Morning Thoughts

A Response to Gas Prices

This morning, Sterling Terrell posted about our current gas prices, and questioned if they really are in fact high prices.

Terrell argues that the increases in gas prices is dependent on inflation, taxes, and the fluctuations in supply and demand.

In general, Terrell does a decent job explaining the basics of gas prices, however I would take it with a grain of salt. He first discusses how inflation impacts the gas prices:

First, we need to take into account inflation. The result of the Federal Reserve printing too much money is a loss of purchasing power of the dollar: something that cost $1.00 in 1950 would cost about $8.78 today. As for gas prices, in 1950 the price of gas was approximately 30 cents per gallon. Adjusted for inflation, a gallon of gas today should cost right at $2.64, assuming taxes are the same.

Environmental Money Tree

I am a voracious reader. I have an insatiable appetite for learning and expanding my general knowledge of, well, anything. I am absurdly interested in everything. Reading is my lifelong pursuit to understanding the world and, whether healthy or not, I am never satisfied with my knowledge. Like everyone, I have my favorites, but one day I may be reading Phillip Sidney's 16th century Countess of Pembroke's Arcadia, and the next day will be full of James Bond adventures, of course in comic book form. Reading allows me to keep an acute mind and helps me to become a better informed person.

One of my favorite books is F. Scott Fitzgerald's The Great Gatsby. This morning I wanted to know a bit more about Fitzgerald, and I found this article (a self analysis) he wrote in the February 1936 issue of Esquire. The second paragraph really hit me hard. I have a little notebook I carry around with me everywhere I go. It is full of ideas I have, quotes I like, random thoughts, doodles while waiting for my coffee, you name it. A piece of this article is my newest entry, and also what led to this posting:

The Defining of Hyperlocal, Part 1

The other day, after I finished preparing for a meeting with potential partners, I asked a colleague of mine to review the material and give me his thoughts. The last couple of months have been full of 120-130 hour weeks researching, planning, and calculating for my new "hyperlocal" startup. Everyday, in addition to looking like I woke up and did a few lines of coke out off of my bathroom sink, I've also learned that time becomes more valuable than nutrition and exercise. passion has eagerly replaced them both.

After reading through the document, there was one question I've been asked numerous times before, "What does Hyperlocal mean?" I have found the term to be rather ambiguous. Many people have varying opinions on what it means, but for the majority, it is centered around local news and events. A good start, but I believe the term connotes a deeper meaning within the realm of economics, specifically at the local and community level.