Don't TPTB realize high gas prices will put the US economy in the toilet?

[raccoon]

As if it isn't already. It may be that the superrich just don’t give a toot, but it’s awfully shortsighted of them not to consider the other 98% of the American population.

Yesterday I heard a teacher talking about where will the school district get the money to buy gas to operate the buses. I guess they'll cut somewhere else.

People will travel less, which will make tourism suffer. Which means less tax revenue for areas that rely heavily on tourism.

Because people are spending more for gas and everything else, due to the ripple effect, they'll spend less money on "wants"--which will hurt small businesses, from plant nurseries to pet groomers. Which also means less tax revenues for city, state, and county goverments.

Reduced tax revenues will mean reduced services and/or layoffs of government workers.

The few at the top of the pyramid will benefit, but what about the other 98%? This is like a farmer who doesn't care if all his chickens die, doesn't think about he won't have any more eggs or fried chicken.

I posted this in another thread but decided to start a thread with it.

[TheCowsCameHome]

1. They are in denial.

They still think the economy is doing just fine.

They are in for a rude awakening.

[hobbit709]

TPTB don't care about that

the less we have the happier they are-until the torches and pitchforks come out.

[n2doc]

2. They really don't give a crap about anyone else

So long as they can find someone to trim the lawns and clean their houses, they probably like it. I mean, fewer people doing things like traveling means less lines, less crowded restaurants, hotels, etc. And of course as the economy sinks further they can pick up all sorts of bargains! :sarcasm:

[Tuesday Afternoon]

3. excuse me ---acronym TPTB

enlighten me, please and k and thx and bye :D

[atommom]

4. The Powers That Be. nt

[raccoon]

5. But it seems like people at the high end of the middle class, for instance,

some doctors and lawyers, may be agonizing that their portfolios are sinking. Seems like this kind of person--especially a lot of them--would have SOME influence.

[durablend]

6. Top 1% have their riches

They don't give a damn about the other 99% of us. Soon as things look like they're going to implode here, the rich are off in their private jets to Dubai.

[KharmaTrain]

7. Ever Heard Of Vulture Capitalism?

As my mother once said, for every person who loses a dime, someone else is making one.

In the late 90's during the dot com boom, I worked with an investment banker at a major investment house. He would tell me about some of the most outrageous loans the company had made and we both knew the shell game that was going on here. Those "in the know" would jump in on the IPO...make a bundle on the price run up and then bail...when the company finally collapsed, this guy would then go in and buy up the assets of the company for pennies on the dollar and sell them off...he made it coming and going. There are others doing the same in this economy. You don't see them...deliberately.

Many big rollers continue to make money...they swtiched from speculating on mortgages to oil and now onto food...when one game taps out, time to move onto the next. It's all about the short-term bottom line...no concern whatsoever for any ramifications...that's your problem.

For the past 30 years...since the "Raygun Revolution", this culture has worshiped wealth and greed. When a guy games the system and makes big money, he's called a "genius"...the poor guy doesn't stand a chance. One means the little guy has gotten screwed is by the partisan games that have been played. If you're not rich, it's your fault. People have been brow-beaten into thinking not only shouldn't they pay taxes, but they should get rebates every year. And, if you don't have the money, don't worry...just charge it.

Cheers...

[Jim__]

8. Stop whining! The economy is doing great.

Don't you listen to Phil Gramm? :sarcasm:

[Bonhomme Richard]

9. You have to remember where they get all their advice.

It is a closed loop.
All those that are "advisor's":
1. Have theirs
2. Still want more
3. Wouldn't admit they were wrong even if they thought so.
4. Are currently figuring out (excitedly, almost to the point of orgasm) ways to make more money on a down economy.
5. Truly believe "Let them eat cake" and that they are entitled to their riches because the rest of us are not as smart or ambitious than they are.

[dysfunctional press]

10. just wait until the christmas shopping numbers start coming in...

especially if gas is on it's way to $6/gallon by then.

[The2ndWheel]

11. And low gas prices will increase the impact we have environmentally

Because there will be more school buses, people will travel more, spend more money on "wants", the increased tax revenue which will increase services, and the other 98% will keep chasing the few at the top, never quite catching them.

Unfortunately, everyone will not be able to have everything.

It's a no-win situation. To eradicate poverty, everyone needs to have access to more energy. The more energy everyone has access to, the greater impact we have on the planet. That's why as long as there is a single poor person, we can't decrease our energy use. However, if we ever actually decrease our overall energy use, there will be more poor people. Physical reality can suck.

[Romulox]

12. We were all cut throat "free traders" when times were good. Now everybody's busting out tiny flags

Sorry, we've been told it is patriotic to let the devil take the hindmost ("free trade", etc.) by both Democrats and Republicans for 30 years now.

3,000,000 manufacturing jobs lost in the past decade, and nobody cared. Now you want me to worry about government workers and tourism jobs? Are you serious?