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Genius!!
See Also:
The Case for More QE
Sarcasm Disclaimer
Source Data:
U.S. Census: Monthly & Annual Retail Trade
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
12 hours ago
6 comments:
Maybe internet sales have hurt department store sales independent of gas prices.
No matter, "pumping" up gas prices is indeed a stroke of Genius!
Perot's "Giant Sucking Sound" was actually two siphons -- the mfg outsourcing deficit + energy trade deficit.
Arguably if free trade didn't come with trade deficits we'd be better off overall -- more stuff at the end of the day and still have the money back in our economy.
With deficits, we've got the more stuff perhaps, but minus the money. Much of the mfg deficits we do suffer though are Triffin Dilemma-sourced, where our partners have to run a surplus against us to be able to pay the oil producers for what we need.
So in a large way ALL the money being sucked out of our economy is ending up in oil's pockets.
The endgame here is . . . odd. Eventually a deus ex machina will appear that allows us to reduce energy's footprint in our GDP.
I love that retail report's granularity, good data is good data.
I calculate $400/mo per-capita automobile cost -- not counting liability insurance and medical expenses due to traffic accidents, pollution, etc.
Gasoline is $150/mo alone -- per capita!
Ouch. Insane. Unsustainable without cutting back household expenditures somewhere else.
I think I burned $50 total in gas this summer. I am not a normal American -- I'm beating the rush in living virtually, LOL.
Good thing about living in Tokyo is that there's zero need for a car, as long as you can deal with being out in the weather, LOL.
Troy, 60USD so far this year for filling up rentals when I needed one. Cambridge, MA. My bicycle is awesome! On my ride home from work I pass one of these women only health clubs. All glass and bright and open as modern architects like it, and you can watch the women in there on their bicycles, trampling along but not never moving and getting anywhere. Each time that I pass I realize that there is so much potential for the better in this country, so much! If just sanity would suddenly materialize.
I think I burned $50 total in gas this summer. I am not a normal American -- I'm beating the rush in living virtually, LOL.
I spent a grand total of $292 on gasoline over the last year ($74 of it was driving over to see my family on the 4th of July).
Abnormal for the win!
Anonymous,
The world is indeed comic, but the joke is on mankind. - H.P. Lovecraft
mab,
No matter, "pumping" up gas prices is indeed a stroke of Genius!
Yes! We need more of that in order to prosper!! ;)
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