American consumers are already tapped out, they are loaded up with debt, they have part-time, low paying jobs and americans drive a lot. I mean, more than any other people we a re dependent on our cars. We don`t have a really great public transportation system, a lot of americans have to drive a long way to get to their low paying jobs and they may not be able to afford higher gasoline prices.
Related: Valero Energy (VLO), Tesoro Corporation (TSO)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
- ► 2016 (252)
- ► 2015 (344)
- Federal Reserve: Trapping People In Money-Losing I...
- GDP: Biggest Contraction in 58 Years
- Americans May Not Be Able To Afford Higher Gasolin...
- Higher Crude Oil Prices Will Affect The Global Eco...
- Yellen Is Not Worried About Inflation, Yet
- Bitcoin: It`s Not Going To Work
- Digital Currencies, Bitcoin, Twitter & The U.S. Do...
- The British Pound (GBP) Is Breaking Out
- Why Jobs Are Declining In America
- Loading Up On Gold And Silver
- Inflation Is Already Taking Off
- If The Fed Removes All the Monetary Props Beneath ...
- Video: Gold & Housing Market Outlook
- On The Verge Of A Financial Crisis
- Taxing Americans Through Inflation
- A False Belief Is Driving The U.S. Markets
- Oil Prices Are Going Higher
- What`s Driving Oil Prices Higher?
- Markets Are Riding The Wave Of Cheap Money
- Certain Companies Will Benefit From Inflation
- Countries Are Inflating Their GDP`s
- The Cheap Money Is Harming the U.S. Economy
- Minimum Wage Laws: Bad Policy
- The Stock Market Is A Function of QE
- Bitcoin Is A Bubble, Prices Are Going Down
- Video: Hidden Inflation
- Forex Outlook: EURUSD
- Trade Deficit & Q2 GDP Report
- Foreign Stocks, U.S. Stocks & Real Estate Prices
- Stock Market: Hidden Weakness
- Momentum Stocks Will Continue To Trend Lower
- Central Bankers: "We Need More Inflation!"
- Consumer Spending: Biggest Decline In 5 Years
- U.S. Economy: Where Is The Bounce Back?
- ▼ June (34)