Monday, June 9, 2008
Evidence that People are Over-reacting to Gas Prices.
...or is the media hyping something that really isn't there. It seems to me more and more that people's expectations of gas prices are grossly out of whack with reality, and that individuals and corporations that make decisions based on these potentially misguided expectations are going to be in for a rude awakening. But I don't think people are going to drive less in droves, and (perhaps after hysteria of price expectations dies down) I don't think people are going to want to sell their luxury SUV's in the middle of a recession in order to buy a SMART car.