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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (29081)	3/22/2005 11:55:24 AM
From: benwood	Read Replies (5) of 110194

With gas, some people are stuck only because the rock bottom prices in recent years allowed them to become complacent and move many miles from their jobs. Around Seattle, there are thousands who commute 60-90 minutes or more from over the mountains (beyond Snoqualmie Pass) or as far north as Bellingham near the Canadian border. However, if the price at the pump gets high enough, there will be changes: Near term: Car Pooling Public Transportation, at least for part of the way Telecommuting and/or compressed work shift For a few, alternatives like bicycling. Fewer trips on a whim -- connect some errands and go out less often Longer term: Moving closer to job or job closer to home Less pleasure trips, or for-fun long drives Closer to home vacation Longer term to lower other energy costs: new windows High efficiency front loader washer & new dryer better insulation smaller home LED lighting (in about two years) -- CF for now Some of these changes will be delayed until the RE bubble bursts and the long term fiscal reality of the average bloke finally sinks in. For some of these, a light will go off in their head during a fair and balanced town meeting about the wallstreet-ization of SS, and it will dawn on them about a painful transition that awaits them from the fantasy of yesterday (ATM == house) to one of the present day reality (negative savings rate adds up to infinite retirement age). They will cling to distractions (war, feeding tubes, "family values") but those will not prove to be effective in delaying the inevitable.

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