Say Gas Hits News Today : Breaking News, Live Updates & Top Stories | Vimarsana

how about the word threshold. a apply that to a tipping point where all of a sudden this is just really bad for the economy. what is that? is that $5? is it $4? if gas let s say gas hits $4. on economic terms alone, that is not terrible. we ve been through this before and people have actually made some adjustments since we had $4 gas in 2008. people downsized their cars, people who were able to buy new cars and make adjustments, what economists worry about is the psychological impact. if people get this bunk er mentality that, oh, no, the economy is going downhill again because gas is now $4, they will stop spending money or spend less and, you know, that s what we need right now to get back to consumer driven economy. i think that s the bigger risk. when you look at the basic things we have to consume, gas, transport yourself to and from work, how about food? the inflation rate up there at 1.8%. meat, poultry, fish over 6% increase. that s right. ....

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