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News Link • Economy - Economics USA

Guest Post: U.S. Gasoline Consumption Plummets By Nearly 75%

The collapse in the "civilian participation rate" (the number of people working in the economy) and the "velocity of money" (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral.

However, even that previously published data, and the grim analyses which accompanied it could not prepare me for the horror story contained in data passed along by an alert reader. U.S. "gasoline consumption" – as measured by the U.S. Energy Information Administration (EIA) itself – has plummeted by nearly 75%, from its all-time peak in July of 1998. A near-75% collapse in U.S. gasoline consumption has occurred in little more than 15 years.

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