High Gasoline Prices and the 2012 Recession, Part II

Natural Born Conservative ^ | October 28, 2012 | Larry Walker Jr

[NaturalBornConservative]

Your assumption seems to be that a dollar today is worth the same as a dollar yesterday, so that it couldn't possibly be the problem. Just to entertain your last question, since I was abrupt due to fatigue from crunching numbers all day, the price of oil was $36.51 per barrel on Jan 16, 2009, and it's now around $86.28, which looks like an increase of 136.3% to me, but I guess that's a matter of one's perspective. And no, I didn't lecture you, I merely pointed out the fact that a decline in the value of the dollar has a multiplier effect when spent overseas versus domestically.