High gas prices ain’t gonna kill nothing here in the good old USA. People will pay $6 a gallon to drive their ultimate behemoth SUVs 50 miles every day to and from work. They will just switch to even lower quality food to make up the difference, they will quit their gym memberships, stop saving money for college, end their 401K contributions, etc…
But they won’t cancel their cable TV. It will get interesting when there is nothing left to cut from the budget, their diet is 100% generic corn chips, bulk string cheese and cola from Costco. What will they do then? Drive less or get rid of the cable? I predict they will just start siphoning their neighbor’s gas to avoid making the choice.
