http://smirkingchimp.com/thread/johndamos/34772/gasoline-price-watch-and-us-economic-rescueIn California, Gasoline prices are at $3.78 and rising. In the Southeast where I live, prices are now at $3.50 and rising.
When gasoline was at former levels, wife spent around $25 per week going to work. I spent about the same. So, we spent a total of $50 per week and neither of us travel very far, and we both have vehicles that are economical.
During this last fill up, we both spent $35 each or $70 total. Now, that's $80 more per month and $960 per year being sucked out of our budget by big oil and the commodities traders.
Figure $1000 dollars per household average increase, and you can see that the big money is vacuuming up US wealth at unprecedented rates. If there are 105,480,101 households of various types in the US, we can see that the corporations and commodities traders just gave themselves a $105,480,101,000.00 raise at US consumer expense,and these folks are still driving up commodities prices, hoping to vacuum up any remaining US middle class wealth.
More at the link --
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