Gas prices and economy

[John Carbone]

Gas prices are really starting to accelerate with the national average at $3.40, which is historically very high. Oil is only just over $80 a barrel, and I believe $150 a barrel was the ATH several years ago. GDP only came in at 2 percent and we still have revisions that are expected to be below 1 percent when it is finalized, and this despite all the liquidity injected into the market.

my question is, high gas prices impact short term rentals especially in the panhandle and Smokey mountains. These markets are on fire and at all time highs but headwinds look extremely bleak and reminiscent of the cold winter from 2008. How are you all feeling about this, is this just FUD?

The data seems to show that we are at the beginning of a potential long period of stagflation reminiscent of the 1970s.