Some may argue that there is no correlation between the price of gasoline and credit card interest rate charges. However, when the price of gasoline crept up from 3.00 dollars a gallon to 4.00 dollars a gallon, economists began explaining how this rise in the cost of gasoline would adversely effect the economy.
What if I told you the entire country has been paying a secret one dollar per gallon tax for the last couple of years?
What if I told you that the 1 dollar a gallon of gasoline tax consumers are presently paying is not going to develop alternative sources of energy, but instead is going into the pockets of wall street bankers who don't reinvest the money on main street?
Total average miles driven in the United States averages around 250 billion miles a month. To calculate the miles per gallon average I used 20 miles per gallon. While many cars get well above this figure, when city driving, older vehicles, trucks, buses and bigger vehicles are factored in, 20 miles per gallon is probably a "safe" overall estimate to make, therefore the United States consumes 12.5 billion gallons of gasoline per month.
Approximately 850 to 950 billion dollars in Consumer credit card debt generates an estimated 12.5 billion dollars a month in interest rate charges on this existing credit card debt. American Consumers are being billed 12.5 billion dollars of interest rate charges every month. Every month american consumers use 12.5 billion gallons. This translates into a 1 to 1 ratio. For every 1 dollars of interest rate charges consumers pay every month, they consume one gallon of gasoline.
So whatever you pay per gallon of gasoline, the overall economy is absorbing an additional $1 dollar a gallon in credit card interest rate charges.
That 1 dollar in interest rate charged for every gallon of gasoline consumed is not going towards alternative energy research, it is instead going to national banks as profit that then gets reinvested in foreign industry, or is simply given out as bankers bonuses.
Either way, the interest you pay on your credit card debt IS NOT coming back to your local community.
By not accelerating alternative energy research, the U.S. has to fund excessive military bases all over the world to monitor strategic oil resources.I would much rather see the United States in a more self reliant energy position and that 1 dollar per gallon consumed should be going for alternative energy research.
Instead of having to pay to maintain all of these military bases and waste a lot of fuel fighting the right to consume a lot more fuel, we could actually use a leaner military to make sure countries are not wasting their resources too quickly.
And, more importantly, if we did have the energy resources to effectively power our own economy, our concern about world wide energy consumption habits would be more altruistic since we wouldn't have to have the energy supplies that we would be monitoring.
In the meantime, consumer credit card debt is the equivalent of 1 dollar per every gallon of gasoline consumed in the United States and in essence that is how our wars are being funded.
Paying interest rate charges on credit card debt is funding our war efforts all over the globe when it should be funding alternative energy research that would reduce the need for world wide military intervention.