Gas prices' jump attests to upbeat economy

The Los Angeles Times ^ | March 22, 2012 | By Jim Puzzanghera

[Oldeconomybuyer]

The recent jump in gasoline prices stems partly from an encouraging sign: The economy is improving.

With a more solid footing, the economy should be able to withstand the recent increase in gas prices better than it did during a similar surge last year, said Kathy Bostjancic, director for macroeconomic analysis at the Conference Board.

"It's a head wind for the consumer, but it doesn't derail the recovery. It can be taken in stride, especially if the underlying fundamentals of the economy are improving, which they are," she said.

"The dominant factor is really the improvement of the labor market," she said, "and if that continues, that trumps all the potential head winds for the consumer."

Two recent national polls showed Obama's job approval down sharply despite the improving economy, in part because of concerns over higher energy costs.

Obama has been fighting back. Over the weekend, he reiterated his call for an end to $4 billion in tax breaks for the oil and gas industry.

[50sDad]

Yes, the economy of Red China, where they have unleashed the profit motive on their population and who wants now to own cars, is roaring ahead, and driving up the price of gas.

[mylife]

Gee thats great!
I can hardly wait till employment is back to normal, Gas will be $12 ga! /s

[SueRae]

Journolistas have gotten the talking point du jor from the White Hut.

[Glenmore]

Just got back from a trip and every flight was totally full and all the airports were crowded. So either the economy is better than I thought or gas prices are good for the airlines.

[Chode]

six cents in one day is pretty damn upbeat... /spit

[musicman]

"Gas prices' jump attests to upbeat economy"

[DocRock]

Anytime someone lies like this to me or tries to take advantage of me I say, “excuse me a moment” and walk over to a mirror or some glass and pull back my hair, I return and look them square in the eye and say “Nope, I don't have STUPID written on my forehead. “

[sheana]

Well I paid $4.20 today. Can you tell how encouraged I am? Worthless pos.

[mykroar]

There’s a FedEx hub on the highway my brother drives everyday (I used to until last year). It’s easy to see when there’s a tick-up in buying from the lack of trailers camped out there. 5 years ago you could practically count how many were there & half were other company’s trailers that were bummin’ space. It’s 90%plus full almost constantly - and they’re all FedEx.

[SoFloFreeper]

Think how GREAT the economy is going to be when gas is $7.00 a gallon.

[Caipirabob]

Good is bad, up is down, gay is straight and dogs & cats living together = A-OK!

[wizwor]

Here’s the thing...when you print a couple trillion dollars in a 14 trillion dollar economy, well, that’s about fifteen percent more dollars chasing goods. This accounts for the increase in fuel and food — which are not part of the inflation calculation. The only thing holding down the official inflation rate is the fact that there are no dollars after food and fuel to spend on the other stuff. Obama can smile, but everyone knows why retailers cannot recoup increased costs — those of us who are working are spending all our money on gas and food.

[SueRae]

I’ve see that, too...but this is the time of Spring breaks...and many airlines have cut back on the number of flights. I know...I have to go to Phoenix next week (hate that airport) and every flight on the way back in stuffed to the gills. Has been for years.

[ProtectOurFreedom]

Exorbitant gas prices help the economy.
Paying more unemployment for longer periods helps the economy.
Severe recession means you get to stay at home and enjoy more time with your family.
Bankrupting the public treasury is the path to sound fiscal policy.
Scarce, high cost and unreliable electricity is our future.

It must be a delight to be a liberal Democrat.

[2111USMC]

[RetiredTexasVet]

Kind of scary! Some sheeple out there will actually believe this boot scrapings. Also, this article definitely highlights the detrimental effects of continued drug use on the author’s intellectual abilities.

[kearnyirish2]

“So either the economy is better than I thought or gas prices are good for the airlines.”

I’d go with C: The number of flights has been reduced.

I say that because I took someone to Kennedy Airport and they were put up overnight because the airline hadn’t sold enough tickets for their flight to Europe. They were on a different flight the next day.

[pacpam]

Inflation you say?

[WKUHilltopper]

Incredible trash idiotic “journalism”. Why don’t they just tout chopping off your leg makes you healthier and makes you more efficient at walking...

[AndyJackson]

Speaking of supply and demand, the Baltic Dry Index suggests that while social goods may be going through the roof, physical goods are mired in the depths of despond.