep things going poorly until people start blaming the prez. So far people still see it as something that he inherited, but soon (if not already by some news reports) the tide will change and people will start questioning President Obama.

Rich Fitzgerald said...

Man, I'm trying to hold my tongue.

Yesterday, I was thinking that this sure reminds me of the 80's when Reagan was in office. Maybe Obama will get a nickname out of it like the Big Gipper did.

Craigjc said...

yeah it'll be $3 next week.

jessi_composed said...

I agree with brran1 that it will just have to play out to know the exact effect. But there's no denying the situation is bleak.
http://www.newsy.com/videos/california_s_collapse_whose_problem_is_it

CC said...

$3 a gallon? Hell to the no bobby, hell to the no. Sadness.

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blackgirlinmaine said...

As always you are speaking truth and yeah, I agree gas will be $3 a gallon all over soon. Even in my little corner of the US, the prices are getting crazy again. Yet they set us to now think oh gas is cheap....Um, no its not but that's another story.

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