[FairfieldLife] Re: Alternate methods of measuring inflation
I did some checking. The USA subsidizes oil at somewhere between 70 cents and $3.50 per barrel. There's about 20 gallaons of gas obtained per barrel. Assuming that 1/2 the subsidies are for gasoline, that works out to somewhere between 1.5 and 7.5 cents subsidy per gallon of gasoline, so you are correct. The biggest difference in pricing between the US and Europe is not subsidies but taxes and exchange rates. L. --- In FairfieldLife@yahoogroups.com, sparaig LEnglish5@... wrote: In most of Europe, the cost of gas is above US$9 per gallon. And remember, we have subsidies for oil pricing that partially/fully offset the taxes levied at the pump. Without oil subsidies, many alternate forms of power would be much closer to the point of economic break-even, or might already have passed that point. L. --- In FairfieldLife@yahoogroups.com, wleed3 WLeed3@ wrote: higher taxes in europe, however the enjoy the same depleation allowances as do we here in canada but taxed nore in canada indian res here sells cdn gas 3 3.55 off res its 3.89 ont 4;54 usd In a message dated 05/26/12 19:27:06 Eastern Daylight Time, LEnglish5@ writes: BTW, the cost of gasoline in the USA is heavily subsidized. The cost of gas in Europe is 2-3x what it is in the USA. OTOH, the cost of gasoline in Venezuela is about 1/10-1/20 what it is in the USA. Just a factoid that may or may not have anything to do with anything. L To subscribe, send a message to: fairfieldlife-subscr...@yahoogroups.com Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!'Yahoo! Groups Links http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Alternate methods of measuring inflation
Attempting to pour oil on troubled waters, I'd like to point out that while Judy is correct that core inflation has been rather low lately, the essential cost of living has risen drastically due, at least partly, to the price of oil. About 30% of the cost of food is tied directly to oil pricing (transportation costs etc), and there are also issues having to do with the relative weakness of the American dollar compared to the European dollar, which has emerged as the standard for many things (some people believe that Hussein's desire to start accepting Euros rather than dollars was one very important reason why Gulf War II happened). My own belief is that monetary supply has very little to do with the rise in the cost of living, simply because the Fractional Banking system already ensures that the supply of money is dozens of times larger than the capital that backs it. Printing 50x as much money suddenly might cause hyper-inflation, but printing 10% more or even 2x more, is merely a tiny blip compared to what the banks already do, money-supply-wise. L --- In FairfieldLife@yahoogroups.com, authfriend jstein@... wrote: --- In FairfieldLife@yahoogroups.com, Bhairitu noozguru@ wrote: I was arguing here the other day that 2.3% inflation seems a little off to me. I do step out of the house daily and see prices in stores rather than living in a meditation cave. Who here do you think lives in a meditation cave, Bhairitu? Names, please. I also argued that the government cooks the numbers to 1) either avoid a panic or 2) to look good. Because I got sidetracked by someone who wanted the make the argument personal as usual No, this is not what happened, Bhairiu. You are not telling the truth. *You* made it personal with your very first post to the thread: - [Me to BillyG:] Hmm, I've always thought printing money results in *inflation*, not deflation. Fortunately, the runaway inflation the GOP has been screaming is going to happen hasn't. [Bhairitu:] Do you compare food prices to what they were two, three years ago? *Some of us still have a memory system* and can even remember what prices were 10 years ago for food, gas, etc. [emphasis added] - 'Nuff said.
[FairfieldLife] Re: Alternate methods of measuring inflation
BTW, the cost of gasoline in the USA is heavily subsidized. The cost of gas in Europe is 2-3x what it is in the USA. OTOH, the cost of gasoline in Venezuela is about 1/10-1/20 what it is in the USA. Just a factoid that may or may not have anything to do with anything. L
Re: [FairfieldLife] Re: Alternate methods of measuring inflation
higher taxes in europe, however the enjoy the same depleation allowances as do we here in canada but taxed nore in canada indian res here sells cdn gas 3 3.55 off res its 3.89 ont 4;54 usd In a message dated 05/26/12 19:27:06 Eastern Daylight Time, lengli...@cox.net writes: BTW, the cost of gasoline in the USA is heavily subsidized. The cost of gas in Europe is 2-3x what it is in the USA. OTOH, the cost of gasoline in Venezuela is about 1/10-1/20 what it is in the USA. Just a factoid that may or may not have anything to do with anything. L To subscribe, send a message to: fairfieldlife-subscr...@yahoogroups.com Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!'Yahoo! Groups Links http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Alternate methods of measuring inflation
In most of Europe, the cost of gas is above US$9 per gallon. And remember, we have subsidies for oil pricing that partially/fully offset the taxes levied at the pump. Without oil subsidies, many alternate forms of power would be much closer to the point of economic break-even, or might already have passed that point. L. --- In FairfieldLife@yahoogroups.com, wleed3 WLeed3@... wrote: higher taxes in europe, however the enjoy the same depleation allowances as do we here in canada but taxed nore in canada indian res here sells cdn gas 3 3.55 off res its 3.89 ont 4;54 usd In a message dated 05/26/12 19:27:06 Eastern Daylight Time, LEnglish5@... writes: BTW, the cost of gasoline in the USA is heavily subsidized. The cost of gas in Europe is 2-3x what it is in the USA. OTOH, the cost of gasoline in Venezuela is about 1/10-1/20 what it is in the USA. Just a factoid that may or may not have anything to do with anything. L To subscribe, send a message to: fairfieldlife-subscr...@yahoogroups.com Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!'Yahoo! Groups Links http://docs.yahoo.com/info/terms/
