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After Christmas the retailers are going to fall like dominoes and the malls will empty, followed by restaurants. We will be left with Wal-Mart for a while, but if prices continue to rise, even they could see problems as they are forced to raise their prices. Many people right now don't realize this is more than just an inconvenience at the pump. Its the iceberg that will sink the titanic. Bernanke should do WHATEVER it takes to get these rising prices under control. Housing is trivial compared to this.
Do you think that there will be a good Christmas season this year? With borrowing darn near impossible except for the MOST credit worthy. I think this is going to be the worst Christmas season on record.
Do you think that there will be a good Christmas season this year? With borrowing darn near impossible except for the MOST credit worthy. I think this is going to be the worst Christmas season on record.
This is why many retailers will go bankrupt after the first of the year. Retailers depend on Christmas to make their bottom line. If gas is $7-$10/gallon as many are predicting it will be, Santa isn't going to be the jolly generous giver we all know him as, if he can even afford gas in his sleigh.
I for one will be pleased to see retail space sitting empty, instead of farmland being bulldozed for more shopping centers.
You must be a teenager that doesn't have to worry about making your bread and butter in this economy. Collapse in the retail industry would NOT be a good thing.
Many people right now don't realize this is more than just an inconvenience at the pump. Its the iceberg that will sink the titanic. Bernanke should do WHATEVER it takes to get these rising prices under control. Housing is trivial compared to this.
You may have come during part time on the game?
This is beyond the money. This is the energy product (oil) that was being used to back the money. Sort of like Gold used to be. We switched to backing it and tied it oil in the 1970's. Concept called Petro Dollars. Petrodollar - Wikipedia, the free encyclopedia Part of why the US freaked when Saddam was going to start using Euros for the sale of oil.
But all the lying, killing and robbing is not going to save US. The USS Titanic/America already hit the iceberg. Peak Oil (the iceberg, as it were) looks like it hit about 2005 and may run through 2010. After that it is down hill fast.
But like the real Titanic, most everyone was asleep and just slept right through it. Now that water is getting up to the higher decks, folks are waking and figuring out that something is not right.
Anything the Fed does now does not have a bright prospect. Print more money, it goes worthless quicker. Raise interest rates (retract money) and the world goes into severe recession or depression. Although at this point, a severe recession/depression is the only likely method of reducing oil demand.
Maybe the world should start donating us money from the billions and billions of dollars we have donated to the world... hmmm... I don't think that's going to happen... and we still donate billions and billions more each year... what is wrong with our politicians...
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