Thursday, February 23, 2012

WILL HIGHER GAS PRICES CAUSE ECONOMY TO TANK AGAIN?

SPECIAL POST


The rapidly rising gas prices will most certainly cause the U.S. economy to tank again.  High gas prices and the housing bubble caused the last great recession that, I believe, is still not over.  The housing market has by no means recovered.  Too many people are either out of work or on greatly reduced incomes with somewhat limited financial resources.  They will of necessity quit spending for anything except essentials.  That sets up things for another plunge into what may be a very great depression.  

One thing is certain: Obama's veto of the Canadian Keystone Pipeline project did not help the situation one damned bit.  Now he, and the country, are behind the proverbial 8-ball.  

That's MY AMERICAN OPINION, respectfully submitted.  


No comments: