Welcome to the City – Home of No Car or a Once a Month Fill Up

A Bcc:List Original “Classic”…

April 23, 2008

“Wow – I would “hate” to live in any city that has good public transportation as things are going to get pretty flipping crammed (if that’s possible) once gas goes to $5.50 a gallon.

http://articles.moneycentral.msn.com/Investing/JubaksJournal/WhyOilCouldHit180DollarsABarrel.aspx

The idiot of the United States has been real progressive about forcing our consumption down, right? And, at least $20 a barrel is because the chaos in the middle east (speculation) caused by his current war and continual treat of war against Iran. These two things, along with the fact that our dollar is literally worthless now because we are in so much debt, makes $180 a barrel oil seem like a dream. What happened to all those 4 more years chants in 2004?”

Later that week…

http://www.msnbc.msn.com/id/24316855

Wow – another article…this one says oil will go to $200 a barrel. At least this one mentions the major reason

“Many analysts believe the weakness of the dollar is a bigger factor than supply and demand because the soft dollar draws investors worried about inflation into commodities such as oil and gold.

It also makes commodities less expensive for buyers operating in other currencies. Many investors see the dollar only heading lower if the Federal Reserve keeps cutting interest rates, which most analysts still expect it to do next week.”

Articles like this and the one sent earlier always come out 6-12 months before the prices mentioned are hit. A year ago everyone said $120 a barrel could be coming and nobody believed it. Believe it ($180-$200 a barrel), son.

$5.50 – $6.00 a gallon for gas coming soon to a city near you and mccain doesn’t think there’s an inflation issue? mccain (and clinton) wants taxes on gas decreased though those taxes are paying for roads, our mounting national debt, etc? That doesn’t make much sense, right?”

UPDATE:

The Wall Street Journal (blog) mentions the fall of suburban home prices on May 12, 2008. CNN (tv) had a news story today about the fall of suburban home prices but an expected rise in city home prices due to the surge in oil prices. I can’t find the link but I assume it will hit Google News tomorrow.

Regardless, home prices aren’t rising anywhere for at least 2-? more years. That said, hopefully you live in a city with mass transportation because $200 a barrel oil could be knocking on the door.

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