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| You make some valid points, however, comsumption is down now as gas has gone over $3 towards $4/gal. Many budgets are straining to keep up with expenses and gasoline. We, in this country, will have to learn how to comsume less of everything. Sales of large SUV's and pickups are way down (though not in rural areas). Large appliances and other hard goods sales will be soft. Metro car dealers are heavily discounting large vehicle tradins, while rural dealers have large inventories of new and used pickups. That just reflects last years's changes in spendable incomes from city to country. (I would not enjoy owning or selling motorhomes in the near future)
This economic slowdown will affect those with incomes of $100,000+ less than others, but it will affect them too. They will not be able to maintain their current lifestyle without cuts. $4-$5/gal gasoline will hurt them too. $5+ will put major brakes on everything, including vacations up north, out west and airline travel. Big business travel will continune with some cuts, their profits will be down. We have not even begun to feel the effects of this slowdown yet. Wait til after the election................................Time will tell. Just my opinion. | |
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Goldman's Murti Says Oil `Likely' to Reach $150-$200
