Did you know that gas prices are down 47% since May?

[Tsing Tao]

Quote from nutmeg:

I hope you're being sarcastic. Obama said he couldn't do anything about gas prices.

The only thing he can do is call up Benny.

 

[OccupyThis]

Quote from Max E. Pad:

Not sure exactly who they think is dumb enough to buy into this one, as people tend to have easy access to this information every time they fill up their car.....

And I bet May is when Obama's presidency began according to this liberal dolt.

 

[OccupyThis]

Quote from Spiker:

Yes. . . . and no one bothers to thank Obama..

The price of gas when Obama took office was approx $1.90 a gallon- so what are we thanking him for?

 

[Ricter]

Quote from Tsing Tao:

The only thing he can do is call up Benny.

Yeah, the last phone call was, "hey Ben, starting burning money, I need some deflation this year."

 

[Tsing Tao]

Quote from Ricter:

Yeah, the last phone call was, "hey Ben, starting burning money, I need some deflation this year."

If Ben had raised rates, you could argue that. But the extension of Twist is not even close. Disinflation is not Deflation.

However, I do not doubt there was a conversation that went something along the lines of...

Obama: You know, Ben, I'm not the only one out of a job if Romney wins. He's spoken rather fondly of you.

Bernanke: Yes, I'm aware of that. We'll extend Twist, but do it sterilized. This way gas will fall, but you have to understand that stocks will too.

Obama: I think that's the better choice, considering the majority of the public doesn't own stocks, but everyone needs energy. Don't put out QE3.

 

[Ricter]

Quote from Tsing Tao:

If Ben had raised rates, you could argue that. But the extension of Twist is not even close. Disinflation is not Deflation.

However, I do not doubt there was a conversation that went something along the lines of...

Obama: You know, Ben, I'm not the only one out of a job if Romney wins. He's spoken rather fondly of you.

Bernanke: Yes, I'm aware of that. We'll extend Twist, but do it sterilized. This way gas will fall, but you have to understand that stocks will too.

Obama: I think that's the better choice, considering the majority of the public doesn't own stocks, but everyone needs energy. Don't put out QE3.

So at the end of the day the American public benefits. Thank you, Mr. Obama!

 

[Tsing Tao]

Quote from Ricter:

So at the end of the day the American public benefits. Thank you, Mr. Obama!

From lower energy prices, of course it does. However, food prices won't follow lower, that damage has been done. Those who invested in stocks will be trapped at inflated highs, and unless gas prices drop to where they were when Obama took office, there is still an overall negative (in terms of the price of gas) that the Fed is responsible for (and Obama indirectly, as he re-appointed Ben).

 

[Ricter]

Quote from Tsing Tao:

... However, food prices won't follow lower,.

That's ok, they're lower right now, which is good for the American people.

 

[Tsing Tao]

Quote from Ricter:

That's ok, they're lower right now, which is good for the American people.

Food prices are lower now? Really?

What grocery store do you shop at, when was it incorporated in Fantasy Land?

Edit: I had to retype my response as I saw you answered to FOOD, not ENERGY.

My apologies.

 

[Ricter]

Quote from Tsing Tao:

Certainly better than it was months ago. But considerably worse than it was at the start of Obama's Presidency.

Let's see if it stays there, or if the Fed does another QE before November (as I believe they will try).

Tell me, will you be as balanced in your opinion if gas goes back up to the $3.80 range if another batch of QE is released? Or will you do another "Ole'!" ?

Hey, they're both higher than they were at the time of Washington's presidency. Somehow, we've adapted.

As for the price of gas, I don't know what I pay, I honestly don't look. The cost is trivial to me.

Edit: I take that back, I did notice it was $1.19 a liter recently.