Average Gas Price $4 Per Gallon By End Of Week

From Consumer Affairs:


"The psychological price-point of $4 a gallon is looming straight ahead, and will likely be hit before the end of the week, based on the rate of recent price escalation.


Three years ago, the average price of gasoline peaked at $4.17 a gallon in mid July 2008. From that point on a recession that began seven months earlier began to accelerate. Some economists think the cost of gasoline was a major contributor to the Great Recession, which hit in full force that October."


In 2008, there were many opportunities for regulators and law makers to fix the problems that brought us to where we sit today. Instead, they've done everything needed to make things much worse than they were then. As Karl Denninger says, fasten your seat belts.