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GasBuddy News Article

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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


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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
honda0105
Champion Author Tallahassee

Posts:24,351
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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).
MrLefty0706
Champion Author Chicago

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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.
07skydriver
Champion Author Ohio

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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.
clpassenubye
Champion Author Los Angeles

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Message Posted: Sep 17, 2012 12:39:14 AM

obvious
rcornel
Champion Author San Diego

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Message Posted: Sep 17, 2012 12:23:50 AM

No joke!
SHEP20715
Champion Author Maryland

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Message Posted: Sep 17, 2012 12:14:49 AM

No surprise here
12766
Champion Author New York

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Message Posted: Sep 17, 2012 12:10:47 AM

OK
ciimike
Champion Author Nevada

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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.
frostyWV
Champion Author West Virginia

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Message Posted: Sep 16, 2012 11:49:16 PM

crimping us to death.
TFowler513
Champion Author Memphis

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Message Posted: Sep 16, 2012 11:45:36 PM

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

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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.
rawdog1313
Champion Author Lexington

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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!
Dragnet
Champion Author Arizona

Posts:18,947
Points:3,694,930
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!
pastorpaulcg
Champion Author Virginia

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Message Posted: Sep 16, 2012 11:33:33 PM

QE3
Grumpy0521
Champion Author Ontario

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Message Posted: Sep 16, 2012 11:31:14 PM

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

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Message Posted: Sep 16, 2012 11:29:54 PM

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

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Message Posted: Sep 16, 2012 11:29:08 PM

yea
jodybull
All-Star Author El Paso

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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.
joel27nc
Champion Author Raleigh

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Message Posted: Sep 16, 2012 11:28:51 PM

It's called inflation.
bridgerunner
Champion Author Virginia

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Message Posted: Sep 16, 2012 11:26:19 PM

Crimping is a kind description.
mpg611
Champion Author Cleveland

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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.
Focus2
Champion Author Illinois

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Points:2,143,870
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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.
RangerTrainer
Champion Author Ottawa

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Message Posted: Sep 16, 2012 11:22:35 PM

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

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Message Posted: Sep 16, 2012 11:22:01 PM

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

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Message Posted: Sep 16, 2012 11:20:59 PM

At least prices are falling
10k
Champion Author North Carolina

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Message Posted: Sep 16, 2012 11:17:20 PM

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

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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.
Number43
Champion Author Lexington

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Message Posted: Sep 16, 2012 11:15:29 PM

How is this a surprise?
jem069
Champion Author Detroit

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Message Posted: Sep 16, 2012 11:15:00 PM

Ok
rtw777
Champion Author Florida

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Message Posted: Sep 16, 2012 11:14:51 PM

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

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Message Posted: Sep 16, 2012 11:13:33 PM

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

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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.
Bigwaynef
Champion Author South Carolina

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Message Posted: Sep 16, 2012 11:11:36 PM

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

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Message Posted: Sep 16, 2012 11:09:58 PM

Ya Think!!
tpguess
Champion Author San Diego

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Message Posted: Sep 16, 2012 11:09:54 PM

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

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Message Posted: Sep 16, 2012 11:09:51 PM

old news
Hi1
Champion Author Ontario

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Message Posted: Sep 16, 2012 11:08:51 PM

Not good.
tedjm1
Champion Author New York

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Message Posted: Sep 16, 2012 11:08:21 PM

Worse for those on fixed income.
cwashi3324
Champion Author Cincinnati

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Message Posted: Sep 16, 2012 11:08:11 PM

No kidding!
rahcat
Champion Author Grand Rapids

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Message Posted: Sep 16, 2012 11:07:39 PM

No really? Surely you jest.
Rooster922
Champion Author Wilmington

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Message Posted: Sep 16, 2012 11:07:30 PM

Not every one.
ItsMorph
Champion Author Grand Rapids

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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.
WGW1
Champion Author British Columbia

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Message Posted: Sep 16, 2012 11:06:58 PM

i know i'm hurting
Blue_Cruzer
Champion Author Lexington

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Message Posted: Sep 16, 2012 11:06:57 PM

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

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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!
boatfloyd
Champion Author Jacksonville

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Message Posted: Sep 16, 2012 11:06:24 PM

More Inflation
seeyardee
Champion Author Sacramento

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Message Posted: Sep 16, 2012 11:06:11 PM

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

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Message Posted: Sep 16, 2012 11:05:58 PM

Staying home.
PrinceLH
Champion Author Ontario

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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.
pgerassi
Champion Author Milwaukee

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Message Posted: Sep 16, 2012 11:03:02 PM

NOT NEWS
ManOfLeisureII
Champion Author Philadelphia

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Message Posted: Sep 16, 2012 11:02:34 PM

Get used to it
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