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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: aknahow who wrote (8057)	7/7/2001 9:38:38 AM
From: Hank	Read Replies (1) \| Respond to of 10293

I'm no economist but it seems to me if I am suddenly paying 50% more to fuel my car and 50% more to heat my house, that is inflation. Not everybody owns a house or their place of business, so the people this impacts the most are the lower income people that rent and the small business owner that leases his work space. That accounts for an awful lot of people in this country. Furthermore, if a home owner refinances his/her home and saves $200/month in mortgage payments but then begins averaging $200/month more in fuel costs, what have they gained? My point is that we are teetering on the brink of disaster. It may turn out ok and it may not. IMHO, which way things go depends on the direction of energy prices within the next year. "If oil and everything that are made out of it go up in price, consumers will have less to spend on everything else and the lack of demand will cause those prices to fall." And what happens when consumers spend less? Can you spell RECESSION? Can you spell RISING UNEMPLOYMENT? You seem to have made my point.