Tuesday, December 20, 2011

It's the Oil Prices, Stupid

I still think high energy prices are a big reason for the economic malaise.

When holiday travel is over, the typical American household will have spent about $4,155 filling up this year, a record. That is 8.4 percent of what the median family takes in, the highest share since 1981.

Gas averaged more than $3.50 a gallon this year, another unfortunate record.


That is a big dent in folks' disposable income.

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