Price of Gas Nears Record High, Food Pain and Stock Market Too
National Gas Price image courtesy of AAA
According to the AAA, the record average gas price for regular unleaded gas was $4.114 on 7/17/2008. Diesel hit a record on the same date at $4.845.
Price History
Price per gallon data from AAA, chart by Mish, price rounded to two decimals
LA Gas Price
Wheat Hits New Record High
Wheat futures courtesy of Barchart.Com annotations by Mish
Wheat futures were halted limit up at the open today and closed at a new record high.
Nearly all commodities are spiking higher.
Canadian Crude
Nickel Spikes 82 Percent
Fertilizer
Stock Earnings
Alleged "Benefits of Running the Economy Hot"
Charles Evans, president and chief executive officer of the Chicago Fed wants to run the economy hot.
For discussion, please see Chicago Fed President Praises the "Benefits of Running the Economy Hot"
Hello Charles Evans, Care to Reconsider?
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Real Personal Income Declines for the 8th Time in 9 Months
Real incomes are sinking but spending isn't. .... Yet
For discussion, please see Real Personal Income Declines for the 8th Time in 9 Months
R E C E S S I O N
Pain Levels
S&P 500 courtesy of StockCharts.Com, annotations by Mish
The stock market is not close to factoring in these global disruptions
A recession is baked in the cake. Stock market declines even if there miraculously is no recession.
S&P 500 - What is the Pain Threshold for the Fed and Traders?
How low will the bear market to go?
This post originated on MishTalk.Com.
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