Oil Rises to a Record $111 on Weak Dollar, Gas-Supply Decline
We watch the prices rise at the pump and we all know that those increasing costs trickle down through our foods and materials of everyday life.
In my area (Sacramento), I have seen the gas station I usually go to post $3.03/gallon about three weeks ago climb rapidly until yesterday's sign read $3.49/gallon. That is one of the cheapest around. It is over $3.70 in places around town. I fear it is not over and news of today's dollar losing more value strikes me that those $4/gallon predications will arrive prematurely.
More often we will see increased mass transit ridership and people trading me their 18gal/mile SUVs in for smaller cars or hybrids. You most likely see it in your area as well.
But that is only the getting around, the increase of gas makes everything else increase in step. The groceries are going to get our of hand and we have already seen the price of milk, bread and other basics jump by 25% in the past year. Remember when the Germans ran the printing presses around the clock to pay off their debt and in turn driving their currency into the ground so it literally took a wheel barrow of money to buy a loaf of bread!
We need change... NOW! Shrub is stuck in his bubble saying things are great, Thinkprogress has another article about his rosy rhetoric on the economy. This economy will be sunk by the time a Democrat takes office if these trends continue.