I'm not talking about road trip vacations being canceled, but people not showing up to work, cars abandoned on the side of the road, etc. There Must be some dollar figure at which massive portions of the economy begin shutting down.

Where I live, many people commute 20+ miles into town daily. Given that the average American has like $600 in their bank account at any given time, we must be approaching that number soon.

It is astonishing how quickly the wheels have come off of this operation.

I would guess, and this is just a guess, that the number would be in the $15-20 a gallon range for it to be a true national emergency.

When Walmart and Amazon stop trucking....

Depends entirely on your socio economic class.

For a large majority of people it's already a problem.

If it hits $15 then everyone is ****ed. You're not just talking mobility issues but food supply as well. Cost of cooling your home.

I commute nearly 50 miles each way and it costs me around $35 per day to go to the office. I worked from home for over two years with no issues. I need to keep my job but it's getting close to the point where some of us that drive long distances will say something.

The longer this goes on the more it will hurt people, that's why former VP poopy pants sent that letter today. My guess is by Labor Day people will be pretty fed up.

TRX said:

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I commute nearly 50 miles each way and it costs me around $35 per day to go to the office. I worked from home for over two years with no issues. I need to keep my job but it's getting close to the point where some of us that drive long distances will say something.

The longer this goes on the more it will hurt people, that's why former VP poopy pants sent that letter today. My guess is by Labor Day people will be pretty fed up.

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I am in the same boat. Told them it was either time for a raise or work from home. Working from home.

When the democrats actually begin to blame their own policies due to loosing votes

Right now the useful idiots but Putin and Covid is to blame.

Not excusing 5 dollar gas. It's bs.

the trading range has been $2-$4 bucks over the last 15 years.

The prior longest period of elevated gas prices were from June 2011 to July 2014.

In June 2011 average hourly income was $23 an hour

Today it's about $32 an hour. (+40%)

In 2011 fuel was $4. Now $5. (+25%)

Over that same period disposable income has risen by +55%.

Hope that helps

In 2011 we didn't have 17% inflation on everything.

Hope this helps.

That's what 110 octane racing fuel cost 10 years ago. Would hate to be racing today.

We don't have 17% inflation on everything.

The ops question is where does demand destruction kick in.

I gave some data.

Nothing more nothing less

The problem is, by the 2nd of the month all that "disposable income" is already disposed of by 90% of people

Makes no sense. But whatever

I lived through 2011, was the year I bought my first house.

This is incredibly different.

TRX said:

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I commute nearly 50 miles each way and it costs me around $35 per day to go to the office. I worked from home for over two years with no issues. I need to keep my job but it's getting close to the point where some of us that drive long distances will say something.

The longer this goes on the more it will hurt people, that's why former VP poopy pants sent that letter today. My guess is by Labor Day people will be pretty fed up.

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Say something. Labor is tight. You should have leverage here

We all lived through 2011.

What did folks expect would happen when he Govt passed out free money

But tell me you do make more now than you did in 2011

SMM48 said:

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Not excusing 5 dollar gas. It's bs.

the trading range has been $2-$4 bucks over the last 15 years.

The prior longest period of elevated gas prices were from June 2011 to July 2014.

In June 2011 average hourly income was $23 an hour

Today it's about $32 an hour. (+40%)

In 2011 fuel was $4. Now $5. (+25%)

Over that same period disposable income has risen by +55%.

Hope that helps

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is this a serious post ? $5 gallon for gas is not a big deal because people have more disposable income??? you sleep through econ 101?

Just a way of saying most people live paycheck to paycheck. Their disposable income is already spoken for with payments on an SUV or boat

You're making that up.

You're arguing with yourself.

Never said it wasn't a big deal. It's in the first line of the post.

5 dollar gas isn't where the demand destruction point is.

Got data or just feels?

When Joe's national polling dips into the 30s.

True

SMM48 said:

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Got data or just feels?

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This article shows a poll result of 7 of 10 living paycheck to paycheck.
https://www.forbes.com/sites/zackfriedman/2022/02/08/shock-poll-7-in-10-americans-live-paycheck-to-paycheck/?sh=409c5c6755f6

This article shows 64%.
https://www.cnbc.com/2022/03/08/as-prices-rise-64-percent-of-americans-live-paycheck-to-paycheck.html

This one says 76%.
https://www.politifact.com/factchecks/2022/may/16/facebook-posts/though-many-americans-live-paycheck-paycheck-some-/

Point being, it's kind of all over the map but the general consensus is about 2/3 of American's are paycheck to paycheck.

Thanks

Ok good, now calculate where demand destruction is.

That's not data. That's a survey.

You can be the first to send in your bank records so I can start with the raw data.

SMM48 said:

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That's not data. That's a survey.

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In what world is the information collected in surveys not data?

You're gonna hang the hat on Zach Friedman who pimps his own Moneymatters website on every article he pens for Forbes??

SMM48 said:

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Ok good, now calculate where demand destruction is.

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I honestly don't have a dog in this fight. I was just providing a few articles I saw because I was curious about it. It's much higher than I thought it would be.

SMM48 said:

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That's not data. That's a survey.

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Survey and polling results aren't "data"?

Look at the source of the 'survey'. Zach Friedman. Why is he always linking his moneymatters website to every Forbes article.

Don't believe it then. No skin off my nose.

Looking at the spending habits of friends, coworkers and family members i find it easy to believe the polls.

When they survey is run by an author that is counting on you to use his website to obtain loans……kinda sketchy.

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