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Joined: 07 Feb 2005
Posts: 23
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 Posted: Sat Aug 13, 2005 4:36 pm Post subject: Why filling up at the pump will give you the hump |
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SHARE INTELLIGENCE
Unless you live in dreamland - perhaps next door to an economist - you'll have noticed petrol prices soaring to $1.20 a litre. Blinded by low interest rates and low inflation numbers, this resilient bull market is ignoring a big problem.
It's like the elephant in the corner of the living room that nobody wants to mention. The ASX is powering to record highs and since rising petrol prices barely make a blip on the consumer price index, most people are happy to ignore them.
Don't do that. Petrol prices work like interest rates. They don't just affect the hip pocket, they affect consumer confidence and excitable stock markets react very quickly to confidence indicators....
Continue: http://www.theage.com.au/news/comment--analysis/why-filling-up-at-the-pump-will-give-you-the-hump/2005/08/13/1123353537185.html |
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