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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (201214)	12/4/2010 2:53:05 PM
From: Wharf Rat	Respond to of 362425

"King suggests the real estate bubble burst because individuals were forced to pay a higher and higher percentage of their income for energy—including electricity, gasoline and heating oil—leaving less money for their home mortgages." It's called "eating your seed corn." Now we pawn tools to buy gas to go to work where we find we need the tools we pawned... The first signs of the Apocalypse of '08... Oil (C&C) peaked in '05. Peak 2 in 12/05 By April, '06, we find Apr 20, 2006 11:16 pm Texans Going To Pawn Shops To Get Extra Gas $$ "Some of the construction people tell us they are having to pawn their tools to buy gas, but when they pawn their tools they can't go out and work in the construction business 'cause their tools are in pawn. So it kind of a catch-22," Costner said. cbs11tv.com Quest For Gas Money Leads To Pawnshops (Orlando) As Fuel Prices Climb, Drivers Hock What They Can To Fill Up. May 03, 2006\| "This morning there was a contractor who pawned his tool set to go out to a job," said Jack Mulvihill of Action Pawnbrokers, in the 3700 block of N. Andrews Avenue in Oakland Park. "Many of the roofers in town are pawning roofing tools for gas for their trucks. We had a teacher pawn a television set." articles.sun-sentinel.com (This actually started in the South post-Katrina; around Dec. '05, but I don't have links) oil graph here Message 26467101

To: Wharf Rat who wrote (201214)	12/4/2010 3:26:56 PM
From: Rock_nj	1 Recommendation Read Replies (2) \| Respond to of 362425

Our economy is all about oil, and has been for decades. That graph is an excellent depiction of this relationship. In fact, oil is starting to get pricey again, since we are running out of it (why isn't Obama talking about this most important fact?). This tepid recovery will be derailed quickly if oil spikes well above $100 next year. The sort of message liberal Democrats should be preaching is kick our oil habit and pave the way for a more solid economic foundation and future for all.