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Monday, April 25, 2011

Hooray! US record low gas prices!

Very interesting angle at the price of the gasoline in US (well, I guess all around the globe for that matter) from the Peter Schiff's video blog. The point he's making is that with silver price around $50/ounce old quarters (minted before 1963) cost about $10/quarter or more. So if your parents were smart enough and you have enough of those you'll be paying less than $0.12 for a gallon of gasoline (that's right, in before 1963 dollars).

Another great point to notice is where Peter says that minimal wage law has double effect on the people:
  1. young people can't have low paying jobs such as pumping gas at the stations (pretty much all of the stations are "self-serving" now)
  2. senior citizens have to get out of their cars in the rain and whatnot to pump their own gas
Well, I guess it is Ok, because nobody really cares about latter and former can hang in their parents' basements watching TV and doing nothing all day long until they are ready to get on government dole. Why bother?

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