Gas $2.03 in Los Angeles – Great News

Yesterday, I saw gas for $2.03. Shocked!! The thought of gas being under the $2 mark is not only possible but likely. This is the short term good news. This helps put money back into to the pockets of American. This is a good thing.

Gas Prices
This past July (08), gas in Los Angeles (my area) hit a record high of $4.80 (I buy my gas at Costco, where gas is discounted by .10 or more.). Some areas in Los Angeles hit the $5.00 mark.

DJI
October 2007 the DJI was trading at 14,000+ Fast forward one year and the market was down to 8,175. Come November 2008 the market went below 7,550.
Gas prices are down 57% from the summer peaks. The DJI has almost lost half its value, which translates to trillions of dollars of wealth wiped out in less than a year.

While I am happy gas price have dropped, the economics that have orchestrated this drop is very disturbing.

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