Remember . . .
RISING COWTOWN GAS PRICES ARE JUST GETTING STARTED!!!
Here's a peek at the progress, or lack thereof, right now . . .
"The local average cost for a gallon of gasoline now stands at $4.61. That’s 40 cents lower than the national average, but $1.86 higher than this time last year, according to data compiled from 752 metro gas station by GasBuddy."
And so. . .
Given that gas prices fuel our economy for better and mostly worse . . .
ARE GAS PRICES GOING TO RUIN KANSAS CITY SUMMER 2022 FOR THE FADING MIDDLE-CLASS?!?
Consider . . .
- Locals won't have a lot of money to party because they need the cash to make it to work.
- Downtown day trips to hipster attractions will likely become more scarce . . . In turn that will give urban core merchants less money to work with . . .
- The recession is already underway and record-breaking gas prices provide another reason for party people to play it safe and drink alone.
Of course . . .
Those of us who don't like good times with strangers won't be too hurt by this particular economic consequence.
Nevertheless . . .
As we move forward it's important to remember the impact of COVID & recession as local politicos continue to rebuild the economy around tourism.
Read more via www.TonysKansasCity.com links . . .
Further reading . . .
Goldman Sachs analyst Damien Courvalin said Monday that gasoline prices could spike this summer because low supplies leave open the possibility of a possible shock, like were experienced in 2008 and in the 1970s. Goldman's head of energy research and senior commodity strategist told CNBC that a "gap to the upside" in gas prices is the "main risk that you have to keep in mind."
President Biden's bet on a rapid rebound from the coronavirus recession may have backfired. The president and his top economic officials rallied Democrats around a $1.9 trillion stimulus bill in March 2021, urging Congress not to repeat the mistakes of the Great Recession and cut off support for the economy too soon.
Stock futures tumble as recession alarm flashes red; Week Ahead: Fed decision in focus as inflation surges; Tesla seeking approval for 3-for-1 stock split; Gas prices top $5 a gallon; Biden readies Saudi Arabia visit and Bitcoin crashes to December 2020 low amid global rate surge
(Bloomberg) -- The hottest US inflation in four decades will push the Federal Reserve to raise interest rates more aggressively this year, and a recession may not be far behind.Most Read from BloombergChina Alarms US With Private Warnings to Avoid Taiwan StraitGlobal Rout Deepens as Outsized Rate Hike in Play: Markets WrapBitcoin Tumbles to 18-Month Low as US Inflation Impact SpreadsChina Is Walking Back Virus Loosening Weeks After Reopening'Party Like a Russian' Turns Toxic at Putin's Flagship
"I think we're in a particularly extreme situation right now," said Harrison Fell, senior research scholar at Columbia University's Center on Global Energy Policy. "I don't think many economists would argue sustained $5 gas prices would have minimal effects.
"I think when inflation is as high as it is right now, and unemployment is as low as it is right now, it's almost always been followed within two years by recession," Summers said. "I think they're wrong now if anyone's highly confident that we're going to avoid recession." U.S.
Boxer Jake Paul blasts Biden for gas prices, inflation, claims Biden voters are 'the American problem'
Jake Paul, a Youtube influencer turned professional boxer, stepped into the political ring Saturday slamming President Joe Biden on Twitter for the state of the economy and his frequent gaffes and incoherent sentences. He also said unrepentant Biden voters "are the American problem." Paul tweeted: "Biden accomplishments: 1. Highest gas prices2.
Developing . . .