Tuesday, November 13, 2007

Buddy, can you spare a gallon?

According to historical sources, scarcity of bread, not the cost of a loaf, spurred on the French Revolution (along with conspiracy theories of hoarding, export schemes, etc.)

However, in Venezuela, the riots of 1989 which caused the death of thousands were set off by an increase in gasoline prices.Now they are considering decreasing the subsidy which has kept gasoline to 7 cents a gallon or about $1.50 per Hummer tank.

The costs to Americans are hidden yet real.

What this Cow wonders is: will gradual increases in costs, forestall a sudden revolt? Is it only scarcity that leads to social revolution? Gas lines, not gas prices?

And, Cow wonders why, if so many families are absorbing higher fuel, heating, and food costs, why isn't there a general economic depression from consumers cutting back other purchases?

Is everybody just charging it?


Blogger Watercolor said...

Well, I know I *am* cutting back on other purchases. Between gasoline, electricity, prescription drugs, groceries, and health care costs rising, I don't have as much income left over at the end of the day. Just made my christmas list. The budget is much smaller than last year. I'll have to shop smarter. And I'm not driving all over town to do it, either. :)

1:32 PM  
Blogger The Topiary Cow said...

Cow has been cutting down too. It is a real puzzle how these other people still buy all this stuff.


10:39 AM  
Blogger R. Jacob said...

2 years later, now we know the answer.

4:32 PM  

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