California average gas prices just broke $6 a gallon. The national average is currently 25% less than that at $4.59 a gallon, but many experts are calling for gas prices to reach $6 a gallon within the next 60 days. So they are calling for a 25% increase in 2 months, meaning that fuel prices are now doubling every 8 months. Since everything you buy has to be transported from one place to the other, this will continue to contribute to inflation.
In fact, gas stations in Washington state are already preparing for $10 a gallon gasoline prices. We are on the cusp of seeing hyperinflation and a collapse of the US economy.
9 Comments
EN2 SS · May 19, 2022 at 6:23 pm
I’m sad to see that I’ve been right, since the stolen election this country was officially doomed. Only way out I see is for secession by red states, there is no living with or saving the blue ones.
Big Ruckus D · May 19, 2022 at 6:35 pm
It is honestly incredible to be living through a collapse of empire scenario in real time. I’ve wondered what the experoence and perception was of the typical prole, in say pre-WWII Germany, and now we are going to find out. It’s going to suck badly, but those who survive will have a hell of a story to tell.
Personally, I hope this affords those with the tools and the mindset to do so with many golden opportunities for exacting retribution on sonsabitches who deserve it for having caused this shit.
Papa Sierra · May 19, 2022 at 9:16 pm
Not to minimize the high levels of inflation that we’re seeing already and will continue to see, but hyperinflation is different, and it occurs when there is a loss of confidence in the currency and government. In spite of Biden and company, the US economy, and the US dollar will likely remain the only real global powerhouse. The next three largest economies, and currencies, are China, Japan, and the EU, and all three of those are completely based on economic exports to the US, and the importation of energy. The left is trying very hard to destroy the US, but it’s important to remember that our last bout of stagflation made it possible for Reagan’s previously-unimaginable deregulation efforts in trucking, phoned, and others, which gave us FedEx, UPS, talk radio, etc. and opened the door for cell phones.
Milton Friedman said: a crisis is the point where the politically impossible becomes inevitable. And the crisis is gonna be a doozy. I look at it as an opportunity to finally settle this.
Prepare for hard times, but keep the faith.
EN2 SS · May 20, 2022 at 7:28 am
“ a loss of confidence in the currency and government.”
I don’t see how our confidence can get much lower.
Papa Sierra · May 20, 2022 at 9:10 am
Are you still accepting dollars for your labor/work? Is the grocery store and gas station still accepting dollars for their goods? If so, then everyone still believes that the US dollar has value now, and will retain some value in the future.
My only point is that hyperinflation isn’t simply “lots of inflation”, but is more of a political event where barter becomes the norm.
Steve · May 20, 2022 at 10:03 am
People in Wiemar Germany were accepting marks for their work, and spending them as fast as possible. That doesn’t mean they weren’t experiencing hyperinflation.
Rainbow Unicorn Electric Grid · May 19, 2022 at 10:56 pm
Local diesel is $5.40 and 87 octane is $4.50.
Just read about price controls coming to the Chiquitastan unity collective.
Groceries über alles.
Markups continue at the grocery with garden salad, peanut butter, rice cakes, bottled water, shelled peanuts, all increasing over night.
Target and Wal-Mart will spend one billion on freight costs for 2022 due to the diesel but there won’t be any Freedom Trucker Convoys.
Big hat tip to the Canadian truckers for showing the way.
nunya · May 20, 2022 at 6:21 am
2nd and 3rd order effects of the rise in petrol products will be ugly
BobF · May 21, 2022 at 6:18 am
Just by way of info, we left Kissimmee on Wednesday and paid $4.49 a gallon for gas. En route $4.59 and $4.69. In New Orleans at the moment; here and at Slidell, eastward, both were $4.18 last evening. LOTS of traffic for most of the trip, so folks aren’t letting gas prices keep them down. Our trip has been planned for months and is a have-to trip or we would still be at home.
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