Quote:
Originally Posted by After Shock Media
Yes I really care as it matters to the people who buy my memberships.
It not only eats their checks up with buying gas, but everything from food to electricity costs rise due to the rising fuel costs.
Wages are not increasing, well they are for minimum wage but by the time they will go into effect the increases will have gone way above and beyond any percentages gained in the new wage. Assuming they still will have a job as some companies are cutting back on such jobs due to rising costs.
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Good point but isnt one of the problems really that people already struggling could borrow money to buy homes / cars etc and that caused the credit crise as we see it now. Would that have been avoided if energy costs was 25-35% higher 4-5 years ago ?
For the same reason the interest rate from the FED is very low, making the dollar weak and that increase the price of oil.
Nobody wish to invest in the dollar when the rate is so low (ECB rate is double) but if the rate is increased 100 of thousands of homes will be put into foreclosures. Is owning your home / having a car really for everybody? You are paying now a higher costs for energy because someone bought a house they could not afford (multiplied with a couple of millions)