So, every major news outlet is headlining that gas prices are now at an all-time high when adjusted for inflation. Do you know what that says to me? Gasoline has been really freakin' cheap for the last 25 years. Think about it. Gasoline is just now reaching a level it last reached back in 1981 when adjusted for inflation. That's amazing. Can you imagine if the price of a house was just now reaching the price it once was in 1981? Or the price of a car? What if the stock market was just now reaching a high set it had set back in 1981? (In case you're wondering, the Dow Jones Industrial Average was at 971.72 on May 22, 1981. It closed today at 13,542.88.)
The point is, the wealth of our nation has increased dramatically over the last 25 years. The fact that fuel prices are just now reaching an all-time high is incredibly impressive to me. Or, think about it another way: Everyone is an outrage at spending $3.20/gallon for gasoline yet many of these people will not think twice or bat an eyelash when they go into Starbucks and drop $4.75 on a cup of coffee. Why don't you fill your tank with that stuff if you really want to be in for sticker shock?
2 comments:
Steve, I think you could blend right in in a great city like Chicago with ubiquitous public transit. Where gasoline is almost unnecessary. When I lived in my wonderful Chi-town, I would fill up my gas tank once every two weeks. I curse these blasted suburbs where I have to gas up once or twice a week!
All right, I'll stop my anti-suburb rant now... although I do still blame the suburban U.S. for this whole fiasco.
Way to stick it to the common man, Steve ;)
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