Posted by jdemaris on December 07, 2010 at 05:48:25 from (67.142.130.23):
In Reply to: how about the economy posted by Rick Deere on December 07, 2010 at 03:43:47:
Our economy and culture has many problems - but the price of gasoline seems to be a pretty small factor. It's been artificially low for a very long time - and much gets wasted as a result. Same with diesel and jet-fuel.
In the late 60s-early 70s - gasoline was 32 cents per gallon, a brand-new cheap car was $1000, and median incomes for households around $18,000 per year (where I lived). You could also buy a fixer-upper house for $10-$20K.
Now? Gasoline here is around $3.15 - i.e. 10X more. A new cheap car around $11K - also 10X more. Median household income in the USA $35-98K depending on region. And you can STILL buy fixer-upper houses for $10K-$20K. Also, today many with low incomes are getting tons of government give-aways for food, healthcare, heating, housing, etc.
I like having cheap gasoline just like anybody eles - but I also know these price hikes are pretty insignificant as compared to some other factors.
I keep hearing how our US economy et. al. must grow constantly or we are all doomed. OK. Tell me how - on a planet with a finite size and finite resources - things can keep growing forever? Makes no sense with my poor math skills. Something more substantial than the price of gasoline needs to change.
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