Gas prices locally are around high $3.20's to low $3.30's a gallon, nationally the price took it's steepest drop and fell .35 cents a gallon. The price at the pump is down from July's high of over $4.00 a gallon, receding by approximately .80 cents a gallon from July to now. Similar to the current situation on Wall St. where W. and Cheney are being blamed and forget about lenders and people buying homes they could not afford, while gas prices were on the rise, W. and Cheney took all the heat for conspiring with big oil to drive up the prices.
Who gets the credit for de-gouging people?
19 comments:
I wonder if DD will link this weeks Saturday night Live skit---which showed Pelosi, Bush and Barney Frank (a model Roman Senator) and a few of the risky example homeowners.....I don't think so, it seemed to be "off agenda"
Come on IV, the drop in gas prices is a relfection of the economic crash. Yes, this is the fault of Bush and his philosophical brethren, and while a drop in gas prices is welcome, it's a symptom of the overall mess we're in.
Most financial experts are agreeing that the decline in gasoline prices comes as tightening credit markets, bank failures and rising unemployment claims indicate that the U.S. is entering a recession thus curtailing fuel consumption. It must be true, because FOX news is saying that too.
Most economist that I have listened to lately have been saying this:
The decline in gas prices comes as tightening credit markets, bank failures and rising unemployment claims indicate that the U.S. is entering a recession, curtailing fuel consumption.
It must be true, because I also read it on FOX NEWS.
Hi #1
I didn't see it but I'll go look it up.
DD
When W took office, gas was $1.46 per gallon. Case closed.
When GW took office, buildings were exploding. I agree, case closed.
Nope, the Bush/Cheney administration has been the best ever. They've had a bit of bad luck, that's all. They needn't take the blame for anything. Let's just blame the disasterous last 8 years on Clinton and then on Obama. We need to start a campaign to get Bush and Cheney's faces carved into Mt. Rushmore. We need to build a couple of aircraft carriers to name after them and we need Cheney's face on the penny and Bush's face on the dollar. Best President/VP team ever!
If there truly is a "credit crunch", meaning there is very little money to lend, how come the banks are only paying depositors 0.45 to 1.25 % on their deposits?
Why hasn't demand escalated prices that the banks pay for capital? Would that not encourage Americans to Save, Save, Save???
Open your eyes people the economic crash is all contrived by the Democrats who run congress just in time to get Obama elected.
1:27 PM
It is called cost of funds or spread with banks buying the use of your money while lending the use of it.
The credit crisis has caused tightening of lending and coupled with the economic situations which has caused good borrowers to not borrow, it has reduced demand which reduces what they pay you.
political iv said...
1:27 PM
It is called cost of funds or spread with banks buying the use of your money while lending the use of it.
When the spread reaches over 3 or 4 percent and up to 12%. I like to call it screwing the depositors.
You Mr Wiley have no clue what so ever and when you find a bank making a 12% spread or even greater than 4% let me know. Other than that you are an absolute waste of oxygen.
Why I bothered to even respond to your foolishness is a wonder, after reading your nonsense and you defending Aubertine so vigorously it really should make someone think twice on whether they should vote for Aubertine.
political iv said...
You Mr Wiley have no clue what so ever and when you find a bank making a 12% spread or even greater than 4% let me know. Other than that you are an absolute waste of oxygen.
Banks in Delaware are often the worse. Paying their depositers 2.5% at the most while charging as much as 22.5% for credit card loans.
My local bank is giving 1% on deposits and is loaning out that money at 6 to 7 %.
PIV, I think you confused the spread between the federal funds rate and the prime lending rate and the spread between funds on deposit with the local lending rate.
I am not confusing anything and if you think the bank's spread is limited to what they are paying "you" on your 1% passbook savings and what they lending to "you" at, you proved my earlier point.
Or if you are leaving money in a passbook savings or getting 1% on a CD, then again you just proved my earlier point.
Case closed.
That is the stupidist excuse for not saving I ever heard, IV you better stick to politics.
I blame the guy who was prez just before Hoover. Who was that? I'll bet it was his fault.
We gotta get over this.
And wiley, have you ever watched anything on FOX news? Don't believe everything you're told and don't repeat everything you're told to. Mix it up with different people. Don't just go to donkey parties.
have you ever watched anything on FOX news?
baaWAHahaahahahahahahahahah
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