October 19, 2014


BW photograph of a Royal Farms gasoline prices sign advertising $2.99/gal gasoline.

Copyright 2014 Kevin P. Mick Photography. All rights reserved.

I truly thought I would never again see sub-$3.00/gallon prices on gasoline.  These rapidly dropping prices are generally met with gratitude as the money saved on gas can be used in other areas.  It appears that conflict within OPEC is partly responsible for this trend.

Meanwhile, the stock markets of the world were in a sharply downward trend as well this past week.  (On Friday some markets, including those in the United States, rebounded a bit.)  These rapidly dropping prices were decidedly not met with gratitude.  There are many issues driving this trend; all of which serve to illustrate just how intricately connected the world of the 21st century is.

And when it comes to global connectivity, perhaps no other issue dominates as much as the Ebola virus.  As the content of this post relates to economic issues, this article provides a global monetary analysis of the outbreak.  It is, of course, difficult to put an economic cost on pain, suffering, and death-that is until any legal action makes this necessary.

However, the title of the post is Perceptions and this also applies to Ebola for at least two reasons.  First, The Centers for Disease Control (CDC) in the United States has posted this page regarding the transmission of the virus, and it would be important to read this information as what people believe about the transmission and what the CDC says may be different.   Second, it appears that as long as Ebola remained within the remote villages of Africa and outbreaks quickly burned out, it was not worth the economic investment of pharmaceutical companies in developing a vaccine as reported here.  That seems to have now changed, which is important for all going forward.

Yes, the economics of Ebola makes the cost of a gallon of gasoline become most insignificant by any comparison.

Take care.


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