I couldn't agree more that high energy cost is fueling inflation (rather that the other way around) If gas prices were to suddenly drop back to $2 a gallon, the economy would suddenly start to boom. But the prices won't be dropping.
I read somewhere that the "average joe" in middle America is now spending $4400 more per year than 16 months ago as a result of increased energy cost. And that is expected to rise another $2000 by years end. That estimate includes gas, home heating, groceries, consumer products, ect. If those numbers are anything like accurate, that's over $6000 out of the spending hands of each of us. Our Federal Government seems to have thought at one point $600 per person would STIMULATE the economy. Imagine how 10X that much would boost the economy.
As far as a break point goes, I suppose that depends on what you consider a collapse of the economy. Try telling millions of Americans who've already lost their homes it HASN'T collapsed already. Some of us are better than others at building a strong personal financial base. This economy has already taken out many who were at the low end of that totum pole. It's slowly eroding that "Average Joe", and beginning to cause even the hardiest of souls to fear what's ahead.
In my eyes, the collapse has already begun. It just hasn't reached terminal velocity just yet.
The American people are in for some really big changes in lifestyle. We've been through 230+ years of growth with a few ups and downs, but essentially a continued long term upward economy. Now the pendulum is swinging back the other way.
Once upon a time, the US economy was based on a gold standard. Like it or not, today it's based on a petroleum standard. And it's NOT our petroleum. We're now at the mercy of a part of the world that doesn't like us. The only way to reverse this trend is to shed our dependency upon foriegn oil. And that will take a generation or two at the current pace.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.