Page 41 - Tobin Smith News Today : Breaking News, Live Updates & Top Stories | Vimarsana

is $5 a gallon national average, a good chance what's happening with the middle east right now we could see, you know, not only the recovery end, but what we're going to see is people driving to and from work. i drive a car and this is going to hurt me. every good i buy is transported from the manufacturer to the retailer. and passed on to me. when i go to the store, i'll buy something, higher than a few months ago and the bigger thing, confidence, if i walk by a big screen, and see gas at $5 then i'm not buying anything. >> brenda: gary b. you're he not sure about that. basically ev...

money for life's necessities such as food, you said we're up 5% in a year, less more other items. corporate profits will take a hit and that leaves corporations with two options, one, you can pass the rising cost on to consumers which we're seeing or layoff people so we have to be prepared. >> well, gary b. and we've seen that with safeway, a lot of times, in a recession, companies will just, you know, their margins will shrink and they won't pass them along, what do you think? >> exactly. i think that will be the case this time. look, i respect todd's macro views and just kind of co...

look, it's a simple lesson in economics 101. when you're spending more money for life's necessities such as food, you said we're up 5% in a year, less more other items. corporate profits will take a hit and that leaves corporations with two options, one, you can pass the rising cost on to consumers which we're seeing or layoff people so we have to be prepared. >> well, gary b. and we've seen that with safeway, a lot of times, in a recession, companies will just, you know, their margins will shrink and they won't pass them along, what do you think? >> exactly. i think that will be the...

The ability to achieve income inequality is what made america great. it allowed people or people like henry ford or andrew carnegie and bill gates even to go out there and take a log the risk so they could earn a lot of money and they did so and they brought great innovation and productivity to the country. and people that want income inequality, you have to look at america in the 30's, we had great income inequality then and it was a terrible time or look at the soviet union, look at communist china. china now, no, brenda income inequality means that people, rick santorum can get ahead and th...

prices and not how to pay for high gas prices? >> that's the issue. my goodness, we're expending this because we're not addressing the real problem and the real problem is, there's a great psychological impact on the price of gasoline, every consumer understands it. it's not like the trade balance or something like that, they're trying to figure out is this important. it's extremely important because it's in our face every single week, and this is why we don't have a comprehensive energy policy. we have to focus on lowering the price of gasoline, it will have the single greatest infl...