Tuesday, July 18, 2006

Gas Prices and Inflation

With gas prices over $3.00 per gallon I couldn't help but be reminded of the late 1970's when gas prices greatly influenced all prices, hence inflation. Not being an economist, I thought that I'd Google the topic as surely someone smarter than I would have considered this subject. Sure enough there were two news articles expressing concern in CANADA, nada in the US. It would seem to me with the number of trucks on the road transporting goods of all types that the cost of these products would be going up proportionate to the rising cost of fuel greatly decreasing the buying power of the dollar. How can it be any other way? Why is there nothing being reported on this?

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