Posted on 05/30/2022 4:17:34 AM PDT by blam
Soaring commodity prices have been financially devastating for households, devoting larger and larger shares of disposable income to pay for energy.
For instance, at nine California filling stations, the price of regular gas is higher than the federal minimum wage. Patrick De Haan of GasBuddy said several gas stations in Los Angeles and San Francisco metro areas had recorded pump prices over the federal minimum wage ($7.25). One station in Los Angeles is now $7.83.
Ed Yardeni of Yardeni Research told CBS News that record-high fuel costs are denting workers’ paychecks. He estimated that the typical US household would spend upwards of $4,800 on gasoline this year, a $2,000 increase over last year. That financial burden is piling up for the working poor and households worldwide.
Bloomberg reports Brazilians are spending a whopping 33% of the monthly minimum wage to fill up a 14.5-gallon fuel tank. The figure is 24% in Mexico, 18% in Argentina, 17% in Chile, and 13% in Colombia.
The US isn’t as bad, only 6%, though notice purchasing power of Americans has drastically fallen in the last two years. In April 2020, one hour of work bought over 17 gallows of Regular gasoline at the pump. Today, an hour of work will only buy 7 gallons of gas in America…
High fuel costs are rapidly eating away at Brazilian wages, causing President Jair Bolsonaro’s popularity to sour. The president has supported legislation to lower taxes and fired three chiefs of the state-controlled oil company Petroleo Brasileiro SA because of high fuel costs.
In Europe, natural gas and electricity bills are expected to jump from 3.5% to 4.5% of household disposable income. The share of an energy bill that households have to pay continues to increase as Europe’s transition from Russian fossil fuels is bumpy, filled with shortages and elevated prices. This figure doesn’t even include petrol prices at the pump.
The cost of living is hitting a painful threshold for many working-class folks worldwide and has also sparked social instabilities in several countries. Turbulent times are ahead as inflation riots spread as soaring energy and food costs consume disposable incomes.
Just wait until you get your AC bill this summer...you'll be talking.
BTW...Trump wouldn't stand for this. He'd open things up
Higher gas ⛽ prices
Higher food prices
Baby formula shortage
War
Vote Democrat! It works!*
*If you like paying more and shortages
That’s the plan. Build back broke and a serf.
No cars, no single family housing, no meat. All on plan.
For those of us who have some liberals in our extended friends and family circle, have any of you noticed how silent they have become now that the 'prices at the pump' are affecting them?
Trump's been out of office now for fifteen months, and Biden EO'd anti-Trump policies aplenty. With Democrats in control of the House, and a limp 50-50 in the Senate, ordinary liberals are being confronted with a strange problem,
They are not happy with the effects of their policies. Who to blame? Someone else, as usual. But what to blame? Lefty policies? Never. Or at least not yet. Tick tock.
(have any of you noticed how silent they have become now)
They’ll find some way to spin it. At least they usually do
“They’ll find some way to spin it. At least they usually do”
I hope they are as bad at it as “Ultra Mega”!
This is 100% Barak Biden’s fault.
The Biden Administration is giving government school victims exactly what they have been taught to want.
Governments everywhere celebrating , the Great Reset has started
Gee, where is that station that sells gas for $5.62/gallon?
Cheapest I could find - and that was on Friday - was $5.89/gallon.
California, of course.
And its all on purpose.
But the econazis are smiling... and shooting for $10 gas.
After filling up at the gas station I always yell out
“Let’s go Brandon”.
More the world is ending news from “Zubu Brothers”.
Drop by a little earlier in the thread, you'll be more disruptive that way. This thread is already over. The other slugs on FR are disappointed in you.
Nobody got to see you dumping (trying to censor) the article. Shame, shame, you're slipping.
High Gas Prices = Lockdown
High Gas Prices = Higher Prices On Everything.
Sorry that you get so triggered by people who don’t see the articles and the publisher the same way you do.
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