Posted by: Marshall Sponder | June 28, 2008

7 dollar a gallon Gasoline – here we come – I think it’s going to be even higher

By the end of next year –

You wonder, isn’t the writing on the wall as far as the Economy goes?

Why do people keep thinking … we’ll maybe things will get better later this year – maybe it won’t be that bad.

Well, generally, I don’t drive – I live in NYC – but a lot of stuff gets affected by the oil prices which end up making food and rent cost more, electricity – even though it is not produced by Oil, seems to be indexed in price against the price of Oil (figure that one out!) and I think, we’re in for a severe recession, perhaps, even a Depression, by this time next year.

What would fix it – my guess is will have a Democratic President, Congress and Senate, and probably being doing the WPA all over again – more or less – even though we can’t any longer afford not to.

I do think there should be two or three additional Stimulus Packages, similar to what was put in effect this spring, started immediately – that would help some.

Extending Unemployment Insurance  indefinitely for those out of work now and in the next year or so would help and perhaps putting our huge national resources into finding alternative energy sources, would help.

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