mikechamp wrote:Wasn't there a study done that showed you can get the same (or better) gas mileage at 60 MPH? I always thought they did the testing at 55 MPH because that used to be the old federal highway speed limit
TheoSqua wrote:
There are a lot of middle classed people who live right at, or above their means. The top-end consumers won't be bothered by the gas crunch, but the people who are barely able to sustain their current standard of living and probably shouldn't have even purchased the hummer in the first place will have to made adjustments. I know several people personally who own giant gas-guzzling cars that they probably shouldn't have purchased that are hurting by the gas, among other things. I don't think the gas specifically killed them, but it was enough to make them decide to downsize.
It's really no different than the housing crunch right now. People who were probably living beyond their means before are feeling the squeeze. It doesn't really affect those who made smart house buying decisions, except that the bubble-bursting has hurt their property values.
Overall, Americans over the last 20 years or so have been generally living beyond their means, and that's reaching a crescendo (sp?). Comparisons could be made to the roaring 20's.
I don't like being compared to the 20s, cause that means the 30s are next...
TheoSqua wrote:
There are a lot of middle classed people who live right at, or above their means. The top-end consumers won't be bothered by the gas crunch, but the people who are barely able to sustain their current standard of living and probably shouldn't have even purchased the hummer in the first place will have to made adjustments. I know several people personally who own giant gas-guzzling cars that they probably shouldn't have purchased that are hurting by the gas, among other things. I don't think the gas specifically killed them, but it was enough to make them decide to downsize.
It's really no different than the housing crunch right now. People who were probably living beyond their means before are feeling the squeeze. It doesn't really affect those who made smart house buying decisions, except that the bubble-bursting has hurt their property values.
Overall, Americans over the last 20 years or so have been generally living beyond their means, and that's reaching a crescendo (sp?). Comparisons could be made to the roaring 20's.
In terms of vehicle purchases, sure. But not in terms of consumer goods in general. Shipping costs are skyrocketing and that's spilling over into areas where even responsible consumers are being affected. Produce especially, where increased labor costs are already driving prices up - the added fuel costs to move the goods is just adding insult to injury.
maddash wrote:
In terms of vehicle purchases, sure. But not in terms of consumer goods in general. Shipping costs are skyrocketing and that's spilling over into areas where even responsible consumers are being affected. Produce especially, where increased labor costs are already driving prices up - the added fuel costs to move the goods is just adding insult to injury.
The average credit card debt is well into 5 digits. Assuming most of that is consumer goods, I would consider that meaning a lot of Americans live beyond their means in that regard as well.
EDIT: But that is probably driven by them living beyond their means with their big ticket bills (cars, house).
maddash wrote:
In terms of vehicle purchases, sure. But not in terms of consumer goods in general. Shipping costs are skyrocketing and that's spilling over into areas where even responsible consumers are being affected. Produce especially, where increased labor costs are already driving prices up - the added fuel costs to move the goods is just adding insult to injury.
The average credit card debt is well into 5 digits. Assuming most of that is consumer goods, I would consider that meaning a lot of Americans live beyond their means in that regard as well.
EDIT: But that is probably driven by them living beyond their means with their big ticket bills (cars, house).
Yeah, I'm talking about things that aren't luxury/big ticket items. Rising oil prices are affecting things like stable foods, etc... simply because of production and transportation costs.
maddash wrote:
Yeah, I'm talking about things that aren't luxury/big ticket items. Rising oil prices are affecting things like stable foods, etc... simply because of production and transportation costs.
I fully realize that, and actually made reference that IMO it's a bigger concern than your individual commuter fuel costs.
I think we should consider a system where consumer fuel costs more than commercial/industrial fuel. That way you give the public incentive to change their habits, while not crippling the rest of the economy.
Popeye_Card wrote:The average credit card debt is well into 5 digits.
That has always amazed me. I don't carry a balance, and I'm sure there are others out there who do the same. So, that means there are some people who are way the hell over the average.
Popeye_Card wrote:The average credit card debt is well into 5 digits.
That has always amazed me. I don't carry a balance, and I'm sure there are others out there who do the same. So, that means there are some people who are way the hell over the average.
I pay off my balance every month so I don't pay interest, but I carry about $1000 at any time, just because I put everything on my card to get points. So that bumps up my average a little bit, I guess.
Most people I know are around $3000 to $6000. But yeah, I'm guessing there's a lot of people out there with well over $20k, $30k, heck even $50k in credit card debt.
Popeye_Card wrote:The average credit card debt is well into 5 digits.
That has always amazed me. I don't carry a balance, and I'm sure there are others out there who do the same. So, that means there are some people who are way the hell over the average.
I pay off my balance every month so I don't pay interest, but I carry about $1000 at any time, just because I put everything on my card to get points. So that bumps up my average a little bit, I guess.
Most people I know are around $3000 to $6000. But yeah, I'm guessing there's a lot of people out there with well over $20k, $30k, heck even $50k in credit card debt.
Oops. Sorry, Popeye. I misinterpreted what you initially said.
I meant that I carry a balance, but don't carry over a balance from 1 month to the next. And I have no idea what my monthly average is, because it fluctuates greatly. Sometimes, it'll be as low as $200, but occasionally as high as $3000.
