Could Low Gas Prices Really Pose This Threat To Your Savings

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IF YOU THOUGHT THERE COULD BE NOTHING WRONG WITH PLUMMETING GAS, YOU MAY BE SURPRISED BY HOW MUCH YOUR SAVINGS ARE TIED TO THE SUCCESS (AND FAILURE) OF BIG OIL.

low gas prices Could Low Gas Prices Really Pose This Threat to Your Savings?

From Rachel Mills

After November’s midterm elections, we had been waiting with bated breath for gas prices to rise again. After all, they usually seem to dip and surge around elections. Or maybe that is only how it seems some years. Memory can be so selective.

But this time the surge in prices following the election hasn’t happened. We suggested to readers, tongue-in-cheek, to fill up their tanks on the way to the polls in anticipation for that post-election upswing, but instead, prices have kept falling. And so, instead of behind-the-scenes forces struggling to manipulate prices downwards for the benefit of the political class, it seems instead that something else is going on. [Read more…]

Tanking Ruble Stings Russian Consumers

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AS THE WORLD IS MOVING INEXORABLY AWAY FROM THE DOLLAR, COULD WE ONE DAY BECOME WITNESS TO A SIMILAR SCENARIO HERE IN AMERICA?

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Moscow-Retail-StoreFearing hyperinflation, Russian consumers aren’t taking any chances so they hurried into stores Wednesday to buy big ticket items before prices were forced further up by the rapidly plunging value of the ruble.

This week the Russian ruble has hit a record low of 80.10 against the dollar on Tuesday, raising fears of bank runs. The currency lost 19% of its value in just the past three days amid the worst financial crisis the country has seen since the late 1990s. Cars and home appliances were flying off the shelves – in some cases in record numbers, according to the Associated Press.

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