The price of things to come

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  • dvd1955

    Sharpshooter
    Rating - 0%
    0   0   0
    Apr 10, 2013
    718
    63
    Howard County
    My daughter just paid $1.29 per gal for gas. That made me think about what will happen when this virus slows down. I suspect gas prices will immediately double. And I think those businesses that survive will increase their prices on goods and services to try to make up for their losses. I don't blame them. I'm talking about places like movie theatres. The Kokomo theatres have been a great bargain when compared to many of the theatres in Indy. Usually $4.99 tickets. I'm thinking that will go up considerably.

    I also think restaurants will be packed for awhile, as many of us have been eating all of our meals at home, and will be anxious to go out for a nice meal where someone else has to prepare the food and clean up afterwards.

    So even if our investments and jobs rebound, I think there will be a high cost to all of us, offsetting some of that rebound.
     

    maxwelhse

    Grandmaster
    Rating - 0%
    0   0   0
    Aug 21, 2018
    5,415
    149
    Michiana
    The price of gas doubling to $2.60 would be, well, pretty much normal... At least for me.

    As far as other businesses, I think they're going to have a hard time radically raising prices when pretty much everybody is getting whacked from this. I'm not going to be able to afford to go for those luxuries even at 2 months ago prices and doubling them isn't going to do much to get me to change my mind.

    I see this being like all of the things before it. It will recover with time and be pretty much back to "normal" eventually. I don't see the new normal becoming super high prices unless it's by inflation... then we're all boned.
     

    indykid

    Grandmaster
    Rating - 100%
    4   0   0
    Jan 27, 2008
    11,337
    113
    Westfield
    Most of the price drop in gasoline is coincidental to the virus. The price of a barrel of oil started to plummet when Saudi Arabia and Russia had a "falling out". And then the virus hit forcing people to stop driving. One of the few times I wish I needed gasoline.
     

    maxwelhse

    Grandmaster
    Rating - 0%
    0   0   0
    Aug 21, 2018
    5,415
    149
    Michiana
    And you can't cost-effectively store enough gas to make it worth your while later on (unless you just happen to have a bunch of gas cans collecting dust).

    There's actually been a reasonable amount of talk over in the prepping board about exactly that... Gas cans, depending on size, are basically 20-30% right now if you factor in the present price to fill them.

    So... Maybe you can't reasonably obtain or use a 10,000 gallon tanker, but you want a couple more gas cans anyhow...
     

    bwframe

    Grayish Man
    Site Supporter
    Rating - 100%
    86   0   0
    Feb 11, 2008
    33,314
    113
    Monroe County
    Double or not, a big concern is whether the American oil industry can survive this...

    [video=youtube;U51NH8Cyc_E]https://www.youtube.com/watch?v=U51NH8Cyc_E[/video]
     

    maxwelhse

    Grandmaster
    Rating - 0%
    0   0   0
    Aug 21, 2018
    5,415
    149
    Michiana
    Double or not, a big concern is whether the American oil industry can survive this...

    [video=youtube;U51NH8Cyc_E]https://www.youtube.com/watch?v=U51NH8Cyc_E[/video]

    Coal is doing even worse, and I hate to tell everyone, but... there's still a huge amount of coat fired power plants out there.
     

    BigRed

    Grandmaster
    Site Supporter
    Rating - 100%
    5   0   0
    Dec 29, 2017
    14,282
    149
    1,000 yards out
    My daughter just paid $1.29 per gal for gas. That made me think about what will happen when this virus slows down. I suspect gas prices will immediately double. And I think those businesses that survive will increase their prices on goods and services to try to make up for their losses. I don't blame them. I'm talking about places like movie theatres. The Kokomo theatres have been a great bargain when compared to many of the theatres in Indy. Usually $4.99 tickets. I'm thinking that will go up considerably.

    I also think restaurants will be packed for awhile, as many of us have been eating all of our meals at home, and will be anxious to go out for a nice meal where someone else has to prepare the food and clean up afterwards.

    So even if our investments and jobs rebound, I think there will be a high cost to all of us, offsetting some of that rebound.

    I wouldn't worry about it.

    When the price for a flood of "free money" comes due and prices rise, punish the merchants with the wrath of shame and label them "price gougers".

    "Free money" can be good or "free money" can be bad. It depends not upon economic principles. Instead, it depends upon which party legislates it and what executive signs it.

    It's true. Read it right here on INGO.
     

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