I love late Friday afternoons. It’s Weekendus Maximus Time. Raspberry Vodka Gimlet in hand, I contemplate the week.

Here’s a few short news bites on - what else? - gasoline prices and inflation, that caught my eye this week.

World
The US recently told China they have to start selling their imported gasoline to their people at a higher price. World fuel subsidies currently deflate fuel prices in many underdeveloped countries, including China, Malaysia and India. The US government feels that this is part of what is causing western prices to be unusually high.

China has agreed, but they gave no date as to when they would start doing it.

The picture above shows some Chinese people with there motorcycles waiting in line to fill up, after hearing rumors that gasoline prices would be rising.

In a quote from the Wall Street Journal: “While China’s population is larger and consumption is growing at a much faster rate than in the United States, the Chinese note that the average American consumes about 14 times as much oil as his Chinese counterpart.”

I have a feeling there’s going to be some trouble over this. I mean, what are they going to say? “Ok, sure, Mr. Bush. We’ll pay more for oil so you gluttons in America can pay less. No problem.” If they do it, there’s something going on that they’re not telling us.

Sheesh.

National USA

Meanwhile back at the ranch, fears of increasing inflation and rising fuel costs pushed the market below 12,000 points for the first time since March 17th. My 401k is back on the skids. The whole idea of “riding it out” is starting to worry me. Since I’m a good 10-15 years away from retirement, I’ll assume we’ll have a recovery by then.

To curb inflation, the government is pressuring the Feds to increase interest rates again, but at this point that seems unlikely, as it’s an election year. What the election has to do with us paying more for everything is mystifying.

Small Town USA

A huge branch fell from one of my neighbor’s mammoth maple trees. That’s not big news, but that it narrowly missed my house and garage, but fell on my car and totaled it is big news!

So I am car shopping this weekend. Because of the soaring gas prices and global warming, I’m limiting myself to the less gas guzzling options. The Prius is too expensive, so I will probably end up with a Yaris, Corolla or Civic. Yaris are the least expensive, then Corollas. The Honda is a good $1000 more.

Car loan interest rates are still at 7%, even though the Fed rates are at an all time low. More mystery. Perhaps another gimlet will help clear things up.

I’ll let you know how I make out on the car. Anyone out there buy a car lately?

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