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Re: NOT the LAST WORD on GAS PRICES
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Posted by BobInMN on May 26, 2004 at 20:23:27 from (206.145.27.87):
In Reply to: NOT the LAST WORD on GAS PRICES posted by TomR Ont. on May 26, 2004 at 19:53:26:
I really do believe we are in for some hard times ahead. I recently read that everytime gas prices have risen sharply a recession follows. Also, what makes a big difference this time is China's hugh increase in oil usage in the last year. Even if the oil producers increase production I don't believe it will lower the price like it did in the past. This goes off in another direction, but I believe there is a bubble in the housing market. How can the value of housing increase 30-100% in some areas of the country without wages increasing? Maybe high oil prices will burst the bubble. Time will tell.
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