An "Angry Market" for Commodities
Gasoline Prices More than Double Under Obama: $1.84 to $3.85
Excerpt:
Average retail gasoline prices have more than doubled under President Obama, according to government statistics, rising from $1.84 per gallon to $3.85 per gallon.Comment: Larry Shover ... friend from way back. "Food prices will go up"
Larry is the manager of the Managed Futures Solutions funds
ReplyDeleteStar Tribune today: Rising gas prices cut into US consumer spending; Fed moves could push prices higher
ReplyDeleteHigher 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."