Thu, Feb 16, 2012 - 10:20am
This is a fascinating essay on the extreme drop in gasoline consumption over the last couple of years. https://www.oftwominds.com/blogfeb12/gasoline-tanking02-12.html
Here's the takeaway:
"If we stipulate that vehicles and fuel consumption are essential proxies for the U.S. economy, then we can expect a steep decline in economic activity to register in other metrics within the next few months.
Such a sharp drop would of course be "unexpected" given the positive employment data of the past few months. But as the data above shows, employment isn't tightly correlated to gasoline consumption: gasoline consumption reflects recession and growth.
In other words, look out below."
Edited by: Paladex on Nov 8, 2014 - 5:02am