Gas prices in my area at $2.07?

[Archangel]

It must be the apocolaypse, or im dreaming. How the heck can the gas be this low? I read it has something to do with the elections but its still down even after Obama won. If it goes under $2 then I wouldn't know what to do with myself. It was almost $5 here about 1-2 months ago. I hope this change stays for a long time.

1.51 Here !!!!

one major problem.

We will have hyperinflation soon !!!

You will need to store food and put your money in commodities and physical gold and or silver.

Why do you ask?

The federal reserve is printing money like it's out of style.
Our tottal debt was 9 Trillion dollars. The federal reserve has promised to spend 7 trillion. It is insane!!!!!

Well, let's just do nothing and watch the world just collapse......

[kanabanoid]

still hanging at aro very close to $1.80+ here (no crying here) : ) and BTW how do i get a cool banner like that Arch, it is killing me : ) i wanna bost my stats ,too : )

[ZombieSlayer]

Arch printing more money that is literally worth less than it's face value is the wrong thing to do. The U.S. dollar isn't backed by anything but a government promise.

Printing more dollars is going to make the dollar worth even less.

The government needs to cut spending, collect outstanding debts, lower the interest rate, and put a salary freeze on all government employees (temporarily) to increase the net worth of the country and boost the value of the dollar.

[Archangel]

Arch printing more money that is literally worth less than it's face value is the wrong thing to do. The U.S. dollar isn't backed by anything but a government promise.

Printing more dollars is going to make the dollar worth even less.

The government needs to cut spending, collect outstanding debts, lower the interest rate, and put a salary freeze on all government employees (temporarily) to increase the net worth of the country and boost the value of the dollar.

I was just being "facetious".........I totally agree with you you on the cut-backs and I have a real problem with bailouts........it's like rewarding failure...........now, on the other side of the coin, if you do allow these banks and auto companies to go under, then your talking about huge depression size unemployment that doesn't even come close to what we have now. Take the Big 3 auto companies......if they go under, then your looking at least 3 million people unemployed (remember ripple effect like all the companies that make parts for them).......and the fact that the government would have to pick-up all their pensions of all the retirees.

The other thing about this bailout that concerns me is.......O.K. you give them the money.......who will buy enough of their products to make them profitable again. With credit as tight as it is and people holding off on making any major purchases right now, I just don't see the auto companies coming back unless a few things happen: First, the UAW is going to have to make some major concessions and assume pension responsibilities (this is the auto company's biggest expense) and secondly, they have to slim down operations. Now I've been doing a lot reading on this and they are doing this (2nd part anyways) but will take some time before all the companies begin to see black again instead of red. If they file for Chapter 11 bankruptcy (reorganization), they might have a chance as they would reduce their debt load, get new management and most likely a non-union workforce.

Now, as far as the bailout regarding the mortgage / banking companies, they need to be more responsible in who they give credit to, how much credit a person can assume and revise the interest rates (this is especially true on credit cards.......ever notice those banks that offer 4-5% then increase it up to 26-28% when you max out the card). Now, you may say that it's up to each person to manage their money and credit, which I agree to a point, but lenders must also be responsible when lending too. I found this out several years ago when I had to file for bankruptcy. See I started out with 2-3 credit cards and the banks kept giving credit increases as I always paid my bills on time. Well, as it so happens, I got married, needed things for the house (washer/dryer, TV, furniture, etc and ran up those cards. Got a few more cards so I could run on ( got more increases on those too)......pretty soon I was almost $90,000 in debt on just credit cards ( I had one card that had a $30k limit a few others that had $15k limits and a jewelers card that had a $10k limit) and pretty soon all the cards were maxed out. Now, mind you every card I got started out as a $500 - $1,500 card. My very first card started as a $500 card and over a period of 6 years turned into $30k........now couple that with a 26% interest rate and you begin to see my point. Not only was I at fault, but so were the banks in as far as the interest rates and the credit increases. The banks simply have to take some responsibility as well.

Now, you may say "Hey, just don't get that much credit".........well, here's the thing.......there's a lil thing called life and sometimes life throws you a curve ball or two.......I had a great paying job at one time, then I lost my job. So I took a job that paid a great deal less and that's when it began to snowball....real fast. You may say, "Well, just pay them off a cancel the cards" Well, when it's the middle of the week, you need gas to get to work or you have to pay a $350 heating bill to keep the heat on cause it's in the middle of winter and your using those cards to just meet your basic needs that's when things start to get ugly and this pretty much goes on throughout America.

I guess what this all boils down to is that there is no real "nice or easy" fix for the current mess were in and yes, because so many people were in the same mess as I was, this is the current dilemma.

[ZombieSlayer]

Yep I agree the lenders need to stop being so damn greedy and tell more people no. Or at the very list cap the cards at $500 for anyone with an average or below average credit score.

I don't want the big 3 to go under at all, it would ruin the US auto industry for at least 20 years.

[SirBeast]

$1.59! W00T!