Amidst all of the hoopla about record stock market highs, a little thing that impacts the bottom 99% a little more has been conveniently overlooked by the corporate MSM. In the last three weeks the stock market has SOARED by 400 points and the pundits on CNBC have been cackling and rejoicing. This was a 2.7% increase in three weeks.
Meanwhile, in the real world, oil prices have gone up from $91 a barrel to $96 a barrel over this exact same time frame. For the math challenged, this was a 5.5% increase, or double the increase in the stock market. Thank you Ben Bernanke.
Which of these increases has a bigger impact on the lives of average Americans?
The chart below reveals the lag between oil price changes and gasoline price increases. With gas prices still above $4.00 per gallon in major metropolitan areas, you are about to get it up the ass again. Gasoline prices will be rising back towards their February peaks in the next few weeks. This isn’t the story you will be hearing in the MSM. All is well. Buy stocks. We have 100 years of oil right here in America, even though we import 10 million barrels of oil per day. Don’t question the official storyline.