Some economists are so woeful on the diminishing strength of the US dollar, they’re predicting $6/gallon gas before the summer is over. Of course, it’s not merely the weakness of the dollar that plays into this, but the US’s insane demand for dozens of boutique gasoline blends over the summer months, using Algorism excuses.
Now more than ever, this economy needs the budgetary restraint Paul Ryan’s budget promises; in fact, he needs a whole lot more than than, but at least Ryan is running in the right direction, which is to slash spending. Not just slow the rate of growth, but real cuts that result in real savings. Maybe Ryan and Wisconsin Governor Scott Walker need a Mega Meeting web video conferencing solution to get the message across; that’d be a nice counter to President Obama’s fake Facebook town hall.
Should I renew my prediction of $12/gallon gas in light of the panicked predictions of economists?