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U.S. Consumer Spending Cools as Food, Fuel Costs Climb

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JaneWI
njcookies
mrgolf
Jen
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U.S. Consumer Spending Cools as Food, Fuel Costs Climb Empty U.S. Consumer Spending Cools as Food, Fuel Costs Climb

Post by Jen Mon Feb 28, 2011 11:02 pm

U.S. Consumer Spending Cools as Food, Fuel Costs Climb
http://www.bloomberg.com/news/2011-02-28/consumer-spending-in-u-s-rose-less-than-forecast-in-january.html

Consumer spending cooled more than
forecast in January as rising food and fuel prices caused
Americans to cut back on post-holiday visits to malls and
restaurants.
Purchases rose 0.2 percent, the smallest gain since June,
as winter storms may have also discouraged shoppers, according
to figures from the Commerce Department today in Washington. A
report from Chicago-area purchasing managers showed businesses
expanded in February at the fastest pace in two decades.
Jen
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Post by Jen Tue Mar 01, 2011 5:48 pm

Bernanke warns recent oil price surge could impede U.S. growth
Likely outcome would be temporary and modest rise in inflation, Fed chief tells Congress

http://www.msnbc.msn.com/id/41845694/ns/business-stocks_and_economy/

WASHINGTON — Federal Reserve Chairman Ben
Bernanke told Congress on Tuesday that a prolonged rise in oil prices
would pose a danger to the U.S. economy. But he said a more likely
outcome is a temporary and modest increase in consumer prices, not
runaway inflation.

Jen
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Post by Jen Tue Mar 01, 2011 5:49 pm


Stocks end day lower as Bernanke warns about oil
Fed boss tells congressional committee surge in prices could lead to weaker growth

http://www.msnbc.msn.com/id/41845280/ns/business-stocks_and_economy/


NEW YORK — Stocks ended lower Tuesday
after construction spending dropped to its lowest level in nearly a
decade and Federal Reserve Chairman Ben Bernanke said rising oil prices
could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on
anti-government protesters. Prices surged 13 percent last week with
unrest in the Middle East and North Africa.
Jen
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Post by mrgolf Tue Mar 01, 2011 6:01 pm

Jen wrote:
Stocks end day lower as Bernanke warns about oil
Fed boss tells congressional committee surge in prices could lead to weaker growth

http://www.msnbc.msn.com/id/41845280/ns/business-stocks_and_economy/


NEW YORK — Stocks ended lower Tuesday
after construction spending dropped to its lowest level in nearly a
decade and Federal Reserve Chairman Ben Bernanke said rising oil prices
could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on
anti-government protesters. Prices surged 13 percent last week with
unrest in the Middle East and North Africa.

Stocks ended lower Tuesday after construction spending dropped to its lowest level in nearly a decade and Federal Reserve Chairman Ben Bernanke said rising oil prices could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on anti-government protesters. Prices surged 13 percent last week with unrest in the Middle East and North Africa.

Major Market Indices
Bernanke, in testimony to the Senate Banking Committee, said a prolonged increase in crude prices could pose a risk to the recovery. But he predicted only a temporary increase in inflation, not runaway prices. The Fed chief also said he expected the economy to grow this year, but not at a pace fast enough to quickly lower the 9 percent unemployment rate.
Story: Bernanke warns recent oil price surge could impede U.S. growth
The Commerce Department reported that builders began work on fewer homes, offices and commercial projects in January. The annual rate was near its lowest level 10 years.
mrgolf
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Post by njcookies Tue Mar 01, 2011 6:19 pm

I put gas in my car last wk at 3.10/gal, I'm afraid to see what it is this week. Good thing I don't use too much gas being unemployed.

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Post by mrgolf Tue Mar 01, 2011 7:25 pm

njcookies wrote:I put gas in my car last wk at 3.10/gal, I'm afraid to see what it is this week. Good thing I don't use too much gas being unemployed.
I'm afraid it is going to be a lot higher than $3.10 per gallon. I can go about 1 month between fill ups.
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Post by JaneWI Tue Mar 01, 2011 7:25 pm

mrgolf wrote:
njcookies wrote:I put gas in my car last wk at 3.10/gal, I'm afraid to see what it is this week. Good thing I don't use too much gas being unemployed.
I'm afraid it is going to be a lot higher than $3.10 per gallon. I can go about 1 month between fill ups.

Some stations are at $3.39 a gallon, but WI seems to be a bit higher than most places.
JaneWI
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Post by Guest Tue Mar 01, 2011 7:33 pm

3.25 here today.
Shameful when you figure the gulf and a bunch of refineries are within 70 miles.

Guest
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Post by rubeNG Tue Mar 01, 2011 9:27 pm

its been around 3.67 (87 octane) over here.
rubeNG
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Post by mrgolf Tue Mar 01, 2011 11:22 pm

I think we will peak at $4.00
mrgolf
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Post by Jen Tue Mar 01, 2011 11:24 pm

mrgolf wrote:I think we will peak at $4.00
It's $3.48 here and I heard on the news the other day that it could be $5.00 by summer.
U.S. Consumer Spending Cools as Food, Fuel Costs Climb 750548
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Post by Sunrise Tue Mar 01, 2011 11:39 pm

mrgolf wrote:
Jen wrote:
Stocks end day lower as Bernanke warns about oil
Fed boss tells congressional committee surge in prices could lead to weaker growth

http://www.msnbc.msn.com/id/41845280/ns/business-stocks_and_economy/


NEW YORK — Stocks ended lower Tuesday
after construction spending dropped to its lowest level in nearly a
decade and Federal Reserve Chairman Ben Bernanke said rising oil prices
could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on
anti-government protesters. Prices surged 13 percent last week with
unrest in the Middle East and North Africa.

Stocks ended lower Tuesday after construction spending dropped to its lowest level in nearly a decade and Federal Reserve Chairman Ben Bernanke said rising oil prices could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on anti-government protesters. Prices surged 13 percent last week with unrest in the Middle East and North Africa.

Major Market Indices
Bernanke, in testimony to the Senate Banking Committee, said a prolonged increase in crude prices could pose a risk to the recovery. But he predicted only a temporary increase in inflation, not runaway prices. The Fed chief also said he expected the economy to grow this year, but not at a pace fast enough to quickly lower the 9 percent unemployment rate.
Story: Bernanke warns recent oil price surge could impede U.S. growth
The Commerce Department reported that builders began work on fewer homes, offices and commercial projects in January. The annual rate was near its lowest level 10 years.

This is not sounding good at all. U.S. Consumer Spending Cools as Food, Fuel Costs Climb 76367
Sunrise
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Post by Phillymg Wed Mar 02, 2011 12:24 am

Jen wrote:
mrgolf wrote:I think we will peak at $4.00
It's $3.48 here and I heard on the news the other day that it could be $5.00 by summer.
U.S. Consumer Spending Cools as Food, Fuel Costs Climb 750548
Should have been $5 or more long ago but Congress has subsidized the oil industry for decades. Big Oil knew there was a 'price point' it needed to maintain to prevent the alternative energy (electric cars, high-speed rail, wind, solar) from coming on line in a big way. They wanted *all* the profits to themselves. However the revolutions in the Middle East have been out of their control. But the corporations have never been much for letting a good disaster go to waste......so instead of hiking gas immediately to $5 & letting the chips fall where they may (& witness a public outcry for alternative energy) they're killing the American public with death by 1,000 cuts.....every day it's 5-7 cents more a gallon.

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Post by Jen Wed Mar 02, 2011 10:39 am

https://www.youtube.com/watch?v=rhoDLqwjzpY
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Post by UPCHITCREEK Wed Mar 02, 2011 10:48 am

Jen wrote:https://www.youtube.com/watch?v=rhoDLqwjzpY


Talk about hitting the nail on the head ...... U.S. Consumer Spending Cools as Food, Fuel Costs Climb 990903

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Post by mrgolf Wed Mar 02, 2011 11:30 am

$3.59 is the lowest price here in Santa Rosa today
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Post by JaneWI Wed Mar 02, 2011 12:19 pm

Jen wrote:https://www.youtube.com/watch?v=rhoDLqwjzpY

Good video. Thank you for sharing! Smile
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Post by rubeNG Wed Mar 02, 2011 5:49 pm

mrgolf wrote:$3.59 is the lowest price here in Santa Rosa today

3.71 lowest here today.
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Post by JaneWI Wed Mar 02, 2011 5:52 pm

According to Gas Buddy, some of the gas stations are now charging $3.44 and $3.45. I filled up last Thursday at $3.19.
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