Tuesday, May 15, 2007

US economy takes another hit.

US economy faces massive impact as petrol prices hit all-time high

I thought before I posted this one. The US economy is facing a number of threats and then petrol prices suddenly rise - this may hit the US consumers' confidence. Link to Alan Greenspan's recent comments, see: http://www.telegraph.co.uk/money/main.jhtml;jsessionid=UL3A2YKIWU03DQFIQMFCFGGAVCBQYIV0?view=DETAILS&grid=&xml=/money/2007/05/11/bcngreen11.xml. I feel the risks to the US economy are increasingly on the down side. How will a recession in the US effect us?

Posted by talking rot @ 05:49 AM (567 views)
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7 thoughts on “US economy takes another hit.

  • Heard the 62 pence per litre quoted on the BBC radio 4 this morning, and now in the Telegraph.

    My calculation is this;

    Cost per US Gallon $3.07

    Litres per US Gallon 3.785

    Sterling-Dollar Exchange rate 1.9827

    $3.07 / 1.9821 = £1.55

    £1.55 / 3.785 = £0.41 per litre

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  • “now $3.07 a gallon. Taking into account the different size of a US gallon, that equates to around 62p a litre”

    I wish they would get their figures correct – 1US Gallon = 3.785412 Ltrs – 1UK Gallon = 4.546092 Ltrs
    $3.07 / 3.785412 = $0.8183 per Ltr (Currency Exchange rate = $1.92 = £1)….. = 42.62pence per ltr.

    LESS THAN HALF WHAT IT COSTS IN THE UK…
    Given that house prices are about half what they are in the UK, and I know that salaries in Engineering are similar to the UK – I think it’s time to move to the US – Except they are going head first into a depression or recession if they are lucky.

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  • This is big news! Watch the US economy stutter!

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  • Ah diddums… the poor Yanks are really having to shell-out (no pun intended) to get their 10X10s down to the mall. Meanwhile in Equador another family starves to death.

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  • Worst thing is it will make their subsidised bio diesel more attractive.
    This industry is about the stupidest thing you can imagine under a green smokescreen. Uses subsidised food crops to turn into diesel, which apparently consumes more energy in processing than you end up with in the fuel. Meanwhile the price of corn flour goes up and so the poor old mexicans are going hungry too.

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  • I have noticed petrol price’s in Essex have been increasing swiftly lately 97.0p a litre yet it seems to have gone unchallenged. Yet Their seems to be a lot of positive news about gas and electric price’s dropping hence a drop in inflation. It seems when oil is dropping it helps inflation when it’s rising it has no effect?

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  • tyrellcorporation says:

    Moving to biofuel under the pretence that it’s good for the planet!!! Utter b****cks!

    This is all to do with strategically moving the US economy away from the over-reliance on oil and Arab oil in particluar. After all it’s politically tricky to wage war on a country that keeps your fleet of school-run Hummers going!

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