Are We Days Away From A Financial Collapse? Americans Haven’t Spent This Much On Gas In Nearly Three Decades, With The Exception of 2008, Investors Are Finally Dropping Their Fear And Went All In On Stock Market, Currency Wars Are Starting To Look A Bit Much Like 1931
February 20th, 2013
Americans Haven’t Spent This Much Of Their Paycheck On Gas In 30 Years
Paid over $4.00 a gallon this weekend. This high this early in the year brings the gas price back on the macro radar screen.
The EIA notes,
Gasoline expenditures in 2012 for the average U.S. household reached $2,912, or just under 4% of income before taxes, according to EIA estimates. This was the highest estimated percentage of household income spent on gasoline in nearly three decades, with the exception of 2008, when the average household spent a similar amount.
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