Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:11 PM

GasBuddy News Article

53
votes
Rising gas prices crimp Americans' spending

EnidNews -- WASHINGTON — Higher gas prices are crimping consumer spending and slowing the already-weak U.S. economy. And they could get worse in the coming months.

The Federal Reserve this week took steps to boost economic growth. But those stimulus measures are also pushing oil prices up. If gas prices follow, consumers will have less money to spend elsewhere.

The impact of the Fed's actions "is likely to weigh on the value of the U.S. dollar and lift commodity prices," said Joseph Carson, U.S. economist at AllianceBernstein. "We would not be surprised if (it) fueled more inflation in coming months, squeezing the real income of U.S. workers."

Americans are already feeling pinched by high unemployment, slow wage growth and higher gas prices.

Consumers increased their spending at retail


Read the Full Article

Submitted Sep 16, 2012 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Rising gas prices crimp Americans' spending Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,985
Points:2,221,965
Joined:Nov 2008
Message Posted: Sep 22, 2012 1:43:41 AM

MrL: good ideas, too bad, they won't ever be put into place (neither party, not just one or the other will do what it takes to get to a better economy).
Profile Pic
MrLefty0706
Champion Author Chicago

Posts:4,019
Points:959,660
Joined:Apr 2012
Message Posted: Sep 17, 2012 11:33:47 AM

In order to increase comsumption of goods we must have a reduction in unemployment. Wage increases should remain modest so that inflation does not take off.
Profile Pic
07skydriver
Champion Author Ohio

Posts:5,555
Points:1,576,875
Joined:Feb 2009
Message Posted: Sep 17, 2012 6:40:30 AM

If consumers stop buying crap they don't really NEED then they might be able to put their cars in the garage.
Profile Pic
clpassenubye
Champion Author Los Angeles

Posts:3,695
Points:1,270,740
Joined:Mar 2011
Message Posted: Sep 17, 2012 12:39:14 AM

obvious
Profile Pic
rcornel
Champion Author San Diego

Posts:2,003
Points:698,000
Joined:Jun 2012
Message Posted: Sep 17, 2012 12:23:50 AM

No joke!
Profile Pic
SHEP20715
Champion Author Maryland

Posts:11,157
Points:2,324,790
Joined:Nov 2007
Message Posted: Sep 17, 2012 12:14:49 AM

No surprise here
Profile Pic
12766
Champion Author New York

Posts:4,995
Points:2,070,015
Joined:Oct 2008
Message Posted: Sep 17, 2012 12:10:47 AM

OK
Profile Pic
ciimike
Champion Author Nevada

Posts:4,731
Points:1,183,030
Joined:Aug 2005
Message Posted: Sep 16, 2012 11:50:15 PM

Any surprise here? Gas prices may be rising, but unless you work for the oil or fuel companies directly, the salaries are staying the same or lowering still.
Profile Pic
frostyWV
Champion Author West Virginia

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: Sep 16, 2012 11:49:16 PM

crimping us to death.
Profile Pic
TFowler513
Champion Author Memphis

Posts:3,824
Points:1,951,060
Joined:Mar 2008
Message Posted: Sep 16, 2012 11:45:36 PM

High gas prices and underemployment is a poor combination.
Profile Pic
DJRIO
Champion Author Miami

Posts:10,918
Points:2,037,585
Joined:Jan 2008
Message Posted: Sep 16, 2012 11:42:04 PM

devaluing the dollar causes hyperinflation. all because government doesnt take care of fiscal policy and the budget.
Profile Pic
rawdog1313
Champion Author Lexington

Posts:4,878
Points:2,027,045
Joined:May 2008
Message Posted: Sep 16, 2012 11:36:41 PM

Yeah, just wait till Mitt the Twit gets in there...Yeah, he'll fix it ..Bahahahahhahhahahhahahha!
Profile Pic
Dragnet
Champion Author Arizona

Posts:18,147
Points:3,499,880
Joined:Jul 2004
Message Posted: Sep 16, 2012 11:36:38 PM

Oil czars and the politicians think the public is totally stupid and they we will believe all their lies. It's bad enough we have the chief of liars in the WH and he wants our vote. Not in this life time. The oil clown are as stupid and liars as the liar politicians. All they want is to line their pockets with more profits from us. What a bunch of CRAP!
Profile Pic
pastorpaulcg
Champion Author Virginia

Posts:3,615
Points:777,635
Joined:Dec 2010
Message Posted: Sep 16, 2012 11:33:33 PM

QE3
Profile Pic
Grumpy0521
Champion Author Ontario

Posts:4,793
Points:1,283,885
Joined:Dec 2008
Message Posted: Sep 16, 2012 11:31:14 PM

And it's having a boomerang effect on the economy.
Profile Pic
sprocketsplines
Champion Author Washington

Posts:4,265
Points:1,460,345
Joined:Oct 2010
Message Posted: Sep 16, 2012 11:29:54 PM

Consumers must feel like they're becoming puppets of the oil masters.
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:10,767
Points:2,493,985
Joined:Jul 2007
Message Posted: Sep 16, 2012 11:29:08 PM

yea
Profile Pic
jodybull
All-Star Author El Paso

Posts:767
Points:140,880
Joined:May 2012
Message Posted: Sep 16, 2012 11:28:59 PM

Americans waste! That's it, bottom line. Maybe this so-called "crimping" is a good thing to make Americans get real and only buy what they need, and save the rest.
Profile Pic
joel27nc
Champion Author Raleigh

Posts:13,177
Points:2,467,020
Joined:Mar 2008
Message Posted: Sep 16, 2012 11:28:51 PM

It's called inflation.
Profile Pic
bridgerunner
Champion Author Virginia

Posts:9,648
Points:1,616,985
Joined:Jul 2009
Message Posted: Sep 16, 2012 11:26:19 PM

Crimping is a kind description.
Profile Pic
mpg611
Champion Author Cleveland

Posts:4,983
Points:1,181,095
Joined:Apr 2011
Message Posted: Sep 16, 2012 11:25:49 PM

Well if this doesnt show that electing a President based on pointless social, cultural and religious issues DOESNT WORK then..........good luck.
Profile Pic
Focus2
Champion Author Illinois

Posts:8,163
Points:2,111,215
Joined:Mar 2006
Message Posted: Sep 16, 2012 11:23:25 PM

High gas prices during the Bush administration is what brought us into a recession two years before the banks went bust. We couldn't afford to spend with over $3 a gallon gas then finally over $4.
Profile Pic
RangerTrainer
Champion Author Ottawa

Posts:4,905
Points:1,202,675
Joined:Nov 2010
Message Posted: Sep 16, 2012 11:22:35 PM

Times are tough and prices aren't dropping here.
Profile Pic
1fulltank
Champion Author Buffalo

Posts:10,315
Points:2,119,265
Joined:Nov 2008
Message Posted: Sep 16, 2012 11:22:01 PM

...worse than it already is.
Profile Pic
Dodge_Me
Champion Author Atlanta

Posts:2,222
Points:1,020,940
Joined:Mar 2006
Message Posted: Sep 16, 2012 11:20:59 PM

At least prices are falling
Profile Pic
10k
Champion Author North Carolina

Posts:24,803
Points:2,863,925
Joined:May 2006
Message Posted: Sep 16, 2012 11:17:20 PM

what spending ??..we unemployed people only buy what we need to survive..
Profile Pic
LilRedWagonIN
Champion Author Indiana

Posts:10,422
Points:2,126,375
Joined:Oct 2008
Message Posted: Sep 16, 2012 11:16:46 PM

Not crimping; but rather strangling to death. The Fed looks at the economy from an academic perspective or through a political lens, not on real world effects on the common man.
Profile Pic
Number43
Champion Author Lexington

Posts:11,433
Points:2,250,215
Joined:Oct 2008
Message Posted: Sep 16, 2012 11:15:29 PM

How is this a surprise?
Profile Pic
jem069
Champion Author Detroit

Posts:4,525
Points:1,157,135
Joined:Jan 2011
Message Posted: Sep 16, 2012 11:15:00 PM

Ok
Profile Pic
rtw777
Champion Author Florida

Posts:12,022
Points:2,453,870
Joined:Jan 2008
Message Posted: Sep 16, 2012 11:14:51 PM

Everything is going up except wages.
Profile Pic
CocoPaz
Champion Author Santa Barbara

Posts:6,605
Points:934,205
Joined:Jun 2012
Message Posted: Sep 16, 2012 11:13:33 PM

c'est vrai. (that is true)
Profile Pic
CivicMA
Champion Author Boston

Posts:4,569
Points:1,144,565
Joined:Jun 2011
Message Posted: Sep 16, 2012 11:13:09 PM

Well since you can only spend the same dollar in one place/time, you might think gas prices may have an impact! We aren't allowed to mint our own money in the basement like the Feds do!

Gov't inaction won't help any either.
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:14,827
Points:2,690,070
Joined:Dec 2006
Message Posted: Sep 16, 2012 11:11:36 PM

Owebama says it's Bush's fault...
Profile Pic
7SPEEDY7
Champion Author Flint

Posts:3,526
Points:1,197,120
Joined:May 2011
Message Posted: Sep 16, 2012 11:09:58 PM

Ya Think!!
Profile Pic
tpguess
Champion Author San Diego

Posts:3,806
Points:925,310
Joined:Jan 2012
Message Posted: Sep 16, 2012 11:09:54 PM

And... my President cares
Profile Pic
crreed1
Champion Author West Virginia

Posts:4,425
Points:3,067,660
Joined:May 2005
Message Posted: Sep 16, 2012 11:09:51 PM

old news
Profile Pic
Hi1
Champion Author Ontario

Posts:7,163
Points:2,276,590
Joined:Jun 2007
Message Posted: Sep 16, 2012 11:08:51 PM

Not good.
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: Sep 16, 2012 11:08:21 PM

Worse for those on fixed income.
Profile Pic
cwashi3324
Champion Author Cincinnati

Posts:3,509
Points:734,770
Joined:May 2009
Message Posted: Sep 16, 2012 11:08:11 PM

No kidding!
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,345
Points:1,275,050
Joined:Jan 2010
Message Posted: Sep 16, 2012 11:07:39 PM

No really? Surely you jest.
Profile Pic
Rooster922
Champion Author Wilmington

Posts:4,157
Points:1,051,160
Joined:Jan 2009
Message Posted: Sep 16, 2012 11:07:30 PM

Not every one.
Profile Pic
ItsMorph
Champion Author Grand Rapids

Posts:36,460
Points:3,785,460
Joined:Mar 2004
Message Posted: Sep 16, 2012 11:07:09 PM

Or at least those in charge of it. And those who appointed those who are in charge of it.
Profile Pic
WGW1
Champion Author British Columbia

Posts:3,657
Points:977,110
Joined:Jun 2010
Message Posted: Sep 16, 2012 11:06:58 PM

i know i'm hurting
Profile Pic
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: Sep 16, 2012 11:06:57 PM

Eating out less than last year.
Profile Pic
ItsMorph
Champion Author Grand Rapids

Posts:36,460
Points:3,785,460
Joined:Mar 2004
Message Posted: Sep 16, 2012 11:06:45 PM

Your dollars are being destroyed by the Fed and things like QE3. Get rid of the Fed!
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:4,389
Points:999,490
Joined:Mar 2012
Message Posted: Sep 16, 2012 11:06:24 PM

More Inflation
Profile Pic
seeyardee
Champion Author Sacramento

Posts:11,190
Points:2,398,425
Joined:Apr 2008
Message Posted: Sep 16, 2012 11:06:11 PM

Stop driving SUV's. It's your own fault.
Profile Pic
regout
Champion Author Quebec

Posts:5,550
Points:1,439,180
Joined:May 2010
Message Posted: Sep 16, 2012 11:05:58 PM

Staying home.
Profile Pic
PrinceLH
Champion Author Ontario

Posts:5,332
Points:1,148,920
Joined:Jun 2011
Message Posted: Sep 16, 2012 11:03:17 PM

That's why we're all slowly losing our savings. It's a slow and steady drain.
Profile Pic
pgerassi
Champion Author Milwaukee

Posts:13,539
Points:2,742,115
Joined:Apr 2007
Message Posted: Sep 16, 2012 11:03:02 PM

NOT NEWS
Post a reply Back to Topics