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Chart Of The Day: Plunging Gasoline Demand vs The "Soaring" Recovery And Record Dow Jones

Tyler Durden's picture


Let's try to spin this: "Gas demand is plunging on a soaring economy, a record DJIA and a more resilient consumer"... Hm, no, that didn't work. Let's give it another try: "Surge in sales of flaming paperweights known as Chevy Volts leads to a plunge in gasoline demand." Uh, no. One last try: "Consumers migrate to Flintstonemobiles, gas up what internal combustion engine cars they have with redbull vodka"... Sorry, we suck at this "spin" stuff -  we will leave it to CNBC. They are the real pros.



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Thu, 03/07/2013 - 11:04 | 3308564 Translational Lift
Translational Lift's picture

No comment necessary!! Paul Krugman Files Chapter 13 Bankruptcy Thursday, March 07, 2013 Paul Krugman, the king of Keynesianism and a strong supporter of the delusion that you can print your way out of debt, faces depression at his very own doors.
According to this report in Austria's Format online mag, Krugman owes $7.35 million while assets to his name came in at a very meager $33,000. This will allow the economist and New York Times blogger to get a feel of how the majority of Americans go about their dreadful lives without any savings and a social system that will only shed pennies to him.
Krugman's list of debts shows a stunning similarity as to what's wrong these days.
The biggest chunk is related to a $8.7 million loan for his Manhattan condo, followed by $621,000 in credit card debt. Krugman probably is not seen of 5th Avenue anymore. Among his list of creditors, Tiffany's stands out with a $33,000 in open collections.
Things really went downhill for the star economist. His Manhattan residence lost 40% in value and makes one wonder how can somebody do so bad in the best of all US property hotspots.
Krugman went deeper into the red by impulsive shopping splurges, throwing his money after Portuguese wines and British dresses from the Victorian period, flattening his Black Amex card by $84,000 in one month.

Click here to go to the The Prudent Investor homepage for more interesting posts.

Thu, 03/07/2013 - 11:04 | 3308574 hedgeless_horseman
hedgeless_horseman's picture





There has never been a better time
to buy or lease a new GM!

Hurry now to your nearest GM dealer
before inventories increase even more!

2013 GM Yukon Denali AWD
403 HP
13 CTY / 18 HWY

Nicely equipped for only


Easy credit available through Ally Bank!

On*Star tracking and cabin recording included free for 6 months,
then you pay to be tracked and recorded.

Thu, 03/07/2013 - 11:09 | 3308594 insanelysane
insanelysane's picture

Me thinks the OnStart fine print was added.  If you opt out of OnStart, I am sure your mobile phone company has provided a connection to the gov which the gov gladly pays them for.

Thu, 03/07/2013 - 11:18 | 3308629 Big Slick
Big Slick's picture

Bernanke: "Everything is proceeding as I have forseen."

Thu, 03/07/2013 - 11:25 | 3308666 Big Slick
Big Slick's picture

"Paul Krugman Files Chapter 13 Bankruptcy Thursday, March 07, 2013"

Maybe there actually IS a God!

Thu, 03/07/2013 - 11:34 | 3308687 hedgeless_horseman
hedgeless_horseman's picture



Alas, it is a false rumor; his life's work should only bankrupt the USA, not himself.

Thu, 03/07/2013 - 11:36 | 3308726 Big Slick
Big Slick's picture

Pity.  I guess Krugman's reckoning comes in the next life, not this.

Thu, 03/07/2013 - 11:40 | 3308742 TruthInSunshine
TruthInSunshine's picture

Daily Currant is like the Onion.

Krugman would never impose neo-Keynesian madness on his own wallet.

Thu, 03/07/2013 - 11:53 | 3308786 ParkAveFlasher
ParkAveFlasher's picture

+10,000 Hedgeless Horseman

I'll take my Escalade with a personalized hood ornament - a little cast chrome Krugman head sipping champagne.   In fact, I'll have that in platinum.

Thu, 03/07/2013 - 12:24 | 3308897 bobola
bobola's picture

I am part of the gas consumption problem, and proud of it.

Commute to work via bike 4-5 days per week.

Thu, 03/07/2013 - 12:27 | 3308910 Big Slick
Big Slick's picture

"hood ornament - a little cast chrome Krugman head sipping champagne" 

Mine will be a reverse imprint of the real thing on the grill

Thu, 03/07/2013 - 12:40 | 3308962 ParkAveFlasher
ParkAveFlasher's picture



Thu, 03/07/2013 - 13:13 | 3309099 TBT or not TBT
TBT or not TBT's picture

A little hate does a body good.

Thu, 03/07/2013 - 13:53 | 3309217 Big Slick
Big Slick's picture

I got a kick out of the CPA's "expert" advice in the article: "It’s not a good idea to raid your retirement; you’re getting money now that you’ll need to live on when you’re older."  N.S., Sherlock.

Thu, 03/07/2013 - 13:40 | 3309178 spiral galaxy
spiral galaxy's picture

Your also part of the healthcare problem by draining money from the medical community by being personally responsible for your health!  Ditto the expensive automotive aftermarket, repair, insurance and .....gasp!!........the state and local revenue streams that depend on law breakers that they fine, fee and surcharge!!  All those jobs you could have created by being a sloth!!  Seriously, have you no conscious?!!  Immediately give up your bike, join the hordes wasting fuel in traffic jams and filling their gut with fast-food as they sit in front of their TV set as a vegatable of media marketing!!! :-)

P.S. I commute by bike 5 days a week in addition to small around-town errands, etc., averaging nearly 3000m per year and saving a fortune in gas, mass transit fees and medical bills.  Enjoy!!! :-)

Thu, 03/07/2013 - 15:39 | 3309561 James_Cole
James_Cole's picture

Switched to bike to get into better shape... never looked back. Unfortunately not everyone can do it - a lot of places not exactly conducive to bike transport.

But if it's an option I highly recommend it for a lot of reasons, everytime I pass by a traffic snarl I think thank God that's not me anymore!

Thu, 03/07/2013 - 17:30 | 3310102 FrankDrakman
FrankDrakman's picture

As soon as the snow is clear, I'll be riding my bike to work. Time on public transit ~ 40-50 minutes. Time on bike ~ 30 minutes. Savings: $100/month. Feeling like a kid again: Priceless.

Thu, 03/07/2013 - 17:28 | 3310095 FrankDrakman
FrankDrakman's picture

averaging nearly 3000m per year

3km a year? BFD - I do that in ten minutes.

Thu, 03/07/2013 - 12:36 | 3308952 Pooper Popper
Pooper Popper's picture

Ha Ha cnbc stopped their commentery because everyone was calling out their Blatant lies

Between diane o boot licker and mr LIESman not a single truth can be found!

Thu, 03/07/2013 - 11:59 | 3308729 AlaricBalth
AlaricBalth's picture

HH, you are correct. False rumor. The Daily Currant article lists his attorney as Bertil Ohlin. Bertil Ohlin was actually a Nobel winning trade economist and a leader of the People's Party of Sweden. Also, a mention of H. Minsky as the purchaser of Krugmans NY apartment was a big hint.

Amazing how the blogosphere is running with this.

Thu, 03/07/2013 - 15:16 | 3309479 walküre
walküre's picture

Krugman personally smashed the windows in his Manhattan appartment to stimulate growth!

Thu, 03/07/2013 - 12:08 | 3308823 medium giraffe
medium giraffe's picture

Seems fitting somehow that Krugy and the Kenyan have been given a prize named after the daddy of dynamite.

Thu, 03/07/2013 - 13:07 | 3308901 francis_sawyer
francis_sawyer's picture

See ~ thats where the mix-up occurred... The "Daddy of Dyn-o-mite' award for Obama was supposed to be the coveted Jimmy "JJ" Walker prize, not a Nobel...

Thu, 03/07/2013 - 12:43 | 3308979 hapless
hapless's picture

Fake, but accurate.

Thu, 03/07/2013 - 12:50 | 3309009 Stock Tips Inve...
Stock Tips Investment's picture

Looks like Krugman a Keynesian policy to implement their own personal finances. As they say in my country ... drank of his own medicine.

Thu, 03/07/2013 - 15:39 | 3309562 20-20 Hindsight
20-20 Hindsight's picture

One has to wonder: is this the same "Paul Krugman" who's making a complete ass of himself on ZH forums?  Either way, if the one who is posting here is an impostor, he's doing a grand imitation of the real one.  If this IS the real Krugman, well I guess that would explain everything: the man has lost all his marbles, literally.  

Thu, 03/07/2013 - 11:38 | 3308703 TruthInSunshine
TruthInSunshine's picture

U.S. gasoline consumption is now at levels last seen 10 years ago.







Thu, 03/07/2013 - 12:07 | 3308821 CrashisOptimistic
CrashisOptimistic's picture

Folks, the very best rebuttal to the "better gas mileage" and "electric cars" claims that want this to be good news is to go to the Transportation statistics and look at miles driven by all road vehicles, from trucks to motorcycles to SUVs to cars.

They are down significantly from 2007 -- and let's not forget there's 1/2 a decade of population growth in that stat.

It's a complete disaster and we're being lied to.

Thu, 03/07/2013 - 12:32 | 3308932 TriGuy
TriGuy's picture

Population density = less driving + more efficiency.

I thought this was a well known fact.

Thu, 03/07/2013 - 12:39 | 3308938 CrashisOptimistic
CrashisOptimistic's picture

You have it wrong.  If that were causative, there would be no increase in US car sales.  Nor would electoral votes be shifting AWAY from the over urbanized northeast to the less urban south and west.

Thu, 03/07/2013 - 12:39 | 3308963 TriGuy
TriGuy's picture

What you just said makes no sense.

1. Our population is growing more quickly than other industrialized countries, therefore more demand for vehicles.

2. We got hit by a hurricane that destroyed 250,000 vehicles, therefore more demand for vehicles.

3. While we have more population and more vehicles, that population is overwhelmingly located in major cities, and becomes more and more so every year. This means less distance traveled and therefore less gas usage.

People get sick of gas prices and BS commutes and move into the city to be closer to work. I'm not sure why this is so hard to understand.

Thu, 03/07/2013 - 12:49 | 3309004 TruthInSunshine
TruthInSunshine's picture

Regardless as to the particulars of what you claim, TriGuy, you are not arguing that gasoline consumption in the U.S. has essentially fallen back to 2003 levels, correct?

Would you further concede that Americans are driving fewer miles on average annually than at any time in at least 10 years (I believe AAA came out with a study that claimed something closer to 20 years, but I can't find the link now)?

If so, I will move on to your particulars, and I think any claim that the purchase of alternative fuel/electric vehicles has had any significant effect in reducing gasoline use, or that the number of people who used to live in cities but who now have moved back to an area not requiring any or as much commuting has been a significant factor in curbing gasoline consumption, is garbage.

Thu, 03/07/2013 - 12:56 | 3309035 TriGuy
TriGuy's picture

Agreed, the use of alternate fuels has had a marginal impact.

What I'm arguing is that the reduction in demand for gasoline and the reduction of miles driven is not necessarily a negative economic indicator. It most likely is just a confirmation of what we already know, people are moving in to the cities and closer 'burbs.

Thu, 03/07/2013 - 14:08 | 3309263 cossack55
cossack55's picture

It appears those pesky moths continue to gather at the flame.  Never ends well.

Thu, 03/07/2013 - 18:08 | 3310281 FrankDrakman
FrankDrakman's picture

 I think any claim that the purchase of alternative fuel/electric vehicles has had any significant effect in reducing gasoline use, garbage.

Agreed. However, average fuel economy in gasoline powered cars and trucks is up significantly since 2003. Cash for clunkers may have been ill-thought out, but it did get thousands of decade old (e.g. 1990-1995) cars off the road, and those cars were lucky to be getting 20 mpg even if they were compacts (given engine wear, declining efficiency, poor maintenance, etc.). Every time you swap out a car getting 10 mpg with one getting 40 mpg, there's going to be an impact on overall consumption.

Fri, 03/08/2013 - 13:11 | 3312506 Dealyer Turdin
Dealyer Turdin's picture

My '93 gets 38 mpg.  And has mad power...I think the 3-4 bangers in the 90's and the 22-re's are some of the best motors ever built, without all the extra hoodoo parts modern-er rides have.  They were'nt disguising inflation by outsourcing cheaper parts re- Benz and Toyota.

Nor do you really ever have to go see a mechanic if you have the penchant.  No dealership anti-theft lockout...  I feel sorry for people with newer cars when they start crappin' out, so does my buddy, the dealership auto parts manager.  He won't part with his 2003 4wd 4 cyl tacoma no matter how high the miles go, it's worth it just to service it to him.

Planned obsolescence on tons of bells and whistles is going to eat this latest round of cars alive, is all I'm sayin.

Thu, 03/07/2013 - 12:53 | 3309022 NotApplicable
NotApplicable's picture

Other than an exercise in conjecture, I'm not sure why you think this urbanization is happening.

The only cities I see growing at all are education/hospital/government centers. You know, all the places where money from Uncle Sugar first flows. Any city that depended upon commerce seems in decline, with the exception of areas out West where mining and fracking occur.

Thu, 03/07/2013 - 13:02 | 3309053 TriGuy
TriGuy's picture

You don't follow technology too closely do you?

San Francisco





I can keep going all day if you want. Welcome to the future.

Thu, 03/07/2013 - 13:17 | 3309091 TruthInSunshine
TruthInSunshine's picture

I agree that you're deeply engaged in conjecture, but I'll try to find some credible data that would indicate that this "urbanization" you speak of, at best, mainly lures already urbanized residents and workers (as in the "technology field" that you emphasize) from one urban locale to another one.

If this weren't the case, you're essentially trying to build a case that there's been a significant de-suburbinization of America, where a relatively large number of previous suburban commuters have migrated to urban core areas possessing efficient and widely used mass transit, to such a degree and in such numbers (on a net basis, meaning that it also offsets the number of people who've moved from urban areas to suburbia) that it's had a meaningful impact on reduced gasoline consumption (i.e. voluntary versus mandatory consumption).

I'd suggest that the unemployment, underemployment, labor force participation rate and real wage-income/benefit trends are the real reason driving reduced gasoline consumption (pardon the pun), and not some claim on mass urbanization.

Thu, 03/07/2013 - 13:58 | 3309232 TriGuy
TriGuy's picture

First of all, America does not consist of just urbanites and suburbanites. People moving from rural areas to the suburbs would still constitute an increasing population concentration. The net flow in America is towards population concentration, and increasingly jobs are becoming available in the suburbs. On average people simply have to commute less to get to work.

No one said anything about "efficient and widely used mass transit". If I live in the city and drive my car to work in the city, I don't drive as much as I would if I lived in the burbs and drove my car to the city.

Thu, 03/07/2013 - 14:34 | 3309345 TruthInSunshine
TruthInSunshine's picture

You're still essentially arguing that a significant reduction in U.S. gasoline consumption is at least in significant part attributable to a net positive population shift from suburbs to urban areas, though, unless I'm misinterpreting your claim.

Thu, 03/07/2013 - 13:08 | 3309074 Ghordius
Ghordius's picture

ehmm... the US has overtaken europe in urbanization - though your definition of "urban" is slightly different, particularly when it's about pop density and "walkability"

I believe there was this US president who hoped this would never happen, but here we are

Thu, 03/07/2013 - 13:10 | 3309083 Spastica Rex
Spastica Rex's picture

He Who Should not be Named.

Thu, 03/07/2013 - 13:38 | 3309172 TBT or not TBT
TBT or not TBT's picture

Harding was a helluva president, following that statist control freak W...n, who indeed must not be named.

Thu, 03/07/2013 - 13:39 | 3309175 TruthInSunshine
TruthInSunshine's picture


Thu, 03/07/2013 - 15:29 | 3309529 prains
prains's picture


Thu, 03/07/2013 - 13:42 | 3309184 TBT or not TBT
TBT or not TBT's picture

Walkability in swaths of european urban zones demands muzzle headgear for the women. So, fail, even though the thought was nice.

Thu, 03/07/2013 - 13:42 | 3309185 TBT or not TBT
TBT or not TBT's picture

Walkability in swaths of european urban zones demands muzzle headgear for the women. So, fail, even though the thought was nice.

Thu, 03/07/2013 - 13:42 | 3309186 TBT or not TBT
TBT or not TBT's picture

Walkability in swaths of european urban zones demands muzzle headgear for the women. So, fail, even though the thought was nice.

Thu, 03/07/2013 - 13:21 | 3309123 TBT or not TBT
TBT or not TBT's picture

Wishful thinking buy suburb and near countryside dwellers hoping the rest of the world would get off the roads they personally use. This also explains the political support for public transportation. Get the other people off the damn road so we can enjoy it. Also, once you have a McMansion with lots of green space around it, you want some lefty retards to declare the surrounding inviolable. Scarcity drives up your house price and keeps the section 8 dwellers further away.

Thu, 03/07/2013 - 12:50 | 3309002 Frank N. Beans
Frank N. Beans's picture

how the hell do they figure out the total number of miles driven? 


do they take the total number of gallons of gasoline sold and assign some average MPG number to it?  

Thu, 03/07/2013 - 13:01 | 3309050 hedgeless_horseman
hedgeless_horseman's picture





On*Star tracking and cabin recording included free for 6 months,
then you pay to be tracked and recorded.

Thu, 03/07/2013 - 13:22 | 3309129 TBT or not TBT
TBT or not TBT's picture

Phd economists, of course.

Thu, 03/07/2013 - 12:54 | 3309028 Stock Tips Inve...
Stock Tips Investment's picture

The Stock market is ahead of the curve. Prices do not reflect what is actually happening. On the contrary, the prices reflect what the market thinks will happen in the coming months.

Thu, 03/07/2013 - 13:24 | 3309132 TBT or not TBT
TBT or not TBT's picture

The heat death of the universe is the end point that should be priced in, on european stock markets at least.

Thu, 03/07/2013 - 11:09 | 3308597 tarsubil
tarsubil's picture

Don't worry. If you don't buy one for yourself, you'll buy one for your government. Have a nice day!

Thu, 03/07/2013 - 13:33 | 3309157 TBT or not TBT
TBT or not TBT's picture

Gimme one of those MRAPs the DHS is gearing up with.

Thu, 03/07/2013 - 11:14 | 3308618 DaveyJones
DaveyJones's picture

speakeasy credit available

cabin fever included free

Thu, 03/07/2013 - 11:19 | 3308624 Big Slick
Big Slick's picture

Arb if the day: $67k in worthless paper for a machine that can hold the family safe while it runs over zombies after the apocalypse

Thu, 03/07/2013 - 11:22 | 3308641 Big Slick
Big Slick's picture

... only good luck finding gas after the first tank runs dry

Thu, 03/07/2013 - 11:18 | 3308630 aerojet
aerojet's picture

That is fucking insane!  Ford F-Series trucks, which used to be in the "highly affordable, basic transportation for people who do real work" category are ridiculously over-priced and over-optioned, too.

Thu, 03/07/2013 - 11:33 | 3308709 Water Is Wet
Water Is Wet's picture

Yes, trucks turned into something for men who need to overcompensate on their daily commute using only paved roads in dense traffic.  You must get the "Kind Ranch Texas Special Harley Davidson Deluxe Edition" truck with leather, heated seats and ball tickler to be a real man.

On gas prices, I've refused to completely fill my gas tank for the last 75 cents of run up.  I buy a weeks worth of gas (about $20 bucks); won't completely fill up until prices aren't retarded again.

Thu, 03/07/2013 - 12:13 | 3308838 insanelysane
insanelysane's picture

And don't forget the guy in the commercial that can't get it up.  He needs horses to drag his truck through a little mud and no one I know seems to know why the stupid bastard didn't drive the truck around the mud puddle in the first place.  Sperm build up apparently leads to poor decision making, right Ben?

Thu, 03/07/2013 - 13:21 | 3309120 acetinker
acetinker's picture

LOL! Had to log in just to green ya' for that one!

Thu, 03/07/2013 - 12:17 | 3308860 climber
climber's picture

The ball tickler is such a great feature.

Thu, 03/07/2013 - 12:22 | 3308885 Big Slick
Big Slick's picture

Mine is the opposite: I get kicked in the head by a 4 year old every 10 seconds while the wife bitches at me

Thu, 03/07/2013 - 12:31 | 3308915 francis_sawyer
francis_sawyer's picture

So I take it that you have the 'voice activated' "Play ~ the wheels on the bus go round & round" MP3 player option... Plus ~ the bush guard headlight protectors, everyone needs those in the suburban jungle...

Thu, 03/07/2013 - 12:36 | 3308948 Big Slick
Big Slick's picture

Correction... it's "Elmo's Song" And I have the brain embolism to proove it :)

Thu, 03/07/2013 - 13:09 | 3309080 francis_sawyer
francis_sawyer's picture

Well at least if your brain embolism forces you to unexpectedly swerve violently off the road & crash, your headlights will survive intact ~ so you have that going for ya... 

Thu, 03/07/2013 - 13:49 | 3309207 fourchan
fourchan's picture

crashing demand leads to skyrocketing 4.00 a gallon gas. sounds perfect for this market o ponzi.

Thu, 03/07/2013 - 12:36 | 3308954 Raymond Reason
Raymond Reason's picture

'Real men' are looking more and more like real suckers on the other side of the gas pump. 

Thu, 03/07/2013 - 12:26 | 3308906 Seer
Seer's picture

I look at everything from the lens of it being a tool.  What I see is that increasingly more tools are being misused/under-used.  Yeah, ALL newer "light duty" trucks have become WAY over-spec'd and therefore make it harder to properly use to full effect.

I see what seems to be hundreds of these expensive turbo-charged diesels running the roads around where I live and I have to wonder how the hell people could/can afford them.  Yeah, I've got a diesel truck (bought it last summer for $2,500!), but it's 20 years old, no turbo (I like them, but cannot justify the price- and I don't want to be stuck with a bunch of electronics in order to have one) or electronic engine management bits.  It's a FARM truck that is used to HAUL "stuff" rather than people (or, as many around my neck of the woods do- haul worthless horses).

I've seen this movie before, back in the early 70s with the "muscle cars."  Seems as though this is a pretty good indicator that things are soon to fall WAY back down.  Not only are we having "muscle car" flash-backs but we're including "muscle trucks" now! (an ex-friend of mine, he never grew up from those days, boasts about racing his Hemi truck around- I asked him if that wasn't like professional womens basketball- if you want to go fast then do it in a fucking car! [if you want to watch the fastest basketball then watch professional mens basketball]; I suspect that this never did sit too well with him- I suppose better than a Hummer though, as at least you can use the bed for a planter!).

Thu, 03/07/2013 - 12:53 | 3308999 Raymond Reason
Raymond Reason's picture

I've spent a fair amount of time in Eastern Europe, and sometimes while creeping along in heavy traffic, i've tried to visualize what a brand new F-350 extended cab would look like nestled among the road weary Ladas, etc.   Well, the size of the truck would certainly be exaggerated by the sea of tiny compacts surrounding it.  But the striking thing would be the obvious attempt at penis compensation....i'd almost be embarrassed for the driver. 

Thu, 03/07/2013 - 13:03 | 3309059 hedgeless_horseman
hedgeless_horseman's picture



But the striking thing would be the obvious attempt at penis compensation

That does give me some insight into Mrs. Horseman.

Thu, 03/07/2013 - 13:34 | 3309149 Raymond Reason
Raymond Reason's picture

haha, she lives out in the sticks HH. 

And here in America, surrounded by 6500 lb, 70mph, elevated projectiles, it can be self defense.

Thu, 03/07/2013 - 13:47 | 3309201 TBT or not TBT
TBT or not TBT's picture

Inertia bitchez.

Thu, 03/07/2013 - 11:27 | 3308684 Never One Roach
Never One Roach's picture

also the ads on TV every five minutes for a 20,000 ton pickup truck that can pull 100,000,000 tons ...


all for "zero down!"

Thu, 03/07/2013 - 12:12 | 3308832 Cortez
Cortez's picture

Zero down is great but it is the $400 to $500 payment per month that keeps buyers away.  People figured out that driving a car longer is the way to go financially.

Thu, 03/07/2013 - 12:31 | 3308923 Big Slick
Big Slick's picture


Thu, 03/07/2013 - 12:33 | 3308935 Seer
Seer's picture

And wait until repairs are needed!  Heck, even simple maintenance is expensive!  And then there's also insurance...

I'm ALWAYS thinking about maintenance costs when I take on something new (or even replacing something).

"People figured out that driving a car longer is the way to go financially."


It would be financially devastating if I were to try and use my car to haul feed etc.. I'd break the thing!  Use the proper tool for the job! (think that people running semi trucks think that cars would be better?)

Thu, 03/07/2013 - 13:53 | 3309215 TBT or not TBT
TBT or not TBT's picture

Nissan charges 350 bucks to replace a headlamp on a Murano, lamp not included. It is a bear to get to. Supposedly older jeeps are more maintainable ..easier to get to everything means less labor cost...but those are UAW vehicles. Not going to support the Government Party's coffers n my country. Screw em' and their acquaintances too, by mere association.

Thu, 03/07/2013 - 12:09 | 3308825 Cortez
Cortez's picture

The FED should give every American of driving age $20,000 "Bernank Bucks" that have to be used to buy a car.  Our economy and GDP will be BOOOOMing.  Fuck any consequences later.

Fri, 03/08/2013 - 08:45 | 3311559 jerry_theking_lawler
jerry_theking_lawler's picture

yep, its all roaring back.....

my cousin told me that she and her husband were not successful on an offer they placed on a house earlier this week. they bid $5k over the asking price...and lost.

let the good times roll.....courtesy of uncle ben, of course.

Thu, 03/07/2013 - 12:27 | 3308908 bozzy
bozzy's picture

Hell! I told him not to wear those dresses particulalry after being so rude to that polite Spanish man last year.....

Thu, 03/07/2013 - 12:53 | 3309024 God Bless The V...
God Bless The Virtuous's picture


It could not have happened to a bigger scumbag PRICK!

Rot in hell you progressive / socialist scumbag prick!

Man, this just made my day!

Now if Barry would just see socialism for its true evil,

sorry lord, even you cant do that!

God save the Republic!

Thu, 03/07/2013 - 13:09 | 3309073 Turin Turambar
Turin Turambar's picture

If this is true, Krugman must have failed to take his own advice.  He just didn't spend enough.  ;-)

Thu, 03/07/2013 - 13:23 | 3309131 imapopulistnow
Thu, 03/07/2013 - 13:46 | 3309195 fourchan
fourchan's picture

lol! if true this is awsome.

Thu, 03/07/2013 - 16:03 | 3309653 Debt-Is-Not-Money
Debt-Is-Not-Money's picture


Thu, 03/07/2013 - 11:21 | 3308650 Svendblaaskaeg
Svendblaaskaeg's picture

of cause not, the banksters would never allow their tool to default

Thu, 03/07/2013 - 12:25 | 3308898 Big Slick
Big Slick's picture


Thu, 03/07/2013 - 11:33 | 3308708 Goggles Pisano
Goggles Pisano's picture

The Daily Currant is a satirical doubtful.

Thu, 03/07/2013 - 12:36 | 3308947 Seer
Seer's picture

Think that "Currant" is the clue? :-)

Thu, 03/07/2013 - 10:49 | 3308508 SelfGov
SelfGov's picture

Interesting that peak US gasoline consumption occurred shortly after the global plateau in oil production. Wait, not interesting, predictable...

Thu, 03/07/2013 - 10:51 | 3308517 DaveyJones
DaveyJones's picture

funny how that works. And it's not like a number of folks predicted these patterns

Thu, 03/07/2013 - 11:03 | 3308571 kaiserhoff
kaiserhoff's picture

Fleet vehicles are being converted to Nat Gas.  Railroads are already testing prototypes.

Gasoline will be one of many fuels, no longer the king of the road.

Thu, 03/07/2013 - 11:19 | 3308633 That Peak Oil Guy
That Peak Oil Guy's picture

You need a lesson in energy density.

Thu, 03/07/2013 - 11:23 | 3308658 Svendblaaskaeg
Svendblaaskaeg's picture

"You need a lesson in energy density"

..and energy storage

Thu, 03/07/2013 - 11:49 | 3308768 kaiserhoff
kaiserhoff's picture

You need some lessons on the real world.


Thu, 03/07/2013 - 12:12 | 3308828 CrashisOptimistic
CrashisOptimistic's picture

See my comment above about miles driven statistics being down sharply.

All attempts to ascribe gasoline consumption decline to something other than economic devastation are just silly.  We have 1/2 a decade of additional population and total miles driven are down 15-20% over that 5 years.

That has nothing to do with batteries, nat gas or anything other than fewer miles being driven.

Thu, 03/07/2013 - 12:29 | 3308916 TriGuy
TriGuy's picture

How about the U.S. population becoming more heavily concentrated in cities = less driving and more efficiency.

This is actually a positive economically speaking, and is pretty easily verified too.

Thu, 03/07/2013 - 12:36 | 3308950 CrashisOptimistic
CrashisOptimistic's picture

As I pointed out above, you have this wrong -- in two ways.

1) There has been an increase in cars purchased.  This alleged surge in city dwellers would be on subways.

2) The population migration in the US is from the overpopulated northeast southward and westward to less urbanized areas -- as demonstrated by electoral vote reapportionment.

Thu, 03/07/2013 - 12:41 | 3308970 TriGuy
TriGuy's picture

As above:

1) Due to a growing population and 250k vehicles destroyed by sandy.

2) Populations are moving into urban areas in the U.S. OVERWHELMINGLY. Look it up, this is a well recorded fact that you can't deny.

Thu, 03/07/2013 - 13:05 | 3309061 SamuelMaverick
SamuelMaverick's picture

Triguy, you are flat out spewing BS. 

Thu, 03/07/2013 - 14:03 | 3309242 TriGuy
TriGuy's picture

All you have to learn is how to use Google. Once you've done that everything I'm saying is easily verified.

Thu, 03/07/2013 - 16:13 | 3309691 SelfGov
SelfGov's picture

More people are moving to the city. It is because they could no longer afford the high car payment and high price of fueling the beast. This is called demand destruction.


EDIT: Duplicated post. Also the declines in miles driven coincide with increases in fuel price.


Thu, 03/07/2013 - 16:12 | 3309692 SelfGov
SelfGov's picture


Sat, 03/09/2013 - 20:22 | 3315938 SamuelMaverick
SamuelMaverick's picture

TRIGUY, there is not a shift to urbanization in the US.  Your source data is either crap, or you are unable to read demographic/population data correctly. 

Thu, 03/07/2013 - 12:42 | 3308977 Seer
Seer's picture

Um... how about the FACT that more and more people are UNEMPLOYED (and on food stamps)?  Think that THIS might be a big contributor to the decline (as well)?

This was my argument for why I spoke out against increasing transportation infrastructure.  In a small city where I used to live (be sure to account for those fleeing cities- many around me have done this [lots of influence by myself]) they boasted about commuter rail to a big nearby city.  Oh how excited people were... back then; now that many are likely unemployed AND indirectly PAYING to subsidize this I wonder what they think.

Meanwhile we continue to dig the hillsides for coal, pollute ground water for NG extraction, and funnel MASSIVE amounts of money into our war machine in order to keep the flow of oil going.  Cities, I'm afraid, are TOTALLY unsustainable (it's because of the necessary infrastructure, the one you're boasting about): history shows that people out in the country CAN survive without the cities; it doesn't show the converse.

Thu, 03/07/2013 - 13:58 | 3309234 TBT or not TBT
TBT or not TBT's picture

Homesteading bitchez. Is there an ETF for that?

Thu, 03/07/2013 - 12:47 | 3308998 Spastica Rex
Spastica Rex's picture

Look at the scale on your graph.

Thu, 03/07/2013 - 13:57 | 3309228 TBT or not TBT
TBT or not TBT's picture

Living crammed together is how Europe ended up under crushing statism with deadly low birth rates. Humans don't want to live crammed together.

Thu, 03/07/2013 - 11:04 | 3308575 jcaz
jcaz's picture

Oh man, he said "chevy volt"-  that always leads to the 14 dewches who actually bought one to show up here, spouting their Kool-Aid......

Thu, 03/07/2013 - 10:49 | 3308509 Rubicon
Rubicon's picture

Gas demand plunging due to poverty?

Thu, 03/07/2013 - 10:54 | 3308528 GetZeeGold
GetZeeGold's picture



Recent Walmart sales figures seem to support that theory.

Thu, 03/07/2013 - 11:33 | 3308712 GeezerGeek
GeezerGeek's picture

Both can be explained by the wealth effect the rise in the DOW has provided. Those who used to shop at WalMart can now afford to visit Nordstrom and Nieman Marcus. Those who once drove Civics, Corollas, Fiestas, etc. are now able to drive a Tesla or Fisker.

We're rich, I tell you, rich. Beyond our wildest dreams.

Thu, 03/07/2013 - 10:56 | 3308537 thecoloredsky
thecoloredsky's picture

Just asked a co-worker what she thought of the reason behind the chart. First thing she said was "hybrids?"

Thu, 03/07/2013 - 11:03 | 3308568 insanelysane
insanelysane's picture

Yabba dabba doo!

Thu, 03/07/2013 - 11:20 | 3308637 aerojet
aerojet's picture

Cash for Clunkers.  Gotta give credit where credit is due.

Thu, 03/07/2013 - 11:29 | 3308693 DblAjent
DblAjent's picture

You work at Walmart?

Thu, 03/07/2013 - 12:57 | 3309037 Raymond Reason
Raymond Reason's picture



Thu, 03/07/2013 - 15:00 | 3309434 Seer
Seer's picture

And you commute with Cramer, right? </sarc>

Thu, 03/07/2013 - 12:30 | 3308919 SheepDog-One
SheepDog-One's picture


Thu, 03/07/2013 - 12:55 | 3309033 NotApplicable
NotApplicable's picture

File this under: Please just shoot me now.

Thu, 03/07/2013 - 11:03 | 3308556 NoDebt
NoDebt's picture

That.  Poverty.

Thu, 03/07/2013 - 11:01 | 3308563 Whoa Dammit
Whoa Dammit's picture

Lots of people are now walking to the grocery stores, etc. in my neighborhood.  They are not doing it for the exercise.

Thu, 03/07/2013 - 11:24 | 3308661 toady
toady's picture

I've noticed that too, I've seen a handful pushing carts a half-mile from the store, and a half-dozen carts in the park where the kids play with them after they find them in the neighborhood.

It didn't really click for me until I saw the notice on the door of the grocery store ;

'Do not take carts out of the parking lot!'

Thu, 03/07/2013 - 12:17 | 3308856 Smegley Wanxalot
Smegley Wanxalot's picture

The shopping carts at a Vons near my parents are GPS tracked and have wheel locks that activate when the cart goes out of the parking lot area.  Smart idea.

The best part is the bums are complaining, and no doubt the transcient rights retards will line up to sue big business for securing its property.

Thu, 03/07/2013 - 12:51 | 3309010 mr1963
mr1963's picture

Same thing happened on my golf cart, went to drive onto the green to make my putt and the damn thing stopped me. I guess it expected me to walk or something, screw that.

Thu, 03/07/2013 - 12:58 | 3309041 NotApplicable
NotApplicable's picture

Wow, I can't imagine that's cost effective. It's surely cheaper to keep a couple of cart chaser kids on the alert.

Thu, 03/07/2013 - 13:49 | 3309205 jumbo maverick
jumbo maverick's picture

If government motors would tap into this they may make some profit. Production line re tooled to make shopping carts. Lot of potential there. A chicken in every pot a cart in every garage.

Speaking of shopping carts and cars it was always fun to get in a big mall type parking lot as your buddy drove and you hang out the passenger window holding the cart. Get up to speed and let that cart fly. Lotta fun.

Thu, 03/07/2013 - 10:51 | 3308515 schatzi
schatzi's picture

Not to spoil the doomsday party, but improving fuel efficiency is a global phenomena accelerated by higher fuel prices.

Thu, 03/07/2013 - 10:53 | 3308521 Spastica Rex
Spastica Rex's picture

This article is about the US. Do you know what "miles driven" means?

Thu, 03/07/2013 - 10:55 | 3308532 schatzi
schatzi's picture

The US doesn't import Japanese and European cars? I'm learning something new every day.

Thu, 03/07/2013 - 11:09 | 3308589 EscapeKey
EscapeKey's picture

Average MPG has increased by about 10% over the past 4-5 years, and the median age of the US car is about 10 years. So, no, the results you see are not entirely down to efficiency.

2007 the overall median age for automobiles was 9.4 years

Thu, 03/07/2013 - 11:13 | 3308611 Spastica Rex
Spastica Rex's picture

Miles driven.

Thu, 03/07/2013 - 11:21 | 3308642 DavidC
DavidC's picture

That was 2007, presumably Cash for Clunkers subsequently has had an effect on that number?


Thu, 03/07/2013 - 11:28 | 3308692 schatzi
schatzi's picture

Well at least some of you are actually discussing numbers and giving it some thought instead of dumping some Zero Hedge conforming soundbite.


There is a lot of conjecture going on. The link to the site posted above uses the miles driven numbers, which provides a fair comparison beyond any efficiency issues and shows a graph topping out. But that still doesn't give you the direct cause and effect many claim: the recession is to blame. Yeah it could be, but miles driven alone is no proof. The other factor and IMO the far more important one, is the price of fuel influencing behavior. It's the most obvious conclusion to be drawn and can be based on the most simple price elasticity models. Compare that to the overall flat spending in the US.

Thu, 03/07/2013 - 11:42 | 3308743 jcaz
jcaz's picture

Way to take a simple subject and obfuscate it to the point of banality....

Quit trying to sound brighter than the other kids and buy into the VERY basic premise:  less zoomy-zoom means fewer trips to Walmart.

It's a global oil-based economy, dude- ain't that tough to figure out.....

Freaking Econ students.....

Thu, 03/07/2013 - 11:49 | 3308766 schatzi
schatzi's picture

Ummm... thanks for that. I did my post grad 20 years ago. Yes it is simple and banal, yet people here draw the wrong conclusions or conclusions that lack any direct proof, simply because it fits into their constricted views. It's not my job to convince people of anything else, I'm just astounded by the mindless conformity.

Thu, 03/07/2013 - 12:23 | 3308891 jcaz
jcaz's picture

LOL-  and thank you for confirming MY post-  another wanna-be intellectual, trying to make a point where there is none to be made......

Dude, it's not a job-  it's a fucking ADVENTURE!

Psst- the proof is right in front of you-  look down from your Ivory Tower.......

Thu, 03/07/2013 - 11:42 | 3308746 Spastica Rex
Spastica Rex's picture

OK - so what explains the drop in miles driven? What behavior disconnected from economic activity explains this?

You're at bat.

And no down arrow for you because you almost ate a little crow.

Thu, 03/07/2013 - 12:21 | 3308882 schatzi
schatzi's picture

What's so difficult to understand? Miles driven reflects consumption behaviour. Even with the premise of keeping your $ budget for fuel CONSTANT, you need to consume less fuel with rising prices. It means not driving unnecessary miles, it means better route planning, it means using public transport, car pooling etc.. Add to that the strong rise in online consumption cutting into individual transport usage. But no, It's probably Obama's fault and fuck you Bernanke. Happy?


As to up & down arrows. Seriously? I couldn't give a fuck. I'm here to be alternatively informed but made the mistake of seeking discussion.

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