just once: blog 
just once's blog
when gas hits $4.50 per gallon....
Published May. 9, 2008
Predictions are that some time within the next 6-12 months gas will reach $4.50 per gallon. How is this going to impact your life?
What level will it take for Americans to change their lifestyle?
The price increases to date have done little to reduce demand. The free market being what it is will increase the price until demand is balanced with supply....
close40 Comments
hot topics
(8 votes) durham police look for missing boy
(4 votes) 911 caller: 'i think this baby's dead'
(2 votes) state lawmaker calls for gas tax holiday
most recent
Welcome to GOLO, where WRAL.com visitors can comment on stories and create profile pages, blogs and photo galleries.
You must be a registered WRAL.com user to use these tools. Click here to register or log in.
Shirley you must admit that negative growth is a lagging economic indicator. It must follow that the formal definition of "we're in a recession" can only be met after we've, well, had recession-ish conditions for 6 months. Which is pretty much on par with saying "well, that's 6 dead coal mine canaries, I guess we really DO have a problem."
Perhaps Made's statement of "We ARE in a recession" could be expressed as "We are so totally showing the hallmark signs of an economy entering a period of slowing-to-negative growth, inflation, expanding debts, and steady-to-falling real wages." But that could really eat into your 1000 character limit.
I'm all for definitions in good debate, but, whipping out the recession definition in a current events discussion is pretty useless: it's only useful in historical context.
May 12, 2008 2:29 a.m.
We are self-employed and we rely on gas to run our machines. Sad fact of the matter is, we have to increase our prices to account for the gas costs. Since our quotes are good for 30 days, we estimate for what gas prices might be at the end of the 30 days. So if gas is $3.25 today, we price at $3.75 or $4.00. So far, all of our customers understand this and none have complained.
GOLO member since July 18, 2007
May 11, 2008 11:02 a.m.
GOLO member since July 20, 2007
May 10, 2008 6:04 a.m.
GOLO member since January 20, 2008
May 10, 2008 12:08 a.m.
No offense, Made, but that's like insisting it's nightime when the sun goes behind a cloud.
Night it night, not just dark.
Recession is 2 consecutive quarters of negative growth. Period.
GOLO member since July 17, 2007
May 9, 2008 8:53 p.m.
GOLO member since September 11, 2007
May 9, 2008 7:58 p.m.
http://wral.com/golo/blogpost/2858351/
At some point we will reach that magic number that will force us to adapt and I think we can. I have seen an increase in bus ridership the past couple weeks and people are at least thinking about fuel efficiency. I expect some people think this is a cycle and that prices will eventually fall back.
GOLO member since October 4, 2007
May 9, 2008 5:41 p.m.
GOLO member since July 17, 2007
May 9, 2008 4:52 p.m.
GOLO member since July 17, 2007
May 9, 2008 4:33 p.m.
You will not be able to tell if we are in a recession until the second quarter GDP numbers come in. oldschool is correct in saying it hasn't been 'officially' designated a recession. That is not the same thing as saying we are NOT in a recession. The NBER will eventually get around to declaring it one way or the other.
GOLO member since January 29, 2008
May 9, 2008 3:57 p.m.
Please log in to add comment.