Saturday, February 25, 2012

Gasoline Prices Climb for 18th Day in a Row

The price of unleaded gasoline inched higher again overnight, rising 2.7 cents to a nationwide average of $3.67 a gallon on Saturday, according to the motorist group AAA. That's almost a 30-cent increase from a month ago when the nationwide average was $3.38 a gallon.

Average prices for regular gasoline are more than $4 a gallon in California, Alaska and Hawaii, and are just shy of the $4 mark in New York, Connecticut, and Washington, D.C., according to AAA. The lowest average gas prices are in Wyoming, Colorado and Utah, where a gallon is going for less than $3.20.

This is only the beginning. There are very specific reasons that oil and gasoline lead other prices higher. Given the amount of money printing that is being conducted by the Federal Reserve, prices across the board will climb much higher.

This is another economic event that has been missed by Paul Krugman, Ben Bernanke and other Keynesians. They missed the bust, they missed the manipulated boom and they are going to really get smacked hard by the coming price inflation. Bottom line: Their economic models are trash.


  1. Yes, but will that be enough to demolish and discredit Keynesian "economics"?

  2. Bob,

    A systematic lexicon for dealing with Krugman would make spreading this message easier.

    Krugman gap: the space between Core PCE and annualized CPI.

    Kruggie, noun, a unit of measure defined as one percentage point difference between Core PCE and annualized CPI:
    "The Krugman gap increasaed another two Kruggies this month."

    Kruginate [inf. marker: "to"] verb, to propagandize an issue for transparently ideological purposes; especially the ideological purpose of subjugating individuals to state-sponsored tyranny via economic policies that lead to enslavement:
    "The New York Times again Kruginated the issue of inflation this week, with their story regarding..."

    Krugger, noun, agential; any adherent of NeoKeynesianism who evangelizes, in cohort or independently, the Krugman penchant for centralized money debasement:
    "Well-known Krugger Robert Reich appeared yet again on the Kudlow Report last night..."

    Kruggish, noun.; a coded language having or exhibiting the property of favoring centralized money debasement:
    "You haven't read Weisenthal until you've read him in the original Kruggish."

    Krugan, adj.; having or exhibiting the property of favoring centralized money debasement:
    "The FOMC deepened its Krugan intentions at this week's central committee meeting."

  3. Could be an indicator that war with Iran is close.

  4. In Sweden, gasoline prices are 8 dollars a gallon. Relative to other countries, especially in Europe, gas is ultra cheap in the United States.

  5. Between QE 1, QE 2 and whatever future QEs plus a possible attack on Iran, it would not surprise me at all to see oil go to $150. If Israel does actually attack and Iran tries to close the Straits of Hormuz..whew, Katie Bar the Door - could easily be $225 and $6-$7 a gallon.