Why are they saying that gas prices arn't hurting people, while credit card debt is rising?

Question

They have been saying that gas prices arnt affecting people as much as they thought they would. Like they thought the threashold was $3, and now they are saying $4. It seems to me that as long as people have credit cards then it will "SEEM" that its not that big of a deal. They are also saying that more people are in debt and that more people are late with payments. Americans are oil crazy and will continue to buy it, but why say that its not affecting people when it seems that it is. Gas prices up = Credit card usage up = Strain on peoples budgets = strain on the economy.

I have no problem with the people using credit cards for gas i understand that they have no choice, hell sometimes i have not choice. I just wish the government would quit thinking that we haven't hit the "threshold" i don't think we ever will as long as there is credit. I just hope its not the start of another depression.....

Answer 1

I think that what they mean to say is that higher gas prices are not changing anyone's driving habits. They were expecting to see a sharp dropoff in gas sales and an increase in public transit.....which hasn't happened.

For most of us, we still have to get to work each day. It's a 17 minute drive for me to get to work. It would be a 85 minute bus trip. I just can't do it. I work such odd, inconsistent hours that trying to take a bus and losing 3 hours from my day in transit would kill me. I think a lot of us are in that situation. Either the public transportation doesn't go where we need to go, the schedules are bad, the increased time is horrible, or it is downright scary for a woman traveling alone.

Also, a lot of people are in denial about their financial situation. I was talking to some people in my office at work this past week. Even though they are struggling a bit financially, they still spent thousands of dollars (on credit cards) for Christmas presents because they refused to accept reality and scale back a bit. There is going to be a very rude wakeup call in the near future for a lot of these ladies.

Answer 2

We are in a recession.

If you apply actual inflation (and factor in the non-American produced sales) in our GDP it is obvious the recession started last January.

Yes, gas prices (and utilities) are killing us, so is the increase in the cost of food (thank ethanol, China & India) the DOUBLING of minimum payments and interest on debt and then the housing bubble burst, we are in deep doo-doo.

Yet the "experts" and the idiots we keep re-electing, say "all is well".

Well, it ain't and they won't be able to continue lying for much longer.

Finally, what many of our problems boil down to is loss of good paying JOBS. Ask anyone who is looking, how easy it is out there. It no longer matters if you have a degree, or not.

Recession, it's not just for Michigan anymore.

Welcome to the new "global" economy.

I fear for my children.

Answer 3

the extra money people are spewing out by paying at the pump and paying for utilities are definately hurting the economy... and for those not in rediculous teaser rate subprime mortgages that are feeling the pinch, tell them it doesn't hurt....the oil companies are screwing us and Bush and his band of thieves are robbing us blind.....

i think you are wrong to feel that way about people using credit cards... when you have no other options what do you do... it is a big deal.... it is actually huge....... for those that have no credit to push it off on, sacrifice clothes for little johnnie, replace highly nourishable foods for cheaper less nourishable foods... and on and on....

while dems and reps.... keep on giving tax breaks to people that do not need tax breaks.... like the yacht industry exempting purchases if a yacht is purchased in Calif and removed to a foreign harbor... so some fat rich slob can moor it cheaper in a Mexican port and also skip the sales tax on his multimillion dollar toy.......

so for anyone to say that the money comes full circle is retarded.....it doesn't the economy is not geared to protect anyone but the "haves"

Answer 4

Gas has gotten so expensive that I feel that it takes away from my household expenses and my income is extremely limited. The economy seems to be in a scary situation and is sliding in a downward spiral.

Answer 5

We could be riding a flaming hellhound through the gates of Hades and they'd still say everything was fine. What do you expect them to do? Scream and panic? They lie, that is what they were bred for.

Answer 6

Our Country has been in line for a rude awakening. The land of milk and money.

Answer 7

Eat the rich, I bet they taste like veal cutlet,